Passive income. Sounds nice, doesn’t it? Like you can just sit back in a sunny lounge chair while the money rolls in. That’s essentially what it is – an income stream that doesn’t require work. You may have even heard dividend income referred to as passive income.
I suppose it is, if you have someone managing your portfolio for you. But for those of us outside the billionaire club that may not be able to afford the best money managers and don’t trust the rest, generating portfolio income – especially enough to live on – can sometimes be a mental and emotional feat worthy of an Olympic gold medal (or at least the bronze). It only makes sense that the resulting, sometimes-not-so-passive income you generate should be as profitable as possible. Here’s a simple, but effective strategy you can use to get more bang for your buck: VectorVest calls it the Double Juicy strategy.