Just hit a HUGE Dividend Milestone
Decade Investor
June 02, 2023
As you all know, my goal on socials is to share my journey. Today, I bought $2,000 worth of SCHD & crossed over a HUGE dividend milestone.
While I am not a dividend investor, I do track my dividend income. Most of my money is invested in VOO, which is the S&P 500. That is NOT a dividend ETF. However, it does pay dividends. I like to track my dividend income because it allows me to see how close I am to my dividend goals. As of June 2, 2023, I finally crossed over a dividend income goal I have had for a while… $10 a day in dividends!
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I started tracking my dividend income in January of 2020.
In my first full year of tracking it, I collected $180.31 in dividends. Fast forward to today, so far in 2023 I have collected $830.76 in dividends & am on track to earn over $3,000 this year alone. This is the power of the dividend snowball.
While I do not technically get paid $10 a day in dividends, if I were to take my annual income & average it out over the year, I would earn $10 every single day. This means no matter if I work or not, no matter if it is a week day or not, no matter if I sleep in or not, I will earn $10 a day.
My 2023 goal is to grow this daily income to over $11 a day. But at the rate I have been investing, I should surpass that sooner rather than later. I would love to get to $15 a day in dividends by the end of 2023, but that is a stretch goal.
How I will increase my dividend income:
Invest more money
I buy mostly VOO but with other money I do buy SCHD & a few other ETFs. However, every time I buy, I am adding to my dividend income. As I buy more shares, I buy myself more annual dividend income. Every week, my income increases.
Reinvest my dividends
Each time I get a dividend payout, I reinvest it to buy even more shares. For example, I am set to get paid around $1,800 in dividends this year from VOO. I am reinvesting all of it. Because of that, I will buy myself ~4.8 more shares of VOO from dividends. DRIP BABY DRIP.
Companies raise their dividends
This one is out of my control, but I am focused on investing into companies/ETFs that will hopefully increase their dividends every single year. This will inherently increase my dividend income without me having to do anything.
If I put those 3 things together, over the course of the next 20+ years, my dividend income should grow every single year. Eventually, I will be making $100 a day, $200 a day, $500 a day in dividends. That is the goal.
My Buys This Week:
I read a tweet by a Twitter friend of mine who trades stocks. He said to always take profits & buy long term holds with it. So… that is what I am going to start doing. Notice the bump in SCHD buys!
ETFs: $250 in VOO + $2,000 in SCHD (I now own 100 shares of SCHD in my options account!) + $500 in JEPQ +
Individual Stocks:
Tweet of the Week:
You know I love to talk about cars. 84-month car loan… “no problem!!!!” 7 years of investing… “too long!”.
People think 7 years is "too long to invest" but will not think twice about signing up for a 7 year car loan.
Broke mindset.
— Decade Investor💸 (@DecadeInvestor)
Jun 1, 2023
Thank you so much for reading & I will see you next week! Until then, keep buying assets & stacking those dividends. 🙂
- Decade Investor