I am obsessed with growing dividends and seeing them compound every year. Well now I am doing a crush the dividend challenge. (#dividendchallenge) The purpose is to well increase the dividends in 2015 and surpass what was received in 2014.
If you make the gap bigger between last year and this year you will experience year over year growth. The benefit of dividends will not only give you a greater sense of return on your money, but it will also provide the opportunity to get even more shares going forward. If you do this, you will invest on purpose for increasing dividends aka icing on the cake in my opinion.
Imagine getting 10K a year from dividends in 2015 and letting things compound. By the year 2020 can you imagine how much you will get from dividends? Its safe to say it will be more than 15 thousand dollars of free money just for holding an asset.
What in life gives you free money for holding it? Nothing does and only investments do. Now are you ready to crush the dividend challenge?
How can you crush The Dividend Challenge?
Well you have to allocate more free dollars into new or existing investments
Also you can focus on selecting and investing only in higher yielding options
Another tactic is to focus on specific mutual funds that give a bigger than average capital gains return in comparison to other funds
Reinvesting current dividends always gives you more dividends instead of cashing them out
Don’t invest into money market funds as those types of funds pay minimal dividends
These steps are plain and simple for all of us who are obsessed with increasing net worth and raising the bar financially, but not for those unfamiliar with investing.
If you made 100 dollars last year in dividends lets aim for 300 this year
If you made 500 dollars try to double it to a cool thousand
If you made 3,000 last year lets see if we can rock 5K by Dec 31
If you made 6K in 2014 from dividends, how does 10K sound this year
If you made 10 thousand dividend dollars, aim for 15K
The point is to supersede what you did in 2014 by rocking #dividendchallenge and invest any surplus money into mutual funds, ETF’s, Dividend stocks, Bonds anything investing related that will pay you to own it.
The websites below will give insight on how to rock dividends year after year:
Go to twitter and use the hastag #dividendchallenge and tweet how you are going to crush the dividend challenge in 2015. Don’t forget to tag me @Moneywatch101 so that I can retweet your response.
My Goal is to surpass 5K in dividends in 2015. What’s your Goal?
Comment if you want to join The Dividend Challenge?
Rich Uncle EL