a year ago i said this: so my goal is to hit $25.000 and get monthly dividend payments of $50
a month. So in order to do that obviously i got some work to do i'm excited to say that i not
only met that goal but i've actually exceeded it by quite an amount and i'm going to share it with
you in today's video now a lot of my subscribers my awesome subscribers i can't believe by the way
that we're almost at 50 000 subscribers here on the channel you guys have been asking me
hey what's my dividend update and what's really cool about this is that video that i shared with
you on the day that i'm recording this video right here exactly one year ago to the day is when i set
that goal i want a 25 000 portfolio i want 50 a month in dividends i beat that goal and i'm gonna
share with you exactly how i did it now there is a free website you can use to track your dividends
and that's literally what it's called track your dividends.com so hop over to that sign up for that
and let me share with you what my portfolio looks like right now today here you go 56
411 that's what i got going on here in my taxable brokerage account and what i really am excited
about before we get to the dividends is this right little this little tiny number right here
that indicates growth four thousand and seventy eight dollars of growth in the last year-ish or
whatever you know um i you know obviously every month counts every day counts in the stock market
but and really guys there's no secret to this i'm not ultra rich or anything like that this is just
cutting down my expenses living extremely frugally trying to basically profit as much as i can
which means my income that i bring in for my side hustles as well as from my job income i try to not
let a lot of that money go out to stupid things i try to cut down my bills as much as possible that
way i can take this money and apply it into the stock market and make more money with my money
so that's what the suite life is all about so let's look at the dividend though
so right now on my entire portfolio the dividend yield is 4.47 not too bad considering i have a
lot of growth potential in this which basically means i have a lot of etfs i have a lot of stocks
that are primarily focused more on growth than they are on dividend payouts so no you're not
going to see a 12 dividend yield and in fact i would say that's a little bit too high based on
an entire portfolio of what i'm growing on but that's what i got going on now and then look at
my annual income based on that percentage based on my total portfolio at 2521 what's that roughly
about 200 a month which means i also beat that 50 per month goal that i set for myself a year ago
so i thought in this video it'd be kind of cool because it's been a while since i just kind of
talked off script and just kind of let you guys know how to do something like this if you want
to be like how do i get to that point i want to continue to grow my dividend portfolio i still
want to continue to grow that awesome growth of 4 000 or more what do i do what's my first step it's
actually a three-part step that i would recommend the very first thing before you do anything here
because what you're looking at is a bunch of taxable brokerage accounts now you guys know
that i have a lot of different accounts if you're a regular viewer of this channel i got robinhood
i got weeble i got public i got schwab i got all these different brokerage accounts because i like
to review them i don't just review things i don't use so i'm using all these things at the same time
so what you're looking at here is a summary 56 000 is split between all these different brokerages
that i use but before you start dabbling in that stuff the very first thing you want to do
is make sure you're taking advantage of your job what does that mean well that means get your 401k
or 403b or whatever your company offers as a match so if you're sitting here right now and you're not
investing in a 401k and your company offers that with a match what's happening is this your company
is saying we'd like to give you one to five percent extra money if you invest into a 401k
and what you're doing is you're saying no i don't need the money i don't need that money go
ahead now no i'm not going to invest in it it's like they're trying to give you a raise they're
trying to give you money and you're saying no so first thing you need to do right now is hop over
to your 401k get with your job figure out what your match is hopefully you have an awesome match
one three five if it's more than five even better percentage which means dollar for dollar they'll
match your money based on a certain percentage and then move on to what we love as the roth ira now
you can get this in any type of an account you can get it in weeble you can get it in schwab you can
get infidelity doesn't matter where you go but look for roth ira and then what you want to do
is max that out right now in 2021 you can put up to six thousand dollars depending on your income
into a roth ira now what's beautiful about that is let's say your paycheck gives you some money which
hopefully your paycheck is giving you some money every single week or bi-weekly whatever you get
