Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.   In this episode, Travis explains how passive income is the key to accumulating wealth. He provides examples of different types of passive investments you can make, highlights the top three reasons why someone might consider passive income, and uses a scenario to demonstrate how generating passive income can be truly life-changing.    Types of Passive Investments   Passive investing doesn’t just apply to real estate. There are many different options for earning passive income:   Owning a business without actively working in that business. Owning a rental property that is professionally managed by someone other than you. Purchasing a dividend-paying stock where you make the investment once and just sit back and collect the dividends.  Investing in real estate as a limited partner. Publishing a book from which you receive royalties for years to come.  Making an oil and gas investment and making profits off of oil production. Lending money to someone and charging interest.  Having a whole life insurance policy that is paying an annual dividend to you.    3 Reasons to Consider Passive Income   1. Taxes Long-term capital gains, qualified dividends, real estate — these are tax-advantaged places to put your money.     2. Time Passive income allows you to do more of the things you love and less of the things you don’t.      3. Scalability It’s much easier to make more investments and keep adding to your portfolio than it is to keep adding time onto your plate and working more and more. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant