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Buying shares to earn passive income is hardly a new idea. Nor is it a secret: millions of people already do it. And it can be very lucrative. Last year, FTSE 100 shares alone paid out over £80bn in dividends to shareholders.
There are a few things I like about buying shares from the blue-chip index as I try to set up passive income streams. I can fit the plan to my own financial circumstances. Buying into FTSE 100 firms also lets me benefit from the proven commercial acumen of highly profitable and well-established businesses.
That description does not necessarily apply to all FTSE 100 shares. So I need to choose carefully when buying, especially as I aim to buy shares that I can hold for years or even longer.
I keep my portfolio diversified. In this article, I want to zoom in on one particular FTSE 100 share I already own and would happily buy more of if I wanted to target £1,000…
