Good Morning, Income Investors!
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When creating a portfolio, you need to decide its purpose and the goals you have for it. This way, every investment, and every decision can be weighed on if it is helping you achieve your goal, or moving you away from it.
Knowing where you are going can help you know what to do now.
Question 1: Why Am I Investing For?
Seems pretty basic right? You need to know the why behind your entire portfolio. Is it to afford your dream car? Maybe to set money aside for your potential grandchildren one day. Every reason will provide you with a different timeframe for investing. Some are short term so you don't want to wait on that dividend growth stock to raise its dividend if you have 6 months to get some return from it. Conversely, if you've got 100 years on the clock, your urgency and demands will be vastly different.
If you're like most individuals, you're investing for retirement. This means you have 40-50 years to build your portfolio before needing to heavily rely on it.
Question 2: What Kind of Expenses Will I Face?
When you've reached your endpoint, you need to know or have an idea of the costs associated. If your portfolio's entire point is buying a car, you'll need the balance to cover that one-time cost. However, if your portfolio is being used to fund your retirement. You need to know that retiring isn't a one-time payment and its over. You will have regular recurring expenses and sudden one-time costs over a large span of years. This means you need to plan your portfolio accordingly. It needs sufficient size to generate the income you want over the long haul. Filling it with idle, non-dividend paying securities may work for your car portfolio, but misses the point for your retirement portfolio.
Question 3: How Will I Invest to Get to My Goal?
Here's where the rubber meets the road. You know why you're investing and what the endgame expenses are. So how will you get from point A to point B with success?
For saving for a car, you could simply put all those funds in a savings account and when you hit your goal you're set. Or you can invest it like someone saving for retirement.
When saving for retirement, a lot of investors make the mistake of saving like they do for a new car! They put it in yieldless options and hope to have an orderly winding down of their assets. Your retirement isn't a one-time car-buying experience. It's decades of life to be lived and enjoyed! You need a portfolio to meet that head-on.
Over 8,000 retirees and income investors are using our Income Method to achieve success in retirement and retirement investing. We find sustainable income generators to place into our portfolio. We can kick back and relax knowing that dividends are on their way and we don't have to babysit them. If you're not retired yet, keep adding to your portfolio, reinvest those dividends, and watch as what started as a small stream grows exponentially into a roaring river of income into your account.
Are you ready to become an income investor?
We can't say it better than our members:
Stop wondering if you will have the income you need in retirement; start growing your income stream now. We are the largest community of income investors and retirees, with over 8,000 members. Our "Model Portfolio" targets a +8% yield, with the highest and safest dividend stocks, preferred stocks, and bonds. This service is ranked #1 in dividends, income, and retirement. If you are looking for high, sustainable income, you have come to the right place!
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