Bare Minimum needed to Retire & Live off Dividends

How much money do you need invested to retire and live off passive dividend income? With the right budgeting and planning, the amount may be far less than you think. I show how I plan to retire off my dividend portfolio with only $300,000

Intro 0:00
Lifestyle creep 1:07
Minimalism 2:45
Average budget 3:43
Average retirement 6:36
How to retire early 7:54
Minimalist retirement 11:30

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[mjss]

What is nice about having a minimalism / low target for needs is that once you get to the point in which your investments will cover if one decides to FIRE is their entire mindset about work changes.

What used to be a boring or annoying job to go to you may not even care anymore about the job being boring or annoying. Knowing that you can move on whenever you want really changes one's outlook as well as how they feel about the things today. Knowing that you don't have to go to your job but going just because almost makes it feel like a new thing. I mean when the burden is off your back as you have the assets to not work if you don't want to, continuing to work is like....well, nothing compared to when you have to work or you living in your car.

I would recommend to everyone to live like you want to fire, then when you actually get to the point that, on paper, you could fire, then keep working to keep busy and even a few more years adding to your nest egg will make fire even better. Or, just get a job doing what you want even if it pays $10 and is part time. You are your own boss now. Or, go out and start the blog or travel vlog you always wanted to. Use your time to volunteer. The options are many when you don't have to be doing something for 40+ hours per week.

Oh, and if you are a teenager, save all your money. The crap you buy when you are 16, 17, 18, you won't really even remember or care about a few years later. Invest as much as you can until your parents throw you out :-)

[Tyler-bzse]

Nice Video Nick. Good choice on speaking to the camera. Keep the daily videos coming. I’ve been getting a lot of good info and content from you.

[dondinero]

Awesome video Nick. Keep up the great content!!

[ashaaib]

If your plan is to retire early but you invest less than 50k a year you should give up on dividends investing. The returns are not worth it and you gonna need more than 25 years for your money to grow enough to be able to retire.

[KittKattBarr]

Oh my word, 400/mo for 1 person for food? Goodness! $475 is what I spend for a family of 4. You might want to look at that expense a bit. You can still eat great and not spend tons of money for 1 person.

[thavonephanthavongsa]

sometimes you goota roll the dices i drop my car insurance and health insurance the plan is not to die in a car wreck WINKS

[travelingwithdusty]

When one wants to live off of dividends, it has to be a traditional IRA right? Stuff like Roth IRA do not work for this method? Any suggestions for good brokerages to use for the correct account? Thank you!

[CalmerThanYouAre]

Great content. If anything, this video highlights how important it is to develop marketable skills and leverage them to increase your income. Decreasing expenses to poverty level is a tough life to sustain. Ages 20-40 should be spent mastering your craft and each year increasing your velocity toward FI by increasing earnings while maintaining frugality.

It’s definitely possible to reach impoverished FI sooner by saving aggressively, living a minimalist lifestyle and being ultra frugal. But what kind of goal is that, really? Did you trade a consumerist addiction for a scarcity addiction? Gotta have balance to have a healthy life… the journey is as meaningful as the destination.

[tortoisehead]

The biggest problem with trying to live off of $1, 250 per month (for you) is inflation. You're so young and inflation will make it harder and harder to live off of $1, 250 every year.

[drypowder]

I have a family of 4 and we have a budget of $715 for food every month. Most months we have a surplus of money from the food budget.

[polievets]

🤣🤣🤣 Yeah, sure leave below your means do whatever you can to save and invest, and when you are going to be an old man/woman, all your efforts will be screwed by inflation and by the almighty USA, so enjoy while you can and when you will be old look for another country

[dakkon]

$400/mth for groceries? I'm single, in the US, and spend $200 or less. You eating a lot of steak and salmon? haha