Congratulations I am starting my journey now and investing 1600 a month including my dividend reinvestments a month in blue chip canadian stocks like Telcos and banks I hope to be financially free in around 6 years making at least 2000 a month. You guys are an inspiration for me to keep going. Currently have invested 33000 dollars so far making 139 per month. 5.1 percent average yield. I know 2k is not enough but for me most of my main bills will be paid and if i want can work min wage and make as much as my current job when combined with dividends. Currently 25 years old.
WOW!! This is amazing. To have that amount saved at 25 is truly a huge accomplishment. 2k is a great goal and will definitely set you up for financial freedom. We have a feeling though that you're going to surpass your goals sooner than you think. Already, you have proven that you have the ability to put your future first, and this mindset will allow you to reach your goal sooner than you believe! Great job!
I will keep going, adding to $O $MAIN and $SCHD will continue to add to these three then brush off to others want these 3 to bring me in a lot and start a snowball effect where I won’t have to add as much it it. Goal to retire is 45 years old I’m 31
I've been on a similar journey as you guys but for about 10 years. I'm currently just over 10K/month. I was quite a bit higher when I recently decided to cut most of my high yielding stocks in favor of lower yielding bank stocks that have at least 3% dividend increase every year. A high dividend yield that doesn't keep up with the cost of living will kill you in retirement ... I spent a lot of time with EXCEL confirming that. You guys are certainly on the right track, good luck in the future!
@@FIREWeGo I'm at the part of the dividend snowball (as some people call it) where the yearly increase is approximately 9K (buying Enbridge, BNS or similar). I'm planning on letting it grow for 3-4 more years. It's so tempting to leave it growing, but at some point I need to prioritize retiring and start spending this income.
We use a platform called 5i (link on our blog), they have a lot of great info and a forum to discuss options with other individuals. We generally stay with dividend aristocratic or kings, and blue chip companies
Great job in creating your own money printing machine 😆 Well done, Gean and Kristine 👏 The dividend snowball you showed for September months over the past several years is so powerful. Also way to go on bumping your annual dividend goal to $60K from $40K 🏆😎👌
Wow just got this recommended right AFTER i asked this exact question on your other video, but it was uploaded several hours before i asked haha, time travelers
It varies as we already had money invested and added new capital from the HELOC as well as began investing in the Corporate account, so it depends on the account really
@paulsantori8920 that amountnwas just fornthe money invested for the stocks paying out this quarter. We have other dividend stocks, along with growth oriented stocks that average out to a total of arou d 4.7% for all investments.
We are Canadian, so we think you will just need to google us listed and then the stock you are looking for. Then, use the ticker provided to look in your broker.
you guys are awsome! I always loved the transparency . Congrats on getting your goal or Fire closer and closer. I hold ENB and MFC in my portfolio but I haven't came to that comfort zone if you wanna call it to trim my position down to under 10 , I don't know how you guys do it but I hold 26 companies in mine and keep them under 5% except for CNR and FTS that I have them about 8%, Thanks again for another great video and happy Thanksgiving to all.
We currently hold around 19 positions total in our portfolio... a few less than you, but still more than 10! 26 is a good number, though, especially if you're comfortable with all of those options, good for you!! And it's working for you, and that's all that matters 😊
That's a good point. We do not recommend it to anyone who has a long horizon. In our case, the stocks are inside an account that will be the first one to drain. In addition, we will stop working next year and we do need income for a few years. Thanks for your comment.
Visit our Resources page: www.firewego.com/resources
Congratulations I am starting my journey now and investing 1600 a month including my dividend reinvestments a month in blue chip canadian stocks like Telcos and banks I hope to be financially free in around 6 years making at least 2000 a month. You guys are an inspiration for me to keep going. Currently have invested 33000 dollars so far making 139 per month. 5.1 percent average yield. I know 2k is not enough but for me most of my main bills will be paid and if i want can work min wage and make as much as my current job when combined with dividends. Currently 25 years old.
WOW!! This is amazing. To have that amount saved at 25 is truly a huge accomplishment. 2k is a great goal and will definitely set you up for financial freedom. We have a feeling though that you're going to surpass your goals sooner than you think. Already, you have proven that you have the ability to put your future first, and this mindset will allow you to reach your goal sooner than you believe! Great job!
Thank you so much means alot coming from you guys!
You're most welcome! Have a fantastic holiday!
@@FIREWeGo you guys too!
I will keep going, adding to $O $MAIN and $SCHD will continue to add to these three then brush off to others want these 3 to bring me in a lot and start a snowball effect where I won’t have to add as much it it. Goal to retire is 45 years old I’m 31
Amazing!!! 45 will arrive before you know it...and you may notice you'll be able to shave a few years off that! 😊
Compound interest is the 8th wonder of the world
Lol...couldn't agree more! 👍
I've been on a similar journey as you guys but for about 10 years. I'm currently just over 10K/month. I was quite a bit higher when I recently decided to cut most of my high yielding stocks in favor of lower yielding bank stocks that have at least 3% dividend increase every year. A high dividend yield that doesn't keep up with the cost of living will kill you in retirement ... I spent a lot of time with EXCEL confirming that. You guys are certainly on the right track, good luck in the future!
