Top 10 Best Passive Income Investments for Financial Freedom

Dreaming of earning money while you sleep?

Dive into our guide on the top 10 passive income investments that can help turn your financial freedom dreams into reality, with options ranging from dividend stocks to rental properties.

 

Updated April 2024
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Fact checked by John Wayman
Fat cat businessman letting his passive income flow in

Introduction

In today’s fast-paced world, financial freedom is a goal many strive for, and passive income is often the key to unlocking this freedom. Passive income, in its essence, refers to earnings derived from ventures in which an individual is not actively involved. Unlike active income, which requires one’s direct involvement and time, passive income streams generate revenue on their own, allowing you to earn money with minimal daily effort.

What is Passive Income?

Passive income includes earnings from investments such as rental properties, dividends from stocks, interest on savings, and profits from business ventures that do not require your day-to-day involvement. The allure of passive income lies in its ability to provide financial security and freedom, enabling individuals to accumulate wealth without being tied down by traditional work constraints.

The Importance of Passive Income for Financial Freedom

Achieving financial freedom means having enough residual income to cover your living expenses without needing to work full time. Passive income is critical in this equation as it allows you to focus on what you’re passionate about without worrying about financial sustainability. It acts as a safety net, offering both stability and opportunities for growth.

Overview of the Criteria for Ranking These Investments

When considering passive income investments, it’s crucial to evaluate them based on several key factors to determine their suitability for your financial goals. These criteria include:

  • Risk Level: Understanding the inherent risk in any investment is vital. The risk level indicates the potential for loss and should align with your risk tolerance.
  • Initial Investment Required: This refers to the upfront capital needed to start generating passive income. Investments can range from low to high initial costs, affecting their accessibility.
  • Potential Returns: The expected income from the investment is a critical consideration. Higher potential returns often come with higher risk.
  • Liquidity: Liquidity measures how easily an investment can be converted into cash without significantly impacting its value. High liquidity is essential for those who may need access to their funds quickly.

By carefully examining these investments through the lens of risk, initial investment, potential returns, and liquidity, individuals can make informed decisions that align with their financial objectives and risk tolerance, paving the way to financial freedom.

Before diving into the specifics of each investment type, let’s take a quick glance at a comparative overview. The table below ranks the top 10 best passive income investments based on key factors such as risk level, initial investment required, potential returns, and liquidity. This will give you a snapshot of what to expect from each option, helping you align your investment choices with your financial goals, risk tolerance, and available capital. Whether you’re looking for a low-risk way to start earning passive income or seeking higher returns through more substantial investments, this table serves as your guide to making informed decisions in your journey towards financial freedom.

Investment Type Risk Level Initial Investment Required Potential Returns Liquidity
Dividend Stocks Moderate Low to Moderate Moderate to High High
Real Estate Investment Trusts (REITs) Moderate Low Moderate to High High
Peer-to-Peer Lending High Low Moderate to High Low
Rental Properties High High High Low
High-Yield Savings Accounts and CDs Low Low Low High
Crowdfunded Real Estate Moderate to High Low to Moderate Moderate to High Low
Royalties Variable Moderate to High Variable Low
Bonds Low to Moderate Low Low High
Index Funds and ETFs Low to Moderate Low Moderate High
Creating a Product or Business High Variable High Low
Couple happy from passive income

1. Dividend Stocks

Description of Dividend Stocks

Dividend stocks represent shares in companies that pay out a portion of their earnings to shareholders on a regular basis, usually quarterly. These payments, known as dividends, are typically made from the company’s profits, and the amount each shareholder receives is proportional to the number of shares they own. Dividend stocks are often seen as a sign of a company’s financial health and stability, as they indicate a consistent ability to generate profits and share them with shareholders.

Benefits and Potential Returns

Investing in dividend stocks comes with several key benefits. Firstly, they provide a steady stream of income, which can be particularly appealing for long-term investors and those seeking to generate passive income. This income can be reinvested to purchase additional shares, compounding the investment’s growth over time. Additionally, dividend stocks tend to be less volatile than non-dividend-paying stocks, offering a more stable investment option. The potential returns from dividend stocks can be twofold: the regular dividend payments and the capital appreciation of the stock itself over time.

