Passive income is supposed to ease your workload, not add to it. That's why investors who are seeking a worry-free retirement should find dividend-paying stocks that don't require close monitoring. The best way to determine that a dividend does not need extra attention is to make sure it meets the following three criteria: 1. Relatively stable revenue backed by fee-based contracts or other recurring sources of income. 2. A strong balance sheet that is either cash-rich or backed by an investment-grade credit rating and low leverage metrics. 3. Ample excess cash flow to provide a cushion.
Three of my favorite passive income stocks pass this test with ease: With a global property portfolio that spans several property classes, investing in Brookfield Property Partners (NYSE:BPY) would make any investor an instant real estate mogul. Enterprise Products Partners (NYSE:EPD) is one of the largest integrated midstream companies in the U.S. The company controls 49,000 miles of energy pipelines, which is enough to circle the globe twice. Verizon Communications (NYSE:VZ) has the largest wireless subscriber base in the country at 112.6 million.
Source: Motley Fool
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- 8 Dividend Stocks With A Quick Payback
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- 4 Dividend Stocks For Healthy and Wealthy Retirement
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