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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. But 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 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 required of you. In some cases it could be long-term recurring income, and in other instances it could be short lived or inconsistent.

In some circumstances 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.

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 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 that youre paying.  Selling ebooks or courses will need on-going customer support, and youll need a consistent traffic supply in order to continue to make sales. It's possible and there are individuals who've been able to get it done passively, but they compose 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 make money, I simply dont consider them to be passive, in the majority of cases. .

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

Now lets take a peek at some of the best ways to produce passive income. Some of them are investments which will require some money to begin with. Others 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 use that money web link you earn 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 which 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 lot better 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 quick and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to buy more shares of this stock, 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 long track record 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 all of the dividends on hold on to the stock for a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of those stocks, 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 decades. Borrowers and lenders can be paired up through a look these up website or marketplace. Instead of going to a bank, the debtor receives a loan from an investor.

In some cases the borrower might not have the ability to qualify for a loan via a traditional bank. And in many circumstances the debtor gets a better interest rate than they could receive from a bank. As an investor, you can earn a good return too.

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