Want $500 in Annual Passive Income? Buy These 2 Dividend Stocks Now
Every dollar of passive income you make from your portfolio is money you can use to reinvest into other assets and gain the benefit of compound growth over time. Over a long enough period, you can build a decent income stream, and if you're especially patient, you can even start the process with a relatively small investment in some cases.
With that in mind, let's take a look at a pair of A-list passive income stocks that pay reliable dividends so that you'll understand how much money you'll need to commit upfront to get yearly dividend flows of around $500.
Innovative Industrial Properties (NYSE: IIPR) is a favorite among dividend investors thanks to its lucrative role in the U.S. cannabis industry. Thanks to federal prohibition of marijuana, cannabis growers and sellers don't have reliable access to capital, making it hard to expand their business. But, in some locales, they're allowed to own real estate to cultivate their crops, and that's where IIP comes in. IIP offers cannabis companies the opportunity to trade their greenhouse real estate for the cash they need, and then IIP becomes their landlord.
Source Fool.com
