Smart investing fuels Sunshine State dreams.
The Petersons, owners of a successful automotive dealership in New York, faced high state taxes eroding their investment returns. They were seeking strategies to generate more passive income to support their planned relocation to Florida, a state with no income tax. Furthermore, they needed a clear understanding of the dividend yields and potential income from various investment options, particularly given the cyclical nature of the automotive industry.
Golden Door Asset employed our Dividend Calculator to analyze the Petersons' existing portfolio and identify opportunities to shift towards higher-yielding dividend stocks. By strategically reallocating a portion of their assets into dividend-focused ETFs and individual stocks with an average yield of 4.5%, they projected an additional $35,000 in annual dividend income. We also used the Tax Equivalent Yield calculator to demonstrate the benefits of tax-free municipal bonds in their NY portfolio.
The Dividend Calculator was used to input various stock and ETF options, considering their dividend yields and ex-dividend dates. The Tax Equivalent Yield Calculator was used to compare taxable dividend income with tax-free municipal bond yields, facilitating informed investment decisions.
$35,000 in additional annual dividend income and a projected $15,000 annual state tax savings by relocating to Florida, significantly enhancing their retirement readiness.
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