Income-producing assets are those assets that can generate income. We are talking about a business, stocks, or real estate, and these are all places you can invest your money to create more income.
You cannot go wrong with buying dividend-paying stocks. A dividend is a share of the profit from the company, and the company usually will pay dividends quarterly to its shareholders.
An index fund is a type of passive mutual fund that tracks a particular index. VTSAX is a great index fund. This index fund tracks the entire U.S. market.
This one is what a lot of people enjoy doing. You can easily create a bit of real estate empire that brings you enough money to replace your job.
REITs are for those people that like the idea of real estate and like cash flow as well. A REIT is a Real Estate Investment Trust. It is a big company that buys a bunch of properties and rents them out.
You can rent these out if you have a house, a spare bedroom, or even a garage apartment. Airbnb is a big company that was able to make share rooms a great business.
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