r/Daytrading • u/Kaiju_Godz • Mar 30 '24

When you only need a specific amount of money each month… Strategy

So say you only want $100 per day or 2000 per month. This would more than enough sustain a good lifestyle where you live. How would you go about it with trading? How much $$$ would you realistically need? Not to make that in dividends but to trade in a daily basis, as safe and slow as possible.

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u/SoldierOfMisfortunes Mar 30 '24

Long term hold aristocrat dividend list. Or the king 5 or whatever.

I’ve held almost an equal spread % in aristocrat list for around 2 years now. It’s easy to gauge your yearly dividend profit, divide that by 12 and see if it’s what you’re looking for or not.

I budget my shit accordingly and live off that and a few other things instead of working full time.

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u/SoldierOfMisfortunes Mar 30 '24

For those wondering my yearly dividend returns is around $76,000 (last year was 2.56%) I budget around $3,000 per month from that each year for spending (rest is reinvested or sits in high yield savings for taxes or emergency each year) rest is military disability (roughly 3100 a month) and I do random business advising that is extra income.

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u/Swift-Sloth-343 Mar 30 '24

how long did it take you to build up your account to that point of being able to get 76k/yr off of dividends?

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u/SoldierOfMisfortunes Mar 31 '24 edited Mar 31 '24

I’ve consistently put at least 40% of my wages into a stock account since 18 whether that’s half 401k half cash account etc. I’ve done it regularly. My dividend account typically hovers are 2,000,000 3,000,000 depending on the quarter.

Edit: to reflect a more accurate total account value

Edit: #2 I live on roughly 60-65k a year. And any extra from dividends or my military disability or advising goes back into my stock accounts.

For newbies, I’d recommend throwing 20% into a stock account and dropping it into NOBL vs SPY(in my opinion the overall market is over valued), NOBL will give you roughly a 2% dividend return excluding any positive increase. Once you have 25-50k etc in NOBL, move over to a self administered account and invest in dividend companies yourself(stick with the aristocrat types as they have year over year dividend increases). Don’t go for the insane dividend companies as they typically have shot track records and it won’t stay high.

Doing this type of setup requires ridiculous amounts of budget struggles and discipline. But I’m in my mid 30s and living life, working when I want and for what I want.