WMB - Got $1000? Here's How to Turn It Into a Lucrative Passive Income Stream
2023-04-08 10:30:00 ET
Rising interest rates have made turning idle cash into passive income much easier. Unfortunately, many of the most attractive low-risk options, like T-bills and bank CDs, have short durations of less than a year. Because of that, they're not durable options for those seeking long-term passive income streams.
However, for those willing to take on a bit more risk, many attractive investment opportunities could turn $1,000 into a lucrative and lasting passive income stream. Among the more compelling options these days are pipeline stocks . They offer high-yielding dividends backed by long-term contracts and government-regulated rate structures. Because of that, they should be able to sustain and grow their payouts. Three top choices to consider are Oneok (NYSE: OKE) , Kinder Morgan (NYSE: KMI) , and Williams (NYSE: WMB) .
Oneok has a long history of paying dividends. The pipeline company has delivered a quarter-century of dividend stability and growth. It has increased its payout at a 12% compound annual rate since 2000, including by 2% earlier this year. Oneok's dividend currently yields 5.9%. That could turn $1,000 into $59 of annual passive income. For comparison, a $1,000 investment in an S&P 500 Index fund would only produce about $17 of yearly dividend income.
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Got $1,000? Here's How to Turn It Into a Lucrative Passive Income Stream