Generating passive income can help get you on the road to financial freedom. The more passive income you can produce, the less reliant you'll become on your career for income. Buying stocks that pay dividends is a great way to start earning durable passive income.

Altria is a top choice for building passive income with stable cash flows, despite potential tech stock valuation slowdowns. Learn more about MO stock here.

"Passive income is money you earn without actively working for it — as opposed to earned income from a job. In general, passive income comes from putting something you own — property, money or expertise — to work. The revenue you collect in rent, dividends or ad sales are all forms of passive income," explains SmartAsset.com.

Wells Fargo blasted 6.7% higher on Jan. 15 thanks to solid results, including 11% higher diluted earnings per share and 15% growth in fee-based revenue. JPMorgan Chase popped 2% on Jan. 15 and reached an all-time high on Jan. 17 in response to excellent results and another year of record revenue and net income.

Relatively small investments in high-yielding shares can grow into big passive income, especially if the dividends are reinvested in the stocks. The post Here’s how investors could consider aiming for £3,