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Invest $20,000 in 2 TSX Stocks for $8,669.88 in Passive Income

^{Published on 2024-12-19 19:21:35 - MSN}
 

• These passive-income stocks provide not just dividends, but way more through a globally diversified portfolio. The post Invest $20,000 in 2 TSX Stocks for $8,669.88 in Passive Income appeared first on The Motley Fool Canada.

The article from MSN Money discusses an investment strategy for generating passive income by investing $20,000 in two TSX-listed stocks: Enbridge Inc. (TSX:ENB) and Bank of Nova Scotia (TSX:BNS). Enbridge, known for its extensive pipeline network, offers a high dividend yield of 7.6% due to its stable revenue from long-term contracts, despite a recent stock price drop. Bank of Nova Scotia, one of Canada's big banks, provides a 6.6% yield, supported by its diversified operations and a history of consistent dividend payments. The article suggests that by investing $10,000 in each stock, an investor could achieve a combined yield of approximately 7.13%, leading to an annual passive income of $1,426.00. Over six years, with dividends reinvested, this could grow to $8,669.88, assuming the yields remain constant. The piece emphasizes the reliability of these stocks for income generation, even in volatile market conditions.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/savingandinvesting/invest-20-000-in-2-tsx-stocks-for-8-669-88-in-passive-income/ar-AA1wbaVG ]

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