Here's My Highest-Yielding Dividend Stock Right Now (It Pays 10.9%)

I love to collect passive income. Right now, it provides me with additional money to invest. In the future, I plan to live on the passive income my portfolio produces.

I own many high-yielding dividend stocks. The highest yield in my portfolio currently belongs to Enterprise Products Partners (NYSE: EPD). My yield on cost is 10.9%, which is much higher than the master limited partnership's ( MLP ) current yield of 5.9% based on its recent trading price. Here's why I have such a high yield on my position and why it's important to look beyond a stock's current yield when investing for passive income.

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