How To Earn $1,000 A Month In Dividends With A $350,000 Investment? Redditors Share Their Top 10 Stocks And ETFs

With inflation remaining high, stock market volatility on the rise and unemployment climbing, American families are seeking reliable ways to invest their savings and secure a steady stream of monthly dividend income.

But where should you invest your savings to lock in a monthly income that would be enough to at least pay your bills? An investor with a decent sum of money looking to earn in dividends turned to Reddit about a year ago to find answers to this question. He earned about $900 quarterly with about $50,000 as an initial investment. The investor asked the r/Dividends community of over 550,000 members which stocks or ETFs would be suitable to put an additional $300,000 into to reach at least $1,000 per month.

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As always, Redditors jumped in with their tips, stocks and fund recommendations and personal success stories about earning monthly dividend income. We sifted through their discussion and highlighted some of the most promising high-yield stocks and ETFs they suggested.

The ETFs and stocks mentioned in the article are purely for informational purposes and are based on public comments made during a discussion on Reddit. These are not recommendations or investing advice. 

iShares 0-3 Month Treasury Bond ETF

Redditors recommend iShares 0-3 Month Treasury Bond ETF SGOV for anyone who has a sizable budget and wants steady checks every month. The ETF tracks the performance of U.S. Treasury bonds with maturities of 0-3 months. However, Redditors recommended that the questioner invest in the ETF about a year ago. If you decide to invest in the ETF right now, you will likely see a drop in yields soon since the Federal Reserve's rate decisions can impact returns. 

PIMCO Access Income Fund

PIMCO Access Income Fund PAXS aims to generate monthly income and seeks capital appreciation by investing in fixed-income securities, corporate debt, mortgage-related and other asset-backed instruments. The fund yields about 12%. 

JPMorgan Nasdaq Equity Premium Income ETF

As expected, JEPQ made it to the list of dividend ETF recommendations by Redditors since it's a highly popular income ETF on social media. JPMorgan Nasdaq Equity Premium Income ETF JEPQ is a covered call ETF that distributes monthly income and invests in Nasdaq companies.

JPMorgan Equity Premium Income ETF 

JPMorgan Equity Premium Income ETF JEPI makes money by investing in some of the most notable large-cap U.S. stocks and selling call options. 

The Simplify Volatility Premium ETF 

The Simplify Volatility Premium ETF SVOL is an interesting high-yield (16%) dividend ETF that's gaining popularity on Reddit. The ETF generates income by shorting the CBOE Volatility Index (VIX) and bets that volatility will remain stable or decrease. Since the broader market tends to go higher in the long term, investing in this ETF is suitable for those looking for stable income checks.

Schwab U.S. Dividend Equity ETF 

Schwab U.S. Dividend Equity ETF SCHD tracks the Dow Jones U.S. Dividend 100 Index and gives investors exposure to some of the top dividend stocks trading in the U.S., including Home Depot, Coca-Cola, Verizon, Lockheed Martin, Pepsi, and AbbVie. 

Devon Energy

Some Redditors also recommended Devon Energy Corp DVN to the questioner who is looking to make a $350,000 dividend portfolio. Devon Energy yields about 4%. Earlier this month, the company raised its full-year oil production outlook and beat analysts' estimates for the second quarter.

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Realty Income

Several Redditors think adding Realty Income Corp O to a dividend portfolio to earn a healthy monthly income is a good option. The monthly dividend-paying REIT has increased its payouts for 30 consecutive years. 

Altria

Redditors believe that, with over a 7% dividend yield and 54 straight years of dividend increases, Altria Group Inc MO is a decent option for any high-yield dividend portfolio. Altria is swiftly diversifying its revenue stream away from traditional tobacco with its e-vapor product NJOY and nicotine pouches.

Vanguard Treasury Money Market Fund 

A Reddit user recommended Vanguard Treasury Money Market Fund VUSXX enthusiastically, saying he makes about $1,500 per month in interest income with a $350,000 investment in the fund.

The Vanguard Treasury Money Market Fund invests in short-term treasuries and yields about 5.4% as of August. It's another suitable fund for investors in search of stable monthly income. However, with potential interest rate cuts on the horizon, investing in the fund right now might not be a good option for those looking for high yields in the short term.