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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. But with a few time, its possible to create enough passive income you could quit your job or retire early.

Passive income can be a bit of a divisive topic. In general, passive income is any money that you make without putting in much work. The money will flow in without too much being required of you. In some cases it could be long-term recurring income, and in other cases it could be short lived or inconsistent.

In some cases youll need to put in some effort up front, but then it wont require as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for discussion. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this post because, in my opinion, they all require too much effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or by other people that youre paying.  Selling ebooks or courses will need on-going customer service, and youll need a consistent traffic source in order to continue to make sales. It is possible and there are individuals who've been able to do it passively, but they make up a small percentage of individuals who actually set out to get it done.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider these to be more passive, in most cases. .

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Nearly any business can be a source of passive income when youre paying others to run the business. This is true with both online and traditional businesses. This opens up even more possibilities than that which will be listed here.

Now lets have a look at a few of the best ways to produce passive income. Some of them are investments which will need some money to begin with. Others wont require any money to get started. In case you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money that you make to invest. .

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Your first financial priority must be to develop an emergency fund that will cover all your living expenses for a few months. But dont put this money is a checking or savings account at a local bank which pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a important site much greater return for you.

My spouse and I keep our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast and easy, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a trader, you can re-invest the dividends to buy more shares of this post the inventory, or take the dividends in money. Reinvesting will allow you to own more shares, which leads to more dividends in the future (ideally).

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The companies that consistently pay dividends tend to be large companies with a long track record of success. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a great investment regardless of whether you want to reinvest each the dividends on hold on to the stock for a long time, or make use of the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these shares, visit this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent years. Borrowers and lenders can be matched up through a website or marketplace. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower may not have the ability to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets a better interest rate read this article than they might get from a bank. As an investor, you can earn a good return too.