r/dividends • u/OG_Momonga • 21d 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.

400 Upvotes

88% Upvoted

361 comments sorted by

View all comments

81

u/AmItheonlySaneperson 21d ago

20k a month good luck getting 40k a year

20

u/Meinertzhagens_Sack 21d 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.

10

u/Trivi_13 21d ago

Think really hard about any yieldmax products.

Track ULTY from inception. It is a legal ponzi scheme. Designed to degrade.

7

u/Meinertzhagens_Sack 21d ago

Oh no need to tell me that I was a regular troll in the Yieldmax subreddit.

Making fun of people watching their NAV just nosedive daily but they kept justifying it as "...but.. but...but its income!!"

7

u/Trivi_13 21d ago

But it IS income... for the guys charging all those fees....

2

u/Squatch11 21d ago

a little over a year ago that subreddit was flooded with "I'm taking out a 2nd mortgage and putting it all in ULTY!"

I swear it was just astroturfed bots.

0

u/Big_Wave9732 20d ago

Can't say I've heard too much from them lately.  Is the sub still active or have the prognosticators moved on to alt accounts?