Soon it will be already two months since OptionsBrew.com has been launched. These have been very interesting and fruitful two months.
We got very lucky and already have reached 17% from our $10K goal (we still have six months to reach it, and it looks quite realistic to get there)
An additional thing we should tune up - dividend income, here at OptionsBrew.com we use 50% from our monthly trading income to buy a good dividend stock to collect the dividend for the long run. The other half is withdrawn and spent for paying bills.
One way we are measuring our dividend income is by using the trailing 12 months (TTM) method.
Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures.
Our current TTM is set at $15.30 or an average of $1.28/mo.
And now we are going to set our dividend income goal - to reach $200 dividend income in Trailing 12 months (TTM) by the end of 2020
$200 TTM dividend is about $16.66/mo - this is definitely not a huge or hard to achieve (if you have funds to invest), some could throw in $2,000 in a high yielding dividend stock and get there, but as options income is our main focus, dividends are left secondary.
When investing for dividends we are looking to invest in high quality, preferably dividend aristocrat stocks. High quality and dividend aristocrat stocks come with much lower dividend yield than those with attractive 10+% yields. Lower yields also give less stress (hopefully)
It will ask us to beef up our TTM dividend income by some $184.7 in the next 6 months.
Here are two stocks we are planning to buy at the end of each month: PBCT and O, but most probably we will add some more ticker(s) till the end of the year. Will see.
On average we should boost our monthly average dividend income by $2.77 every month to get to our goal.
You can follow our journey here: Dividend Stock Portfolio