Wouldn't it be amazing to earn money while you sleep? In my quest to learn how to do this, I came across the concept of dividend investing.
You might be asking, “What is dividend investing?” Well, that is what we’re going to learn all about today.
To help us learn how to master dividend investing, I’ve invited Nadia Busseuil and Nicole Carter on the podcast.
Nadia and Nicole are ex-Wall Street executives, Moms and Millionaires who reached financial independence in their 30’s. They are also the dynamic duo behind The Wealth Twins, a YouTube Channel and blog that is focused on helping others create and grow their wealth.
Understand Your Annual Expenses
When you know how much you spend each year, then you know how much you need to cover when it comes to investing for your financial independence. As Nadia and Nicole said, if you use the 4% withdrawal rate on a $1,000,000 portfolio, then you can live on $40k per year.
Do you spend $40k per year right now? If you don’t know how much you spend, find out!
Invest for the Long Terms
Attempting to buy low and sell high is a game that not many people can win. Instead, consider buying and holding for the long term. This strategy can help you to earn, create more recurring dividends and potentially make you less stressed.
Use Tax Advantaged Accounts
Nadia and Nicole’s secret to millionaire success isn’t such a secret!
They invested in their 401ks, took advantage of the match, automated it (using blooom can help), didn’t touch it and looked back years later and voila – millionaires!
Now, the “not touching it” part might be the toughest part if you’ve been affected by a layoff. If can find a way to live on less, use your emergency fund instead of your retirement funds, and find new ways to make money, then you too could become a millionaire just like Nicole and Nadia.
Guest Bio – Nadia Busseuil and Nicole Ozelge
Twin entrepreneurs who reached Financial Independence in their early 30s. We teach others how to improve their personal finances through investing, growing, and managing their money.
When Nadia and Nicole aren’t helping others grow their wealth, they enjoy cooking and traveling around the world.
Nadia Busseuil and Nicole Ozelge Resources
Listen and Subscribe
- Personal Capital: Track your net worth, investments and budget for free. Receive a $20 Amazon gift card for signing up.
MKM Podcast Resources
- MKM Mastermind: Learn more about this mastermind community that helps you achieve your big goals this year!
- Thriving Families Facebook Group: Join our new FREE Facebook Community!
- Young Family Wealth Playbook (FREE): 7-Steps to Solidifying Your Family’s Future Wealth
- One-on-One Coaching: Schedule your FREE 15-minute discovery call with Andy to help you on your Young Family Wealth journey!
Carpe Diem Quote
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”― Robert G. Allen
What do you think of dividend investing? Are you using it to help you achieve financial independence?
Please let us know in the comments below.