I Was Paid How Much by Robinhood!?

TL;DR

In this video, Andre Jikh shares how he has built 46 streams of passive income from dividends using the Robinhood brokerage app, highlighting the companies that have paid him and the importance of tracking dividend safety scores.

Transcript

you know how they say that you should build multiple streams of income so you're not relying on just one in case it goes away well I have built 46 streams of income from dividends alone using the Robin Hood brokerage app and I get paid 46 times which is almost as many this shirt has zippers I don't know why this shirt has 46 zippers but it does so ... Read More

Key Insights

• 🏛️ Building multiple streams of income from dividends can provide financial stability and passive income.
• 💯 Tracking dividend safety scores is crucial to ensure a consistent stream of income.
• ❓ Andre has a diverse portfolio of dividend-paying companies, including CMI, GW Granger, Wells Fargo, Aflac, and Pfizer.
• 💁 He has developed a comprehensive spreadsheet to track his dividend income, providing detailed information on dividend payments, sector allocation, and currency conversion.
• ❓ Dividend income remains consistent even with fluctuations in the stock market.
• 🤨 Dividend raises further increase the passive income generated from investments.
• ❓ Andre emphasizes the importance of being transparent about finances and inspiring others to start their investing journey.

Questions & Answers

Q: How did Andre build 46 streams of income from dividends?

Andre built his diverse portfolio by investing in dividend-paying companies through the Robinhood brokerage app. He carefully selected companies with a history of consistent dividends.

Q: How does Andre track dividend safety scores?

Andre uses a spreadsheet that he developed, which fetches stock data from Xignite, to automatically populate dividend payment information for each stock. He focuses on companies with high dividend safety scores to ensure stable income.

Q: Does dividend income change with fluctuations in the stock market?

No, dividend income remains unaffected by changes in the stock market. As long as the dividend-paying companies do not freeze or cut their dividends, Andre continues to receive consistent income.

Q: What is the benefit of dividend reinvestment plans (DRIP)?

Andre explains that DRIP automates reinvesting dividends back into the same companies, but it does not provide any financial or tax benefits. He personally reinvests his dividend income manually into other individual companies.

Summary & Key Takeaways

• Andre Jikh has built 46 streams of income from dividends alone using the Robinhood brokerage app.

• He shares the companies that have paid him dividends, such as CMI, GW Granger, Wells Fargo, Aflac, and Pfizer.

• Andre emphasizes the importance of tracking dividend safety scores to ensure stability and discusses his new dividend tracking spreadsheet.