The Snowball currently has £1,045 of xd dividends including cash, the destination when received unclear.
Author: admin (Page 42 of 310)
Brett Owens
The ONE Thing You Must Remember
If I could leave you with just one nugget of investing wisdom today, it would be to NEVER overlook the incredible wealth-building power of dividends.
Few investors realize how important these unglamorous workhorses actually are.
Here’s a perfect example…
If you put $1,000 in the dividend-paying stocks of the S&P 500 back in 1973, you would have had $87,560 by 2023, or 87x your money.
But the same $1,000 in the non-dividend payers would have grown to just $8,430 — 90% less.
That’s why I’m a dividend fan.
The stock market is a fantastic wealth-building machine, but it doesn’t always go straight up!
There have been plenty of 10-year periods where the only money investors made was in dividends.
And that’s what gives us dividend investors such an edge.
When you lock in an 8%+ yield, you’re booking an income stream that’s bigger than the stock market’s long-term average return right off the bat.
Of course you can’t just buy every ticker symbol out there with a flashy yield, or you’ll get burned pretty fast.
So let’s wipe the false promises of mainstream finance from our minds and start thinking the “No Withdrawal” way…
Step 1: Forget “Buy and Hope” Investing
Most half-million-dollar stashes are piled into “America’s ticker” SPY.
The SPDR S&P 500 ETF (SPY) is the most popular symbol in the land. For many 401(K)’s, this is all there is.
And that’s sad for two reasons.
First, SPY yields just 1.2%. That’s $6,000 per year on $500K invested… poverty level stuff.
Second, consider 2022 for a moment (and only a moment, I promise!).
SPY was down nearly 20% that year. That is no bueno, because that $500K would have been reduced to $400K.
The last thing we want to do is lose the money we’re getting in dividends (or more) to losses in the share price. Which is why we must protect our capital at all costs.
Step 2: Ditch 60/40, Too
The 60/40 portfolio has been exposed as senseless.
Retirees were sold a bill of goods when promised that a 60% slice of stocks and 40% of bonds would somehow be a “safe mix” that would not drop together.
Oops.
Inflation — plus an aggressive Federal Reserve, plus a (thus far) persistently steady economy — drop-kicked equities and fixed income before they went on a serious bull run in 2023 and 2024.
It just goes to show that bonds are not the haven guaranteed by the 60/40 high priests. They could easily plunge just as hard (or harder) than stocks in the next economic crisis.
Just like they did in 2022 (sorry, we’re only going to spend one more second on that disaster of a year). US Treasuries plunged, which resulted in the iShares 20+ Year Treasury Bond ETF (TLT) getting tagged.
Sure, it still paid its dividend. But even including payouts, the fund was down 31% — worse than the S&P 500. Ouch!
When stocks and bonds are dicey, where do we turn? To a better bet.
A strategy to retire on dividends alone that leaves that beautiful pile of cash untouched.
Step 3: Create a “No Withdrawal” Portfolio
My colleague Tom Jacobs and I literally wrote the book on a dividend-powered retirement.
In How to Retire on Dividends: Earn a Safe 8%, Leave Your Principal Intact, we outline our “no withdrawal” approach to retirement:
- Save a bunch of money. (“Check.”)
- Buy safe dividend stocks with big yields
- Enjoy the income while keeping the original principal intact.
Investing
The top UK dividend stocks as payouts come under pressure
Dividend payouts dropped in the second quarter due to exchange rate and economic pressures
By Marc Shoffman
A steep decline in special dividends and poor exchange rates hit income-hungry investors during the second quarter and payouts could fall further, research suggests.
Dividend stocks are popular among investors when looking at the top funds to invest in as they provide income and capital growth, but the companies behind them are not immune from stock market uncertainty, which can make payouts hard to predict.
Share transfer company Computershare’s latest Dividend Monitor shows UK companies distributed dividends of £35.1 billion during the second quarter of 2025, falling 1.4% on a headline basis year-on-year. It follows a 4.6% drop in the first quarter.
Get 6 issues for £1
- a free notebook
Stay ahead of the curve with MoneyWeek magazine and enjoy the latest financial news and expert analysis.
MoneyWeek
The decline was attributed to one-off special dividends halving to £2 billion, knocking five percentage points off the headline growth rate.
