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Initially you may only be making a small amount of money passively, and you might even want to re-invest that money so that it compounds and grows faster. But with a few time, its possible to create enough passive income you could quit your job or retire early.

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Passive income can be a bit of a 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 cases it could be long-term recurring income, and in other cases it might be short lived or inconsistent.

In some circumstances 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.

What qualifies as passive income is up for debate. 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 post because, in my own opinion, they all require too much effort to be considered as passive.

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Blogging will always require on-going work, either by yourself or by other people that 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's possible and there are individuals who have been able to get it done , but they make up a small percentage of individuals who actually set out to get it done.

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

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

Now lets have a peek at a few of the greatest ways to make passive income. Some of them are investments that will require some money to begin with. Other folks wont need any money to get started. If you dont have the money to invest now, try starting with the approaches that dont require any money, and then utilize that money you earn to invest. .

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Your very official source first financial priority should 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 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 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 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast 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 buy more shares of the inventory, or take the dividends in money. Reinvesting will allow you to own more stocks, 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 history 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 each the dividends on hold on to this stock for a long time, or make use of the income produced through the dividends.

For much more detail on the subject read Investing in Dividend Stocks at 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 years. Borrowers and lenders can be matched up through a website or marketplace. Instead of going to a bank, the borrower gets a loan from an investor.

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

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