Do you have a reliable way to generate monthly cash flow from the dividend stocks you own today? If not, why not?
Many “first-level” investors hope that their stocks will go higher so that they can sell them for cash flow. But, if you follow rich people, you’ll notice that they never actually sell any assets – they instead use them to generate more and more cash flow.
We can – and should – do the same. We can “tap” dividend stocks for regular cash flow. We can even turn the shares we own today into monthly dividend payments that provide us all the income we ever need for the rest of our lives (and we can hang onto the shares and enjoy price upside, too!)
Some financial advisers (many of whom haven’t even retired successfully themselves!) pitch a “4% withdrawal rate” where you “safely” withdraw roughly 4% each year that you use as spending money.…