How to Get Started with Investing in Dividend Stocks

Getting started with dividend stock investing begins with research. Investors should look for companies with a long history of paying dividends, a stable payout ratio, and the potential for future growth. Here are some steps to follow:

  1. Open a brokerage account: Choose a reputable online broker that aligns with your investment goals and offers a wide selection of dividend-paying stocks.
  2. Do your homework: Look for companies with strong fundamentals, a consistent dividend payment history, and a healthy dividend yield that exceeds average savings account rates without being unsustainably high.
  3. Diversify your portfolio: Invest in dividend stocks across different sectors to mitigate risk.
  4. Consider dividend reinvestment plans (DRIPs): Many companies offer DRIPs, allowing investors to automatically reinvest their dividends into additional shares, often without commission, facilitating the compounding effect.
  5. Monitor your investments: Keep an eye on your dividend stocks and the companies behind them to ensure they continue to meet your investment criteria.

By following these steps and conducting thorough research, investors can begin to build a portfolio of dividend stocks aimed at generating passive income and achieving long-term financial growth.

2. Real Estate Investment Trusts (REITs)

Explanation of REITs and How They Work

Real Estate Investment Trusts (REITs) are companies that own, operate, or finance income-generating real estate across a range of property sectors. These can include shopping malls, office buildings, apartments, and hotels. REITs allow individuals to invest in portfolios of real estate assets the same way they invest in other industries – through the purchase of individual company stock or through a mutual fund or exchange-traded fund (ETF). By law, REITs must pay out at least 90% of their taxable income to shareholders in the form of dividends, making them a popular choice for income-seeking investors.

Advantages of Investing in REITs

Investing in REITs offers several advantages. Firstly, they provide a way for individual investors to gain exposure to real estate without having to buy, manage, or finance properties themselves. This makes it an accessible entry point into the real estate market. Additionally, REITs often offer high dividend yields compared to other equities, due to their requirement to distribute most of their income as dividends. They also offer diversification benefits to an investment portfolio, as real estate typically has a low correlation with other asset classes. Finally, investing in REITs offers liquidity, as shares can be bought and sold on major stock exchanges.

Considerations for Investors

While REITs can be an attractive investment option, there are several considerations investors should take into account:

  • Market Volatility: Like all stocks, REIT shares can be volatile in the short term. Economic factors that impact the real estate market, such as interest rates and the health of the economy, can affect REIT prices and dividends.
  • Interest Rate Sensitivity: REITs are particularly sensitive to changes in interest rates. When rates rise, financing costs for real estate increase, which can reduce profit margins and dividends. Conversely, lower interest rates can be beneficial.
  • Diversification: While REITs themselves offer diversification within the real estate sector, investors should also seek to diversify across other asset classes to manage risk effectively.
  • Tax Considerations: The dividends paid by REITs are taxed as ordinary income, which can be at a higher rate than the qualified dividends paid by many other stocks. This tax treatment can affect the overall return on investment.

Investors interested in REITs should carefully research individual trusts, considering their performance, management, and the sectors of real estate they invest in, to ensure they align with their investment goals and risk tolerance.

3. Peer-to-Peer Lending

Overview of Peer-to-Peer Lending Platforms

Peer-to-peer (P2P) lending platforms connect individual borrowers directly with investors, bypassing traditional financial institutions like banks. These platforms offer an online marketplace where investors can fund loans to individuals or small businesses in exchange for interest payments, along with the repayment of principal upon maturity. P2P lending offers an alternative investment opportunity with the potential for higher returns compared to traditional savings and investment products. Platforms typically categorize loans by risk, with higher-risk loans offering higher potential returns.

Risks and Rewards

Risks: The primary risk associated with P2P lending is the risk of default by borrowers, which can result in partial or total loss of the invested capital. While platforms assess borrower creditworthiness and assign risk categories, there is no guarantee against losses. Additionally, P2P investments are not insured by government agencies, unlike bank deposits. Market risks and platform risks, including the possibility of platform failure, also need to be considered.

Rewards: The main reward of P2P lending is the potential for higher returns compared to traditional fixed-income investments. By directly connecting borrowers and investors, P2P platforms can offer more competitive interest rates — higher for investors and lower for borrowers than those offered by traditional banks. Investors can also benefit from diversification by spreading their investment across multiple loans with varying risk levels and interest rates.

