I just got word earlier this week that one of the companies that I own announced a dividend increase. AT & T continued its recent pattern of increasing its dividend payout by a penny a quarter. While this might night sound like much, it will add to my stash over time.
I currently own 75 shares of the telecom giant, so this increase in my dividend increase will be a whopping $3 annually. This is not much. I might be able to buy a coffee at Starbucks if I actually drank the stuff. It won’t buy me vanilla bean frap, but what it will do is add to my stash.
That $3 will either go to more shares of AT & T if they become cheaper again, it it will go to another company. The companies or funds that I own all pay out dividends. The money that they give me at this point all gets rolled into more shares that pay more dividends. It truly is a virtuous cycle that I hope will add to my retirement income. It may even help me retire a bit earlier than most folks.
My Dividend Increase Brings Up Passive Income
This dividend increase brings my estimated annual dividend increase within about $3 of passing the $600 mark. I’m now really, really close to having an average of $50 come in each and every month for doing pretty much nothing.
The $50 will not come in like clockwork, as some months I’ll get much less than $50. In others, I’ll get more. The average is $50, though. My hope is that within a couple of years, I’ll pass into the three-figure average per month. I’m still waiting on getting $100 in a single month, but that should roll around pretty soon.
The snowball is starting to roll, and I like it.
I’m nowhere near currently funding my lifestyle with passive income, but it’s a start. Passive income really is the best form of income that there is. Every dollar that I can get passively is a dollar that I do not have to actually go out and earn from work. The more I get, the less reliant on hard work I am. If I continue to work, I’ll just have that much more to save and build up my passive income. Like I said above, it’s a virtuous cycle.
Just a little more than two years ago, my estimated dividend income was basically $0. I rolled over a 403b account into an IRA that I control and added more capital over time. So, it’s basically $0 to $50 in 2.5 years. The acceleration is a little slower than a sports car, but unlike a sports car, this actually brings money to me. Buying a sports car takes lots of money. There’s no question of which concept is better.
How is your passive income going? Let me know in the comments.
Reviews Of Money-Making Sites
If your budget is tight, you might wonder how you can get money to save. There are options. Here are a couple of reviews that might help you decide which sites might work for you:
My Ibotta App Review
I use this when I go shopping. You can earn $10 for signing up with my link and getting your first rebate within a week. With cashouts starting at $20, you’d be more than halfway to redeeming for some PayPal cash!
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