60-Year-Old Canadian Earning $9,000 in Dividends Per Month Shares His Top 9 Stock Holdings

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Dividend investing is roaring back to the limelight as investors flock to attractive income-generating equities following the first rate cut by the Federal Reserve. Financial services company First Trust estimates that dividend-focused ETFs saw inflows worth a whopping $4.5 billion in July and August. The firm said in a report:

"If we had to pick a group that would eventually benefit the most from multiple rate cuts, we would suggest dividend-paying companies. In a market enthralled by expensive momentum stocks, quality, inexpensive dividend stocks are hiding in plain sight."

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But which quality, inexpensive dividend stocks should you pick to increase your wealth? Inspiration and ideas come from those who are doing it right. Let's take a look at an interesting success story.

About two years ago, a Redditor shared his detailed income report and portfolio screenshots on r/Dividends (a community with over 590,000 members on Reddit), saying that he was earning about $110,666 annually or $9,222 per month, in dividend income.

The investor, 60 and from Canada, said he planned to retire in two years. Asked why two years, since his dividend income was enough to retire immediately, the investor responded:

"It takes time to close down a practice (MD) and my youngest is still in University, so that's a last major expense."

Someone asked him for advice or tips. Here's what he said:

"Basically just dca every month 15% of income. (I) didn't really start making over 150,000 a year until 34 years old. So almost all of this has accumulated over the last 25 years. I should have pivoted to dividends earlier as many of my non dividend tech stocks have crashed hard."

The investor said he made about $200,000 after taxes. Answering a question about how many years he'd been accumulating wealth, he said:

"30. I have paid off my house, rec property and three cars."

Let's look at some of the biggest holdings in the portfolio.