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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 that it compounds and grows quicker. However, with some time, its potential 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 earn without putting in much work. The money will flow in without too much being demanded of you. In some scenarios it might be long-term recurring income, and in other instances 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 future when youre making the money.

Exactly what qualifies as passive income is up for debate. Most lists which 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, they all require too much effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from others which youre paying.  Selling ebooks or courses will need on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals 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 decades and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider them to be passive, in the majority of cases. .

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

Now lets have a look at a few of the greatest ways to produce passive income. Some of these are investments which will require some money to start with. Others wont need any money to get started. If you dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize 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 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 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 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 trader, you can re-invest the dividends to purchase more shares of the stock, or take the dividends in money. Reinvesting will let you own more shares, which leads 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 track record of success. As a result of this, these investments tend to be considered less risky than the this link stock market in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest each of the dividends on hold on to this stock for a long time, or use the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of these 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. Borrowers and lenders can be matched up via a site or market. Instead of going to a bank, the debtor receives a loan by an investor.

In some situations the borrower may not be able to qualify 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 great return as well.

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