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Got $30,000? Invest in 2 TSX Stocks and Make $8,612.70 in Passive Income

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  Do you need some extra cash coming in from your investments? Then these two passive-income dividend stocks are for you. The post Got $30,000? Invest in 2 TSX Stocks and Make $8,612.70 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 $30,000 in two TSX-listed stocks: Enbridge Inc. (ENB) and Bank of Nova Scotia (BNS). It suggests that by investing $15,000 in each stock, an investor could achieve a total annual passive income of $8,612.70. Enbridge, known for its energy infrastructure, offers a high dividend yield of 7.6%, which would generate $1,140 annually from a $15,000 investment. Bank of Nova Scotia, with a yield of 6.6%, would provide $990 per year from the same investment amount. The article highlights the stability and reliability of these dividends, with Enbridge having increased its dividend for 29 consecutive years and Scotiabank for over 190 years, making them attractive for investors seeking steady income. However, it also notes the risks associated with high dividend yields, such as potential dividend cuts or stock price declines, and advises considering one's risk tolerance and investment horizon before committing to such investments.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/savingandinvesting/got-30-000-invest-in-2-tsx-stocks-and-make-8-612-70-in-passive-income/ar-AA1xBPSE ]