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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows faster. However, with some time, its potential to make enough passive income that 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 make 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 could 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 long run 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, all of them require an excessive amount of effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or from other people which youre paying.  Selling ebooks or courses will require on-going customer support, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who have been in a position to do it passively, but they compose a small percentage of people who actually set out to do it.

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

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Nearly any business can be a source of passive income if youre paying other people to run the business. That is true with both online and traditional businesses. This opens up even more chances than that which will be recorded here.

Now lets have a look at some of the best ways to make passive income. Some of these are investments which will require some money to start 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 require any money, and then use that money that you make to invest. .

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Your very first financial priority must be to develop an emergency fund that will cover all your living expenses for a couple 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 much greater return hop over to here 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 quick and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. Recommended Site As a trader, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will allow you to own more stocks, which contributes 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 history 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 a long time, or use the income generated through the dividends.

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. To get a list of these shares, see this collection out Related Site 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 decades. Creditors and lenders can be matched up through a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower might not be able to qualify for a loan via a traditional bank. And in many cases the borrower gets a much better interest rate than they could get from a bank. As an investor, you can earn a great return too.

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