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. (More on our goals and the tax advantages of Canadian dividends in future posts). 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.
Click here to see last month’s passive income report.
Welcome all to the January 2020 edition of our passive income reports!
This was a really strong starting point to our year and hopefully is a sign of things to come for us, let’s take a look at how things went:
OH THE HUMANITY!
There I was tallying up our totals and it was looking like a sure thing that we’d finally hit our first $1,000 month, but alas, it wasn’t meant to be… yet. It’s still a really great income month for us and for that we’re thankful but I can’t help being a little bitter to come under $4.00 shy of reaching our first 4 figure month of passive income.
Next month likely won’t be this high but here’s hoping march can be the one where we finally eclipse that milestone.
Let’s have a look at how we’ve faired on a YoY basis:
A YoY growth of 300% is still crazy for us to think about, again, we know this has to slow down but for the time being continuing to crush our previous high’s is what is giving us the confidence to keep piling money into our passive income portfolios.
This passive income for January would be enough to cover most of our household bills excluding the mortgage payment and is just another sign to us that we’re making good choices and moving in the right direction.
It’s crazy to think that this one month has already surpassed 20% of our 2019 passive income total!
Next let’s have a look into the future, this table is the projected income on a rolling 12 month basis for all our accounts combined:
We’re now projected to bring in $600 more than we were in our last months update where we had a $7414 projection. If this number here holds true and we’re able to keep adding funds to our portfolios we should be able to almost double last years total in dividends received, which is definitely a goal for us at this point.
I have to admit that we can’t take credit for all of this gain, as a lot of the progress comes from these great companies like our Canadian banks, Enbridge, Canadian Utilities etc. all doing their part and raising their dividends year over year. It sure feels good to own some of these great companies that reward you for being a loyal shareholder year after year after year.
That’s all we’ve got for you this month, hope you’ve enjoyed this instalment of our passive income reports and continue to tune in moving forward.
If you have any questions or comments feel free to leave them below or over at
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Thanks for stopping by,
FIC.