Every day with dividends is a gift, and it’s even better when they arrive directly in your checking account. I have been dividend investing for over four years; it becomes more interesting and fun each year.
The key to successful dividend investing is enjoying the fruits of your labor. Dividends are best when you can spend a portion of them on things you love.
My favorite way to spend dividends is on my Dividend Debit Card (Part #1, Part #2). I have been touting the horn of my Dividend Debit Card (DDC) since Christmas 2021.
I’m Obsessed with Mone, and You Should Be Too
Reaching new heights. Last month (August 2023), I reached over $300 on my DDC. This is a fantastic achievement, and I am pretty proud of it.
But how did I get here, and what stocks paid me last month? Let’s dive deep into what occurred last month in my Cash App account and predict what the future holds.
For context, my DDC is a cash card I received from Cash App. Cash App lets you invest in stocks; the dividends travel directly to your cash balance.
Usually, your brokerage account has a cash balance as well. However, that cash balance is not a checking account. You’ll need to transfer money out of your brokerage account, which takes about two days to use this money.
Welcome to Writing: Start Your Grind
Transferring from a brokerage account takes so long because the money needs a two-day clearing (settling) period.
Cash App also takes a couple of days to clear your dividends, but the money then goes straight to your cash balance.
It’s great to wake up with a bigger balance than when you went to bed. It’s actually quite addicting to see new dividends in your account.
Life as an income investor. Dividends make the world go round, so it’s time for you to jump into the game. However, it takes a lot of money to get a lot of dividends.
I had $51,000 invested in my Cash App last month, with a current balance of $47,137. I started investing in my Cash App in July 2020.
One of the disadvantages of Cash App is that they don’t offer my favorite income-investing securities, such as closed-end funds and preferred shares.
However, this forces me to use other high-income products like real estate investment trusts and business development companies.
Five Takeaways from “His Need, Her Needs”
Over the years, I have watched my positions slowly grow; my dividends have also become massive.
I remember getting $5 dividends and thinking how amazing it was to receive that kind of money for free.
As you can see from last month, I received seven dividends of over $20. Now, that is progress. Few things feel better than getting fresh money on your doorstep.
In the old days, they used to call dividends mailbox money. I like to call them email money now because you’ll get a phone notification and email when you get money on your Cash App.
Losing Friends? You’re Doing Something Right 2
Getting started with your Dividend Debit Card. Do you love making more money? Would you love for dividends to pay for your monthly visit to an Italian restaurant?
It’s time to get started with your own Dividend Debit Card. Creating a Cash App account is simple because one button press begins your investing journey.
After you answer a few questions, you’ll be on your way to investing. I have an article to guide you on your first five dividend stocks.
The most challenging part of dividend investing is grinding through the first year or so. In November 2020, I made $4.29 in dividends.
Earning $1,100 in Dividends Per Month
However, I was so proud during that month. Most people will never understand the feeling of receiving passive income—not even $4.
Grace and Passive Income. Dividends should make you more humble and thankful. It takes grace to build a massive stream of passive income.
My wife and I are grateful whenever we receive a dividend on our Cash App cards. Although we invested the money, it’s still a miracle each time you receive a dividend.
How will you send your dividends? We love to create new experiences with our kids. Last month, we went to The Olive Garden on dividends.
Bond Investing in Your 40s
Your world will change once you see it through the lens of passive income and dividends. I never would have thought I could receive $300 without working.
A new life of passive income. Your Dividend Debit Card may be your first foray into the world of passive income—enjoy it.
Passive income is about collecting assets that pay you money and avoiding liabilities that subtract money from your cash flow.
The more assets (dividend stocks) you collect, the more cash flow you generate. The more revenue you build, the more you can reinvest.
Saving & Investing with $400/Month Available
The more you reinvest, the more cash flow you bring in—a glorious cycle indeed. So, it’s time to get started.
Don’t sit on the sidelines any longer. I didn’t start dividend investing until I was 38 years old. I can’t imagine if I had started in my 20s.
Now, I am 42 and retired. Outside of my family, dividends give me the greatest enjoyment in life. It’s simply amazing to receive money while doing something else.
Going against the grain. To become a dividend investor, you must think differently. Collecting assets must become your number one priority.
Should You Get an Adjustable Rate Mortgage?
Society wants you to buy expensive houses and cars, but you must create cash flow at all costs.
Eventually, you’ll have enough passive income to live entirely without working—we call this financial independence.
It starts with your $100 investment on your Dividend Debit Card. The power of compounding will do all the work as long as you keep feeding income into your account.
Conclusion. How do you want to live your life, in credit card debt or “cash flow” rich? Do you want $50,000 in credit cards or $50,000 on your Dividend Debit Card?
Are You a Spender or a Saver?
These are tough questions. The world doesn’t believe in delayed gratification any longer. But you can build a fantastic income stream that pays you while you sleep.
I am very proud of my Dividend Debit Card and look forward to reaching $400 monthly. I will write an article every time my monthly dividend payments reach an additional $100.
I love going to McDonald’s without having to use my personal allowance. I can spend frivolously with my dividends because they are guilt-free income.
I live an extraordinary life because of my family and dividends. It took a few years to arrive at this point, but it was worth the wait. I look forward to reaching $1,000 per month on my Dividend Debit Card. Good Luck!
- PDF of the Month: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
- Free PDF Downloads: Download FREE PDF LIST here
- Financial Mindset: Become CEO of Yourself 2 (Free 196-Page PDF)
- Retirement Planning: Your Retirement Planning Guide 2 (Free 255-Page PDF)
- Investing: How We Plan to Retire on Dividends 4 (Free 139-Page PDF)
- Cryptocurrencies: Counting on Crypto 2 (Free 159-Page PDF)
- Real Estate: Financial Independence through Real Estate 4 (Free 112-Page PDF)
- Business: Retire Rich, Retire Comfortable with a Business 4 (Free 149-Page PDF)
- Latest DGWR: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
- Everything!: The Biggest Book on Passive Income Ever 3! (book)(Web Edition)(Art Edition)
- Writer’s Comparison: M1 Macbook Air vs. GalaxyBook3 Pro 360
- Read My Books for Free: Free Kindle Books Schedule
- Book Design: Design Tips on YouTube
- Kindle Unlimited: Why I Finally Subscribed Kindle Unlimited (learn more)
- Book Reviews: 505 Takeaways from 101 Books (pdf)
- Writing: The Publishing Chronicles (Part 1, Part 2, Part 3, Part 4, Part 5)
- Best REIT- Fundrise: Fundrise vs. US Treasuries (Join Fundrise)
- Follow us: On our Facebook Page and Join our Facebook Group
- Support the Channel on Cash App: $Kingmarine1981
- For more detailed analysis, join my Youtube: MFI YouTube Channel
PDF of the Month: Don’t Gamble with Retirement 11 (Free 410-Page PDF)
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
Leave a Reply