Earn $1,000 in Monthly Retirement Dividends With 5 Easy Steps

If you want to supplement your Social Security in retirement, dividend-paying stocks are a fantastic option. By investing in companies with a history of rewarding shareholders, you can sit back and enjoy an effortless stream of cash.

The S&P 500's current yield is just over 1.3%, but there are plenty of solid companies with upward of a 3% dividend yield. So let's assume you'll need $400,000 that you can invest in dividend-paying stocks if you want to generate at least $12,000 a year, or $1,000 a month. Follow these five steps to watch the passive income start rolling in.

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Source Fool.com