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

Passive income can be a bit of a divisive topic. In general, passive income is any money you make without putting in much effort. The money will flow in without too much being required of you. In some cases it might be long-term recurring income, and in some other cases it could 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 such as blogging, writing e-books, or creating your own course. Im not including those ideas in this post 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 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's possible and there are people who've been able to get it done passively, but they compose a small percentage of people who really set out to do it.

Ive been blogging fulltime for ten decades 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 most cases. .

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

Now lets take a look at a few of the best ways to make passive income. Some of these are investments that will require some money to start with. Others wont need any money to get started. If you dont have the money go to my blog to invest now, try starting with the methods that dont need any money, and then utilize that money you earn to invest. .

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Your first financial priority should be to build up an emergency fund that can cover all your living expenses for a couple 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 that will earn a much greater return for you.

My wife 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 1.85% 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 this stock, or take the dividends in money. Reinvesting will allow you to own more stocks, which leads to greater dividends in helpful site the future (ideally).

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The companies that consistently pay dividends tend to be large companies with a long track record 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 great investment whether or not you want to reinvest all the dividends on hold on to the stock for quite a long time, or make use of the income produced throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of these stocks, visit this collection from 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. Creditors and lenders can be matched up via a website or market. Instead of going to a bank, the debtor gets a loan by an investor.

In some cases the additional info 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 receive from a bank. As an investor, you can earn a good return as well.