They say a typical millionaire has around 7 sources of income. What ways to make a passive income?

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They say a typical millionaire has around 7 sources of income. What are some simple ways to make a passive income whilst you sleep

One of the best ways to obtain passive income is through bonds. But you should not look at government bonds.

It is better to focus on corporate income bonds since they pay higher rates of return. Another mistake I see is often investors only will consider publicly traded bonds when private corporate debt can pay far higher rates. Many are simply so fearful and value liquidity so much that it drives them to accept low rates, sometimes even negative real rates of return. Actually for these sorts of investors are vulnerable to panic trading where they take one position and then change it frequently lower liquidity can help their returns as less money is burned up in trading fees.

Unfortunately, many investors limit their options to what they can easily buy from their online accountant instead of looking outside of the pre-selected investments made available to them through their brokerage.

So, consider private company bonds. You still need to do your due diligence on the company and management but this can be a great way to get passive income that is overlooked by so many investors who just without thinking buy low-paying, often negative real return government bonds.

Another good source is a limited partner in an experienced multifamily investors syndicate. This is one where the general partner has a contract to purchase a 30 million apartment complex but still needs to raise 10 million. You can contribute as little as 100,000 and then invest in this sort of syndicate. These often pay passive income during the holding period and may double your initial capital at 3 to 7 years out. For example, you invest 100K then get 6% per year passive and at the exit, you get the initial 100K back and another 100K.

I hope that helps and good luck with your investing!