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With inflation remaining high, stock market volatility on the rise and unemployment climbing, American families are seeking reliable ways to invest their savings and secure a steady stream of monthly dividend income.
But where should you invest your savings to lock in a monthly income that would be enough to at least pay your bills? An investor with a decent sum of money looking to earn in dividends turned to Reddit about a year ago to find answers to this question. He earned about $900 quarterly with about $50,000 as an initial investment. The investor asked the r/Dividends community of over 550,000 members which stocks or ETFs would be suitable to put an additional $300,000 into to reach at least $1,000 per month.
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As always, Redditors jumped in with their tips, stocks and fund recommendations and personal success stories about earning monthly dividend income. We sifted through their discussion and highlighted some of the most promising high-yield stocks and ETFs they suggested.
The ETFs and stocks mentioned in the article are purely for informational purposes and are based on public comments made during a discussion on Reddit. These are not recommendations or investing advice.
iShares 0-3 Month Treasury Bond ETF
Redditors recommend iShares 0-3 Month Treasury Bond ETF (NYSE:SGOV) for anyone who has a sizable budget and wants steady checks every month. The ETF tracks the performance of U.S. Treasury bonds with maturities of 0-3 months. However, Redditors recommended that the questioner invest in the ETF about a year ago. If you decide to invest in the ETF right now, you will likely see a drop in yields soon since the Federal Reserve’s rate decisions can impact returns.
PIMCO Access Income Fund
PIMCO Access Income Fund (NYSE:PAXS) aims to generate monthly income and seeks capital appreciation by investing in fixed-income securities, corporate debt, mortgage-related and other asset-backed instruments. The fund yields about 12%.
JPMorgan Nasdaq Equity Premium Income ETF
As expected, JEPQ…
Read More: How To Earn $1,000 A Month In Dividends With A $350,000 Investment?
