There are plenty of ways to generate passive income. For example, you could buy a real estate property and rent it out. You could write a book and earn money from the sales. But these approaches require a not-so-insignificant amount of work upfront.

Alternatively, you could take an easy approach. Want $10,000 in annual passive income? Invest $106,000 in these three high-yield dividend stocks.

Ares Capital (NASDAQ: ARCC) looks like a great target for one-third of your $106,000 upfront amount. With its dividend yield of nearly 9.7%, this stock should generate more than $3,420 of annual income without you having to lift a finger.

Continue reading

Source Fool.com