Design a Dividend Investing Strategy Around My Income Needs

You want your portfolio to pay you, not just grow on paper. Tell it your monthly income target, current portfolio value, what you can add each month and your tax position, and it plans a dividend strategy: the yield-versus-growth trade-off, diversification across sectors and regions, and how to screen for dividends that will not get cut the moment things wobble.

I want to build a dividend income strategy. My target monthly income is {MONTHLY_INCOME_TARGET}, my current portfolio value is {PORTFOLIO_VALUE}, and I can add {MONTHLY_CONTRIBUTION} per month. My tax situation is: {TAX_SITUATION}. Plan a strategy that covers: target yield vs dividend growth trade-off, diversification across sectors and geographies, how to screen for dividend sustainability using payout ratio and free cash flow cover, reinvestment vs withdrawal approach, and a suggested blend of individual stocks and income ETFs. Include a realistic timeline to reach my income target and the key risks to the plan, especially dividend cuts and inflation erosion.