30 Monthly-Paying Stocks, One Account: Can I Get Paid Every Day?

I created a Frankenstein brokerage account because nothing is more exciting than receiving dividends. I loved getting my dividends so much that I wanted to feel that love every day.

So, I opened a brand new brokerage account under the SoFi (SOFI) platform in June 2023. SoFi stands for Social Finance Technologies. This account is brokerage number six; here is how it compares to my other accounts.

As you can see, my SoFi account is very small compared to my other accounts. However, it will grow much larger over time.

My Four Favorite Index Funds

Methodology. But enough of my rambling, let’s get to the good stuff—the monthly-paying stocks. How did I pick these particular stocks? I own all of these stocks in my other portfolios. They are “tried and true” stocks, ETFs, and closed-end funds.

First, I want to lay out the types of stocks I bought. That way, when I list the stocks, I can add this label to them so you can see their category.

1. Closed-End Fund- CEF– an ETF with a limited amount of shares.
2. Dividend ETF- DETF– a fund that focuses on dividend income.
3. Bond Fund- BF– a fund that holds various types of bonds.
4. Mortgage REIT- mREIT– a high-yield REIT that focuses on mortgage loans.
5. Index Fund- Index– a fund that tracks an index.
6. ETF- ETF– a traded fund that gathers an assortment of similar stocks.
7. Covered Call- CC– a fund that sells covered calls to increase yield.
8. BDC- BDC– a business development company that holds loans.
9. REIT- REIT– a real estate investment trust
10. Preferred- PF– an ETF holding preferred shares

You can read more about these types of stocks and funds in “The Six Types of Income Investing Products.” The more you know about the types, the better you can pick the products.

My long-term vision. What is my long-term vision for this account? I would love to get this account to $100,000 and produce over $1,000 per month in income.

Living Overseas on Passive Income

I like the idea of waking up and receiving fresh dividends. Something about getting paid while I sleep makes this entire endeavor worthwhile.

Was I able to get paid every day? No, I was not able to get paid every day. By my calculations, I received dividend payments ten days out of the month. The problem is most stocks pay on the first and last days of the month.

Let’s review some of the major paydays throughout the month. The good part is that you can allocate more resources to the paydays that concern you the most.

Living Overseas: Cash & Emergency Fund

The first- the first of the month is always an amazing day. On the first, the closed-end funds PDI, PDO, PTY, NVG, and XFLT pay me.

Around the fourth- Around the fourth day of the month, the funds BLV, JEPI, and JEPQ pay me.

The tenth- The 10th of the month is my favorite day on all my accounts because AGNC pays me. This is usually a slow time except for this payment.

The last day- The last day of the month is massive, with UTF, UTG, ECC, LAND, and OXLC paying huge dividends.

The remainder of the dividend payments arrive throughout the month. The best plan is to receive a massive weekly dividend payment, with little ones along the way.

The In-Debt-ured Servant

How do I add to this account? This Frankenstein account is my little baby. I only use the funds from the royalties I receive from Amazon. You can read more about my book business in “Dividends vs. Royalties IV.”

The goal is to create money from thin air by writing books and then invest that money at a high yield. Do I plan to only add royalties to this account?

For the time being, that is the plan. However, things can change. My SoFi brokerage account also has a high-yield checking account called SoFi Money by Samsung.

I inject this checking account with royalties from Medium, Draft2Digital, and my website. Once I reach $2,000 in this account, I may start funneling more cash into my brokerage. We shall see.

Ultimately, this is a pet project. So far, I like how everything flows into the account without sending all types of emails.

Create Content Daily

I track these dividends on a separate tracker; I already track over 400 line items across our other brokerage accounts.

Becoming an income investor. If you want to start your Frankenstein account, it’s straightforward in today’s modern environment.

The only reason I opened my SoFi account in the first place was because of Samsung Money on my phone. Once I had that account, I saw everything that SoFi opened.

Remember that I am a hardcore SoFi believer and investor, but now I actually have an account there. Since I knew these 30 stocks already, it was easy to start this monthly plan.

Why Real Estate is IDEAL

You now have my list of monthly payers; however, there are many more. The goal of income investing is to produce an abundance of income to purchase more income.

I want my cash flow to overflow from my SoFi account and into my life. Having massive dividends hitting my account all month long prevents me from feeling life’s little troubles.

My dividend portfolios have saved me on more than one occasion. Overall, I receive over $2,100 monthly in dividends, with SoFi contributing about $16.

Employment in the Metaverse

Conclusion. You can look forward to more updates on this account; we can say every $5,000 marker. I am in this for the long run and will hopefully add value to your dividend-investing ambitions.

Once the dividends become significantly higher, I will share the individual dividend totals on these updates. Let me know what you would like to see in future updates.

Dividends can change your life, as they did mine. In today’s world of automatic investing, fractional shares, and dividend reinvestment, it’s the perfect time to become an income investor. Good Luck!

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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