How to Choose the Right Platform and Loans to Invest In

  1. Research Platforms: Start by researching and comparing P2P lending platforms. Look for platforms with a strong track record, transparency in loan listings, and robust credit assessment procedures. Consider the platform’s fees, terms of use, and the level of customer support provided.
  2. Understand the Risks: Evaluate the risk assessment methods used by the platform and understand the default rates for different loan categories. Assess your risk tolerance and decide which loan categories align with your investment goals.
  3. Diversify Your Investments: Minimize risk by diversifying your investments across multiple loans and risk categories. Avoid putting all your capital into a single loan or borrower.
  4. Review Loan Listings: Carefully review the details of loan listings on the platform, including the purpose of the loan, the borrower’s credit rating, the interest rate, and the loan term. Use this information to make informed decisions about which loans to invest in.
  5. Monitor Your Investments: Regularly monitor the performance of your loans and the overall health of your P2P lending portfolio. Be prepared to adjust your strategy based on performance and market conditions.

By following these steps and conducting thorough due diligence, investors can navigate the P2P lending market to potentially achieve higher returns while managing the associated risks.

4. Rental Properties

The Appeal of Owning Rental Properties for Passive Income

Owning rental properties is a time-tested way to generate passive income. This investment strategy involves purchasing real estate properties—such as residential homes, apartments, or commercial spaces—and leasing them to tenants. The appeal lies in the dual potential for earning steady monthly rental income and benefiting from long-term property appreciation. Real estate is often viewed as a relatively stable investment, with rental demand typically remaining strong even during economic downturns. Additionally, property owners can leverage tax advantages, such as deductions for mortgage interest, property taxes, maintenance costs, and depreciation.

Challenges and How to Mitigate Them

Despite the appealing aspects, rental property ownership comes with its challenges. These include dealing with difficult tenants, vacancies, maintenance issues, and fluctuating market conditions that can impact rental income and property values. To mitigate these challenges, investors should:

  • Conduct thorough tenant screenings to find reliable tenants.
  • Maintain an emergency fund to cover unexpected repairs or vacancies.
  • Stay informed about the local real estate market to adjust rental rates accordingly.
  • Understand and comply with landlord-tenant laws to avoid legal issues.
  • Invest in landlord insurance to protect against potential liabilities.

Tips for Successful Property Management

Effective property management is crucial for maximizing the returns on your rental property investment. Here are some tips to help you succeed:

  1. Be proactive with maintenance: Regularly inspect your property and address maintenance issues promptly to prevent small problems from becoming expensive repairs.
  2. Build a network of reliable contractors: Having a go-to list of electricians, plumbers, and handymen can save time and ensure quality work.
  3. Communicate effectively with tenants: Establish clear lines of communication. Be responsive to tenant inquiries and concerns to maintain positive landlord-tenant relationships.
  4. Utilize property management software: Technology can streamline operations, from collecting rent online to tracking expenses and managing maintenance requests.
  5. Consider hiring a property manager: If managing the property becomes too time-consuming or you invest in out-of-state properties, a professional property manager can handle day-to-day operations for a fee.

By understanding the appeal, acknowledging the challenges, and implementing effective management strategies, investors can make rental properties a profitable and rewarding component of their passive income portfolio.

5. High-Yield Savings Accounts and CDs

Explanation of High-Yield Savings Accounts and Certificates of Deposit

High-yield savings accounts and Certificates of Deposit (CDs) are two types of savings vehicles offered by banks and credit unions that typically offer higher interest rates compared to traditional savings accounts. High-yield savings accounts provide flexibility with no fixed term, allowing depositors to add or withdraw funds while earning a higher interest rate. Certificates of Deposit (CDs), on the other hand, require savers to lock in their money for a predetermined period, ranging from a few months to several years, usually offering higher interest rates in return for this commitment.

Comparing Returns to Traditional Savings Accounts

Both high-yield savings accounts and CDs offer more attractive returns than traditional savings accounts. The interest rates for traditional savings accounts are often quite low, barely keeping pace with inflation, if at all. In contrast, high-yield savings accounts and CDs can offer rates several times higher, depending on the financial institution and market conditions. This difference can significantly impact the growth of your savings over time, making these options appealing for those looking to maximize their earnings on idle cash.

Ideal for Conservative Investors

High-yield savings accounts and CDs are particularly well-suited for conservative investors who prioritize capital preservation but are seeking returns slightly above those offered by traditional bank accounts. These savings vehicles are low-risk, as they are typically insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA) up to certain limits, providing a safe haven for your money. They offer a predictable, albeit modest, return, making them an excellent choice for building an emergency fund, saving for short-term goals, or simply holding part of your investment portfolio in a low-risk asset.

