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At first you may only be making a small 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 .

Passive income can be a small divisive topic. In general, passive income is any money you make without putting in much work. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in 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 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 thoughts in this post because, in my opinion, they all require too much effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or from others which youre paying.  Selling ebooks or courses will require on-going customer support, and youll need a consistent traffic supply in order to continue to make sales. It is possible and there are people who've been able to do it passively, but they make up a small percentage of individuals who really set out to get it done.

Ive been blogging fulltime for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to make money, I simply dont consider these to be passive, in the majority of cases. .

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

Now lets have a look at some of the greatest ways to produce passive income. Some of them are investments which will require some money to begin with. Other folks wont require 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 use that money that you earn to invest. .

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Your very first financial priority must be to build up an emergency fund that can cover all of your living expenses for a couple months. But dont put this money is a checking account or savings account at a local bank which pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a lot better 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 1.85percent 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 inventory, or take the dividends in cash. Reinvesting will let you own more shares, which leads to greater dividends in the future (ideally).

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The companies that consistently pay dividends tend to be large companies check this with a long track record 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 terrific investment regardless of whether you want to reinvest each the dividends on hold on to the stock for quite a long time, or make use of the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks in 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. Creditors and lenders can be matched up via a site or market. Instead of going to a bank, the borrower gets a loan by an investor.

In some cases the borrower may not be able to be eligible for a loan through a traditional bank. And in many cases the borrower gets a better interest rate than they might get from a bank. As an investor, you can earn a good return as well.