DISCLAIMER - I am not a Financial Advisor and do not work for any Brokerage Firm. The opinions given are my own and are not to be used as professional advice. These are my findings and can hopefully help you make informed decisions on investing. Consult a Broker or Lawyer before making any investment.
What I Love About Passive Income – Part 3
What is greater than Passive Income? I started asking that over a month ago in our first article on Passive Income. I think that every investor needs to make it a goal to build a large stream of Passive income.
What Is Passive Income?
In our first installment of What I Love about Passive Income, we discussed the vast number of methods for creating Passive Income. One of my favorite methods of passive income is to buy an asset. That could be a rental property, but my choice is to buy stocks and ETFs (Exchange Traded Funds) that make me money via dividends.
Investing with ETFs
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There are so many good dividend-paying stocks. I like to use my Schwab IRA to buy ‘stock slices’ in companies I feel are good dividend payers and also are potential growth companies. This is called DGI / Dividend Growth Investing. These are companies that will make you steady dividend income, but due to growth may also gain in value as their stock prices go up.
What is Dividend Growth Investing
This week US News Investing wrote an article In October 2023 on 7 of the highest-paying dividend stocks available. I have some of these in my Schwab Portfolio.
Article on Seven High-Paying Dividend Stocks
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WHAT IS PASSIVE INCOME
Few people realize the importance of Passive Income. In life, we must either work for a paycheck, or we can wisely invest and let those investments pay us. Last year I had virtually no substantial income from dividends. By purchasing a lot of Growth Dividend Stocks, CEFs (Closed-End Funds) at huge discounts to Net Asset Value, and some Preferred Stocks, we have now over $70 per month coming in. We are planning for over $100 per month in the next six months, with a goal to get above $500 within 2 years.
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