17+1 Assets To Generate Extra Cash Flow In 2024

You don't need to have a strong interest in the financial world to start getting in on different ways to generate some extra income. All you need is the knowledge and the drive to put it into practice!

Income-producing assets are a must when it comes to generating a passive income, though the idea of investing in assets might be a little scary to financial beginners. 

Have no fear though, as in this article, we are going to be looking at eighteen particularly noteworthy income-producing assets that are well worth considering if you are thinking about taking your finances to the next level. Let's get started. 

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1. Building An Online Business

There are so many possibilities when it comes to building your own online business and whilst it can be a lot of work to build an audience, it can lead to a potentially life-changing passive income if your business grows to a significant level of success. 
 

2. Building a Traditional Business

When we talk about traditional businesses, we are referring to brick-and-mortar establishments such as bars and coffee shops. 

This is a costly and time-consuming process, but owning and running a traditional business could significantly amp up your income. 

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3. Savings Accounts 

Putting your money into a saving account is a great asset to produce income on a base level, particularly if you choose the right kind of saving account. 

Interest rates might be low, so the return isn't going to be too substantial, but it is a zero-risk investment that is dependable. 
 

4. Money Market Accounts 

Money market accounts are special kinds of accounts offered by credit unions and banks that can build your money in the same way that a regular savings account does. 

As with a regular savings account, this is will yield low results in terms of a passive income, but it is still a safer investment.
 

5. Rental Properties 

This is a tricky outlet to get into in terms of investment, as - much like with building businesses- you need to have a considerable sum of money to put into it to begin with. 

Real estate rental properties can be a very lucrative market though, as you will build equity on your properties and then sell them later on for profit depending on the state of the housing market at that time. 

6. Dividend Stocks

Investing in the stock market is a particularly popular choice, with various options available such as mutual funds, individual stocks or index funds. 

You get some money simply for investing in stock from certain companies, too, so you immediately get a small payoff. 

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7. Peer-to-Peer Lending

Peer-to-peer lending refers to when money is loaned out via a P2P platform which then generates interest, meaning that you will make back what you lent out and then some. 

This can be a great choice for those needing quick cash without having to deal with too much financial paperwork. 
 

8. Certificates of Deposits 

A certificate of deposit is issued by the bank to the person who is depositing money into an account for a certain amount of time at a certain rate of interest, and these can grow your income as they work similar to a savings account and build interest over time (except that you can't access the money until a specific time). 
 

9. Royalties

There are all kinds of royalties available, but one of the most popular to be found are music royalties, and investing in these royalties is an option. 

A great way to do this is through RoyaltyExchange.com, wherein smaller, up-and-coming royalties can be invested in without you having to break your bank to do so. 

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10. Real Estate Crowdfunding

Real estate crowdfunding can help to alleviate some of the limitations of real estate, such as needing huge sums of money upfront to get started. 

Investors in real estate crowdfunding platforms can choose what they want to invest in based on their personal goals, making for an accessible possible asset. 

11. Bonds

Similar to the aforementioned certificate of deposits, bonds work via loaning out of money to corporations or the government (as opposed to loaning it to the bank as with a CD). 

These bonds include a range of investments, such as stock market bonds, which are generally safer and can balance out your investing portfolio. 

12. Short Term Rentals

Renting out properties for a shorter time can be more profitable for some, and some short-term rentals are definitely an option for an investment asset. 
 

13. Self Storage Units

Renting out storage space is a great investment opportunity if you have extra space that you aren't using. 

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14. Farmland Investment

This might seem like an odd choice, but farmland is certainly a solid and reliable investment opportunity as it is something that we will always need!

Owning farmland and renting it out to farmers can generate a safe income, and it can also make generate profit should you choose to sell it when the value increases. 
 

15. Real Estate Investment Trusts

Rather than investing in real estate as with real estatecrowdfunding or owning properties to rent out, real estate investment trusts revolve around funds operated by companies that already own various properties. 

The money involved in this investment contributes towards the development and purchase of more real estate, allowing you to reap the financial benefits of real estate without the hassle of actually owning the properties. 
 

16. Timberland Investment

Much like with farmland, timberland and forests are something that we will always need, so establishing a timber operation can earn you some big bucks if you have the funds to set it up. 

17. Cryptocurrency

A more recent investment opportunity, cryptocurrency can be held in your digital wallet, but it can also be lent out in order to build on your interest. 

18. Writing Books

Last but not least, if writing is your passion, then why not consider writing a book?

The great thing about books is that you will continue to profit - if it sells well- for years to come, thus creating a long-lasting stream of income.  

Final Thoughts

So there you have eighteen assets that you can invest in to produce some passive cash flow. 

No matter what level of financial investments you are planning to make, you are sure to find an asset that suits your personal financial situation best with our varied list of possible assets for investment.  

Your pay stubs will be a great resource to find out figures needed to calculate net income etc.

Thank you for reading!