Create Passive Income
“The happiest people I’ve seen during retirement are those who have set up passive income streams during their working lives,” said Mike Scanlin, CEO of Born To Sell. “Saving is good, but investing in things that produce income is way, way better.”
You don’t have to have a ton of capital or real estate to bring in passive income during retirement, either. “Passive income can come from anything that brings in a monthly or quarterly check,” said Scanlin. “This includes real estate; oil and gas wells; MLPs; covered calls on blue chip, dividend-paying stocks; and owning content-based websites — that are ad and affiliate supported — or bonds, although those don’t pay as much these days.”