Dividend Days

I take a unique approach when it comes to my career. Most people tend to focus on one job or job-type, throw themselves at it, and lock themselves into that path for the next 20-30 years, climbing the income and career ladder as time passes. Instead I take a different approach…

• Diversify: I believe in the power of diversification well beyond investing terms. Think of it this way: If you lost your job tomorrow, how could you support yourself? Would you immediately have to find a new job? Do you have reserves to run off of until that happens? Are you accustomed to a certain lifestyle that requires a relatively high amount of income? Instead of just doing one job, I have several. I write for a number of online publications, some blogs and a column here and there. I’ve also created a site portfolio, covering a variety of niches from cars to diseases, providing valuable information to users while also proving steady advertising income each month. On top of that I have my dividend portfolio to tap into (just the dividends!) in times when I need additional income. Finally I’ll soon (hopefully) be working as an assistant Financial Planner part time. If one of my jobs fell through, I could still support myself. Build yourself a financial moat.
• Be Creative: When I left the comfort of my full time 9-5 job in financial services, a lot of people to go seek out another full time (hopefully better paying) job. I’ve gotten a lot of skepticism that my approach may not work, but how are we to know until you try? Don’t be afraid to try new things, and remember the worst case scenario is that you fail and you can return to the comfort of a regular job. If you don’t believe me, check out Kirsty’s site, Nerdy Nomad, or Almost Fearless. They’ve veered well off the traditional path, but they’ve found happiness (and enough money to keep themselves afloat) along the way. Thinking outside the box has allowed me to design my lifestyle the way I want it to be: portable, fulfilling, and fun!
• Be Patient: One of the biggest mistakes many people run into when going out on their own or looking into new sources of income is that if it doesn’t make money RIGHT NOW then its time to close shop. One of my other blogs took months of content, link building, etc. before it even hit break-even to cover the hosting costs. After pushing on through the dry spell its now one of my more profitable ventures. Know when to accept defeat, but also understand that it takes time to develop reliable sources of income.

Within the next few weeks keep an eye out for some actual dividend analysis! If you have any suggestions for a particular stock, drop me a line and I’ll see what I can do.

Tags: Alternate Income, dividend growth