2011 Dividend Income Goal

2011 Dividend Income Goal
We finished the year with $6,184 in dividend income versus our 2010 year end goal of $6,000. We plan on growing the yearly dividend income for 2011 to $6,700 by the end of the year from our end of year 2010 balance of $6,184. We plan on reinvesting dividends and investing additional money every month into our stock portfolio held at Zecco. In 2010, we saw many dividend increases and this is a welcome change from the cuts in 2008 and 2009.

I will continue to sell some stocks this year from our dividend stock portfolio that have cut their dividends. I also plan to be a little more conservative with my stock purchases for 2011. I will 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 2011 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.