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

 

 

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Passive income can be a small divisive topic. In general, passive income is any money 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 some other cases it might be short lived or inconsistent.

In some circumstances 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.

What qualifies as passive income is up for debate. 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 opinion, they all 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 others which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic source 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 make up a small percentage of individuals who really 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 the majority of cases. .

 

 

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

Now lets take a look at a few of the greatest ways to make passive income. A number of these are investments that will require some money to begin with. Others wont need any money to begin. In case you dont have the money to invest now, consider starting with the approaches that dont require any money, and then use that money you earn to invest. .

 

 

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Your very 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 would be a checking account 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 that will earn a 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 over here 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 for their shareholders. As a shareholder, 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 Recommended Site long history of success. Because of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a great 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 produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. To get a list of these shares, visit 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 years. Borrowers and lenders can be paired 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 may not have the ability to be eligible for a loan via a traditional bank. And in many circumstances the borrower gets a better interest rate than they might receive from a bank. As an investor, you can earn a good return as click for more well.

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