It's time to take control of our finances as we enter our 50s. We have completed the toughest part of our financial lives (our 30s and 40s).

Now, it's time to ensure our passive dividend income exceeds our budgetary requirements. We do this by becoming income investors.

Depending on our age, income investing should account for 50-59% of our portfolio. This high allocation to income-investing products, like closed-end funds, will ensure we outpace inflation and exceed expectations.

I became an income investor at age 38 and never looked back. Five years later, I earn over $2,200/month from dividends.

I hope to earn $15,000/month in dividends by the time I reach age 59. Life is good on this side of the income spectrum. Good Luck!