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At first you may only be making a tiny amount of money passively, and you might even want to re-invest that money so that it compounds and grows quicker. But with a few time, its possible to make 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 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 some other cases it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need 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 such as blogging, writing e-books, or creating your own course. Im not including those thoughts 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 others that youre paying.  Selling ebooks or courses will require on-going customer service, plus youll need a consistent traffic source in order to continue to make sales. It is possible and there are people who have been able to get it done passively, 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 classes in the past. Theyre great ways to earn 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 when youre paying other people 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 have a look at some of the greatest ways to make passive income. Some of them are investments which will require some money to begin with. Others wont need 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 use that money you make 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 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 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 1.85percent 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 for their shareholders. As a trader, you can re-invest the dividends to buy more shares of the stock, 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 go now 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 terrific investment regardless of whether you want to reinvest all of the dividends on hold on to this stock for a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks in Investopedia. For a the original source list of these shares, visit this collection from Dividend.com and this collection from DividendValueBuilder.com.

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

In some cases the borrower might not be able to be eligible for a loan via 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 good return as well.