How to Easily Make $14/Day TAX FREE in Passive Income!

This past week, I’d discussed how investors could look to construct a passive-income portfolio going forward. It is a luxury for investors to be able to rely on consistent income without having to get up off the couch. This is even better when you can generate that income in a Tax-Free Savings Account (TFSA). Today, I want to discuss how investors can look to churn out $14/day tax-free in the year ahead. Let’s dive in. This REIT offers a monster dividend for passive-income investors

Real estate investment trusts (REITs) are a great source of passive income for investors. Inovalis REIT (TSX:INO.UN) is an open-ended REIT that his primarily invested in office properties. Shares of this REIT have increased 1.5% in 2022 as of early afternoon trading on February 8. It is up 5.7% year over year. In the year-to-date period ending Q3 2021, this REIT delivered operating earnings of $48 million — up from $12 million in the first nine months of 2020.

Inovalis REIT closed at $9.96 per share on February 7. In our hypothetical, we’ll use all the cumulative TFSA room available — $81,500. We will purchase 2,800 shares of Inovalis REIT for a purchase price of $27,888. Inovalis offers a monthly dividend of $0.069 per share. That represents a monster 8.2% yield .

This investment will allow you to generate monthly income of $193.20 in your TFSA. That works out to $6.35 per day. Here’s an energy stock that can help you gorge on dividends

Energy stocks have been a great bet for Canadian investors over the past year. Oil and gas prices have continued to build momentum in the opening weeks of 2022. Keyera (TSX:KEY) is a Calgary-based company that is engaged in the energy infrastructure business. Investors on the hunt for passive income should […]

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