Investing in real estate is a popular choice for many, with influencers touting it as a way to generate passive income. However, the reality is that owning real estate involves a lot of work, from maintenance to dealing with tenants and paperwork. True passive income can be achieved through dividend investing, where you earn income from investments without doing any extra work.
One top dividend growth stock to consider is Philip Morris International (NYSE: PM). This company, known for its Marlboro brand, is a leading tobacco/cigarette maker outside the US and China. Despite a declining global cigarette market, Philip Morris has managed to maintain stable volumes and grow revenue. Additionally, the company is investing in alternative nicotine products, such as heat-not-burn units and tobacco-free nicotine pouches, which are showing strong growth potential.
Philip Morris currently offers a dividend yield of 4.5%, making it an attractive option for investors looking to generate passive income. With the company expected to increase its dividend per share over the next decade, this stock has the potential for long-term growth.
Before investing in Philip Morris International, it’s important to consider all factors and do thorough research. The Motley Fool Stock Advisor team has identified the top 10 stocks for investors to buy now, and while Philip Morris International is not on the list, there are other potential opportunities for significant returns.
In conclusion, investing in dividend-paying stocks like Philip Morris International can be a smart way to build passive income over time. Consider diversifying your portfolio and seeking advice from financial experts before making any investment decisions.