By Brett Owens
You might think a $500,000 nest egg isnaEURtmt enough to retire on, and I wouldnaEURtmt blame you. The financial media loves to tout $1 million as the end-all be-all mark of financial security.
But today, IaEURtmll show you how wrong they are, and how secure you can be even with just half of what aEURoeconventional wisdomaEUR says you need aEUR" as long as youaEURtmre in the right kind of dividend stock.
And IaEURtmll also show you exactly what kind of dividend stocks you need to get the job done and the bills paid.
Those bills, by the way, come every month. You and I both know this aEUR" for me, the mortgage is due come the 4th, electricity on the 10th, have been for years. But some people somehow forget this when planning out their portfolios. The result? Their motley crew of quarterly dividend stocks results in aEURoelumpyaEUR distributions where some months are heavy, and others are thin.
I prefer a nice, steady stream of monthly income I know I can count on. And you can get that, as the name would suggest, from monthly dividend stocks.
IaEURtmm currently targeting a collection of eight monthly dividend payers that yield an average of 7.9% and deliver that income every 30 days or so. So itaEURtms not just consistent income aEUR" itaEURtms hefty, retirement-sustaining income. These stocks can deliver roughly $3,300 in dividends every month on a $500,000 portfolio, not to mention upside potential you can use to help grow your nest egg, and thus reap even more in regular dividend checks!
ThereaEURtms only one cap on my strategy: If youaEURtmre already a billionaire, this list canaEURtmt help you. ThataEURtms because these Goldilocks payers are simply too small to absorb all of your cash. With total market caps around $1 billion or $2 billion, these vehicles are too small for institutional money.
But which monthly dividend payers make the grade?
Realty Income ( O )
Dividend Yield: 4.5%
Any discussion of monthly dividend companies needs to start with aEUR