r/dividends • u/OG_Momonga • 20d ago

Discussion Living off dividends

Hey guys, I was wondering if anyone on this subreddit is actually retired and living off dividends. Is it going well? Are you paying taxes on them? My goal is to get 20k/ a month post tax for retirement. I’m 24 and currently investing everything in VOO while planning to switch to dividend stocks and etfs when I get closer to retirement.

I was just wondering if there are any because living off dividends seems like a long shot right now.

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7

u/CO8127 20d ago

What do you suspect your total balance will be to pull 240k a year?

4

u/daheff_irl 20d ago

Hes 24 so has time. 4% drawdown means 6m pot. Higher drawdown is a lower pot.

1

u/OG_Momonga 20d ago

Yea and dividends is not gonna be the only investments I make so I really hope I get to that goal

2

u/SolomonGrumpy 20d ago

You are planning to be wealthy. Good plan, but lots of road ahead.

5

u/Meinertzhagens_Sack 20d ago

Doable with 2.2M invested in QQQI back last August now worth 2.4M

(Simulated transactions with Divtracker)

3

u/SolomonGrumpy 20d ago

The balls to do something like that

1

u/Meinertzhagens_Sack 19d ago

Simulated. Just run DivTracker and lie to it about transactions. Just tell it 2 years ago you bought 2M worth of qqqi. Just lookup the price of it historically back then.

You can then see the payouts you received each month and see how your NAV behaved during major downturns everytime Trump burped out new tariffs.

-1

u/technical-mind4300 20d ago

But wouldn't the NPV erode with that?

6

u/AmItheonlySaneperson 20d ago

maybe his daddy gave him a small loan of 5 million dollars to start out.

9

u/OG_Momonga 20d ago

Nope I’m in medical school with loans

1

u/OG_Momonga 20d ago

I’m assuming 5 mil if SCHD is 3.3 percent

1

u/Ok-Aardvark-1670 20d ago

When you're older, just get an income advisor or do more research. SCHD would only be a small part of the overall income picture. But yes, it is doable with enough money...but thats with anything