How much would I need to invest in UK stocks for £500 in monthly passive income?
There are various ways to earn passive income in the internet age. Affiliate marketing, dropshipping, and selling e-books are some. My own preferred method is to invest in dividend-paying UK stocks. The income from these is truly passive because I don’t need to maintain a website or interact with customers. It just appears in my investing account because I’m a shareholder of the company. I can buy more shares with this (known as dividend reinvesting or compounding) or simply take it out as passive income. The last dividend I received was from equipment rental giant Ashtead on 10 September. A handful of other UK firms are due to pay me a dividend this month too: Dividend payment date Games Workshop 16 September London Stock Exchange Group 18 September HSBC 27 September Legal & General (LSE: LGEN) 27 September BlackRock World Mining Trust 30 September The Renewables Infrastructure Group 30 September Here, I’ll outline an actionable plan for how I’d target a £500-a-month passive income stream. Most firms pay dividends either twice or four times (quarterly) a year. So I’d be aiming for £6,000 a year to get my average of £500 a month. How much I’d need to invest to...