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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 quicker. However, with some time, its possible 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 that 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 some other instances it might 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.

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

Ive been blogging fulltime for ten decades 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 most cases. .

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Just about any business can be a source of passive income when youre paying others 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 have a peek at a few of the greatest ways to make passive income. Some of these are investments that will need some money to start with. Others wont require any money to get started. In case you dont have the money to invest now, try starting with the approaches that dont need any money, and then utilize that money you make to invest. .

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Your very first financial priority must be to build up an emergency fund that will cover all your living expenses for a couple months. But dont put this money would be a checking 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 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 try this with CIT is fast and easy, and can be done online. .

Some companies consistently pay dividends check out here to their shareholders. As a trader, you can re-invest the dividends to buy more shares of this inventory, or take the dividends in cash. Reinvesting will allow you to 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. As a result 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 of the dividends on hold on to the stock for a long time, or use the income generated throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of those 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 decades. Borrowers and lenders can be paired up through a site or market. Instead of going to a bank, the borrower gets a loan from an investor.

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

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