I would like to thank My Dividend Pipeline for nominating Liebster Award Nomination. MDP is one of the blogs that I follow regularly – especially his weekly purchases.
Here are the questions from MDP
1) If you could retire with ONLY 5 dividend stock in your portfolio what would they be? (Here is the kicker…you cannot choose JNJ, KO, CVX, XOM, or PG)
I would choose GE, AAPL, MO, COP and PEP. These stocks are reliable dividend payers and also provide reasonable diversification. I hold everything except PEP which I plan to acquire soon.
2) What is the most important thing you would do in your first month of early retirement that you can’t do now because of your job commitments?
All through the life, we are just running around chasing one thing after another. For once, at least for the first few days/weeks, I would like to just not do anything. Of course, for who I am, I can’t do that for long. So traveling more often is something that I would definitely look at.
3) Mentally, how do you prepare for a massive stock market correction/collapse like we experienced in 2007-2009?
Right now I don’t rely on the income from the dividends. Hence a massive crash will actually help by enabling me to invest more dollars. But I always plan for any emergency by having a few months of expenses in an emergency fund.
4) What one major sacrifice will you make next year to accelerate your FI plans?
Not really a sacrifice, but would like to get my spouse involved in investments. Right now, I manage all of it. With both involved, it might be better and could open more avenues to invest more money towards FI
5) If you decided to open your own business today, what kind of business would it be?
I have always thought of opening a small-scale fast casual restaurant, but never really put too much thought into that.