Do you want to earn $500 in passive income each and every month? With stocks, index funds, and Guaranteed Investment Certificates (GICs), it’s possible to have enough portfolio diversification that you receive a bit of dividend income monthly. Arguably, having monthly payouts is not the most important thing. It’s your cumulative result that really matters. Nevertheless, if you hate waiting an entire quarter for dividend income to come in, you can arrange to receive it more frequently.
In this article, I will explore a method that can get you up to $500 per month in passive TFSA income with not a whole lot invested.
Option #1: The low-risk index fund method
Index funds are classic TFSA investments. They offer a lot of diversification, and they usually pay dividends. When you hold a typical index fund, you get dividends paid out each and every quarter. It’s not quite a monthly pay schedule, but if you buy…
