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At first you may only be making a small amount of money passively, and you might even want to re-invest that money so it compounds and grows quicker. However, with some time, its potential to make enough passive income you could quit your job or retire .

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Passive income can be a small divisive topic. In general, passive income is any money you make without putting in much effort. 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 instances it might be short lived or inconsistent.

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

What qualifies as passive income is up for discussion. Most lists that 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, all of them require an excessive amount of effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from other people which youre paying.  Selling ebooks or classes will need on-going customer service, and youll need a consistent traffic source in order to continue to create sales. It is possible and there are individuals who have been in a position to do it , but they make up a small percentage of people who really set out to do it.

Ive been blogging full-time for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I simply dont consider them to be passive, in the majority of cases. .

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Just about any business can be a source of passive income when youre paying others to run the business. That is true with both online and traditional businesses. That opens up even more possibilities than what will be recorded here.

Now lets have a peek at a few of the greatest ways to make passive income. Some of these are investments which will need some money to start with. Other folks wont require any money to get started. In case you dont have the money to invest now, consider starting with the approaches that dont require any money, and then utilize that money you make to invest. .

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Your first financial priority must be to build up an emergency fund that will cover all of your living expenses for a couple months. But dont put this money is a checking or savings account at a local bank that pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a much better More about the author return for you.

My wife 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 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 leads to greater dividends in the future (ideally).

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

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

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of those shares, see 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. Creditors and lenders can be matched up via a website or marketplace. Instead of going to a bank, the debtor receives a loan from an investor.

In some cases the borrower might not have the ability to qualify for a loan via a traditional bank. And in many circumstances the debtor gets a better interest website here rate than they might get from a bank. As an investor, you can earn a great return too.

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