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My company has a 401k plan where they would take out money from my paycheck and match whatever I put into it. The concept of taking money out of my paycheck every two weeks and put it into a investment is ok. I don't like the 401k option though I want the assets I invest in to generate income.

My question is:

Is there any way to automatically take money out of my paycheck every two weeks and invest it in an income producing asset that sends me back (check or Direct deposit) a small amount of whatever income that was generated every two weeks? Could this all be configured with a brokerage account?

You should contribute as much as you can to get the full company match. That is a 100% return on your investment and you're not going to beat that - it is literally free money.

Once you've done that then you can look to other investments. You can certainly have money pulled from your paycheck into a brokerage account. Fidelity, TDA, Schwab, etc all support this. Once the money is in the brokerage account you then can decide what to invest the money in.

Why are you interested in receiving the income currently? Income producing investments are typically paid out quarterly or semi-annually; money market accounts (Ally, CIT Bank, etc) pay monthly. If you need this income to make ends meet then you shouldn't be looking into investing any money in anything other than a money market - a real investment needs a time horizon of 10+ years.

If you're doing this to "improve" your cash flow (based on the tag) then consider how much money you'll have to invest in order to get a meaningful dollar amount in interest. A money market pays 2.25% currently - putting $100,000 into this will return about $90 every 2 weeks. To get a higher rate of return, you have to take on more risk; more risk means you need a longer time horizon to weather the ups and downs of an investment volatility.

You could buy $100k of a dividend paying stock and get 6% yield, which means you'll get about $250 every two weeks. You'll pay taxes on that and your $100k may decline in value (or increase).

In short, the first move you should make is to get all of your employer's match.

Edit-the div stock example still means you get paid quarterly but it’d work out to that amount every 2 weeks

A 401K can hold an income investment but withdrawals from a 401K are difficult.

Withdrawals from a 401K before the age of 59 1/2 incur a 10% penalty plus income taxes.

Really, I don't think the employer would have a good viewpoint of an employee that is using a 401K for regular current income. It's more common to take a loan against a 401K.

Putting a regular small deposit into a commission-free ETF is okay but if that is done instead of deposits into the 401K then the matching employer deposits of the 401K are not received. However, monthly income dividends are available with ETF's and most major brokerage accounts offer commission-free ETF's. Also, commission-free mutual funds are available when directly from the sponsors and internet savings bank accounts are available that link to a checking account.