One synonymous phrase of "produce real wealth" is "generate substantial income." This phrase emphasizes the creation of a consistent and significant flow of monetary resources that can be utilized for various purposes such as investments, savings, and expenses. Another phrase that conveys the same meaning is "yield tangible benefits." This phrase implies that the result of an action or investment produces concrete and observable outputs such as profit, assets, or improved living conditions. Lastly, "generate long-term value" is another synonym of "produce real wealth" that stresses the importance of creating sustainable and enduring benefits that can serve as a source of wealth over time.