Wouldn’t it be nice if you had a debit card that magically created money for you? You would wake up to new money in your account, knowing that you could spend it without guilt?
Welcome to the year 2022, and you have this magic card. This card is called the Cash App debit card and interfaces directly to your Cash App brokerage account.
I wrote an article a year ago called “The Bank Account that Pays You,” where I talked about having a brokerage account that pays you dividends. Shortly after that, I started the Cash App daily investing challenge.
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We are in week #68 of the Cash App challenge, and I have roughly $26,800 in my account. More importantly, I received $105 in dividends directly to my Cash App debit card last month.
The Magic. The best part of receiving dividends directly to your debit card is to use them as intended. I have multiple brokerage accounts where I reinvest my dividends. This is the best scenario for the long run.
But, as I wrote in “What Gets Rewarded Gets Repeated,” you should have some fun. Use a portion of your dividends and overall passive income to live a little. The dividend debit card gives you some cash to let your hair down and create new experiences.
Your long-term mental health requires you to give yourself a break from retirement planning. You are already far ahead of the power curve if you are planning ahead. If you don’t know where you fall on the retirement scale, read my Retirement Planning at Any Age series (20s, 30s, 40s, 50s, 60s, 70s).
Guilt-free money. Enjoy your guilt-free dividends. Usually, I don’t even spend my dividends on fun stuff; I just reinvest. However, I was able to take my wife to sushi a few times with my AT&T (T) dividends—that experience was excellent.
Just saying “Bought with Dividends” is such a fantastic feeling. Most people in America have every opportunity to purchase blue-chip stocks and receive dividends. However, most people in America do not take this option seriously.
My 24 Favorite Blue-Chip Stocks
By investing in dividends, you show the world that you are financially educated and motivated to have a successful retirement and cash flow lifestyle. When you combine dividends with other passive income sources like rents, royalties, automated business, and interests, you create an enormous tidal wave of wealth.
Getting started. If the world of dividends is new to you, start with the article “Stock Market Investing 107: Back to Basics.” Inside, I round up my first articles on stock market investing in a nice, short free pdf.
Next, you’ll want to dive in deeper with the Investing for Dividends series and then the How to Start Dividend Investing series.
Finally, you will want to decide what style of dividend investing best suits your first portfolio. Using the Cash app, you will want to use Dividend Growth Investing because it has most of the blue-chip stocks you will seek.
Dividends vs. Royalties II
If you choose Income Investing, you will need a full-service brokerage like Wells Fargo or Charles Schwab. These providers have all types of securities for your investing pleasure. I lay out the pros and cons of each of my five accounts in the article “Pick Your Platform.”
How to use your dividend debit card. I mainly keep my card on me at all times. I don’t really use it for day-to-day payments. However, when my phone alerts me to new dividends, I become curious about spending them.
Since I am in Japan, I get new alerts in the middle of a random time. I am usually at home, where I decide to reinvest back into my portfolio. However, if I were in America, I would be a little more liberal with my spending.
6 Types of Income Streams
There is nothing like having guilt-free money on a nice sunny Florida day. It feels good to get a $35 dividend and be able to treat my wife to a sub sandwich at Jimmy John’s (the Italian is my favorite.)
That is the point of this article, letting you release your inner child. We have grown up so much by focusing on passive income. We work hard at our jobs, come home, read, write, build, and create our income streams. We have earned the ability to spend a few dollars on ourselves and our family.
Back in June 2019, when my wife and I started our journey to financial independence, I never thought it could feel this good. We are now debt-free and have passive income flowing in from all directions.
Conclusion. If we can do it, anyone can. You just have to want it more than everyone else. The dividend debit card is a way to show off to yourself. Every time you get a dividend into your account, you feel one step closer to total freedom.
Can you imagine a time when you receive $1,000/month for your debit card? How about $3,000? Life is genuinely that good if you take the time to understand how to create money.
With that, I am off. Please, look into the Cash App debit card. I don’t have an affiliate link, but you can find the app on your cell phone app store. I hope this article excites you to the possibilities. Enjoy!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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