07-26-2015, 07:08 AM
Ok so I thought that due to my own plans still being a bit uncertain, I would love to hear your general plan when it comes to DGI investing and personal finance. Obviously we all started this to get growing dividend income but what is your personal goal and why? Some of you have elaborated quite a bit about your plans in other threads but I think it would be good to collect our thoughts about the future into a single tread.
Is this something to give you supplemental retirement income? Maybe you are planning to retire early? Are you guys planning on liquidating parts of your investment at some point? Any certain amount of portfolio networth or dividend income you are aiming for? Overall I'm eager to know what motivates you to save X amount each month and use it for DGI. And when do you say "ok I have saved enough, time to focus on spending." ?
We spend a lot of time talking about the journey but what is the destination?
A little about me: (feel free to skip until the very end for a 1 sentence summmary)
As I said earlier my own long term plans are a uncertain. I'm young (26 to be more precise), don't own an apartment/house yet, very unstable job and recently dipped my toes into the whole long term relationship business. So my future is wide open and for the moment my main reason for investing is to build passive income to have some financial security despite my unstable job.
In the long run I am aiming for dividend income equal to my living expenses but I do realise that this is probably not going to happen, at least not anytime soon. I have no exact figures that I'm aiming for. But every little income stream helps and I'm confident that my investment portfolio will help me out immensely by the time mortgages, unemployment and kids come into the picture. Okay hopefully not all three at the same time! I am most definitely not planning on selling my holdings but I realise that there are times when I might have to use the incoming dividends for everyday expenses instead of reinvesting them.
Long story short: for the moment my goal is simply to create a as-large-as-possible passive income to help me cope financially with what ever life throws my way.
Looking forward to hearing your thoughts and plans.
Is this something to give you supplemental retirement income? Maybe you are planning to retire early? Are you guys planning on liquidating parts of your investment at some point? Any certain amount of portfolio networth or dividend income you are aiming for? Overall I'm eager to know what motivates you to save X amount each month and use it for DGI. And when do you say "ok I have saved enough, time to focus on spending." ?
We spend a lot of time talking about the journey but what is the destination?
A little about me: (feel free to skip until the very end for a 1 sentence summmary)
As I said earlier my own long term plans are a uncertain. I'm young (26 to be more precise), don't own an apartment/house yet, very unstable job and recently dipped my toes into the whole long term relationship business. So my future is wide open and for the moment my main reason for investing is to build passive income to have some financial security despite my unstable job.
In the long run I am aiming for dividend income equal to my living expenses but I do realise that this is probably not going to happen, at least not anytime soon. I have no exact figures that I'm aiming for. But every little income stream helps and I'm confident that my investment portfolio will help me out immensely by the time mortgages, unemployment and kids come into the picture. Okay hopefully not all three at the same time! I am most definitely not planning on selling my holdings but I realise that there are times when I might have to use the incoming dividends for everyday expenses instead of reinvesting them.
Long story short: for the moment my goal is simply to create a as-large-as-possible passive income to help me cope financially with what ever life throws my way.
Looking forward to hearing your thoughts and plans.