A Simple Strategy To Make $70,000 In Passive Income Per Year
Assuming an annual dividend yield of 7%, you’ll need $1 million to earn $70,000 per year in passive income without eating into the initial investment amount.
Here’s a simple strategy to make $70,000 in passive income per year. Invest in two types of assets that offer annual dividend yields of at least 7%;
Closed-End Funds (CEFs)
A CEF is a type of mutual fund that can be bought and sold like a stock on an exchange. There are dozens of CEFs that offer annual yields of at least 7%. For example, the AllianceBernstein Global High Income Fund (AWF 0.31%) currently yields 7.91%. It primarily invests in corporate bonds.
Real Estate Investment Trusts (REITs)
A REIT, is an entity that focuses on owning real estate properties. They’re required by law to return at least 90% of taxable income to shareholders in the form of dividends.
This passive income strategy is geared towards income rather than growth. Can you really make $70,000 in passive income per year with this approach? Absolutely.
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