Want $10,000 in Passive Income? Invest $69,000 in These 3 Warren Buffett Stocks and Wait 5 Years

One excellent way to build wealth and passive income is by investing in income stocks.

According to a study by Fidelity, dividends account for 40% of the S&P 500's total returns. When inflation is high, as it was in the 1940s and 1970s, dividends account for as much as 71% of the market's returns.

Berkshire Hathaway chief executive officer and renowned investor Warren Buffett likes three dividend-paying stocks: U.S. Bancorp (NYSE: USB), Bank of America (NYSE: BAC), and Chevron (NYSE: CVX). So why not take your cue from an expert? Investing $69,000, split among these three companies, would net you $10,000 in income in the next five years.

Source Fool.com