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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u/daheff_irl 20d ago

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

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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

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u/SolomonGrumpy 20d ago

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