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Initially you may only be making a small amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. However, with some time, its potential 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 you make without putting in much effort. The money will flow in without too much being demanded of you. In some cases it could 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 need as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for debate. Most lists that youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those ideas in this informative article because, in my own opinion, they all 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 others which youre paying.  Selling ebooks or classes will need on-going customer support, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are individuals who've been in a position to do it , but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I simply dont consider them to be more passive, in the majority of 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. That opens up even more chances than what will be recorded here.

Now lets take a peek at a few of the best ways to produce passive income. Some of these are investments which will require some money to begin with. Others wont need any money to begin. In case you my latest blog post dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize that money that you earn to invest. .

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Your very first financial priority should be to build up an emergency fund that can cover all of your living expenses for a few months. But dont put this money would best site be 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 which will earn a much greater return for you.

My wife 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 quick and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in cash. Reinvesting will allow you to own more stocks, which leads 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. Because of this, these investments tend to be considered less risky than the stock market in general.

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

For far more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of these stocks, 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. Creditors and lenders can be matched up via a site or marketplace. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower this website may not be able to be eligible for a loan through a traditional bank. And in many cases the debtor gets a 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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