Investor Earning $24,000 a Month in Dividends Shares Top 9 Stocks in Portfolio – ‘Goal Is To Retire By 2027’
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Many Americans are turning to quality dividend stocks to offset volatility and compound their wealth over the long term. Data shows that the total return for the Dividend Aristocrats Index (companies that have increased dividends for 25 consecutive years) came in at about 12.08% from 1990 through 2019, compared to 9.95% for the S&P 500 index.
Last year, someone asked dividend investors on Reddit to share their monthly dividend income goals. The question received about 100 comments, with many interesting income reports.
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An investor said he collected about $24,000 in dividends a month and his goal was to earn $50,000 a month by 2026. He said his job paid “really well,” which allowed him to make regular investments in dividend stocks.
“Goal is to get to $50K/month in Div’s by 2026 and retire by 2027.”
When asked why he didn’t retire immediately, given the high dividend income he was already earning, the investor said his house had yet to be paid off and he had a kid in college.
“I also think returns have been too good to last, so I want to milk this for as long as I can while slowly shifting to a lower-risk div portfolio. Besides, I would like to maintain my current lifestyle when I retire and that needs more than $15K/month after tax. Huge believer in enjoying the journey and not worried about working hard in a job that gets me to the desired goal.”
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Let’s take a look at the key dividend stocks in his portfolio.
Blackstone Secured Lending
Blackstone Secured Lending (NYSE:BXSL) is a business development company mainly investing in private U.S. companies’ first-lien senior secured debt. The company has a dividend yield of about 9.9%.
Oxford Lane Capital
Oxford Lane Capital (NASDAQ:OXLC) is a closed-end fund focusing on fixed-income securities. The fund pays a monthly dividend of about 20%.
Eagle Point Credit Company Inc. Closed-End Fund
With a dividend yield of over 18%, Eagle Point Credit Company (NYSE:ECC) is a closed-end fund that invests in collateralized loan obligations (CLOs) and other credit-focused assets.
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