paid well that money is after tax you've already paid taxes out of the paycheck and there you go
you get your money well you can then invest that money into a roth ira and because you're doing
that after tax from the rest of forever until you get to the point where you need that money
it grows tax free which means once you're old and living your life and living your suite
life maybe taking some cruises living out on a beach drinking some beer whatever you're doing
you can then withdraw all that money out of the roth ira without paying taxes in the future
that's what's so awesome about the roth ira so make sure you're doing that take advantage of that
six thousand dollars a year that should be like boom so 401k first get the match get your job
raised two get that roth ira and then three start going crazy on your taxable brokerage accounts now
a lot of people say well why don't i also max out my 401k at that point if i get some extra
money and that's perfectly fine what that would look like is this of course you do your 401k
then you do the 6 000 per year in roth and then you max out your 401k which means you can put
up to 19 500 per year into your 401k and that's perfectly fine that means you're stashing away
a ton of money in retirement and there's never anything wrong with that that's a very smart idea
then after that you can then jump into this taxable brokerage account and what's nice about
this is let's say you're only 18 years old or 20 years old hey even if you're 30 40 years old you
start going crazy on max not your retirement but then also going on to this and investing all of
your money into your taxable brokerage accounts you could then build up a certain amount of money
to where you could actually retire early and there's actually a phrase for it it's called
financial independence retire early which means you have a certain amount of money that you
could eventually drift on your money and only live off of your investments how cool is that
so what you would do is you live off of your taxable brokerage accounts until you reach the age
that you're allowed to tap into your retirement funds which is typically 59 and a half so let's
say you could retire at the age of 35 coast coast coast coast coast oh here comes 59 and a half now
i have this other bucket of money that i've been saving up you're living the life so that's kind of
the goal of the fire community but that's what i would recommend before you start div dipping
into this dividend portfolio and this brokerage account make sure you're taking advantage of your
retirement accounts what i have here specifically in the uh brokerage account by the way if you
want to see my retirement stuff tap the like and leave me a comment that says i don't know
retirement that's pretty easy right just drop a line and i'll maybe share that with you guys
as well but only talking about taxable brokerage accounts right now so what really helped i think
with this four thousand dollar increase comes from my schwab account so in my schwab account
i own some positions of cruise lines now that is unfortunately all based on timing timing's a very
dangerous game but i'll tell you what happened during the pandemic march 2020 comes along
everything shuts down and you know me if you know me i love taking cruises and i was dying because
i'm like oh my gosh they're shutting down cruises everything's going to hell and not only that that
stock went down significantly i mean we're talking the big boys like royal caribbean and things like
that they started dropping significantly so i started buying shares and then the stock dropped
even more so i'm like oh my gosh i've lost money so i'm going to buy even more you know
you buy on the dip you always buy on the dip if you trust and believe in the company which i did
i'm like i need to go in they're going to bounce back eventually this pandemic will end
i'm still sitting here waiting for it to end but regardless of that you know i'm going all in on
this and that as of today has grown significantly look at the percentages here guys this is based
on the carnival and royal caribbean growth and it's not a whole lot invested but uh look at
that you know you invest a little bit and it grows to that amount that's just really taking
advantage of the time be greedy when people are fearful warren buffett says it it's so freaking
true that's what helped with a lot of this growth now a lot of my dividends come from your dividend
paying stocks let's talk about them i have of course apple and things like that whatever apple
pays a little bit small you know apple those type of growth companies aren't going to pay
a lot because they need to reinvest their money their profit into building more exciting products
but let's talk about some good ones i have some new c i've talked about nussel on the channel
look at that i have 334 shares of new sea that thing's piling in at a 7.82 percent dividend yield
giving me 748 dollars a year and then you got qyld going crazy on them at 450 shares
that's what's bringing in that so i got a thousand dollars coming in there with such a high
dividend yield there's my royal caribbean fine i got some roi ld which is basically
