An income stream refers to a source of income that generates recurring revenue on a regular basis. It can come from various avenues such as wages from employment, profits from a business, rental income from real estate, dividends from investments, or interest from savings and bonds. Income streams can be active, requiring ongoing work and effort (like a job), or passive, providing income with little ongoing involvement (like rental properties or stocks). Diversifying income streams is a common financial strategy to reduce risk and increase overall income stability.
Introduction Enbridge Inc. stands out as a top choice for investors aiming to build a reliable passive income. With an impressive dividend yield of 6.4%, this company is not only…