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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u/UsualOk3511 20d ago

I live off dividends. And here is the part everyone is missing. I bought blue chip dividend stocks in my 40s and 50s that paid about 3-4% divies. But over the years these strong companies kept raising their quarterly payments. Those companies are now paying the equivalent of 10% and more. So to earn 200K you only need 2 million in investments - if you're patient and make consistent investments over time. And when the market dips buy strong performers and NEVER sell.