“Make money while you sleep.” “Have your money make money for you.” The slogans around passive income are tantalizing. But what’s the truth behind this concept? Can people really secure and rely on trustworthy passive income sources, or is this alluring idea more hype than reality?
What is passive income? Technically speaking, passive income is any sort of money coming in without active effort. There are many niche types of passive income which can be generated from things as diverse as mineral royalty streams, fractional ownerships in farms, peer-to-peer lending, rented-out parking spaces, music recording royalties, and a multitude of other such off-the-beaten-path opportunities.
Here are five of the best passive income ideas for 2024 and 2025.
This post originally appeared at U.S. News & World Report.