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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 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 make 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 some 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 need as much effort in the long run when youre making the money.

What qualifies as passive income is up for discussion. 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 constantly need on-going work, either by yourself or from others that youre paying.  Selling ebooks or classes will need on-going customer service, plus youll need a consistent traffic source in order to continue to create sales. It's possible and there are people who have been in a position to do it , 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 classes in the past. Theyre great ways to make money, I just dont consider these to be passive, in most cases. .

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Nearly any business can be a source of passive income if youre paying other people to run the business. This is true with both online and traditional businesses. This opens up even more chances than what will be recorded here.

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

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Your first financial priority must be to develop an emergency fund that can cover all your living expenses for a couple months. But dont put this money would be 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 get more that will earn a lot 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 1.85% 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 trader, you can re-invest the dividends to purchase more shares of this inventory, or take the dividends in money. Reinvesting will allow you to own more shares, 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. 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 each of the dividends on hold on to this stock for quite a long time, or make use of the income generated throughout the dividends.

For much more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of those shares, visit this collection out of 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 through a website or marketplace. Instead of going to a bank, the debtor receives a loan from an investor.

In some cases the borrower may not have the ability to qualify for a loan via a traditional bank. And in many cases the debtor gets a better interest rate than they might get from a bank. As an investor, you can earn a good return as well.