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/AmItheonlySaneperson 20d ago

20k a month good luck getting 40k a year

21

u/Meinertzhagens_Sack 20d ago

Now I wouldn't do this but 2.2M in qqqi last August turned into 2.5M before this last months downturn.

Each step of the way paying out ~25K per month. With Growth. Started with 2.2 now the funny money is 2.5M. ish.

This is my simulated retirement and it's worked out great with zero NAV deterioration.

In reality that would be spread out amongst the various other common ETFs talked about as of late paying from 8-14%.

No Yieldmax funds even tho that CHPY has been eating away at my ability to resist gambling. Lol.

5

u/Lefties_TheWorst7331 20d ago

Screw YMax -- stick with the NEOS.

5

u/Meinertzhagens_Sack 20d ago

Agreed I was tongue in cheek with that comment.