For investors wary of the volatility in the stock or real estate markets, these savings options provide a stable, worry-free approach to growing savings with minimal risk.

6. Crowdfunded Real Estate

Introduction to Crowdfunded Real Estate Investing

Crowdfunded real estate investing is a modern way to invest in property without the need to buy or manage it directly. This approach allows investors to pool their money together, typically through an online platform, to invest in a variety of real estate projects, from commercial developments to residential properties. It democratizes access to real estate investments, making it possible for individuals to participate in the market with significantly lower amounts of capital than would be required if purchasing property outright.

Pros and Cons Compared to Traditional Real Estate Investments

Pros:

  • Accessibility: Crowdfunded real estate lowers the barrier to entry for real estate investment, requiring much smaller initial investments.
  • Diversification: Investors can spread their investment across multiple projects, reducing the risk associated with traditional real estate investments.
  • Passive Income: Like traditional real estate investments, crowdfunded projects can provide a steady income stream from rent or interest payments, as well as potential appreciation in value.
  • Professional Management: Projects are typically managed by experienced real estate professionals, reducing the burden of property management for investors.

Cons:

  • Liquidity: Investments in crowdfunded real estate projects are usually illiquid, with capital tied up for the duration of the project.
  • Risk: There’s a risk of project failure, which can impact expected returns. Additionally, the lack of control over the investment can be a drawback for some investors.
  • Fees: Crowdfunding platforms may charge fees for managing the investment, which can eat into overall returns.

How to Participate in Crowdfunding Real Estate Projects

  1. Research Platforms: Start by researching and comparing various crowdfunded real estate platforms. Look for platforms that are reputable and have a track record of successful projects.
  2. Understand the Deals: Each project will have its own set of details, including expected returns, timelines, and the structure of the investment. Make sure you understand these fully before investing.
  3. Assess Your Risk Tolerance: Evaluate your own risk tolerance and investment goals to select projects that align with your financial objectives.
  4. Start Small: If you’re new to crowdfunded real estate investing, consider starting with a small investment to familiarize yourself with the process and risks involved.
  5. Monitor Your Investments: Keep track of your investments and any communications from the crowdfunding platform regarding the progress of projects you’ve invested in.

By carefully considering the pros and cons and conducting thorough due diligence, investors can leverage crowdfunded real estate as a way to diversify their investment portfolio and gain exposure to the real estate market with a lower capital commitment.

7. Royalties

How Investing in Royalties Works (Music, Patents, etc.)

Investing in royalties involves earning a share of the income generated from intellectual property (IP), such as music tracks, patents, trademarks, or literary works. When you invest in royalties, you essentially buy the rights to receive a portion of the earnings from the use or sale of the IP. For example, in the music industry, this could mean earning a percentage of the revenue each time a song is downloaded, streamed, or played publicly. Similarly, investing in patents could yield returns whenever the patented technology is used or licensed.

Potential for Passive Income

The potential for passive income from royalties is significant, particularly because it can offer a steady income stream over a long period. The duration of income can vary widely depending on the type of IP; for example, copyright in music can last for 70 years after the death of the creator, offering a potentially long-term income stream. The amount of passive income generated from royalties depends on the popularity and usage of the IP. High-demand works can generate substantial returns, making them an attractive option for passive income investors.

How to Buy and Sell Royalty Interests

  1. Research Platforms and Marketplaces: Several online platforms and marketplaces specialize in the buying and selling of royalty interests. These platforms provide access to various types of royalties, including music, patents, and other forms of IP.
  2. Due Diligence: Before investing, conduct thorough research into the potential returns, the history of earnings from the IP, and any legal rights or limitations associated with the royalty. Understanding the market demand for the IP is crucial.
  3. Understand the Terms: Each royalty investment comes with its own set of terms and conditions, including the duration of the investment, the percentage of earnings you’re entitled to, and how earnings are calculated and distributed.
  4. Start Investing: Once you’ve selected a royalty interest to invest in, you can proceed with the purchase through the platform or marketplace. The investment could be a one-time payment for a share of the future earnings or an auction for the rights to a piece of IP.
  5. Monitor Your Investments: Keep track of your royalty earnings and the performance of the IP. Some platforms offer tools and analytics to help investors monitor their investments.

Investing in royalties can be a unique and lucrative way to generate passive income, especially for those interested in creative works or innovative technologies. However, like all investments, it’s important to conduct thorough research and consider the risks before diving in.

