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How can you measure success without a plan? Today I go over my dividend investing plan for the year 2024.
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As we enter into the new year, it’s important to have a clear plan for your dividend investing strategy. Dividend investing is a great way to generate passive income and build wealth over time. In 2024, I have laid out a dividend investing plan that I believe will help me achieve my financial goals and create a reliable stream of income for the future.
First and foremost, I will continue to focus on investing in high-quality dividend-paying stocks. These are companies with a strong track record of paying and increasing their dividends over time. I will look for companies that have a history of steady earnings and cash flow, as well as a sustainable dividend payout ratio. These are the types of companies that I believe will continue to pay and grow their dividends in the years to come.
I also plan to diversify my dividend portfolio across different sectors and industries. This will help me spread out my risk and ensure that I am not overly exposed to any one sector. I will look for opportunities in industries such as technology, healthcare, consumer goods, and utilities, among others. By diversifying my portfolio, I can capture dividend income from a variety of sources and potentially reduce the impact of any underperforming sectors.
In addition to individual stocks, I will also consider investing in dividend-focused exchange-traded funds (ETFs). These funds provide exposure to a basket of dividend-paying stocks, which can help me achieve broader diversification and potentially reduce stock-specific risk. I will look for ETFs that have a track record of paying consistent dividends and have a low expense ratio.
Furthermore, I plan to reinvest my dividends to take advantage of the power of compounding. By reinvesting my dividends, I can buy additional shares of stock, which in turn will generate more dividends. Over time, this can significantly increase the size of my investment portfolio and the amount of income it generates. Reinvesting dividends is a key strategy for long-term wealth accumulation.
Lastly, I will regularly review and reassess my dividend investing plan throughout the year. This will involve monitoring my portfolio performance, staying informed about the companies I invest in, and adjusting my strategy as necessary. I will also take into account any changes in the market environment, economic conditions, and my own financial situation.
In conclusion, my dividend investing plan for 2024 is centered around investing in high-quality dividend-paying stocks, diversifying across different sectors, considering dividend-focused ETFs, reinvesting dividends, and regularly reviewing and reassessing my strategy. By following this plan, I aim to build a reliable stream of passive income and achieve long-term financial success.
1:45 5000/12=416,67
600 a month = 7200
I’m 27 years old I invested about 2.5k per month, rn I have about 60k in cash and have very high income. I’m kicking it up to 3.5k per month dollar cost averaging and making intention buys throughout with good opportunities. Overall I have about 135k to my name.
I’m a dividend investor, My wife and I have invested in the S&P500, both through my TSP with the government, and through fidelity in her 401-k. Cashed out 270k from the S&P and invested with a Financial adviser, Monica Mary Strigle and we also bought Solana at the right time. Until around 3 years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of this month at 52, while my wife will retire next year at 50. We currently have 3.7 million in our tax deferred savings. I am putting this out there for anyone looking for how to help themselves in this time of crisis.
Highest dividend 31.13%
https://youtu.be/XKuY0QBr0YY?si=KDwNdvTTEWxkkG3K
Love the video!! I would love to have the spread sheet to use.
hello, is it possible to get the spreadsheet for your "normal" youtube-portfolio? The one showed at min 9:38. Love your videos, keep it up! 😀
As always a great video Nick! Like the spreadsheet and hope you share it or do a video on it.
You have way too many stocks for the amount of money you have infested.
I’ll continue the $50/month into dividend stocks I started in September this year and see how it goes for 2024. When my income improves, I’ll double the investment else I’ll keep it same.
Thank you! Merry Christmas and Happy New Year!
I think I asked but not to sure but do you have a spreadsheet tracker that people can download
It's refreshing to see a well-thought-out approach to dividend stocks, especially considering the changing market conditions. Your selection criteria for dividend stocks remind me of some key principles from 'The Intelligent Investor' about seeking value and long-term stability. It would be interesting to hear your thoughts on how you balance yield with growth potential in your portfolio.
Awesome video!
My two goals for my Roth are to buy more O and SCHD while the price is below 65 and 80. The second goal is to increase my smaller positions with higher yields to average $100 per month in dividends. Those smaller positions are BDCs and income ETFs (equity and bond). I'm currently at about $80/month dividends from quarterly and monthly dividends. With the DRIP turned off I'll allocate most of the amount towards my core growth funds and a very small percentage to the BDCs REITs and income ETFs since they have slower growth. I'll keep the DRIP turned on my core funds. The core funds have quarterly and lower yields, but good growth overall.
This would help supplement my Roth contributions so I'd go from $8,000 to $9,200 when you include the dividends. So a lump sum contribution at the beginning of the year and then DCA $960-$1,200 monthly. The small positions are between 0.2% to 3.3% of the total. I'll see where we're at in Dec.
For 24’ I’m doing 125 every Friday in my Roth IRA. Currently 33 years old.
Also 10% into my TSP.
40% SCHD
40% QQQM
20% VOO
Open for suggestions.
Great plan my friend! I appreciate the transparency from every single video that you put out. It inspires and motivates myself to continue on this journey. I also like the Investing Challenge spreadsheet for 2024 and I wouldn't mind having a copy… Thanks again and good luck on your continuance through 2024.
The spreadsheet looks awesome and would be appreciated! great work!
You've made my day with this content.
Love it! Where can I get that spreadsheet used, to build my own?
Great videos,, please Share with me the spreadsheet.
Fun Plan! Thanks for sharing!
Go Bears!
No Bulls!!
No I mean Chicago Bears!!!
LOL.
2024 our goals is to buy a lot more of arbor realty and area capital
I would like to get the spread sheet
why you dont just buy these etfs and switch to income stocks, when you need the income?
My account has 25k in it, which started less than a year ago. Currently, I'm overseas and in an active combat zone for the US Army, I've made some risky dividend investments, and currently, I've made good profit off them, right now I make 950~ a month off them, I'm hoping to get 1k a month off them, then slowly add more safe stocks like O and MO, going to keep the risky ones and use the dividends to slowly add O and MO, going to also sell off the more risky ones but keep the 1k a month in dividends, I'll see what capital I can add once I'm back in the states
Great plan. I think I will be doing the SCHD 52 challenge as well. Would love to use your spreadsheet if you share.
Definitely interested in the spreadsheet video
I like the SCHD Challenge!