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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. But with a few time, its potential to create enough passive income 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 required of you. In some cases it could 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 require as much effort in the future when youre making the money.

What qualifies as passive income is up for discussion. Most lists which youll find online will include things like blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my own opinion, they all require too much effort to be considered as passive.

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

Ive been blogging full-time for ten years and Ive sold ebooks and courses in the past. Theyre great ways to earn money, I just dont consider these to be passive, in the majority of cases. .

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Just about any business can be a source of passive income if youre paying others to run the business. This 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 a few of the best ways to make passive income. Some of them are investments which will need some money to begin with. Others wont require 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 use that money you earn to invest. .

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Your first financial priority must be to build up an emergency fund that will cover all of your living expenses for a few months. But dont put this money is a checking 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 which 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 shareholder, you can re-invest the dividends to buy more shares of this inventory, or take the dividends in money. Reinvesting will allow you to own more stocks, which contributes to more 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 great investment whether or not you want to reinvest each the dividends on hold on to the stock for quite a long time, or use the income produced throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks in Investopedia. For a list of those stocks, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) about his has become extremely popular in recent years. Borrowers and lenders can be paired up via a site or marketplace. Instead of going to a bank, the debtor gets a loan by an investor.

In some cases the borrower might not be able to qualify for a loan via 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.