Congratulations of the amazing dividend income!! Are you living on this as of yet?
@@FIREWeGo I'm at the part of the dividend snowball (as some people call it) where the yearly increase is approximately 9K (buying Enbridge, BNS or similar). I'm planning on letting it grow for 3-4 more years. It's so tempting to leave it growing, but at some point I need to prioritize retiring and start spending this income.
@rickmorris3580 this is a hard transition to make! We have no doubt this transition is going to be a hard, but good one, for us as well!
Amazing achievements! You two clearly are having fun throughout this journey. It shows here in this video.
Thanks CJ! We do have a great time, having fun makes this process much easier for sure 😊
That is just amazing! 60k is a jump and a skip with you two! 🙌
We are hopeful!
How do you evaluate your dividend paying stock?
We use a platform called 5i (link on our blog), they have a lot of great info and a forum to discuss options with other individuals. We generally stay with dividend aristocratic or kings, and blue chip companies
I’m with Gean, I love excel too!!
Lol...it's so useful! 🤗
Great job in creating your own money printing machine 😆 Well done, Gean and Kristine 👏 The dividend snowball you showed for September months over the past several years is so powerful. Also way to go on bumping your annual dividend goal to $60K from $40K 🏆😎👌
Thank you, Moe!! We are super excited, and have worked really hard to make this happen... we are pretty confident we will achieve the 60k!
@@FIREWeGo yeah 😍🥳 You've got this 🥂
Thank you!
Hello there, you are great.l am following up your journey for more than 2 years. Congrats on your achievements!
Natalia, thanks so much for following along! We truly appreciate support and hope that you're also well on your way to FIRE! 😊
Wow just got this recommended right AFTER i asked this exact question on your other video, but it was uploaded several hours before i asked haha, time travelers
Good timing!! Any other questions, please feel free to ask 🤗
Excel is my favorite video game! 🤣
Lol...Gean's too!!!
great video. how much did you start the account with when you first started in 2020?
It varies as we already had money invested and added new capital from the HELOC as well as began investing in the Corporate account, so it depends on the account really
Great video- It would have been great if you shared your capital invested on each securities to give a more complete picture.
Thank you for reaching out and the comment. We will look at trying to add that info in the future 😊
This is exciting. Good for you both.
Thank you for your support and encouragement! 🤗
Congratulations 🎉🎉 love it!!!
Thank you so much!
That's awesome, guys. I'm hoping to get to that kind of passive income
You'll make it. Stay consistent and you can achieve it!
What is your overall yield for your total portfolio?
Our overall yield on cost, including all our investments, is 4.7% 😊
$4000 a month, $48000 per year, on $350000, wouldn’t that be a higher yield over 13%?
Was thinking about that too🤔@@paulsantori8920
@paulsantori8920 that amountnwas just fornthe money invested for the stocks paying out this quarter. We have other dividend stocks, along with growth oriented stocks that average out to a total of arou d 4.7% for all investments.
Sorry that is for our entire portfolio of investments, dividend and growth.
Keep goin! Im adding to my portfolio
Thats amazing and thank you for the encouragement 😊
Comgrats
Thanks so much!
I think FU money is better. Lol. Enjoying 🎉
Love the FU money too!
How much money you put every month?
As much as we can! We were investing all of Geans earning at one point, but the amount varied defending on his contracts.
Appreciate the transparency...
You're welcome. We believe you need to be transparent, people deserve to know the good and the bad 🤗
I think you can buy any of those stocks in usa
Most of then are probably traded on the US exchanges as well
Really,
webull doesn't have it , what exchange you recommend
@@FIREWeGo which exchange you recommend, sorry I'm new in this you tube thing
We are Canadian, so we think you will just need to google us listed and then the stock you are looking for. Then, use the ticker provided to look in your broker.
🎉🎉
Lol..Thank u!
Tsunty tsunty 1,2,3😂=4 his right Christine
Lol 😆
you guys are awsome! I always loved the transparency . Congrats on getting your goal or Fire closer and closer. I hold ENB and MFC in my portfolio but I haven't came to that comfort zone if you wanna call it to trim my position down to under 10 , I don't know how you guys do it but I hold 26 companies in mine and keep them under 5% except for CNR and FTS that I have them about 8%, Thanks again for another great video and happy Thanksgiving to all.
We currently hold around 19 positions total in our portfolio... a few less than you, but still more than 10! 26 is a good number, though, especially if you're comfortable with all of those options, good for you!! And it's working for you, and that's all that matters 😊
Don’t agree with those covered calls. Costs too much over time
That's a good point. We do not recommend it to anyone who has a long horizon. In our case, the stocks are inside an account that will be the first one to drain. In addition, we will stop working next year and we do need income for a few years. Thanks for your comment.