The weakening dollar also had an impact, reducing the sterling value of payments declared in dollars by £934 million during the second quarter alone.
The median growth in company payouts was 4.1%, just ahead of inflation but still relatively modest, and a proportionally large 22% of companies cut their dividends year-on-year, according to the report.
There are more positive ways to look at the dividend data though.
Once you strip out the special dividends and exchange rate factors, regular dividends were actually 6.8% higher at £33.1 billion, beating Computershare’s forecast by £230m.
Defence contractors and financials accounted for three quarters of the growth in dividends during this period.
“The outcome was even better than we anticipated owing to pockets of strength in a few sectors like finance and aerospace,” said Mark Cleland, chief executive of issuer services at Computershare.
“Overall, companies are cautious, tending not to announce significant increases in their dividends – indeed many have made cuts – and special dividends are in steep decline this year too.”
The top sectors for UK dividends
Aerospace and defence contractors Rolls-Royce and BAE Systems made the biggest contribution to growth, according to the research.
This was helped by Rolls-Royce, which paid its first dividend since the pandemic, with a £508 million payout to shareholders.
Its payout accounted for just under a quarter of UK underlying dividend growth in the second quarter, Computershare said.
Banks and insurers also made a significant contribution to second quarter dividend growth.
Payouts from banks jumped 8.1% during the quarter, contributing one third of the increase.
Rising profits among insurers, thanks to higher premiums, meant a 15% increase in their dividends, making up one fifth of the second quarter increase.
Mining stocks had the largest negative impact on dividends during the second quarter, where payouts fell 9.2%.
Rio Tinto cut its dividend in early 2025 as a direct response to weaker profits driven by falling iron ore prices and rising production costs. It was joined by reductions from Anglo American and Glencore.
Top UK dividend stocks
HSBC tops the table for dividend payouts in the second quarter, followed by Rio Tinto, Shell, Playtech and British American Tobacco.
The top five paid out £12.8 billion to investors during the quarter, 36% of all dividends paid during the period.
What is the outlook for UK dividends?
Dividend payouts are reliant on companies making a decent profit.
That is becoming more of a challenge in the UK amid rising taxes and economic uncertainty, while dollar exchange rates amid Trump tariff concerns are also putting pressure on payouts.
Computershare has cut its headline forecast for 2025 by £1.8 billion.
It blamed an expected drop in one-off special dividends, more share buybacks and exchange-rate factors, pushing the headline total down 1.4% year-on-year to £88.3 billion.
However, after stripping out exchange rates and one-off special payments, the relatively strong first half is enough to compensate for softness in the second half of the year and means an overall upgrade to underlying growth, Computershare suggests.
As a result, the report now projects an underlying increase of 2.8%, previously 1.8%, for the full year, delivering regular dividends of £85.1 billion in 2025.
Broken down by quarter, Computershare expects a 0.6% dip in the next three months and for payouts to be flat in the final months of the year.
Cleland added: “The underlying growth rate is the best way to understand how dividends are increasing over time, however the headline total is the actual income shareholders receive – and this remains under prolonged pressure.
“2025 is anticipated to be the third year of stagnation as slow underlying dividend growth, the strong pound, and lower special dividends as well as the drag caused by significant share buyback activity, are all combining to keep pressure on the amount companies are opting to distribute as dividends.
“Sustained economic growth in the UK and around the world is the key to driving UK payouts higher again, because it will enable companies to grow the profits investors want to see.”
Another look at Regional REIT
The Oak Bloke
Jul 22
Dear reader
I last looked at RGL in July 2024 in “RGL-me-this”. Looked twice actually. After all, I wrote an article basing my numbers on the data from both HL and Stocko but both were wrong. Their numbers were incorrect. I rewrote the article but it was the last time I took their data at face value. Oh how the detractors chortled at my error!
I revised my article based on new evidence and came away with a No, on balance at 137.4p.
A year later it is 125p so I was spot on where RGL dropped to 101p post Lib day in April. But it is up about a quarter over the past 3 months.
So worth another look? Upwards from here?
House broker Shore Capital say sure it is. “It’s now in robust strategic shape and increasingly now in charge of its own destiny”.
Hmmm.
