If I get to $2,000 a month in dividends, I think I can do anything I want. I was laid off when I was 26 and decided to sell everything and move to New York City to be a musician. I lived there ultra happily on $2,000 a month. If I can live in Greenpoint for that much, I can live anywhere for that much.
Some stocks pay cash dividends. Like in your Bank of America account, they will put cash in your account if you own their stock. This doesn’t have to happen in a 401k. I do this in my personal investing account and it is all I like to buy right now. Some pay yearly, quarterly, and recently some started paying monthly. I have been buying various monthly dividend stocks to reach this $2,000 a month goal.
I love buying income and that is what this is. It is income. Money in the bank.
Some people want an $8 beer, I want $8 in a dividend paying stock. In a month, that $8.00 is gonna pay me $0.05 and your beer is going to be gone. Then you say “you are going to hate your life! All you got was 5 cents? I rather just have a beer blah blah.” First off, I am NOT telling you to do this. I would actually recommend to NOT do this. I’m totally obsessed with this stuff. You should have a dog and a family, don’t get addicted to small amounts of money like I am. I get being addicted to big money like the billionaires are, buy what I do is border line petty. It takes years of consistent investing and sacrifice. The thing is, I don’t want or need a billion dollars… I need like a million. Which is a lot, but come on - I can get to that if I work hard and the stock market does what is has done for the past 100 years. It is a slow and steady process and you can find that process here.