How to Earn a Passive Income of $7000 yearly

Just thinking off the top of my head how to increase the amount of passive income one receives.

To get $7000 annually in interest from let's say MayBank which provides a 0.88% interest, I will need to deposit S$795,454.54 in the bank!

Another way would be to invest in a high yielding REIT or bond that gives 10% yield. In this case, I will just need an initial outlay of $70,000 to get $7000 annually in passive income. This will of course be subjected to paper loss, etc.

Check out the category for "Yield greater than 10%" on the right to see some of the REITS or Trusts that provide a 10% yield.