What’s the best and safest way to turn $30k cash into an income of $500-$600 a month?

One of the easiest ways is to invest in stocks, exchange-traded funds (ETFs), or real estate investment trusts (REITs) that pay a monthly dividend.

Here are four investment options to consider when you are looking to generate a monthly income:

Pembina Pipeline Corporation (PPL.TO)

• 06/15: $41.31
• Dividend: $0.21 per month

Pembina Pipeline Corporation offers transportation and midstream services for the energy sector through pipelines, facilities, and marketing and new ventures.

Pizza Pizza Royalty Corp (PZA.TO)

• 06/15: $10.85
• Dividend: $0.055 per month

Pizza Pizza Royalty Corp owns and franchises restaurants through the Pizza Pizza brand, reinvesting profits and sales into paying a monthly dividend.

BMO Canadian Dividend ETF (ZDV.TO)

• 06/15: $19.06
• Dividend: $0.065 per month

ZDV is an ETF that invests in Canadian dividend paying stocks. Its top five assets are Bank of Nova Scotia, Enbridge, TD Bank, CIBC, and the Royal Bank of Canada (RBC).

Realty Income Corp (O)

• 06/15: $69.82
• Dividend: $0.235

Realty Income Corporation is a REIT that pays a monthly dividend. It also is a favorite among Wall Street analysts, with a blend of "Hold" and "Buy ratings.

Ultimately, if you are looking to invest $30,000 and earn a monthly income you will want to park your money in reliable investments. The best strategy is to invest in securities that have a great track record.