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At first you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. However, with a few time, its potential to create enough passive income 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 you earn without putting in much effort. 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 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.

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 own opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from other people that youre paying.  Selling ebooks or classes will need on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It is possible and there are people who have been able to do it passively, but they compose a small percentage of people who really set out to get it done.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to make 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 if youre paying other people 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 take a look at some of the best ways to produce passive income. A number of them are investments which will require some money to start with. Other folks wont need any money to begin. If go to the website you dont have the money to invest now, try starting with the methods that dont need any money, and then utilize that money that you make to invest. .

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Your first financial priority should be to develop an emergency fund that will cover all of your living expenses for a couple months. But dont put this money would be 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 which will earn a much greater return for you.

My spouse 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 purchase more shares of this stock, or take the dividends in cash. Reinvesting will let you own more stocks, which leads 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 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 terrific investment regardless of whether you want to reinvest all the dividends on hold on to this stock for a long time, or use the income generated through the dividends.

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. For a list of those stocks, 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 years. Borrowers and lenders can be paired up through a site or marketplace. Instead of going to a bank, the borrower gets a loan by an investor.

In some situations the borrower might not have the ability to qualify for a loan via a traditional bank. And in many cases the borrower gets a much better interest rate than they could get from a bank. As an a fantastic read investor, you can earn a great return too.

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