Instead of working yourself into an early grave, consider investing in stocks that pay monthly dividends. Since your bills come monthly, you can structure your investments to pay you monthly. It is possible to get paid while you sleep, while you eat, while you live your life. Honestly, if you can’t figure out a way to make passive income around the clock, you will have to sacrifice your mind, body, and soul until the end of time. Here are steps you can take to make your money immortal:
Step 1: Make as much money as possible at your day job, side hustle, or entrepreneurship without burning out. Consider getting a commission sales job that pays unlimited income if your current job forces you to live pay check to pay check. If you don’t make at least 2 times your monthly expenses, it’s time to leave your job as soon as possible.
Step 2: Open a brokerage account to invest in stocks, etfs, and mutual funds. You could use brokerage apps like Robinhood, Stash, Acorns, but I prefer going through my bank. The benefit to opening a brokerage account at your bank is you will be able to see your checking account and brokerage account at the same time when you login to your bank profile. Plus, transferring money between your checking account and bank brokerage account is faster than using stock apps like Robinhood.
Step 3: Save 6 months of living expenses for a rainy, stormy day. You never know when you are going to get fired or when your car breaks down.
Step 4: After you pay your monthly bills, throw the rest of your money into stocks, etfs, mutual funds that pay monthly dividends. Keep the mindset that cash is trash. Why? Because inflation will destroy the value of your money over time. Money in stagnation will die. When you invest your money, it has a chance of increasing in value, and if you’re smart with how you invest, you could get monthly dividends. It might take years, but when your monthly dividends exceed your monthly expenses, you can safely quit your job. One goal you can set is to keep working your day job until your monthly dividends reach at least $4,000 a month or higher. The goal is to get paid rather you want to work or not.
Step 5: Now it’s time to make your money immortal, meaning, buy the stocks one time (or repeatedly), and get paid monthly dividends for the rest of your life. Eventually you can pass it on to your children. Hence immortal money. Money that does not die. Don’t be afraid to adjust your monthly dividend stock portfolio periodically because all companies evolve for better or worse.
Here are 70 monthly paying dividend stocks we like:
Written By: Damien Demetri Blackwell