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Want $3,000 in Passive Income? Invest $15,000 in These 3 Dividend Stocks and Wait 6 Years.

Want $3,000 in Passive Income? Invest $15,000 in These 3 Dividend Stocks and Wait 6 Years.

Companies that pay their investors dividends and have the potential to grow in value offer a one-two punch of both short-term and long-term benefits. What's more, dividends provide an added incentive not to sell a stock, and can be a great way to supplement income in retirement. Investing $15,000 in equal parts of Brookfield Renewable (NYSE: BEPC) (NYSE: BEP), United Parcel Service (NYSE: UPS), and Illinois Tool Works (NYSE: ITW) and holding them for six years should produce at least $3,000 in passive income.