How to generate passive income in 2024

2024-02-19

Over the 12 months to the end of December, housing costs rose 6.1%, alcohol and tobacco prices lifted 6.6%, medical costs bumped up 5.1%, and insurance and financial services prices soared 8.1%. We also spent more on food and non-alcoholic beverages, more on transport, and more on education.* All this is to say that it costs a lot more to be alive today than it did 12 months ago, and this anonymous writer is starting to feel the bite. Sure, inflation is finally starting to cool, but you would be...

All this is to say that it costs a lot more to be alive today than it did 12 months ago, and this anonymous writer is starting to feel the bite. Sure, inflation is finally starting to cool, but you would be hard-pressed to find someone whose lifestyle hasn't been dampened by higher rates.

So this episode of Buy Hold Sell is focused on making your money work a little harder for you.

We've reached out to two income specialists in the form of Dr Don Hamson from Plato Investment Management and Michael O'Neill from IML, for their top tips and tricks for helping you generate more bang for your buck in 2024.

They share the stocks that have sustainable yields, name a few that don't, teach you how to avoid the traps that plague dividend-hungry investors, and last but not least, name one stock that they believe every income investor should hold in 2024.

Note: This episode was filmed on Wednesday 14 February 2024.

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