Am I being unrealistic about my expectations of dividend income? Is there a better alternative?
I'd like some input on investing funds into stocks and/or bonds specifically targeting a regular dividend return, preferably a monthly return if possible. Currently I have a significant portion of my retirement funds and my regular brokerage account invested in S&P 500 index funds. Not all retirement options have Vanguard available, but my brokerage account is with Vanguard and I'm heavily invested in VFIAX.
I suppose my goal is to simply receive any dividends and just continue to receive them for the rest of my life. It's just that I'm not actually near retirement age, I'm just a middle aged guy, and ideally I would that over time the amount of dividends could continue to increase also. I'd be willing to continue investing in these funds if this is possible. I would like to set a target of around $200-300/month in dividends. I am thinking that by the end of this year I want to have about $25,000 invested in some combination of funds, and by this time next year about $50,000. I will probably need a little more than that to attain my $300/month first goal, but just getting to the $50k mark is also a separate goal.
ONE DISCLAIMER. Currently I'm in a situation where the direct purchase of any stocks, bonds, .gov bonds, ETFs and such would require me to report it for compliance review. So if I buy mutual funds, these aren't subject to review. I can buy those things I listed, it's just a bit more of a hassle to do so.
Can anyone suggest either a Vanguard mutual fund or possibly an ETF that might fit what I'm looking for. Overall my tolerance for risk is maybe middle of the road. In terms of equities I tend to keep my investments domestic, usually larger companies, but I could go for an occasional mid or small cap. I tend to not go for international stuff or industry specific funds; I'd have to see a pretty compelling history of returns before I'd take that leap. I'm strongly considering tossing between $5k-$10k into VWEHX, I just dont want to throw too much money into this one just yet.
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