If you have not yet read Part 1: The Primacy Of Income, available free to all readers, please click here to read it first.

“Financial independence” is defined by most as having enough passive income to cover all of your living expenses. While a worthy goal for all of us, even partially achieving that state will make your life tremendously less stressful than the hundreds of millions (in the US alone) who fall far short of it — and will only fall farther behind during the next deflationary wave when asset prices fall, job losses spike, and government subsidies become more scarce.

In Part 1, we laid out the rationale for why investing for income is becoming more important than ever as the Era Of Gains draws to an end.

Those who put in place a diversified portfolio of relatively low-risk passive income streams, inflation-adjusting and tax-advantaged wherever possible, should be much more financially resilient than the general masses after today’s Everything Bubble ruptures.

The good news is that there’s a variety of options worth considering when constructing such a portfolio of income streams. Here in this primer, we identify many of the most noteworthy along with their general benefits and risks.

The challenge, of course, comes in the application of this information. Which options are best for you, given your specific situation, needs, goals, and risk appetite?

And as always, we recommend working with a professional financial adviser to build an investment plan customized to your own needs and objectives. (If you do not have a financial adviser or do not feel comfortable with your current adviser’s expertise in the market risks we discuss here at PeakProsperity.com, consider scheduling a free consultation with our endorsed adviser)

Suffice it to say, any investment ideas sparked by this report should be reviewed with your financial adviser before taking any action. Am I being excessively repetitive here in order to drive this point home? Good…

With the above said, the primer below should give you plenty of food for thought for how you may wish to design your own income-generating portfolio.

Let’s begin with…