I’m half way there. Over $50 dollars a month in dividends. Passive income. I wanted to be sure since dividends for funds can often change month to month, but I feel pretty confident in saying I have reached the half way point toward my goal of earning $100 dollars a month in dividends.
I honestly didn’t think I’d get here this quickly, but at the same time I realize I’ve been at it for over a year with over $10,000 invested at this point. So perhaps it wasn’t so quick, but with small, consistent investments it really does feel like it adds up quick. I’m most proud that I’m using additional income that I’ve earned outside of my job to achieve this feat.
The biggest takeaway, though, is that as I get closer and closer to my goal, I’ve realized that the dividend kings and aristocrats – the stocks of solid companies that have raised their dividends for 25 to 50 years – are the best for a growing income portfolio. I could have continued focusing on higher yielding stocks or funds, but in the long run I will end up getting more raises every year if I just bite the bullet and invest in them now. Interest rates may rise and fall, but as I said before, this is the closest thing to a guarantee when it comes to passive income.