They explain: “An ongoing programme continues…. a further pipeline of 40 assets currently valued at £102.6m is either in sale progress, on the market or being prepared for sale and we remain optimistic the majority of it can be successfully realised.”
Hmmm.
Disposals (net of costs) were £28.6m in 2024 and £25m in 2023. Years in which RGL was desperate to raise cash. So how will they accelerate their disposals by 2X to realise the majority? Or are we just talking 50.0001% of that £102.6m? What majority are we speaking of?
The reason I worry about Shore being so sure is I have one eye on the Bank Debt and £99.8m in due in just 12 months. Can they roll that forward? Probably. They are well within their covenants now. They stiffed their shareholders to stay in them in 2024 with a £110.5m equity raise which doubled the number of shares. Luckily for OB readers who followed my article they’d sold out before then.
The 2023 accounts showed a -£80m reduction in property values and 2024 followed with further bad news and the portfolio dropped a further -£50m, although there’s a tiny bounce up in 1Q25 of +£1.9m to £607.8m (NB disposals in the period were £1.6m). The start of a recovery?
“Today” was what I wrote in last July’s article (so the estimated position back last year) and “Tomorrow” was how I modelled for the year end (of 2024). The DEC-24 columns shows the actual result. Debt lower, with drops in working capital too.
Similarly I expected a drop in rental income, but the £14.33m result in 1Q25 shocks me a bit. That’s quite a bit lower. We also see higher property costs in 2024 too. -£19.3m is -£4.8m per quarter. Net profit of £20.9m is -19.7% lower than 2023. Is that a “robust strategic shape” you can see there? Not Shore about that.
Although there is better news that in 2025 seven new lettings and eight renewals worth £1.6m a year were let at 6.32% above ERV (estimated rental value).
That’s only £0.1m above, big deal?
But what if we apply that to the expiry profile let’s see what that means for income.
Nothing dramatic but applying some small rises and a period of zero rises, followed by some more small rises gets me to a renewed rentals of £64m, based on the current portfolio.
Disposals
The current portfolio is not going to remain as is. It’s going to change.
We learn that in 1Q25 they disposed of -£1.6m and post period -£6.2m more. So 2025 is so far going the same speed of disposals in 2023 and 2024 then.
The next bit is where it begins to get exciting. RGL speak of splitting its portfolio into four. Core is the good stuff, and fair play it’s 88.1% occupied and it’s the majority of the portfolio. Nice. A definite ray of sunshine appears, sure as eggs is eggs.
“Capex to Core” are the ones we are told we can expect shall be upgraded and therefore become core and enjoy a higher per square foot rental. I’m assuming a 25% increase and that the occupancy moves from 77.6% to 88.1%.
The third type “Value Add” are all about adding value and doing stuff to achieve a higher disposal value than its current book value. This will be change of use and potentially involve obtaining planning permission. Deduct £31m if you disagree with that idea but RGL speak of “greater potential” and quote examples with strong upside.
The “Sales” segment on the other hand I’m assuming lose about 20% of their value i.e. they get realised for 80% of their valuation.
If that’s the case then here’s the result:
We see that pro-rata to the rentals for the properties with occupancy is £496m of the property portfolio is actually occupied and generating rents (at the end of 2024). By completing the disposals the Core and Capex to Core gets you to £510m. The ERV (100% rent) was £77m but drops to £62.5m and at 88.1% occupancy but with a 5% bump that’s a £57.33m annual rent…..
But that assumes 88.1% occupancy is the best it can get. Clearly that not true in a more robust environment. As the portfolio rises above 90% (on the basis of a recovery in the demand for offices) the prior £60.7m rental income appears achievable. To speed that outcome, rental values are rising again in 2025 and are reflected in the 2025 letttings PSF rates achieved.
The real benefit is that an estimated £150m capital potentially reduces debt down or put another way there’s £200m+ of headroom “to do something”.
I can’t shake the feeling that the plan in that scenario could be to develop one or more of its assets under the “value add”. Using debt and that headroom to fund one or two potential GDVs of gross development values of £100m+ and £200m+ on properties that today are valued circa £10m, leaves potential for RGL plus a developer to make a mutual return. OB idea Watkin Jones is one such example of a potential partner.
