Read here for 5 dividend stocks that offer a rare combination of high yields, wide moats, strong balance sheets, and growing payouts for a lifetime of passive income.

Investing in exchange-traded funds (ETFs) is one of the easiest ways to start generating passive income. You don't have to manage a portfolio of stocks. Instead, you can buy a few diversified funds and just sit back and watch the income passively flow into your portfolio.

You can buy a bunch of stocks that pay quarterly dividends and set it up in such a way that you get monthly dividends. For instance, you can buy one stock that pays in January, another stock that pays in February,