Passive Income Report – August 2022

Throughout these updates we will go over the previous month’s dividend income, as well as our rolling 12 month projected dividend income and our progress towards our goal of having $50,000 in annual passive income. For reference, I received my first ever dividend payment in December 2017, and I immediately realized that they needed to be a prominent part of our any investment strategy.

If you’re interested in seeing July’s post click here.

Welcome back for yet another passive income report! This month we’re going to recap the month of August.

August was a busy month in our personal lives, we enjoyed what is likely to be the last of our summer weather and took full advantage by being out and about with our children and playing all of the sports etc. that we could.

During this month we actually had very little interaction with our investing accounts compared to a normal month – even though I don’t usually buy and sell entire positions very often I still like to keep up to date with market news and numbers almost daily but that didn’t happen this month.

The good news? Whether we watch our investments or not, our steady stream of passive income keeps landing in our accounts on schedule for us to reinvest and at some point in time these little paychecks will be large enough that they will actually fund our entire lifestyle with very little management from us.

Now, let’s get into some numbers:

Dividends Received: $1,209.46

Now, if you’ve been following along recently you’ll know that this $1,209.46 is a smaller sum of money than we’ve been receiving in most month’s but what this does signify is that our weakest quarterly months of Feb-May-Aug-Nov are now into 4-digits! What this means for us is that we are now going to be receiving over $1,000 every single month of the year which is a huge milestone for us.

Our top 5 payers for the month were:

1) British American Tobacco (BTI)
2) Royal Bank (RY.TO)
3) TD Bank (TD.TO)
4) Bank of Montreal (BMO.TO)
5) Emera (EMA.TO)

Next we’ll get on to our year-to-date numbers:

Dividends Received YTD: $10,539.81

August’s payouts of $1,209.46 now pushes us across the $10K threshold, a number we didn’t reach until December of last year – achieving the same milestone in 8 months this year just highlights the dividend snowball putting in good work.

The payouts this month also showed an 80% increase YoY from August 2021.

Now, that’s enough of where we’ve been let’s look at where we’re going:

Dividend Projections: $20,562.52

Our new annual dividends received on a forward moving basis are $20,562.52 and this is the first time that we’ve eclipsed the $20k mark so it’s yet another milestone along the dividend investing journey.

There’s a lot of chatter about total returns vs. dividends online and while I wholeheartedly agree that total returns matter there is a lot to be said for the emotional aspect of investing and all of these milestones that one is able to accomplish over the course of building out a dividend portfolio are great incentives to keep contributing monthly and also to keep pushing forward during hard times – at least for our household. These frequent little “wins” are a big reason why we remain so motivated to contribute to our brokerage accounts over and over again month after month.

That is where we’ll leave off for this month, if you have any questions or comments feel free to reach out on our social media pages:

TWITTER: @FindependenceC1
INSTAGRAM: @FindependenceCanada

Thanks for stopping by,

FIC.