11-01-2021, 05:53 PM
Hi All,
I'm new to the forum, but I've been investing in dividend stocks for the past 2 years. I admit, my dividend goals are a bit lofty, as I want to have a multi-million dollar portfolio well before retirement. The main issue at the moment is that I need to "add far more fuel to the fire" than I currently am. I am taking a portion of my paycheck every 2 weeks to grow the portfolio (10% of take home pay), I am DRIPping everything I earn in the portfolio, and I am also working on becoming a better short term trader to use those gains to supplement the dividend portfolio. However, becoming a successful trader takes time, and there is no guarantee that I will get to a level where I can provide a lot more investment income. Relying solely on a percentage of my paycheck would take me multiple lifetimes for me to achieve the size portfolio that I want to achieve, so I'm looking to see if there are better methods to supplement the portfolio beyond a percentage of the paycheck. My questions to the forum are the following:
1) What are your go-to methods for supplementing your portfolio?
2) What are the timelines for achieving your portfolio goals?
I'm hoping to make this into a brainstorming session of sorts, so that I can figure out which methods of supplementation would work best for me. Please feel free to share whatever ideas you have used; so long as it's not immoral or illegal. Thanks
I'm new to the forum, but I've been investing in dividend stocks for the past 2 years. I admit, my dividend goals are a bit lofty, as I want to have a multi-million dollar portfolio well before retirement. The main issue at the moment is that I need to "add far more fuel to the fire" than I currently am. I am taking a portion of my paycheck every 2 weeks to grow the portfolio (10% of take home pay), I am DRIPping everything I earn in the portfolio, and I am also working on becoming a better short term trader to use those gains to supplement the dividend portfolio. However, becoming a successful trader takes time, and there is no guarantee that I will get to a level where I can provide a lot more investment income. Relying solely on a percentage of my paycheck would take me multiple lifetimes for me to achieve the size portfolio that I want to achieve, so I'm looking to see if there are better methods to supplement the portfolio beyond a percentage of the paycheck. My questions to the forum are the following:
1) What are your go-to methods for supplementing your portfolio?
2) What are the timelines for achieving your portfolio goals?
I'm hoping to make this into a brainstorming session of sorts, so that I can figure out which methods of supplementation would work best for me. Please feel free to share whatever ideas you have used; so long as it's not immoral or illegal. Thanks