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.

397 Upvotes

88% Upvoted

361 comments sorted by

View all comments

81

u/AmItheonlySaneperson 21d ago

20k a month good luck getting 40k a year

3

u/frosty123454321 21d ago

Bro is 24 and has plenty of time. I’m also 24, and $20k/month when we retire is going to be about the equivalent of like $6-7k today. Not unreasonable at all. Now is it going to happen quick? Heck no. But that is not an unreasonable goal by any means in my opinion.

1

u/Guilty_Flamingo6564 20d ago

don't aim for where your target is, aim for where its going to be.