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:
AGNC INVESTMENT CORP
ALARIS ROYALTY CORP
ARMOUR RESIDENTIAL REIT
CROSS TIMBERS ROYALTY TR
DREAM INDL REAL ESTATE
DYNEX CAP INC
EXCHANGE INCOME CORP
ENERPLUS CORP
GLADSTONE INVESTMENT
GLADSTONE CAPITAL CORP
GLADSTONE COMMERCIAL
GLOBAL WATER RESOURCES
HORIZON TECHNOLOGY
INTER PIPELINE LTD
GLADSTONE LAND CORP
LTC PROPERTIES INC
MAIN STREET CAPITAL CORP
REALTY INCOME CORP
ORCHID ISLAND CAPITAL
OXFORD SQUARE CAP CORP
PEMBINA PIPELINE CORP
PENNANTPARK FLOATING
CHOICE PROPERTIES REIT
PERMROCK ROYALTY TR
PROSPECT CAPITAL CORP
PERMIANVILLE RTY TR
SABINE ROYALTY TRUST
SHAW COMMUNICATIONS
SAN JUAN BASIN RTY TR
STAG INDUSTRIAL INC
SOLAR SENIOR CAPITAL LTD
SUPERIOR PLUS CORP
TRANSALTA RENEWABLES INC
WHITESTONE REIT
GLOBAL SUPERDIVIDEND ETF
VANECK VECTORS TR ETF
VANGUARD TOTAL BOND ETF
WISDOMTREE HIGH DIV ETF
GLOBAL SUPERDIVIDEND ETF
GLOBAL X MSCI ETF
VANECK JPM EMRG MKTS ETF
VANECK VECTORS TR ETF
INVESCO TR II KBW ETF
FT VI MULTI ASSET ETF
OSHARES US QUALITY ETF
INVESCO TR II ETF
ISHS PFD & INCM SECS ETF
GLOBAL X FDS ETF
INVESCO TR II PFD ETF
GLOBAL X S&P 500 ETF
GLBL X MSCI SUPERDIV ETF
GLOBAL X SUPERDIVID ETF
SHARES 0-5 YR HIGH ETF
GLOBAL X SUPERINCOME ETF
INVESCO S&P 500 HIGH ETF
SPDR PORTFOLIO ETF
INVESCO S&P 500 LOW ETF
GLOBAL X ETF
GLOBAL X FDS ETF
BLACKROCK LIMITED
CORNERSTONE STRATEGIC
EAGLE POINT CREDIT CO
STONE HARBOR EMERG MKTS
STONE HARBOR EMRGNG MKTS
WELLS FARGO MULTI-SECTOR
ABERDEEN ASIA PAC INCOME
FIRST TRUST NEW OPPTYS
COHEN& STEERS MLP INCOME
OXFORD LANE CAPITAL CORP
REAVES UTILITY INCOME FD
Written By: Damien Demetri Blackwell