Want Decades of Passive Income? 2 Top Dividend Stocks to Buy in 2025 and Hold Forever.

Sweet, beautiful cash delivered straight into your investment account year after year -- it doesn't have to be just a fantasy. There are smart moves you can make today to begin building your own passive income streams. Here are two rock-solid dividend stocks that could send you cash payments for the rest of your life.

Dividend stock to buy No. 1: Waste Management

Dependability is a key factor when evaluating passive income streams. And unless people suddenly stop producing garbage, Waste Management (NYSE: WM) -- the leading supplier of waste management services in North America -- is as reliable a dividend stock as you'll find.

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WM provides trash collection and recycling services to businesses and communities. Its landfill and transfer station network serves a large swath of the U.S. and Canada. Stiff homeowner opposition and stringent regulations make it hard for competitors to encroach on WM's turf. These dynamics help to protect the trash titan's profits and reduce the risks for shareholders.

Waste management is a recession-resistant business, as trash still needs to be collected during market downturns. Still, WM stands to benefit from population and economic growth, both of which should drive its disposal volumes and earnings higher in the decade ahead.

Acquisitions offer an additional growth lever. WM likes to buy smaller waste service providers that expand its reach and earnings power. In November, the garbage giant supercharged these efforts with its $7.2 billion purchase of Stericycle, a leading provider of medical waste disposal services. Management expects the deal to boost WM's cash flow generation in the coming years.

Investors can thus safely expect WM's 22-year streak of dividend increases to continue. This dividend stalwart's shares currently yield a solid 1.5%.

Dividend stock to buy No. 2: AT&T

If you'd like to build an even larger stream of passive income, take a look at AT&T (NYSE: T). The telecommunications behemoth has long been a favorite of dividend-focused investors. It's easy to see why. AT&T's well-supported yield stands at a hefty 4.5% today.

AT&T's ability to provide bundled wireless and broadband internet services gives it an edge over stand-alone connectivity service providers. Its combined 5G wireless and fiber internet offering is proving popular among consumers who value simplicity and cost-savings.

In the fourth quarter, AT&T gained 482,000 postpaid phone subscribers, who are typically the most profitable customers for wireless companies. The telecom colossus also added 307,000 fiber customers, marking the 20th consecutive quarter that it added at least 200,000 broadband internet accounts.

These customer gains are fueling growth in AT&T's already bountiful cash generation. Management sees the company's free cash flow rising to more than $18 billion by 2027, up from roughly $16 billion in 2025. In turn, AT&T intends to reward its investors with a whopping $40 billion torrent of dividends and share repurchases over the next three years.

AT&T also plans to use some of its abundant cash flow to further its debt-reduction efforts. The wireless leader is on track to hit its net debt-to-adjusted earnings targets in the first half of 2025. A stronger balance sheet and improved debt-to-income ratios should result in lower financing costs, which could provide a significant boost to AT&T's profits in the coming years.

Better still, AT&T's stock can be had for less than 11 times its projected free cash flow in 2025. That's quite a bargain for this passive income-producing dividend dynamo.

Should you invest $1,000 in AT&T right now?

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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Waste Management. The Motley Fool has a disclosure policy.