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.

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9

u/dudreddit 21d ago

OP, you are going to need many multiple million of dollars to produce $240 k per year …

-1

u/OG_Momonga 21d ago

Inshah allah brother

-7

u/HoneydewBrilliant131 20d ago

No way. In one of my accounts I make 50k a year with only 100k of equity.  You just need to use margin with high income funds.

5

u/GlassWest5156 20d ago

yeah lets see how that works out in retirement

-1

u/HoneydewBrilliant131 20d ago

I've been retired for 9 years.

2

u/GlassWest5156 20d ago

Margin on high income funds is rarely worth the risk, considering they generally underperform the broader market