 I'm going to build a $500 passive income portfolio within a year, and in this video I'm going to show you how I'm going to do it. Everybody loves the idea of fast money, investing $500 today and receiving $5,000 tomorrow. In fact, I like it too, but what I like even more is the idea of financial freedom. The definition of financial freedom is different for every single one of us, depending on your desired lifestyle and your monthly expenses, like it can vary by a lot. For me personally, I set a goal of $500 a month within a year because I know what it takes to receive $500 a month. It's a big chunk of money. When I say I want to have a portfolio that provides me with $500 each month, I'm talking pre-tax. Most likely taxes will change in the future, but as of now, I will probably have to pay 20% on each qualified dividend payment. So if we assume I want to make $6,000 each year in passive income in form of dividends, my portfolio has to be worth $150,000. Even though that's a huge number, it's not impossible to achieve. So first of all, I already have a little bit of a head start because I don't start from zero. I started investing in companies that pay me dividends about a year ago, and I think I have roughly $20,000 in dividend paying stocks. These shares are currently in my Robinhood account, but since I started options trading heavily on Robinhood, I don't want to have like both of those portfolios combined. So I transferred or at least I started the transfer from my Robinhood account to my M1 finance account. So I have all my dividend paying stocks over there and I can build my portfolio on M1 finance. There are many reasons why I like M1 finance. Number one, it's visually pleasing. Like when I look at it, it just looks good. You see exactly what company you're investing in. You see exactly the dividend yield. In combination, like all of this, you see exactly how big your dividend payment was, what percentage that is of your entire investment. So I'm really excited to start my portfolio over there. I hope within the next week, all of my shares will be transferred. So I have all of this stuff in there and then I can give you guys an update and so we see what the starting point is. On top of that, I additionally funded my M1 finance account with $6,000. So I should roughly start with $26,000 to begin this journey. So what are the best companies to invest in? First of all, I am not a financial advisor and this video is for entertainment purposes only and all the future companies that I will mention in the next couple of minutes are just based on my liking. I like certain companies for different reasons. So do not trust anybody with your money. Do your own research before you invest any money. So for all of you who are familiar with dividend aristocrats, yes, I got them all. A dividend aristocrat is a company within the S&P 500 that has paid and increased their dividend for at least 25 consecutive years. Most of the aristocrats I am invested in have raised and paid their dividends for at least 50 years, which is great. Here are a couple of examples. Target, 3M, Coca-Cola, Johnson & Johnson, Pepsi, McDonald's, Walmart. I am pretty sure you have heard of most of them or even spent money on their products. But I also invest in companies that I truly believe in that are not aristocrats. For example, Waste Management. Every Monday, which is trash day in my neighborhood, I see massive garbage trucks passing by and they have a beautiful big logo on the side. So here's my question. Do you think that one day the human population will stop producing waste? I cannot see a foreseeable future that is waste free. So that's why Waste Management made it into my portfolio. Another great example is AT&T. AT&T's dividend yield is 7%, which is insane. But the high dividend yield is not the reason why AT&T made it into my portfolio. I've been using and paying AT&T $100 each month for a couple of years now and I'm very happy with the service. I'm not trying to change my phone provider anytime soon, so I'm like, if I think that way, I'm pretty sure a lot of other people think that way too. On top of that, I also have an HBO Max subscription, which basically allows me to stream movies, which is also owned by AT&T. Name is Warner Brothers and New Line Cinema. Another great example is Coca-Cola. The dividend yield is about 3%. And for me, it also has something that brings me back to my childhood. I've been drinking Coca-Cola since I was, I don't know, seven, eight years old. Not on a regular basis, but as a treat. I've been using Coca-Cola as a treat. When I celebrate something and I have a rum and coke, that's my go-to soda. So here's my question. I've been drinking it for so long. I don't see myself not drinking Coca-Cola in the future. Again, I'm not drinking it on a daily basis. It's like a celebratory, celebratory, celebratory drink for me. So basically, I'm going to invest in companies that pay dividends and at the same time, I actively use in my real life. And I also want to hold for 10 to 20 years. If I could invest in Falcon, he pays dividends. He actually does. He pays dividends in love. I love you too, baby. Can I please finish this video? It's really hard shooting videos when this cute little puppy comes over and loves you so much. I love you too, baby. Yeah, I know. So I'll be dollar-cost averaging into this portfolio, meaning I will put money into that portfolio every week or every month. And as soon as I get, you know, make a good chunk of money through my options trading, I will just get that additional money and put it into my dividend portfolio as well. Well, that is it for today's video, guys. I'm really excited to start another financial challenge. If you want to see all my financial moves, I recently started a Patreon and I will be posting all my day trades in cryptocurrency. I will be posting my weekly option trades, my dividend portfolio and my growth portfolio. I will put all that information in there, so feel free to join if you want to be part of this. Also, if you like this video, please help me out with the YouTube algorithm. You know how it goes. Like, comment and subscribe, even the notifications on. It helps me a lot. Thank you so much. Oh my God. I love you. Yeah, I love you.