Valuation
RGL has always been a good dividend payer and its recent news to increase the dividend to 2.5p per quarter means 10p a year and 10% yield for those lucky enough to buy at the April low, and a still decent 8% yield for today’s punter. Is that tempting?
I can see a £23m adj. net profit from the rentals in a reasonably near future. On a marcap of £204m that’s an 11.5% return.
But then you must compound the expectations that a ~£500m property portfolio of mainly freehold offices can expect to appreciate in value too. By 5% a year? That’s a £25m gain on top.
11.5% becomes a 24% ROE. Now we’re talking.
The ~£500m of property are valued at £106.1m per square foot. That’s £1,141 per square metre. That’s about 60% BELOW the replacement cost of building an office. These construction cost numbers are from 2023 so are proably higher in 2025 too.
Conclusion
Given we see the turning of the tide I’m turning my decision from a SELL to a BUY. I was initially sceptical of the broker’s breezy optimism. Could the refinance be a menace? Yes it could. There is a theoretical risk, although it also seems unlikely to think a bank will not support a property manager with existing cash, in a rising market, and where the debt is quite low, not near to covenants and fully covered by income.
Regards
The Oak Bloke
Disclaimers:
This is not advice – you make your own investment decisions.
For the graphs
The big fall in the chart was the ending of the dotcom bubble.
For dotcom read AI, dotcom mania took a long while to reach it’s conclusion so it’s better to follow than repeat. TR or a Dividend Re-investment plan ?
The graph includes earned dividends which could be re-invested in a high yielding Investment Trust, earning more dividends to re-invest in a high yielding Investment trust.
£20k in an ISA ? 2 top ETFs to consider from the London Stock Exchange
Whether it’s high-yield dividends or growth, there are plenty of options on the London Stock Exchange to help build long-term wealth.
Posted by Ben McPoland
Published 21 July
When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.Read More
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.
The London Stock Exchange is packed with thousands of shares, investment trusts, and exchange-traded funds (ETFs). So much so, the challenge isn’t finding investment opportunities, but narrowing them down.
With this in mind, here are two ETFs that I reckon are worth considering for a £20,000 Stocks and Shares ISA.
A ready-made portfolio of dividend payers
First up is the iShares UK Dividend UCITS ETF (LSE: IUKD). This gives diversified exposure to high-yield income stocks from the Footsie and FTSE 250.
It currently has 51 holdings, including British American Tobacco, Legal & General, BP, Aviva, Lloyds, and HSBC. The dividend yield is 5.32%, comfortably above the FTSE 100‘s 3.4%.
In practice, this means the ETF is offering £532 in annual income from a £10,000 investment. Then there’s the possibility of share price appreciation on top, though markets do fall as well as rise, of course.
Now, one risk here is that the focus is solely on dividend stocks listed in the UK. Therefore, if this type of share suddenly falls out of favour, the ETF would underperform. Plus, another pandemic-type event could see many companies suspend dividends again.
However, I’m encouraged by the share price performance here. Over five years, the iShares UK Dividend ETF is up around 50%. Adding in the income too, that’s a solid return.
Looking at the portfolio, which contains many cheap UK shares, I think the ETF will carry on doing well in future.
The robots are coming
Next is the iShares Automation & Robotics UCITS ETF (LSE: RBTX). As the name implies, this tracks global companies dedicated to automation and robotics innovation (140 of them).
This area is expected to enjoy robust growth over the next decade due to manufacturing and warehouse automation, industrial Internet of Things, self-driving cars, and intelligent software that can execute tasks autonomously (AI agents).
Top holdings include Nvidia and Advanced Micro Devices (AMD), the chipmakers that provide the computational muscle behind everything from AI chatbots to humanoid robots.
On the industrial side, Rockwell Automation and Emerson Electric are powering the next generation of smart manufacturing, while Intuitive Surgical is a pioneer in robotic-assisted surgery.
ServiceNow and Snowflake are involved with AI agents in one way or another. As Amazon CEO Andy Jassy recently said: “Many of these agents have yet to be built, but make no mistake, they’re coming, and coming fast.”
Since its launch in 2016, the iShares Automation & Robotics ETF is up 210%. That’s impressive, while the ongoing charge of 0.40 % is reasonable for a high-quality thematic ETF, in my opinion.
