Want $5,000 a Year In Passive Income? Buy These 3 Dividend Stocks and Hold for 5 Years

"Investors looking to create meaningful passive income streams for retirement have a number of considerations to keep in mind. Building passive income streams can come from many different asset classes, for starters. Investors need to decide if they're looking more for outright stability (government Treasury bonds and other fixed income securities can provide very stable and low-risk income). Or, do investors want to earn yield while investing in other higher-growth assets in areas of the market such as real estate or other equities."

"Finding the right mix of yield and growth can be difficult, but there are some high-quality dividend stocks investors should consider to create passive income streams. Here are three of the highest-quality high-yielding names in the S&P 500 for investors to consider. Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today."

Investors seeking meaningful passive retirement income must evaluate multiple asset classes and balance stability versus growth. Government Treasury bonds and other fixed-income securities provide stable, low-risk income, while real estate and equities offer yield plus higher growth potential. Identifying the right mix of yield and growth can be difficult. High-quality dividend stocks can create passive income streams. Three high-yield S&P 500 names are highlighted for investors seeking a 5% or higher yield on a $100,000 dividend-stock allocation to produce roughly $5,000 annually. Suggested holdings are intended as long-term positions held longer than five years. Altria Group (MO) is presented as a top dividend candidate despite product-related concerns.

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