The Goldman Sachs Group, Inc. (GS) is gearing up to report fourth-quarter earnings before the market opens on Thursday, January 15. But while everyone's focused on the numbers, there's another angle worth exploring: the bank's dividend payments and what it actually takes to turn them into meaningful monthly income.

Analysts are projecting earnings of $11.57 per share for the quarter, which would represent a slight decline from the $11.95 reported in the same period last year. Revenue expectations sit at $14.11 billion, up from $13.87 billion a year ago. It's a mixed picture, but the consensus suggests solid top-line growth even if per-share earnings might dip.

On the analyst front, JPMorgan's Kian Abouhossein maintained a Neutral rating on January 8 while bumping up his price target from $750 to $775. That's a vote of confidence in the stock's trajectory, even if it's not a full-throated endorsement.

Now, let's talk dividends. Goldman Sachs currently offers an annual dividend yield of 1.71%, paying out $4.00 per share each quarter, or $16.00 annually. That's not going to knock your socks off compared to some high-yield dividend plays, but for a major financial institution, it's respectable. The real question is: how much would you need to invest to generate, say, $500 in monthly dividend income?

The math is straightforward. To pocket $500 per month—that's $6,000 annually—you'd need to own approximately 375 shares of Goldman Sachs, representing an investment of around $351,806. If that sounds like a lot (because it is), consider a more modest goal: $100 per month, or $1,200 yearly, would require about 75 shares and roughly $70,361 in capital.

Here's how the calculation works: Take your desired annual income and divide it by the annual dividend payment. So $6,000 divided by $16.00 equals 375 shares for the $500 monthly target. Similarly, $1,200 divided by $16.00 gets you to 75 shares for $100 monthly.

Keep in mind that dividend yields aren't static. They fluctuate based on two moving parts: the dividend payment itself and the stock price. The yield is calculated by dividing the annual dividend by the current share price.

For instance, if a stock pays a $2 annual dividend and trades at $50, the yield is 4%. If the stock climbs to $60, that same $2 dividend now yields just 3.33%. Conversely, if the price drops to $40, the yield jumps to 5%. The same logic applies when companies adjust their dividend payments—an increase boosts the yield (assuming the stock price holds steady), while a cut reduces it.

Recent price action: Goldman Sachs shares closed down 1.2% at $938.15 on Tuesday, reflecting some pre-earnings caution among investors.