Unlock Passive Income: 3 Stocks to Invest in for Decades of Steady Returns

Generating passive income can be a game-changer for your financial future. While there's no such thing as easy money, once you have capital to invest, you can leverage it to create a steady stream of earnings. However, not all investment options are created equal. Some require constant monitoring, while others offer the potential for long-term, hands-off growth. In this article, we'll explore three stocks that could provide decades of passive income, making them ideal for investors seeking financial security and stability.

Unlock Passive Income Potential with These Powerhouse Stocks

AbbVie: A Dividend King Poised for Continued Growth

AbbVie (NYSE: ABBV) is a pharmaceutical giant with a market capitalization of around $345 billion, making it one of the largest biopharmaceutical companies in the world. Its product lineup includes several blockbuster drugs, as well as a promising pipeline of new treatments with the potential to generate over $1 billion in sales.While AbbVie's forward dividend yield of 3.17% may not seem overly impressive, the company's dividend track record is truly remarkable. AbbVie has increased its dividend for an astounding 52 consecutive years, earning it a coveted spot in the elite group of Dividend Kings.The primary concern surrounding AbbVie has been the impact of biosimilar competition on its top-selling drug, Humira. However, the company has demonstrated its ability to navigate these challenges successfully. AbbVie expects to quickly return to growth, thanks to the strong performance of its other rising stars, including Rinvoq and Skyrizi, which are poised to fill the void left by Humira.This ability to adapt and innovate in the face of patent expirations underscores why AbbVie is an excellent choice for investors seeking long-term passive income. The company's strategic approach to extending Humira's market dominance while simultaneously investing in new drug development and strategic acquisitions suggests it is well-equipped to handle future patent cliffs and maintain its position as a reliable dividend payer.

Brookfield Infrastructure: A Diversified Play on Global Infrastructure

Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) is a unique investment opportunity that provides exposure to a diverse portfolio of infrastructure assets around the world. The company's holdings include cell towers, data centers, electricity transmission lines, pipelines, rail, semiconductor manufacturing foundries, toll roads, and more.As a former limited partnership (LP), Brookfield Infrastructure pays distributions instead of traditional dividends. These distributions are highly attractive, with a forward yield of 5.12% for the LP (BEP ticker) and 4.04% for the corporate entity (BEPC ticker).What's particularly impressive about Brookfield Infrastructure's distributions is their consistency and growth potential. The company has increased its distributions for 15 consecutive years and expects to continue this trend with annual distribution growth of 5% to 9%.Brookfield Infrastructure's success is underpinned by a repeatable, long-term growth strategy. The company acquires infrastructure assets that are undervalued, then enhances their value through its operational expertise. Once these assets mature and have limited growth potential, Brookfield Infrastructure sells them to fund new, more promising investments.This disciplined approach to capital allocation and asset management has allowed Brookfield Infrastructure to deliver consistent returns to its shareholders, making it an attractive option for investors seeking reliable passive income over the long term.

Verizon Communications: A Telecom Giant with a Juicy Dividend

Verizon Communications (NYSE: VZ) is one of the largest telecommunications providers in the world, and it's a household name for many Americans. The company offers a forward dividend yield of 6.27%, the highest among the three stocks featured in this article.Verizon's dividend track record is also impressive, with 18 consecutive years of dividend increases. With the company's improving free cash flow, investors can expect this streak of dividend hikes to continue.While Verizon may not be known for its sizzling organic growth, the company is well-positioned to expand through strategic acquisitions. A prime example is Verizon's planned $20 billion acquisition of Frontier Communications, which will significantly expand the company's fiber footprint in the United States.For value-oriented investors, Verizon's stock also offers an attractive valuation, with a forward price-to-earnings ratio of just 9.3. This suggests the market may be underappreciating the company's long-term potential.Ultimately, Verizon's combination of a generous dividend yield, consistent dividend growth, and a solid acquisition strategy make it a compelling choice for investors seeking reliable passive income over the decades to come.