Daniel Foelber (Conagra Brands): Shares of Conagra Brands are hovering around their five-year low. The owner of such well-known brands as Slim Jim, Reddi-Wip, and Orville Redenbacher's has been under pressure as demand slows across the packaged food industry.

Passive income is money earned with little to no ongoing effort, unlike traditional income that requires active work.

Investing in dividend growth stocks is a great way to achieve financial independence. Read more to see my 2 high-yield dividend stock picks.

Oil stocks can be excellent sources of passive income for investors who can stomach the volatility of the cyclical energy sector. ConocoPhillips (NYSE: COP) is the largest U.S. exploration and production (E&P) company by market capitalization and has an elite portfolio of assets that can perform well even at weaker oil prices.

Warren Buffett's safest passive income stocks are perfect for baby boomers looking to supplement Social Security or pension payments.