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 my any investment strategy.
In July the stock market was more or less in a holding pattern for us, while we did see some good and bad days for our individual stocks it just seemed like every action was met with an equal and opposite one. Which is fine – we are in this for the passive income more than the capital appreciation after all.
The records that we hit in June were never going to be replicated in July, as semi annual pay out funds in our portfolio of course only pay out June/December so those months by default “should” be our peaks moving forward. That being said we did still manage to take home a very solid $361.17 in dividends!
Let’s take a look at how these numbers broke down by account for July 2019:
Some of the companies we received these dividends from are: Bank of Nova Scotia (BNS), Pizza Pizza (PZA), CIBC (CM), Toronto Dominion (TD), Transcontinental Inc. (TCL.A), Interpipeline (IPL) and Rogers Sugar (RSI).
Now this is perhaps the best table of them all, this is what our accounts are projected to bring in over the next 12 months rolling and we feel as though this is the part that really validates this investing strategy. Even as we had a stagnant month for growth our projected passive income has increased from $5688.20 to $5917.99 all without us having to really add in any effort or funds.
It truly is key to note here that everyone has a different definition of what “a lot” is, for some $1,000 is, for others its a number like what we’re at and people further along their journey’s could already be bringing in north of $50k per year passively. The trick is to use the people further ahead of yourself as motivation and know that by keeping consistent you will continue to make these baby steps month over month and they will add up over time. In our case it wasn’t long ago our projection was $1,000 but we’re hitting another milestone consistently and we’re starting to see that this compounding is quite the force in its own right.
Now, let’s compare July 2019 to 2018:
The thing that shocked us here was the whopping 1,282% growth YoY in the month of July, that’s our largest growth year over year yet! If we wanted to we could log in and check out what our next months numbers will look like as well but we prefer to be surprised by the results – it makes writing these posts a lot more fun.
That about wraps up our passive income report for the month of July – 2019. If there are any questions out there feel free to drop them below. We’ve also been receiving quite a few questions to our inbox on instagram (findependencecanada) so if you’re not following us there go ahead and do that, it means a lot to us when we are able to engage with other members of this community.
Thanks for stopping by,
FIC