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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so it compounds and grows faster. But with some time, its possible to make enough passive income that 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 that you earn without putting in much effort. The money will flow in without too much being demanded of you. In some cases 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.

What qualifies as passive income is up for debate. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my own opinion, all of them require an excessive amount of effort to be considered as passive.

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Blogging will always 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 people who have been able to do it passively, but they make up a small percentage of people who really set out to do it.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to make money, I just dont consider these 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. This opens up even more chances than that which will be recorded here.

Now lets take a look at a few of the greatest ways to make passive income. Some of them are investments which will need some money to begin with. Others wont require any money to begin. In case you dont have the money to invest now, try starting with the methods that dont require any money, and then utilize that money you make to invest. .

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Your first financial priority must be to develop an emergency fund that will cover all of your living expenses for a few 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 greater 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 1.85% 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 website link shares of the inventory, or take the dividends in money. Reinvesting will let you 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 the stock for quite a long time, or make use of the income produced through the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of these 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 decades. Creditors and lenders can be matched up via a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

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

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