As for risks, areas of the robotics industry can be cyclical, so a global slowdown could dent performance for a while. Also, nearly 69% of the fund is in technology stocks, meaning any sell-off in that sector would impact the fund.
Looking ahead, however, I’m bullish on this ETF’s prospects. There’s a good mixture of large and smaller business across hardware, software, and industrial engineering.
Nvidia CEO Jensen Huang has declared that “we are at the beginning of a new industrial revolution“. This ETF offers bags of exposure to this, making it worth considering for a growth-oriented ISA.
£20k in an ISA? Here’s how it could be used to target £423 of passive income each month
Earning money from dividends in an ISA is one way to set up passive income streams. Our writer explains how it might work in practice.
Posted by Christopher Ruane
Published 22 July
When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.
There are different ways to earn passive income and one that I like myself is in blue-chip shares that pay dividends. Doing that with a £20,000 ISA could see income streams of hundreds of pounds per month in future. Here’s how.
Dividend income from proven businesses
Dividends are one way for a business to use excess cash it generates. There are others, though – and not all businesses generate spare cash. So, dividends are never guaranteed and even when they have been paid before, they are not guaranteed to last.
Therefore, I think it is important for an investor to take care when choosing dividend shares for their ISA. For example, just looking at a current yield does not necessarily set a reasonable expectation of likely future income. Instead, one needs to understand the source of a firm’s free cash flows and how likely they are to continue.
For example, does it have a proven business model? As it grows sales, does it make money or lose money? What sorts of expenditure might crop up, using up money otherwise available to pay dividends?
Big companies can pay big dividends
But while dividends can come and go, a diversified selection of the right shares can generate meaningful passive income – especially for someone who is willing to take a long-term approach to investing.
For example, if a £20,000 Stocks and Shares ISA was compounded at 8% annually for 15 years, it should grow to a size where an 8% dividend yield would equate to £423 per month on average in passive income. That is without having to take any capital out of the tax-free wrapper.
Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.
That 8% is well above the current average FTSE 100 yield of 3.3%. But the compound annual gain I mentioned above can be driven not only by dividends, but also by share price changes. And while the average yield is 3.3%, plenty of FTSE 100 firms offer higher yields.
A high-yield performer
As an example, one share I think investors should consider is Lucky Strike manufacturer British American Tobacco (LSE: BATS).
Not only it its yield 6.3%, the company aims to keep raising its dividend per share annually – as it has already done for decades.
Can it do that?
On the one hand, a strong stable of premium brands and proven massive cash flow generation potential work in its favour. On the other hand, declining cigarette sales volumes pose a challenge to the business even maintaining, let alone growing, its profitability. Revenues have fallen for the past couple of years in a row.
All shares involve risks, but the long-term demand picture for cigarettes is a notable risk, in my view, not only for British American but also rivals. However, I continue to think it has sizeable cash generation potential as a business. It continues to sell billions of cigarettes per week.
Getting started
In my example I mentioned a £20,000 ISA. The same approach could work with less money – even much less – although the passive income streams generated would be proportionately smaller.
An obvious first move for a passive income hunter would be to compare some of the many different Stocks and Shares ISAs available, to decide what one suits their own needs best.
These 6% Tax-Free Dividends Are Languishing (for Now). Here’s When to Strike
Michael Foster, Investment Strategist
Updated: July 14, 2025
With stocks levitating higher, you just might be starting to peek at other investment ideas (bonds? REITs?) to spread out your risk and, most importantly, boost your dividends.
It’s always a smart strategy, and especially so now. We ran through an easy way to diversify while grabbing yourself a healthy 7.9% payout in last Thursday’s article (click here to catch up if you missed it).
“Munis” Cut Your Taxes, Boost Your Payouts—But Timing Matters
Which brings me to my favorite income plays, closed-end funds (CEFs), and in particular those that hold municipal bonds. (“Munis” are issued by state and local governments to fund infrastructure projects. Their dividends are tax-free for most Americans.)
In a second, we’ll look at one overpriced muni-bond CEF that’s about to tumble—and another kicking out a 7.4% dividend that’s trading at a rare discount (I’m talking 10% off its “true” value here).
