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Initially you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that 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 earn without putting in much effort. The money will flow in without too much being required of you. In some scenarios it could be long-term recurring income, and in some other cases it could be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require as much effort in the future when youre making the money.

What qualifies as passive income is up for debate. 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 opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from other people that youre paying.  Selling ebooks or courses will need on-going customer support, and youll need a consistent traffic source in order to continue to create sales. It is possible and there are people who've been in a position to do it passively, but they make up a small percentage of people who really set out to do it.

Ive been blogging full-time for ten years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I simply dont consider these to be more passive, in the majority of 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. 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 a few of the best ways to produce passive income. A number of these are investments that will need some money to begin with. Others wont require any money to begin. If you dont have the money to invest now, try starting with the methods that dont need any money, and then utilize that money you make to invest. .

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Your 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 would be 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 that will earn a much better return for you.

My spouse 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 shareholder, you can re-invest the dividends to buy more shares of this stock, or take the dividends official website 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 exchange in general.

Dividend stocks can be a terrific investment regardless of whether you want to reinvest all of the dividends on hold on to this stock for a long time, or make use of the income generated through the dividends.

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. To get a list of these stocks, see this collection from 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 via a site or marketplace. Instead of going to a bank, the borrower receives a loan from an investor.

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

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