Like many people, I’m becoming increasingly anxious about the impact AI will have on my income. That’s hastening my desire to achieve financial freedom. Doing so would ease the burden if my income from working took a big hit.
A key aspect of my strategy is to invest in high-quality, high-yielding dividend stocks. They supply me with growing streams of passive income, inching me closer to achieving financial freedom. Threehigh-yield dividend stocks I’m eager to buy this month areEnterprise Products Partners (NYSE: EPD),Invitation Homes(NYSE: INVH), andW.P. Carey (NYSE: WPC). Here’s why I can’t wait to add to my positions this March.
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Enterprise Products Partners is a leading energy midstream company. Themaster limited partnership (MLP) operates pipelines, processing plants, and export terminals crucial to the energy sector. Long-term, fixed-rate contracts and government-regulated rate structures underpin most of its assets, enabling the MLP to generate very durable cash flows.
The energy infrastructure giant currently has a distribution yield of more than 6%. That’s several times higher than theS&P 500 (1.1% yield), enabling me to generate more income from every dollar I invest.
The MLP’s high-yielding payout is on a rock-solid foundation. It generated enough cash to cover its payout by a comfortable 1.7 times last year. Meanwhile, it has the best balance sheet in the energy midstream sector. That gives it ample financial flexibility to fund its continued growth.
Enterprise Products Partners currently has $4.8 billion in major capital projects under construction, whichshould enter commercial service through the end of next year. They’ll give the MLP more fuel to continue increasing its high-yielding distribution, which it has done for 27 consecutive years.
Investing in rental properties can be a great way to generate passive income. Invitation Homes makes it easy to invest in rental properties without the high upfront costs and hassles of managing tenants. Thereal estate investment trust (REIT) is a leader in owning and managing single-family rental homes. Its leased homes generate stable rental income while its property management business produces steady management fees.These income streams support its4.5%-yielding dividend.
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