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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 that it compounds and grows quicker. However, with some time, its potential to make enough passive income that 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 you make 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 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 just as much effort in the long run when youre making the money.

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

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Blogging will always need on-going work, either by yourself or from others which youre paying.  Selling ebooks or classes will need on-going customer support, and youll need a consistent traffic supply in order to continue to create sales. It is possible and there are individuals who have been in a position to get it done , but they compose a small percentage of individuals who actually set out to get it done.

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 most cases. .

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Nearly 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. That opens up even more possibilities than that which will be recorded here.

Now lets take a look at some of the next greatest ways to produce passive income. A number of them are investments that will need some money to begin with. Others wont need any money to get started. In case you dont have the money to invest now, consider starting with the methods that dont require any money, and then utilize that money that you make to invest. .

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Your very 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 that pays you a terrible 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 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 simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a trader, 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 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. 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 all the dividends on hold on to this stock for a long time, or use the income produced throughout the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a list of those shares, 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. Creditors and lenders can be paired up via a website or market. Instead of going to a bank, the debtor receives a loan from an investor.

In some situations the borrower go may not be able to qualify for a loan through a traditional bank. And in many cases the borrower gets a much better interest rate than they might receive from a bank. As an investor, you can earn a great return as well.

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