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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 it compounds and grows quicker. However, with a few time, its potential 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 required of you. In some cases it might be long-term recurring income, and in other cases it might be short lived or inconsistent.

In some cases youll need to put in some effort up front, but then it wont need as much effort in the long run when youre making the money.

Exactly 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 post because, in my 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 by other people which youre paying.  Selling ebooks or courses will require on-going customer support, plus youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals who have been in a position to get it done , but they compose a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for 10 years and Ive sold ebooks and courses 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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Nearly 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. That opens up even more chances than what will be listed here.

Now lets have a peek at some of the greatest ways to make passive income. Some of these are investments which will require some money to begin with. Others wont need any money to begin. If you dont have the money to invest now, try starting with the methods that dont require any money, and then utilize 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 few months. But dont put this money would be a checking account or savings account at a local bank that 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 lot greater 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 quick and easy, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of the inventory, or take the dividends in money. Reinvesting will let you own more shares, 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 terrific investment regardless of whether you want to reinvest each of the dividends on hold on to this stock for a long time, or make use of the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks at Investopedia. For 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) is becoming extremely popular in recent years. Borrowers and lenders can be paired up through a check it out site or market. Instead of going to a bank, the debtor receives a loan by an investor.

In some cases the borrower might not have the ability to be eligible for a loan through 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 great return as well.