8. Bonds

Basics of Bond Investing

Bonds are fixed-income investments where an investor loans money to an entity (typically corporate or governmental) which borrows the funds for a defined period at a variable or fixed interest rate. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. When you purchase a bond, you are essentially lending money to the issuer in exchange for periodic interest payments and the return of the bond’s face value when it matures. Bonds are considered a relatively safe investment compared to stocks, making them an essential part of a diversified investment portfolio.

Types of Bonds and Their Respective Risks and Returns

  • Government Bonds: Issued by national governments, these are considered low-risk, especially those issued by stable governments. Returns are generally lower to reflect the lower risk.
  • Municipal Bonds: Issued by states, cities, or other local government entities, these bonds often offer tax-free interest income but carry a slightly higher risk than government bonds.
  • Corporate Bonds: Issued by companies, these bonds typically offer higher returns than government and municipal bonds, reflecting the higher risk associated with corporate financial health and market conditions.
  • High-Yield Bonds: Also known as “junk” bonds, these are issued by entities with lower credit ratings and offer higher returns to compensate for the increased risk of default.
  • International Bonds: Issued by foreign governments or corporations, these bonds can offer diversification and potentially higher returns but come with risks related to currency fluctuations and geopolitical factors.

Strategy for Adding Bonds to Your Investment Portfolio

  1. Assess Your Risk Tolerance and Investment Goals: Determine how much risk you are willing to take and what you are looking to achieve with your investments. This assessment will guide the type of bonds you should consider.
  2. Diversify Across Different Types of Bonds: Just as with stocks, diversification within your bond investments can reduce risk. Consider a mix of government, municipal, corporate, and international bonds based on your risk tolerance.
  3. Consider Bond Funds: For investors who prefer not to select individual bonds, bond mutual funds and exchange-traded funds (ETFs) offer a way to invest in a diversified portfolio of bonds managed by professionals.
  4. Pay Attention to Interest Rates: Since bond prices typically move inversely to interest rates, it’s important to consider the current and expected future interest rate environment when investing in bonds.
  5. Review Duration and Maturity: Bonds with longer durations are more sensitive to interest rate changes. Depending on your investment horizon, choose bonds or bond funds with durations that align with your goals.

By incorporating bonds into your investment strategy, you can achieve a balanced portfolio that includes both the growth potential of stocks and the stability of fixed-income investments.

9. Index Funds and ETFs

Explanation of Index Funds and ETFs

Index funds and Exchange-Traded Funds (ETFs) are types of mutual funds designed to track the performance of a specific index, such as the S&P 500, Dow Jones Industrial Average, or other market benchmarks. An index fund is a portfolio of stocks or bonds designed to mimic the composition and performance of a financial market index. ETFs operate similarly but are traded on stock exchanges like individual stocks, offering the flexibility to buy and sell shares throughout the trading day at market prices.

Why They’re Considered Passive Investments

Index funds and ETFs are considered passive investments because they aim to replicate the performance of their benchmarks, rather than outperform them. This strategy contrasts with active management, where fund managers make specific investments with the goal of beating the market. Passive investing minimizes the costs associated with frequent buying and selling and typically results in lower expense ratios for investors. Additionally, because they simply follow the market index, index funds and ETFs tend to be more transparent and predictable in terms of their holdings.

How to Select the Right Funds for Your Investment Goals

  1. Define Your Investment Goals and Time Horizon: Understanding your financial objectives and how long you plan to invest can help narrow down the choice of index funds and ETFs that align with your needs.
  2. Consider the Fund’s Track Record: Look for funds that have consistently matched or slightly outperformed their benchmarks over a reasonable period, keeping in mind that past performance is not indicative of future results.
  3. Assess the Expense Ratio: Even small differences in fees can significantly impact your investment returns over time. Choose funds with low expense ratios to maximize your long-term returns.
  4. Evaluate the Fund’s Holdings: Ensure the fund’s investment strategy and the sectors it covers align with your desired level of risk and investment focus.
  5. Diversification: Consider how the fund fits into your overall investment portfolio. Investing in a mix of domestic and international index funds or ETFs can offer broader market exposure and reduce risk.
  6. Liquidity: ETFs vary in terms of liquidity. Higher trading volumes typically mean narrower bid-ask spreads and better pricing efficiency.

