By Josh Katzowitz, WCI Content Director

Bobby Bonilla earned nearly $50 million during his 16-year Major League baseball career. He made seven All-Star teams, and in 1991, he signed the richest contract in baseball history—a five-year deal worth $29 million (about $67 million in today’s money). Somehow, even though he retired in 2001, Bonilla, because he was a talented ballplayer last century, is still making passive income.

At The White Coat Investor, we often talk about passive income, whether it’s through some form of real estate investing, an entrepreneurship that starts active and then becomes passive, or if you lend out money and charge interest.

But I’m not sure anything beats what Bonilla has managed to accomplish every summer in his retirement. That’s because every July 1, known colloquially throughout the sports world as Bobby Bonilla Day, the New York Mets pay Bonilla $1.2 million. They’ve been sending him

Keep reading this article on The White Coat Investor.

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