2010 Dividend Income Plan
We plan on growing the yearly dividend income to $6,000 by the end of 2010 from our end of year 2009 balance of $5,468 by reinvesting dividends and investing additional money every month into our stock portfolio held at Zecco. In 2008 and 2009, we saw many dividend cuts that brought down our income considerably.(2009 year end plan $7,000 actual $5,468)

I will sell some stocks in our portfolio that have cut their dividends during 2010. I plan to be a little more conservative with my stock purchases for 2010. I will be focus on increasing stock purchases into our large blue chips stocks that will represent long term value. I will look to reduce some of my bank holding throughout 2010 as well.

Our long term goal is to have $30,000 in yearly dividend by retirement in 2024. Keep in mind, I don't consider this dividend stock portfolio diversified. I have most of our retirement assets in a diversified mutual fund portfolio with Vanguard.