Want Decades of Passive Income? Buy This ETF and Hold It Forever.

Investing always requires patience. Even if you're looking for the hottest growth stocks, there aren't any magic shortcuts to instant riches. Real wealth is built over many years, thanks to the mathematical magic of compound returns.

That's even more true in the field of income investments. Growth investors often use dividend reinvestment plans (DRIPs) to buy more shares and boost their long-term returns with every dividend payment. Generating income from your investment means leaving the DRIP checkbox unchecked, collecting cash payouts instead of reinforcing your investments.

So the criteria for a successful income investment are a bit different. You may not care much whether the price of your chosen stock or exchange-traded fund (ETF) is going up or down, as long as it offers robust dividend payouts in pretty much any economy.

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