There are many ways to earn income like real estate renting, dividend growth investing (DGI), online gigs, p2p lending, and many more. One is not necessarily better than the other and everyone has their own niche and passion. It still takes a lot of hard work to implement any of these tools to start earning passive income but, once the ball is set rolling, it compounds itself.
I’ve chosen Dividend Growth Investing (DGI) strategy as a starting point to build long-term wealth and later on build on it to add additional passive income tools in the kit for further growth. The goal remains: Earn $3000 Per Month in 3000 Days. Why $3000? Reason is that setting goal of $2000 or even $2500 will not be enough to cover the expenses for me and a goal like $4000 will be too high a barrier to cross, at-least where I’m standing now. Middle of the road: $3000 is a nice goal to shoot for, that should cover basic expenses for most of the folks, if you live frugally 🙂
I started my Freedom journey in May, 2015 and since then, I’m on a tear to scoop up dividend growth businesses to build up my passive dividend income. A total investment of $11,913.80 was made to buy some of the fabulous companies in May: AVA, BP, COP, DLR, GSK, KMI, MO, NOV, O, OHI, OKE, PM, RAI, T, and WPC. As Warren Buffet says we need to think about these beautiful ticker symbols as the real business that you own. I started out by owning a small pie of these whale.
I’ve not yet received any passive dividend income from above investments, expecting to start hitting this month that I’ll be posting. Stay tuned!!! I’m excited to receive my first paycheck arriving in the mail and start hitting the bank.
Full Disclosure: Long on all above mentioned companies.
Thanks for reading.
What do you think about the DGI path that I’m taking? Made right decision.