Highlights:
- Who dividend investing actually works for - and what to do if it’s not for you
- 5 top-rated trackers that simplify and maximize your dividends
- Turn passive income into a reliable part of your financial plan
Dividend investing gets a lot of attention, but it only makes sense in certain situations.
If you’re in (or nearing) retirement, dividend investing is a great way to create a reliable income stream. If that’s you, we’ve got 5 tools to help!
If you’re a long-term investor focused on growth, it’s probably not the time for this strategy. Here’s why.
What dividend investing really means
Dividend investing doesn’t mean you’re getting more money.
It means the company is handing out some of its profits to shareholders, instead of putting that money back into the business.
That cash could’ve helped the company grow and boosted the stock price over time, but taking a dividend means you’re getting it in your pocket now.
You have to ask yourself: Would you rather have a smaller cash payout today, or a bigger total return later?
That’s why dividend investing is a trade-off. You exchange growth for predictable income.
For long-term investors, chasing dividends too early often means missing out on bigger growth.
Dividend investing is good for:
- Reliable cash flow
- Income you can live off of
- Lower portfolio volatility (sometimes)
- A sense of control and predictability
If you’re in retirement, this reliable payout may be exactly what you need - and we’ve rounded up 5 tools that make it easier.
Top tools for dividend investors
Our team has tried a number of tools, and these are what came out on top. (It was a hot debate!)
Whether you are looking for something simple or you want to dive deep into data, there’s something here for you.
Check these out and save hours of manual tracking and make better investing decisions:
Passiv
While not strictly a dividend tracker, Passiv helps investors get a good picture of their dividend income.
Plus, it helps get your dividends working for you ASAP!
You get a notification once cash lands in your account so you can get it invested. (One-click trades are perfect for this!)
You can easily see how much income your portfolio is generating by dividends, including your average monthly dividends and total dividend income over a certain timeframe.
Just log into Passiv and choose “Reporting” from the left-hand menu to see your dividend summary.
If you’re not using Passiv yet, click here to get your “Forever Free” account!
What investors say:
“It is easy to use and it helps me achieve my goal which is to generate monthly income through dividends.”
“It’s especially useful as a dividend investor to see dividends, track portfolios and manage multiple portfolios.”
“Great for receiving notifications when I get dividends.”
The Dividend Tracker
This tool is popular with both seasoned and beginner dividend investors.
This makes it easy to stay on top of your dividend income, portfolio performance, and financial goals.
You’ll see exactly how much dividend income to expect, when it’s coming, and get a heads-up if anything changes.
The customizable goal tracking helps you stay motivated and measure progress toward your passive income targets. You can actually see how close you are to reaching financial independence through dividends alone..
Investors say that the desktop and mobile apps are user-friendly and make it so easy to track their progress without feeling overwhelmed.
What investors say:
“I love the dividend notifications. Knowing about cuts and increases instantly helps me make informed decisions for my portfolio.”
“The ability to project future income has been a game-changer for planning my long-term financial goals.”
“The app's clarity and features make it perfect for retirees like me who want to stay on top of their investments.”
DivTracker
This tool is designed for dividend investors who want detailed data.
DivTracker gives a detailed look at your portfolio - see your dividend composition, sector breakdowns, upcoming payouts, and earnings dates.
You can track multiple portfolios and get a clear dividend calendar to stay ahead of important dates.
What makes it stand out is the depth of stock-level data. You can see everything from dividend history to payout ratios, helping you make informed decisions.
Investors love how intuitive and easy it is to use, while still giving them in-depth data they need to make better decisions.
What investors say:
“This has to be the best dividend tracking investment software by far. Not only does it track your dividends, it keeps you updated on news and can be used on multiple devices.”
“It offers much more information than any other app I came across.”
“If you're here looking for an app to track dividends, you are at the right one. I have tried all of them on the App Store and this one is the best!!!”
Snowball Analytics
This platform is a favorite among dividend investors who want a more advanced, data-rich view of their portfolio.
Snowball Analytics stands out with powerful tools like dividend safety ratings, payout ratio tracking, and historical dividend growth. This helps you assess the reliability and future potential of your passive income.
See your dividend calendar for the year ahead, compare your income across time, and even benchmark your portfolio performance against major indices like the S&P 500 and TSX.
Unlike simpler tools, Snowball also helps you track diversification by region, sector, and asset class - including the breakdown of your ETFs and mutual funds.
Investors love that it includes additional tools like one-click rebalancing and risk-adjusted return metrics.
What investors say:
“My favorite thing about Snowball? It found everything I’m invested in - even my pension funds. I no longer have to manually calculate my exposure every month.”
“The backtesting tools and flexible charts make this feel more like an institutional-grade platform.”
“The built-in AI tools are super helpful. It feels like having an assistant that actually understands my portfolio.”
Dividend Watch
This tool is a great fit for dividend investors who want clarity without the clutter.
Dividend Watch makes it easy to track your income, reinvestments, and performance with a clean, intuitive interface.
You get income forecasts, a 12-month dividend calendar, and weekly portfolio summaries so it’s easy to see big changes.
It also lets you customize withholding tax rates by holding or portfolio, so your income projections reflect real-world numbers.
See how your investments are really doing by seeing your yield on cost and total returns - with full transparency across capital gains, income, and currency performance.
Investors say it’s refreshingly simple to use, with just the right amount of insight to plan smarter without getting bogged down by data.
What investors say:
“As an investor, you must escape the noise from news, social networks, etc. The same principle applies for your portfolio analysis. With Dividend Watch less is more, with quick and focused analysis.”
“I found this on Google and decided to give it a try. After adding a few stocks to my portfolio, I realized that this was exactly what I was looking for!”
“I love your website and all the investing tools. It gives me a perfect view of my actual and future situation. I think Dividend Watch tools are the best available.”
Is dividend investing for you?
Dividend investing isn’t about making the most money, it’s about making predictable money.
If retirement is on the horizon and you want a stable source of income, dividend investing might be exactly what you need - and the right tools make it easier.
However, if you’re building wealth for the long haul, you’re better off focusing on growth.
Wondering how to do that?
Click here for the guide that breaks down the best way to save for retirement!
