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In this Beginner's Dividend Portfolio-Building Masterclass, I talk about the 3 steps on how to build a $20-$40K dividend-paying portfolio.
1. Buy dividend-paying assets (ETFs vs companies)
2. Use the DCA method (Dollar cost averaging method)
3. DRIP vs self-reinvestments vs income
I also talk about the number one mistake beginner's make, which is that many people will focus ONLY on the dividend yield.
You don't want to do this. Sadly, I made this mistake too. Instead, you want to focus on both:
1. The growth of the asset
2. The growth of the dividend payouts
Remember that this is a BEGINNER'S video and I didn't want to get into the complexity of describing the growth of the shares, ETF/stock splits, etc. I wanted to make all variables static to keep the video simple.
As a former public school teacher, I found that when things are too complex, people often don't take action.
Also, the $20-$40K dividend payouts are relative to your overall account value. Start small and invest consistently to help you grow your wealth exponentially in the long-term. It's okay to be the turtle.
I hope that we're all able to plant our acorns now, so we can all have oak trees later and be able to live off of our dividends and asset growth.
Hope this video brings value to you and encourages you to start building your wealth! :)
Have a good day!
-Steve
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