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 May’s post click here.
Month 7 of 12 is in the books and its been another productive one for us.
We’ve already cruised past our 2019 total for dividends received, we’ve started on a new endeavour searching for land to purchase oh and we threw a wedding into the mix as well just to keep things interesting. That’s right… Mrs. FIC is officially Mrs. FIC now!
Aside from July being great for us on a personal level it was also a great month for us investment and passive income wise as well, we were able to double up our monthly income from July of 2019 which we didn’t expect coming into the month.
Let’s have a look at how the month played out:
$792.24 is the 4th best month of the year for us but it also would have been the best month of 2019 for us. Probably even more important than the actual total this month was the fact that we didn’t receive any dividend cuts over the month and that hopefully the worst of the economic hit has been felt so we should be safe(r) moving forward than the past few months have been.
Next we will have a look at our YTD earnings:
We’ve got 2019 beat by $150 with 5 months left to go. There’s some potential there to double our last year but that’s unlikely at this point. We’ve still got that $16,000 cash position left in one of our RRSP’s and if we were to drop all of that in immediately we could make it but we’re only going to deploy those funds in the event of a significant pullback in our favourite stocks. It’s always nice to have a little dry powder sitting ready.
Also worth noting that July 2020 beat out July 2019 with an over 100% increase.
12 month rolling projection time:
Finally heading back in the right direction, these little dividend cuts had been getting annoying. After eclipsing $9,000 in projected income early on in the year and then receiving a handful of cuts and seeing it drop as far as it had this forward momentum is a welcome sight.
We did put a tiny bit of money back into the market, mostly just reinvesting our dividends but nonetheless it’s progress.
The main objective for the rest of the year is to ensure this number grows month over month from here on rather than any larger target that we feel pressured to get to.
Our 24 dividend payments received in July:
That about does it for this months breakdown. Stay tuned to this blog as we have some exciting new topics coming up! We’re going to be doing some posts regarding real estate investing, specifically our search for vacant land as well as our small dabble into the speculative stock investing world – namely mining and exploration metal companies so keep an eye out for these topics and more!
Remember that we are just documenting our investing journey and sharing our triumphs and mistakes along the way, this isn’t any form of advice or recommendations so please consult a professional before investing your money!
If you’ve got any questions or comments for us leave them below or over on our
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Thanks for stopping by,
FIC.