Over the past few months a lot of people have been looking at their finances and ways to top up their primary income.
Those on furlough have seen a drop in their monthly income, which in many cases has been offset by reduced spending on fuel, commuting and that daily Chameleon Cold-Brew Vanilla Coffee with extra syrup.
For many, a side-hustle or “gig” job is a way of boosting income. But others, including those reading this blog, have been looking at investing in dividend paying stocks to supplement income.
We have also been spending time on looking at revising and building our dividend income portfolio.
Many stocks pay out dividends every 6 months, or every quarter, but there are some which pay out monthly.
Using a combination of stocks, ETFs and funds it’s possible to build a regular dividend income, or passive income.
This can be done with as little at 6 shares!
For instance, choose a share which pays a dividend in January and June, another which pays in February and July, a third which pays in March and August…. you get the picture.
Which just 6 stocks paying out two dividends per year it’s possible to receive 12 monthly dividends.
You can even go one step further and build a portfolio of shares, funds and ETFs which pay a weekly or even daily dividend! But, depending on your portfolio size, it may be better to concentrate on building a monthly income portfolio first.
Do you invest for dividend income? We’d love to hear about your portfolio choices!