There’s a common misconception that it takes about 35 years or so to build enough savings to comfortably retire…
Lucky for you, there’s a way to cut corners on this lengthy timeline!
If you feel as if you don’t have the patience to sit around and wait years on end for this date to arrive, then I have just the answer you’re looking for.
Here’s a simple shortcut to building retirement savings that can leave you free from work in no time.
So, how far away are you from reaching your retirement savings goal?
The so-called “experts” claim you’ll need approximately $1,000,000 worth of savings, but even if you’ve only managed to set aside half of that amount, you may be closer to retirement than you think.
The trick is to use these funds in a way that allows you to passively build even more income. Yes, it really does pay to save.
But I’m not just talking about any type of retirement savings account here. What I’m referring to are dividends.
In short, dividends are a sum of money that’s paid quarterly by a company to its shareholders.
Simple enough, right?
Pumping your savings into an account that offers dividends is an easy way to expedite your retirement date.
By now, you’re probably wondering where exactly you should funnel these retirement savings though… After all, there are thousands of companies that currently offer dividend payouts.
One option is the Tortoise Power and Energy Infrastructure Fund (TPZ).
As I write this, TPZ is offering a 8.1% dividend!
On top of that, the investment itself looks better than ever. We’re only a few weeks into 2019 and TPZ shares have already gone up a little over 20%!
This means that investing your $500,000 into TPZ would’ve already made you a HUNDRED GRAND, not to mention the additional $162,000 in dividends that would’ve accumulated by the end of the year.
That’s a total of $262k in extra savings (more than half of what you originally started with) just for having your savings in the right place at the right time.
But it doesn’t end there…
After pocketing more than a quarter million in interest and dividend payouts, you can turn around and immediately reinvest that money.
Now, instead of building off $500,000 you’re working with $762,000!
You get the picture, but you can see for yourself how these dividends start to stack up next that kind of cash.
If you’re looking for a shortcut to retirement, then building savings via dividends may be your best bet.
Feel free to use this same formula or find another investment with dividends that fits your needs.
Just remember that there’s more to it than just finding a high dividend yield. The investment itself needs to be in good health, like TPZ, which has already grown 20.5% since the start of 2019.
Once you find what you’re searching for, deposit your funds and get ready to collect this effortless income that comes around 4 times a year.