Using alternative income streams to supplement your traditional income is a good way to increase your cash flow. They are also a fun way to spend your time. They can provide you with a higher quality of life in retirement.

How can I make 20k as a passive income?

One way to achieve this is to invest in the stock market. There are many ways to do this. You can buy stocks, government bonds, or even a high-yield savings account.

Another way to achieve this is to start your own small business. You can sell your products and services for a profit. You can also combine your expertise to develop a product or service. Some examples include running an online store.

An annuity is another good way to earn a passive income. They offer tax-deferral, premium protection, and customization through riders and contract provisions.

The best passive income streams will also be beneficial to both the buyer and seller. For example, a long-time streamer could receive consistent funding from their audience. You could also set up a micro-business selling a new and exciting item.

A royalties stream is also a nice option, especially if your product is music. For instance, you can get paid for every album sold, or every time the song is played in public.

However, it’s not easy to make the money. In addition to a substantial initial investment, you will need to be available to manage the property and pay for major repairs.

The biggest problem is that it takes a lot of effort and time to make the most of your investment.