I just calculated the dividends I will receive over the next 12 months. I have finally topped the $250 mark.
In order to consider myself financially free I need to have $6,000 a year minimum in passive income, or $500 a month.
I am halfway to my one month’s goal, even with the sizeable investment I’ve made in one non-dividend paying stock.
I am 1/24th of the way to achieving my goal of freedom.
All I have to do is repeat that feat 23 more times and I will be free. While I won’t quit working at that point (I won’t feel safe unless I have considerably more than I need to live on coming in to avoid what happened with my book royalties), things will start moving a bit faster now. My dividend payouts are becoming large enough now to actually move the needle when I reinvest.
You truly can become financially free through dividend investing. I am seeing evidence of that in my own investment account. All you have to do is drop your expenses as low as they can go, build a small emergency fund (so you’re never tempted to sell your stock), and invest every penny you can afford to spare into dividend stocks.
Each and every month you simply repeat your actions, rolling over your dividends until you eventually gain your freedom.
Anyone can do this. All it takes is a bit of patience and a willingness to learn. The speed of your results will be based upon how much you need to live on and how much you can invest each month, but this is completely do-able. If I can do this while earning around $700 a month income between my public job and my book royalties, the average person who makes a lot more than me can do even better.
It just depends on one thing:
How badly do you want your freedom?