Selecting the right index funds and ETFs involves balancing your financial goals, risk tolerance, and investment horizon with the characteristics of the fund. By doing so, you can incorporate these passive investments into your portfolio to achieve diversified, long-term growth with lower costs and effort.

10. Creating a Product or Business

Earning Passive Income Through Product Creation (e.g., Books, Courses, Apps)

Creating a product or business offers a unique path to generating passive income by leveraging your knowledge, skills, or creativity to produce something once that can be sold repeatedly. This could include writing and publishing a book, developing an online course, creating a mobile app, or designing digital products like templates or software. The key to success in product creation is identifying a niche or need in the market that your product can fulfill, ensuring that there is demand for what you are offering.

Starting a Business That Can Be Automated or Outsourced

To transform a business idea into a source of passive income, the business model should allow for operations to be automated or outsourced effectively. This can include using online platforms that handle sales and delivery, employing virtual assistants for customer service, or using software tools for marketing and administration. The goal is to minimize the day-to-day involvement required in the business, allowing it to run and generate income with minimal direct input from you.

Strategies for Long-term Success and Scaling

  • Focus on Quality: Ensure your product or service offers value and meets a high standard of quality. Satisfied customers are more likely to recommend your product to others, driving organic growth.
  • Build a Strong Online Presence: Utilize social media, content marketing, and SEO strategies to build visibility and attract customers to your product or business.
  • Leverage Feedback: Use customer feedback to continuously improve your product and adapt to changing market needs.
  • Scale Through Diversification: Once your initial offering is successful, consider expanding your product line or services to cater to broader markets or additional niches.
  • Automate and Delegate: Continuously look for opportunities to automate processes and delegate tasks that do not require your expertise, freeing up your time to focus on strategic growth or new ventures.

Creating a product or starting a business with the aim of generating passive income requires upfront effort and investment. However, with the right approach and a focus on scalability and automation, it can provide a substantial and ongoing income stream, contributing significantly to financial freedom and success

Conclusion

In this exploration of the top passive income investments, we’ve traversed a diverse landscape from the stability of dividend stocks and bonds to the innovative avenues of crowdfunded real estate and digital product creation. Each investment vehicle offers a unique blend of risks, rewards, and opportunities for those seeking to build and diversify their income streams.

The journey towards generating passive income is both an exciting and prudent endeavor. It allows investors to leverage their initial efforts or capital to create a financial foundation that can support them for years to come. Whether it’s through real estate, the stock market, creative works, or entrepreneurship, the potential to craft a portfolio that reflects personal interests, goals, and risk tolerance is vast.

As we encourage you to embark or continue on this journey, remember the importance of diversification and due diligence. Diversifying your investments can help mitigate risk and stabilize your income, while thorough research and understanding of each investment will guide you towards making informed decisions that align with your financial objectives.

Investing for passive income is not just about securing your financial future; it’s also about creating the freedom to pursue your passions and interests. With careful planning, strategic investments, and a commitment to learning and growth, you can build a portfolio that not only grows in value but also brings you closer to achieving your dream of financial freedom.

Editor's Note:

At Personal Finance Guru, we want to help you maximize your lifestyle through personal finance. You can trust the integrity of our independent financial advice. Our opinions are our own and have not been provided, reviewed, approved, or endorsed by any advertiser or financial product provider. To support and grow the site, however, we may receive compensation from the issuers of some products.

Meet the Author:

Cody Beecham

Cody Beecham

Founder/Owner/Editor/Author

Cody is the founder and owner of Personal Finance Guru. His day job is as a management consultant at one of the Top 3 firms (think McKinsey, Bain), where he advises Fortune 500 C-suite clients on their most important and pressing business problems. He completed his business education at Harvard Business School. 

After seeing the lack of personal finance education for regular people, Cody started the website with the mission to provide everyone access to information that will help them achieve their financial goals.

Cody approaches personal finance from a maximalist perspective, shunning typical advice around simply not buying a cup of coffee instead of more effective methods like investing in yourself to quickly grow your income. 

He believes in saving money and investing for the future, but he also knows that you need to enjoy life today. That’s why Cody approaches money with a sense of humor and a positive attitude. He knows that if you’re not having fun while you’re growing your wealth, then what’s the point?

Cody approaches life with the same gusto that he brings to personal finance. He loves to travel and experience new cultures, and he is an avid reader and learner. He also enjoys playing sports (especially tennis) and spending time with his family and friends.