2024-10-27 09:14:00 ET
I want to become financially independent. My core strategy is to grow my passive income so that it will eventually cover my recurring expenses. To reach that goal, I'm taking a multipronged approach that includes investing in dividend stocks, exchange-traded funds (ETFs), and real estate.
I'm loading up on several dividend ETFs to grow my passive income, including JPMorgan Nasdaq Equity Premium ETF (NASDAQ: JEPQ) , SPDR Portfolio High Yield Bond ETF (NYSEMKT: SPHY) , and iShares Core U.S. Aggregate Bond ETF (NYSEMKT: AGG) . Here's why I like this trio for passive income.
JPMorgan Nasdaq Equity Premium ETF takes a unique approach to generating income. The fund writes out-of-the-money call options on the Nasdaq-100 Index. That strategy generates options premium income each month that the ETF distributes to investors.