I'm about two years away from retirement. I have a 401k and pension to handle my retirement. I want to build a steady dividend income stream that I can use for luxury stuff I may want in retirement and for emergencies seeing as I'll be fairly young, 48, at retirement.
I'm starting with 15k and will be adding $500 to it biweekly.
This is what I've started out with so far.
QQQI
SPYI
IWMI
BTCI
MA
My plan is to leave drip on until I hit 5k in each position then start using the dividends to add a new dividend aristocrat (KO, O, etc) to the portfolio.
I'd love to hear some thoughts on this approach or changes that I might consider.