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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. But with some time, its possible to make enough passive income that you could quit your job or retire early.

Passive income can be a small 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 scenarios it could be long-term recurring income, and in 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 long run when youre making the money.

What qualifies as passive income is up for discussion. 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, they all require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or by other people which youre paying.  Selling ebooks or classes will require on-going customer support, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who have been in a position to get it done , 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 courses in the past. Theyre great ways to make money, I simply dont consider them to be more passive, in the majority of cases. .

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Just about 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 some of the greatest ways to make passive income. Some of these are investments that will need some money to start with. Other folks wont require any money to begin. If you dont have the money to invest now, try starting with the approaches that dont require any money, and then use that money that you earn to invest. .

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Your first financial priority should be to build up an emergency fund that will 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 which will earn a lot 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 quick and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, 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 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 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 regardless of whether you want to reinvest each of the dividends on hold on to this stock for a long time, or use the income produced through the dividends.

For much helpful site more detail on the topic read Investing in Dividend Stocks at Investopedia. To get 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. Creditors and lenders can be paired up through a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

In some cases the borrower might not be able to be eligible for a loan via a traditional bank. And in many cases 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.