Is it possible to live off of dividends?

Yes this is possible. just simply work backwards:

• understand how much you will need to survive (varies from singles to families)
• plan out how much is a realistic return for dividend yield
• most likey around 5 - 7% p.a
• create a diversified enough portfolio for that amount

Done. You can actually do this and i have friends also doing things like that in their 40s. By right they have no real need to work

Only thing is to manage your cashflow well as dividends can be quarterly or yearly.

Certainly. But you still have to manage them from time to time as nothing remains the same forever.

See this by Seedly , all the calculations and summary there:

https://blog.seedly.sg/dividend-investing-how-m...