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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 it compounds and grows quicker. However, with some time, its possible to create enough passive income you could quit your job or retire early.

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

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

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

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Blogging will always need on-going work, either by yourself or by others which youre paying.  Selling ebooks or courses will need on-going customer support, plus youll need a consistent traffic source in order to continue to make sales. It's possible and there are people who've been able to get it done , but they compose a small percentage of people who actually set out to do it.

Ive been blogging full-time for 10 years and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider them to be 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. That opens up even more chances than that which will be recorded here.

Now lets have a peek at some of the best ways to make passive income. Some of these are investments that will require some money to start with. Other folks wont need any money to begin. If you dont have the money to invest now, consider starting with the find out here now approaches that dont require any money, and then use that money you make to invest. .

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Your first financial priority should be to develop an emergency fund that will cover all of your living expenses for a couple months. But dont put this money would be a checking or savings account at a local bank that 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 much imp source better return for you.

My spouse and I maintain 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 find more information quick and simple, 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 the inventory, or take the dividends in money. Reinvesting will allow you to own more shares, which contributes to greater 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 market in general.

Dividend stocks can be a terrific investment whether or not you want to reinvest each of the dividends on hold on to this stock for quite a long time, or make use of the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. To get a list of those stocks, see this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent decades. Creditors and lenders can be paired up via a website or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

In some situations the borrower might not have the ability to qualify for a loan via a traditional bank. And in many circumstances the debtor gets a much better interest rate than they might receive from a bank. As an investor, you can earn a good return as well.

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