like qyld only at invest and focuses on the russell 2000 index instead of the nasdaq 100
look at that we got an 11.94 dividend yield schd that's your trusty etf the dividend etf by schwab
that's at a 2.78 not as exciting as the other ones but again we're talking a whole different scheme
when it comes down to qyld and the covered call group versus this is an actual dividend equity etf
um let's see i got some you know some large cap etfs got t you guys are still busting on me for
att but i want to keep it just because you know i just want to see what happens uh if you're not
aware they they got rid of the hbo and warner media group but um they also cut their dividend
so it's really a bad time for at t but right now it's still sitting at a 7.6 dividend yield i'm
gonna hang on to them and see what happens i only got 14 shares nothing to get excited about there
and then i got my vti now this is in my taxable account i have a lot of vti a lot of vta sax in my
retirement accounts but got 65 shares sitting here so i can retire early got a long way to go but
that also pays me a slight little 1.16 uh dividend yield so that's kind of what i got going on guys
remember i'm just some dude on youtube that sometimes looks like woody from toy story never
take this as personal finance advice i do not know your personal finance situation so i cannot give
financial advice don't just copy my picks that is something that rookies do you don't want to
do that because a lot of times i move very quickly and i'm doing different things and you don't want
to follow me and and miss the boat so don't don't do stuff like that what i'd like you to do is if
any of these inspire you to say hey that sounds like a cool idea do you earn research i have
10 steps to analyze a stock as well as smart steps to analyze an etf check out those videos after
we're done with this one and then you can learn how to do it on your own i want to give you the
tools to do your own research so you can be the superstar and be your own financial advisor so
what's my goal well my goal is i want to continue to really grow my growth portfolio so i am going
to still keep going very bullish on the vtis the vug the vo those type of things because i want to
really focus on that overall growth because you know typically i don't need to rely so much on
dividend income now i still want dividends because i love the dividend reinvestments
those are super cool and super important so i will still do that but in the in the meantime i
still want to also focus a lot on the vti there's something else i didn't share with you guys today
and that is what's going on with the mortgage payoff we are going crazy on mortgage payoff
and and honestly it's a blessing guys i mean youtube is treating us well uh my business is
treating us well as well as my full-time job i got like 15 full-time jobs it's killing me right now
i'm dying i'm going absolutely insane but outside of that i gotta say that because of this blessing
we've been able to really slam our mortgage down we are hoping to pay off the mortgage
at the worst december of next year so december 2022 mortgage will be paid off and a lot of people
don't like that idea they say hey it's smarter to invest in the stock market and i do agree because
i have a very low interest rate on my mortgage but what i don't like is i don't like risk
i don't like that let's say all of this goes away all of a sudden youtube shuts down my job leaves
me off and all hell breaks loose all at the same time i don't want to have a sixteen hundred dollar
mortgage payment or even if it's more than that if you guys have a higher mortgage payment you
don't want that kind of clouding over your life and risking foreclosure that's what i don't like
i am really i'm not a big fan of risk so call me that guy i don't like risk and what what i'd love
to do is be able to completely eliminate the mortgage which allows me to then be more risky
with my investments and then be more risky with my job ideas and be more risky with business ventures
because i don't have a personal matter weighing me down which means that if something does hit
the fan youtube shuts down something happens and i have a sudden dramatic loss of income we're still
chilling i could go get like a job at starbucks being a barista who knows how much they make but
it's probably not as much as i'm making here so but i could do that and still float on and still
live well without having to tap into my already built up investments you get what i'm saying
so beyond just type in retirement what i'd like to know is we're about to hit 50 000 subscribers what
do you want to see next for this next chapter of the youtube channel i want to build up to
100 000 subscribers that's the goal uh what do you guys want to see next comment down below
whatever it is i want to hear about it obviously personal finance related that's what this channel
is about what do you want me to focus on what do you want me to help you with what's going on do
you want career advice what is it comment down below and i want to thank you again
for watching these videos here's another video that might be helpful and here's a
video youtube thinks you're going to like we'll see you on the next video thanks for watching