How to Build a Bulletproof Monthly Passive Income Portfolio With Just $9,000

In the unpredictable world of finance, where market downturns and economic turbulence can strike unexpectedly, having a steady source of passive income can provide much-needed stability. While various avenues exist for generating passive income, investing in strong dividend stocks stands out as a timeless strategy.

In this article, we will explore the power of dividend stocks and how a smart investment of $3,000 in three carefully selected stocks can pave the way for a diversified passive income portfolio that can last a lifetime.

Northwest REIT

First up is Northwest Healthcare Properties REIT (TSX: NWH.UN). NWH.UN stock is in the business of providing healthcare real estate solutions, making it a dependable choice for those seeking stable income. What sets NWH.UN apart is its attractive valuation, currently trading at a modest 7.4 times earnings. This indicates that the stock is undervalued and presents an excellent opportunity for investors looking to capitalize on its growth potential.

Moreover, NWH.UN has a strong track record when it comes to dividend payments. Its historical record demonstrates a commitment to rewarding shareholders, making it a solid dividend stock. Right now, NWH.UN boasts an impressive 11.94% dividend yield, which makes it a compelling choice for income-seeking investors. This combination of stability, value, and a generous dividend yield positions NWH.UN as an excellent option for creating a lifelong income stream. With that in mind, here is what you could get from a $3,000 investment.

COMPANY	RECENT PRICE	NUMBER OF SHARES	DIVIDEND	TOTAL PAYOUT	FREQUENCY
NWH.UN	$6.82	440	$0.80	$352	monthly

Slate Grocery REIT

Our second pick, Slate Grocery REIT (TSX:SGR.UN) is involved in real estate, focusing on grocery chains across the United States. Just like NWH.UN, SGR.UN provides a reliable income stream, making it a safe option for investors seeking stability. What makes SGR.UN a strong option right now is its valuation, trading at 13.1 times earnings. This suggests that it is still attractively priced and offers room for potential growth.

When it comes to dividends, SGR.UN doesn’t disappoint. Its historical performance as a dividend stock demonstrates a commitment to rewarding investors. It offers a 9.15% dividend yield, which is quite attractive in today’s market. Given its stability, value, and impressive dividend yield, SGR.UN is a strong contender for building a lifelong income portfolio. Here is how much $3,000 would get you in passive income today.

COMPANY	RECENT PRICE	NUMBER OF SHARES	DIVIDEND	TOTAL PAYOUT	FREQUENCY
SGR.UN	$12.87	233	$1.17	$272.61	monthly

SmartCentres REIT

Our final choice is SmartCentres REIT (TSX:SRU.UN), which operates in the real estate sector. However, it has a diversified set of real estate properties. From retail and industrial properties to senior living, it’s a solid choice for investors.

SRU.UN is known for providing a consistent source of stable income, which is highly valuable in uncertain times. Currently trading at 12.8 times earnings, SRU.UN presents an opportunity for investors to enter at a reasonable valuation.

SRU.UN’s dividend history is a testament to its status as a strong dividend stock. Over time, it has consistently rewarded shareholders, making it a reliable source of income. Right now, SRU.UN offers a respectable 7.64% dividend yield, which is attractive for those seeking passive income.

COMPANY	RECENT PRICE	NUMBER OF SHARES	DIVIDEND	TOTAL PAYOUT	FREQUENCY
SRU.UN	$24.24	124	$1.85	$229.40	monthly

Bottom Line

In times of economic uncertainty, finding ways to secure your financial future becomes paramount. Diversifying your income sources through dividend stocks is a smart strategy, and the three stocks we’ve discussed â NWH.UN, SGR.UN, and SRU.UN â offer compelling reasons to consider them for your lifelong income portfolio.

Each of these stocks provides stability and value, with attractive dividend yields that can bolster your income stream. By investing $3,000 across these three stocks, you can build a diversified passive income portfolio that has the potential to provide lifelong returns. As you navigate the financial landscape, remember that a carefully crafted dividend portfolio can be your ticket to a more secure and prosperous future.

The post How to Build a Bulletproof Monthly Passive Income Portfolio With Just $9,000 appeared first on The Motley Fool Canada.

Should You Invest $1,000 In NorthWest Healthcare Properties?

Before you consider NorthWest Healthcare Properties, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and NorthWest Healthcare Properties wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Fool contributor Amy Legate-Wolfe has positions in Northwest Healthcare Properties Real Estate Investment Trust. The Motley Fool recommends Northwest Healthcare Properties Real Estate Investment Trust and SmartCentres Real Estate Investment Trust. The Motley Fool has a disclosure policy.