Want Passive Income? Buy This Warren Buffett Stock Right Now With $5,000
Passive income is becoming increasingly desirable in the present economy. The Federal Reserve's interest rate hikes aimed at curbing inflation, in addition to global economic impacts linked to the war in Ukraine, have sent stocks into a downward spiral. Since the onset of 2022, the S&P 500 has shed 19% of its value, and the more speculative Nasdaq Composite has plunged 26%.
Not every company is hurting, however. Fresh headwinds have sparked a transition away from high-growth technology stocks and into high-dividend value-oriented companies. Warren Buffett is a celebrated value investor who tends to buy shares of companies that generate stacks of cash and award their investors with hefty dividend payments. These types of businesses often thrive in a sagging economy, as investors are able to comfortably rely on the passive income they provide on a quarterly basis.
Let us look at one Warren Buffett stock that investors can lean on for passive income moving forward.
Source Fool.com
