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Dividend-paying stocks offer a versatile approach to enhancing income and growth potential, regardless of your life stage.
For those years away from retirement, reinvesting dividends can significantly boost returns.
Consider a hypothetical investment in the S&P 500 Index Fund in 1993. According to Charles Schwab, reinvesting dividends would have grown it to over $158,000 by the end of 2022, while not reinvesting would have limited it to $88,000.
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Investing in reliable, long-term dividend stocks usually positions investors to survive a market downturn or recession and thrive during bull markets.
About a month ago, a Redditor on r/Dividends shared their income report and portfolio, saying they hit their $300,000 12-month goal on investments of about $4 million.
Professional_Panic67, who has about 150 holdings, wrote that the top 10 stocks they've invested in account for about 25% of the $300,000 in earnings.
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Professional_Panic's top 10 in order are:
BlackRock Science and Technology Term Trust (NYSE:BSTZ) has an annual dividend yield of 9.18%.
Nuveen Real Asset Income and Growth Fund (NYSE:JR) has an annual dividend yield of 6.57%.
DoubleLine Income Solutions Fund Common Stock (NYSE:DSL) has an annual dividend yield of 10.36%.
Neuberger Berman Real Estate Securities Income Fund Inc. (NYSEAMERICAN: NRO) has an annual dividend yield of 9.4%.
Kayne Anderson Energy Infrastructure Fund Inc. (NYSE:KYN) has an annual dividend yield of 8.31%.
Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) has an annual dividend yield of 10.7%.
Voya Infrastructure Industrials and Materials Fund (NYSE:IDE) has an annual dividend yield of 10.07%.
Altria Group Inc. (NYSE:MO) has an annual dividend yield of 8.22%.
Ares Capital Corp. (NASDAQ:ARCC) has an annual dividend yield of 8.87%.
BlackRock Corporate High Yield Fund Inc. (NYSE:HYT) has an annual dividend yield of 9.47%.