Setting financial goals each year is a smart idea. Many people (myself included) aim to collect more passive income in 2024. The more passive income you generate, the more financially independent you'll become.

There are many ways to earn passive income. Investing in dividend stocks is one of the easiest ways. Many companies pay their investors a portion of their profits in dividends each quarter. Food stocks can be a great way to satisfy your income craving because many companies in the sector generate lots of steady cash flow, allowing them to pay higher-yielding dividends. Kraft Heinz (NASDAQ: KHC), Coca-Cola (NYSE: KO), and Hershey's (NYSE: HSY) stand out for their tasty dividends.

Kraft Heinz currently offers a delicious 4.2% dividend yield. That's more than double the dividend yield of the S 500. Because of that, you'll collect a lot more dividend income each year from Kraft Heinz than you'd receive by investing in an S&P 500 index fund (which currently has a 1.5% dividend yield). For example, every $1,000 invested in Kraft Heinz would produce about $42 of annual dividend income compared to about $15 for a similar investment in an S 500 index fund.

Continue reading

Source Fool.com