Now, a theme for this blog is to create Passive Income Generators (PIGs). My favorite passive income generator is dividend stocks and why I love building my dividend stock portfolio for weekly income.
If I could create a portfolio that frequently gave dividend returns, I could satisfy my dopamine-driven brain and make this a fun portfolio.
Note: I have concluded my retirement portfolios (pre-tax and post-tax) will do their best on ‘auto-pilot’ by being primarily invested in Schwab U.S. Dividend Equity ETF (SCHD). I’ve found out if ‘auto-pilot’ those accounts with one ETF does better than S&P500 on total returns. To keep my interest, I have to improve this account and reward myself more often than quarterly(like SCHD).
Making The Right Choices For My Diversified Dividend Stock Portfolio For Weekly Income.
Choosing the right dividend stock can help accelerate your portfolio growth during up markets and soften the blow during down markets.
The problem with most dividend stocks, they are boring.
Warren Buffett is credited with saying, The Best Investment Strategy Is Boring.
Well, for a person like me, I need to make investing exciting.
My retirement funds and almost all my after-tax investments are one or two dividend ETF stocks and stocks that pay quarterly(mentioned in the NOTE above). So there is a ghost town between dividends where I watch the market move up and down and sideways. Boring.
I like seeing dividends, so if I could make an experimental portfolio of dividend stocks that create at least one dividend payment per week, I could boost my enthusiasm.
Seeing a dividend deposited and reinvested while watching my portfolio grow could inspire me to find more loose change and invest more.
I aim to create a diversified dividend stock portfolio that generates a weekly income stream.
My Weekly Paying Dividend Stock Options?
I am ruling out easy choices while designing this new portfolio.
Are There Any Dividend Stock That Pay Weekly?
A quick search reveals that the following stock pays out weekly dividends—an ETF stock.
SoFi Weekly Dividend ETF (WKLY)
Let’s look at WKLY. Will it meet some of my desires in a dividend stock and my goal for this weekly payout portfolio?
The SoFi Weekly Dividend ETF has a meager yield of < 3%. Even a fundamental dividend ETF like SCHD, SPYD, or SPHD has much higher yields, so WKLY’s yield is not very exciting.
Also, WKLY is sporting a high expense ratio, too high. It was way more elevated than the dividend stock ETF SPHD.
So this stock that pays weekly dividends is out.
I will have to create my weekly dividend stock portfolio from scratch.
How Do I Create A Weekly Dividend Income Portfolio?
Following the famous quote from Abraham Lincoln, “Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.”
This quote translates to me for my new portfolio, as doing much research first.
The nice thing is with the creation of YT, there are a whole lot of financial ‘experts’ offering a bunch of information. The problem today isn’t finding information; it’s weeding out the wrong information.
Author’s Notice: This page contains affiliate links, for which I may earn a commission by their use.
I have some familiar sources of good stock purchasing information:
YouTube Channel: Let’s Talk Money! with Joseph Hogue, CFA.
And
Book/Audio Book: Dividend Growth Machine: How to Supercharge Your Investment Returns with Dividend Stocks
My Dividend Growth Machine Review.
Follow Along As I Build This Fun Portfolio.
OK, I talk with my coworkers; they don’t find talking stocks fun. So this blog is my outlet for talking about everything related to Passive income and, more importantly, Growing Passive Income Generators (P.I.G.s).
If you have suggestions for good dividend-generating stocks, please leave feedback. I would love to hear your success stories.
Thank you,
Weekly Dividend Stock Portfolio Note:
I’ve been working on creating this weekly dividend portfolio(started in December 2021) all through 2022, and into 2023. I’ve added and trimmed away stocks, and ETFs, which allowed me to create one of my favorite investment portfolios.
Follow along with how I put this together, and let’s evaluate how I’m doing with my choices.
For real time stock portfolio setup on my M1 account: Passive Income Generator Weekly Income Dividends Portfolio.
 Myself with an interesting Bull Sculpture. Notice: No Lambo’s. :/ | Hi I’m Tom, A Blogger And A PIG Farmer. PIG Farmer as in I grow Passive Income Generators(PIG’s). I’ve been playing with stocks, mutual funds, and options for decades, as well as always working on my side hustle stacks. Unlike what you read online, I’ve yet to find a way to get rich quickly. Get Rich Quick isn’t happening for me. My journey has been long and continues. I hope to have so many PIGs I can stop working at my current job and volunteer as a medical worker overseas. Still waiting, but getting there. I still am a family man, and while on this Journey of Growing PIGs. I wanted to share my adventures(ups and downs), hoping you will contribute with your feedback and comments. Fun Fact: In my spare time, I am a Band-Dad! |