If you want to generate $5,000 in annual income right out of the gate, it will require you to invest a decent amount of money to see that amount in dividends. Less than $100,000 split equally between the following three companies should get you up running.
However, if you don’t have that kind of cash but do have a little time, these same stocks can also get you to our goal. Each of these dividend stocks has a history of increasing their payout at double-digit rates over time. So, you could invest smaller amounts into each of them and use the power of time and compounding to your advantage.
This post appeared first on InvestorPlace.