How an 8% Yield Becomes 13%
Muni-bond CEFs’ tax breaks can make a big difference. To give you a sense of just how much of a difference, the one muni-bond CEF in the portfolio of my CEF Insider advisory yields around 8%, but that could be worth 13% to you on a taxable-equivalent basis depending on your tax bracket.
Despite that, we do only hold that one muni-bond CEF now. That’s in part because, when you look at benchmark index funds for the S&P 500, high-yield bonds, REITs and munis, you’ll see that munis (in green below) were the worst performers through the first half of this year.
Munis Trailed the Pack in the First Half of ’25
However, with the recovery in the S&P 500, it seems that munis’ fortunes will probably change for the better as investors begin to fear a correction in the stock market and look for a steady, high-yielding (not to mention hugely tax-advantaged) alternative.
Over the last five years, the main muni-bond index fund has been basically flat. That’s partly because stocks have been on a solid run, drawing attention away from munis.
But here’s the thing: When this kind of lull in the muni-bond market happens, it’s usually followed by a strong showing, especially if the rest of the market pulls back.
Muni Bonds Delivered in the 2008 Mess
From 2007 to 2009, for example, muni bonds made little progress until the 2008 market selloff sent them to surging (see the orange line above). That gave muni investors an 8.3% annualized return in two years while stocks were crashing.
A (Near) Repeat of History
Fast-forward to the first half of 2025, and it looked like stocks were about to repeat what had happened nearly 20 years ago. But then they recovered, for the simple reason that, despite all the drama, the US economy is doing fine.
The economy’s continued strong growth is something we’ve been stressing at CEF Insider this year, despite the panic. And this is why we’ve held off on muni-bond CEFs instead of leaning into them.
Not everyone has done the same, however.
Top California-Based Muni-Bond CEF Gets Bid to the Moon
Here we see that the Invesco California Value Municipal Income Trust (VCV) has ranged from a deep discount to net asset value (NAV, or the value of its underlying portfolio) to a nearly 5% premium in 2025. In other words, investors are currently paying almost 5% more than VCV’s portfolio is actually worth!
Trouble is, that stark premium does not reflect growth in the fund’s NAV. Therein lies the problem (and the risk).
VCV’s Portfolio, Market-Price Returns Part Company
On a total-NAV-return basis, VCV is down more than 6% in 2025, as you can see in orange above. More worrying is the fact that VCV’s total price return is nearly flat, after a rise that’s happened in the last few weeks.
In other words, the fund’s premium has been pushed up by investors not selling it in response to that NAV drop. That lack of a response is why I urge anyone holding VCV to sell now.
To be fair, this is a well-managed fund, and California has booked higher tax revenue in the last decade as industries (tech and media most obviously) have posted profit gains.
Plus, the fund’s 7.4% yield is higher than the average 6.4% yield across muni-bond CEFs tracked by CEF Insider. But that means VCV is a good buy when it’s underpriced, not now, when it’s overpriced.
And we definitely will want to buy underpriced muni-bond CEFs when we can, because this underperformance has lasted too long: Munis have been out of favor for about three years now, way longer than prior lulls.
Plus, stocks have recovered, despite the selloff earlier this year, and another selloff could cause selling in other markets, too. That would make muni bonds a good option for hedging risk elsewhere. VCV would be high on our list, but only when it swings to a discount.
But what if VCV doesn’t swing to a discount or keeps losing value, like it has been? In that case, we might consider a CEF like the abrdn National Municipal Income Fund (VFL), a 6.2% yielder trading at a 10.3% discount to NAV.
This discount is strange, since VFL holds bonds from several states, so it’s well diversified. Plus, munis are one of the world’s safest asset classes.
In other words, this deal can only stick around for so long.
For that reason, if you’re looking to get into (or add to your holdings of) muni bonds, take a look at VFL—or one of the other high-yielding muni-bond CEFs out there that aren’t trading for more than their portfolios are worth.
Contrarians Are Shifting, But NOT Into Munis—Yet (Here’s Where They’re Going Instead)
Muni-bond CEFs are hands-down one of the best ways to diversify your portfolio. They give you income. Stability. High yields. And a tax break that can be a game-changer.
But, of course, they’re only one option for diversifying. And as I said above, now is a good time to buy them. But it’s not yet the best time.
