January is definitely slower for me when it comes to beer money sites, but that may be because I am busier in my personal life. However, I still pulled in just over $60 dollars this past week and picked up another share of MAIN and 2 shares of PSEC. The monthly dividends are starting to roll in and that certainly helped me this week as well.
Looking ahead I hope to maintain a high yield, but hedge against some of these more speculative picks with some dividend ETFs like DIVO, PEY, and SPHD. Maybe I’ll even throw BND in there towards the end of the year – who knows? Right now I’m still looking to add a couple individual stocks like GAIN and SLRC. Again, these are risky and highly speculative, but the goal is to get to $100 a month in dividends quickly. I know I lowered my overall yield a bit with O, but it still has a yield above 4% and I know the dividend will likely continue to increase so it’s a decent hedge against these higher yield stocks if they drop dramatically.
I still don’t have enough diversification. I know I need a solid 20 to 30 stocks to accomplish that and the dividend ETFs should help, but I imagine I’ll have to end up picking some stocks that pay quarterly and try to time them out so I get a similar payout each month.
While I may not have enough diversification in stocks, I have diversified quite a bit with my beer money income sources. There are several new sites listed on my income page now. I also updated my list of goals for 2023. It helps to incentivize me more and I try to look at them as achievements or badges earned in this beer money dividend game.