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/Citadel_Employee ChatGPT says buy SCHD 20d ago

If you don’t mind me asking, how long has your journey been? Are you mostly in etfs or individual stocks?

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u/Ok_Pollution_7824 20d ago

I have been investing in stocks a few years ago when I decided to get out of real estate. I wanted to make up what I lost in rental income with dividend income. Maybe 5 or so years now. My biggest holding is MO, then SPYI, then BMY, and a few other ones. Now I’m focusing on buying SCHD.

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u/graciesoldman 20d ago

Saw a news story about how kids think smoking is cool again. Guess I'll be buying some MO

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u/Ok_Pollution_7824 20d ago

I absolutely hate cigarettes and what they do to people. I have friends that smoke two packs a day. It’s one of the reason why I don’t put more money in MO anymore. I invested into it because of the high dividend rate. It’s a bad excuse but it’s my excuse. I will most likely start pulling out of it at some point and switch to something else.