Saturday, January 28, 2023
No Result
View All Result
  • Home
  • Recent
  • Business
  • Economy
  • Investing
  • Markets
  • Personal Finance
  • Retirement
  • Tech
  • Startups
  • Insurance
  • Market Research
  • Crypto
  • Home
  • Recent
  • Business
  • Economy
  • Investing
  • Markets
  • Personal Finance
  • Retirement
  • Tech
  • Startups
  • Insurance
  • Market Research
  • Crypto
No Result
View All Result
Home Markets

Need Cash? Create $500 in Passive Income Today With These TSX Stocks

Updates Finance by Updates Finance
July 12, 2022
in Markets
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

What is the Stochastic Oscillator? – Analytics & Forecasts – 28 January 2023

fiscal consolidation: Union Budget 2023: Expect modest fiscal consolidation

Reuters | South Korea fines Citadel Securities for stock algorithm trading breaches

Canadian Dollars

Image source: Getty Images

Are you worried about the market selloff or a recession? I don’t blame you. We could all use some extra cash right now, and passive income through TSX stocks is a great way to do that.

In fact, Motley Fool investors can make $500 each year right now by investing in the right stocks. That means creating passive income that lasts you a lifetime, and you can create even more by reinvesting each year!

All it takes is finding the right TSX stocks, which is, of course, easier said than done. This is why I’ve done the heavy lifting for you.

Sectors to consider

If you want passive income, you want income that’s going to keep coming for life. So, you don’t want some growth stock that can climb and fall, you want passive income that will keep riding high. That means choosing blue-chip companies.

These are companies that are usually a household name of their industry. They provide dividend payments, because they have decades of solid performance that create strong balance sheets. Further, they’re in solid industries that simply aren’t going anywhere.

So, what are some sectors that aren’t going away? Those would be energy, finances, and real estate. You need a place to live; you need energy to fuel your home; and you need finances to pay for it. Those are basic necessities.

There are many options.

My top stock recommendations for passive income

For these three options, my top choices right now are Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP), Royal Bank of Canada (TSX:RY)(NYSE:RY), and Choice Properties REIT (TSX:CHP.UN).

Brookfield provides entry to renewable energy over the next few decades, with a diverse set of properties around the world. Royal Bank is the largest of the Big Six banks, with over 100 years of solid performance and high revenue thanks to its wealth and commercial management sector. And as for Choice Properties, you get exposure to not just residences, but the retail businesses it holds below its apartments in urban centres.

Brookfield, Royal Bank, and Choice have all been paying out dividends for years. They offer passive income of 3.65%, 4.02%, and 5.37% respectively. So, you can easily create passive income of $500 from these TSX stocks.

Do the math

Let’s say you were to create a third of your $500 from each of these TSX stocks. That would mean about $167 each. To get there, it would take an investment of $4,554 in Brookfield, $4,175 in Royal Bank and $9,310 in Choice. That’s a total of $18,039, which means it can all be fit in your Tax-Free Savings Account!

So, now Motley Fool investors, you’ve created passive income of $500 each year, tax free, for life. Further, you’ve chosen strong, stable companies that will continue to produce returns and dividends for decades to come — all while buying these TSX stocks at an unbelievably low price during this market downturn.

Don’t let the market fool you. Downturns come and go, but the TSX trends upwards over time. So, don’t miss out on this incredible buying opportunity to create passive income for life.



Source link

Tags: CashcreateIncomePassivestocksTodayTSX
Share30Tweet19
Updates Finance

Updates Finance

Recommended For You

What is the Stochastic Oscillator? – Analytics & Forecasts – 28 January 2023

by Updates Finance
January 28, 2023
0

What is the Stochastic Oscillator? The Stochastic Oscillator is an indicator that compares the most recent closing price of a security to the highest and lowest prices during...

Read more

fiscal consolidation: Union Budget 2023: Expect modest fiscal consolidation

by Updates Finance
January 28, 2023
0

Indian central government will table its 2023 Union Budget on coming 1st Feb. Even as the government does not shy from big bang announcements outside the budget and...

Read more

Reuters | South Korea fines Citadel Securities for stock algorithm trading breaches

by Updates Finance
January 28, 2023
0

Article SEOUL, Jan 27 (Reuters) - South Korea's financial regulator has imposed a fine of 11.88 billion won ($9.66 million) on U.S.-based Citadel Securities, saying it disturbed the...

Read more

Nestle to invest $100 million in Colombia, says Colombia president By Reuters

by Updates Finance
January 28, 2023
0

© Reuters. FILE PHOTO: A logo is pictured on the Nestle research center at Vers-chez-les-Blanc in Lausanne, Switzerland August 20, 2020. REUTERS/Denis Balibouse/File Photo BOGOTA (Reuters) - Nestle...

Read more

Battle Between Bulls And Bears Over Wolfspeed Is Worth Watching

by Updates Finance
January 27, 2023
0

wildpixel As an investor grounded in value, I usually get a little suspicious when a pre-profit, pre-positive free cash flow growth story starts looking reasonably valued, but such...

Read more
Next Post

What's New With Banking 2022

Related News

Sam Bankman-Fried on prospect of prison: This isn’t the time and place to think about that

December 1, 2022

NHPC To Monetise Uri-I Plant’s Future Cash Flow To Fund Capex

August 10, 2022

This is the Meta Quest Pro high-end virtual reality headset

September 12, 2022

Browse by Category

  • Business
  • Cryptocurrency
  • Economy
  • Insurance
  • Investing
  • Latest updates
  • Market Research
  • Markets
  • Personal Finance
  • Retirement
  • Startups
  • Technology

Get the latest Financial news on updatesfinance.com. Business news, Economy news, Investing news, Personal Finance and more.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Insurance
  • Investing
  • Latest updates
  • Market Research
  • Markets
  • Personal Finance
  • Retirement
  • Startups
  • Technology

Recent News

  • ‘Tiger ka toh main bhi fan hoon’: Shah Rukh Khan calls Salman Khan GOAT
  • What is the Stochastic Oscillator? – Analytics & Forecasts – 28 January 2023

Copyright © 2022 - Updates Finance..

No Result
View All Result
  • Home
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Updates Finance..

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?