You could work really hard in the new year to pull in additional money. Or you could spend five minutes and then do nothing over the next 12 months. That's the beauty of passive income.

But how much money can you make and how much upfront money will it take? Investing $97,182 in these three funds could make you $10,000 in passive income in 2024.

1. Cohen & Steers Infrastructure Fund

Cohen & Steers Infrastructure Fund (UTF -0.69%) offers a distribution yield of 8.69%. Investing one-third of the initial $97,182 (which comes to $32,394) would generate $2,815 in passive income in the new year at that yield.

As its name indicates, Cohen & Steers Infrastructure Fund focuses primarily on infrastructure-related assets, including stocks, bonds, and derivatives. The fund's top holdings include NextEra Energy, American Tower, Southern Company, Transurban Group, and TC Energy.

Although Cohen & Steers Infrastructure Fund's price has declined over the last 12 months, its distributions helped make its total return during the period much higher. The fund's management believes that infrastructure is a growing asset class that could generate higher total returns over the long term with lower volatility than global equities as a whole.

Cohen & Steers Infrastructure Fund is a closed-end fund (CEF). Like other CEFs, it's closed to new investments. Also like many CEFs, it charges a hefty expense ratio that currently stands at 2.19%. Note, though, that the distribution yield is net of all expenses. The fund uses leverage (borrowing) to boost its distributions. Its leverage ratio right now is 30.97%.

2. DoubleLine Yield Opportunities Fund

DoubleLine Yield Opportunities Fund (DLY 1.26%) stands out as another CEF that can make you plenty of money in 2024. With its distribution yield of 9.46%, investing $32,394 (one-third of your initial $97,182) should allow you to rake in $3,064 in passive income over the next 12 months.

This fund invests in a wide range of assets. Its overarching goals are to deliver high total return with an emphasis on income. DoubleLine Yield Opportunities uses borrowing to boost that income. Its leverage ratio currently stands at 19.29%.

This CEF is managed by billionaire Jeffrey Gundlach, who has earned the nickname "the bond king", along with his deputy chief investment officer, Jeffrey Sherman. With their extensive expertise in the bond market, the two portfolio managers invest significantly in bonds that are below investment grade that they think offer attractive risk-reward propositions.

3. PIMCO Dynamic Income Opportunities Fund

I've saved the highest income-generating fund for last. PIMCO Dynamic Income Opportunities Fund (PDO 1.17%) has a distribution yield of 12.72%. Investing the final one-third of the initial $97,182 should generate another $4,121 in passive income in 2024. This brings the total income you could make to $10,000 -- give or take a few cents.

PIMCO Dynamic Income Opportunities Fund focuses on what it calls "high conviction income-generating ideas across credit markets." Its holdings include mortgages, commercial mortgage-backed securities, and high-yield credit assets.

The CEF comes with a relatively high leverage ratio of 40.4%. Most of this leverage is from reverse repurchase agreements, which are short-term agreements to sell securities and then buy them back at a price that's a little above the initial sale price.

Two caveats

Can these three funds really generate $10,000 in passive income with an initial investment of $97,182? Yep. However, two caveats should be mentioned.

First, it's possible that one or more of these CEFs could reduce their distributions in 2024. None of them have done so over the last five years, but it's not out of the question that it could happen in the future.

Second, the funds' prices could decline enough to offset the income you make from distributions. This occurred in 2023 with Cohen & Steers Infrastructure Fund.