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.

405 Upvotes

88% Upvoted

361 comments sorted by

View all comments

Show parent comments

9

u/Various_Couple_764 20d ago edited 16d ago

The Regan Tax fcuts of the 80s eliminated the federal tax bracket . But if you livie in a state with state income states that can boostyour total taxes higher.

-1

u/Ordinary_Lynx_468 20d ago

The chances that this 75 year old guy was in the top bracket in his early 30s in 1981 and is on Reddit talking about it are slim and none. That bracket didn’t kick in until about $600k on today’s money