The following is a non-exhaustive list of sources of passive income which potentially yields financial independence. This list is about planting the seed in your head of different passive income types but this list is more to give ideas.
- Rental property
- Dividends from stocks, bonds and income trusts
- Bank fixed deposits and monthly income schemes
- Royalty from creative works, e.g. photographs, books, patents, music, etc.
- Interest earned from deposit accounts, money market accounts or loans
- Oil leases
- Notes
- Business ownership (if your business does not require you to operate it)
- Patent licensing
- Trust deed (real estate)
- Life annuity
- Pensions
- Vending machines
- Storage Units
- Lending money
- Rent Your Space
- Any type of rental business
