I love investing in dividend-paying stocks. I like to see the dividend payments flowing into my portfolio. That gives me more cash to buy dividend stocks, which allows more income to flow into my portfolio.

However, I don't solely invest in dividend stocks. I also invest in high-quality growth stocks, particularly those I believe can grow their cash flows at above-average rates. That strategy has paid big dividends over the years in the form of strong capital gains. Meanwhile, as some of my growth stocks have matured, they've started paying dividends. Because I got in early and held on, I'm earning some monster yields on my initial investments in Meta Platforms (NASDAQ: META), American Tower (NYSE: AMT), and Phillips 66 (NYSE: PSX).

I initially bought shares of Meta Platforms, then Facebook, not too long after its IPO in 2012. Shares had cratered nearly 50% from its IPO price to around $20 apiece when I bought them. I saw a lot of parallels between Facebook and Google (now Alphabet) and thought the social media company could cash in on the growing digital advertising market.

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Source Fool.com