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Initially you may only be making a tiny amount of money passively, and you might even want to re-invest that money so it compounds and grows quicker. However, with a few time, its possible to make enough passive income that 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 that you make without putting in much effort. The money will flow in without too much being required of you. In some scenarios it could 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 need just as much effort in the future when youre making the money.

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

Ive been blogging full-time for ten years and Ive sold ebooks and courses 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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Just about 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 possibilities than that which will be listed here.

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

 

 

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Your very first financial priority should be to build up an emergency fund that will cover all your living expenses for a few months. But dont put this money is 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 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 easy, and can be done online. .

Some companies consistently pay dividends for 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 let you 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. 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 each the dividends on hold on to the stock for quite a Going Here long time, or make use of the income produced throughout the dividends.

For far more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these shares, visit this collection out of 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 matched up through a site or market. Instead of going to a bank, the debtor gets a loan by an investor.

In some situations the borrower might not be able to be eligible for a loan through a traditional bank. And in many circumstances the debtor gets a better interest rate than they might receive from a bank. As an investor, you can earn a good return too.

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