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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 that it compounds and grows faster. However, with some time, its possible to create enough passive income you could quit your job or retire .

Passive income can be a small divisive topic. In general, passive income is any money you earn without putting in much work. The money will flow in without too much being demanded of you. In some scenarios it might be long-term recurring income, and in other instances it could be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont require 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 post because, in my own opinion, all of them require too much effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from other people that youre paying.  Selling ebooks or classes will require on-going customer support, and youll need a consistent traffic source in order to continue to create sales. It's possible and there are individuals who have been able to get it done passively, but they make up a small percentage of individuals who really set out to do it.

Ive been blogging full-time for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to make money, I just 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. That is true with both online and traditional businesses. That opens up even more possibilities than what will be listed here.

Now lets have a look at a few of the best ways to make passive income. A number of these are investments that will require some money to begin with. Other folks wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont require any money, and then utilize that money that you make to invest. .

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Your first financial priority must be to develop an emergency fund that will cover all your living expenses for a few months. But dont put this money would be a checking or savings account at a local bank which pays you a terrible 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 spouse 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 1.85percent 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 purchase more shares of this inventory, or take the dividends in money. Reinvesting will let you 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. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a terrific 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 through the dividends.

For far more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these stocks, see this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer blog lending (or P2P) is becoming extremely popular in recent years. Borrowers and lenders can be paired up via a website or market. Instead of going to a bank, the debtor receives a loan by an investor.

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