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.
If you’re interested in seeing February’s post click here.
Welcome everyone, to the March update of our passive income received through dividend investing.
March 2020 was a great month for passive income even though the month was about as bad as we could have imagined on our portfolio values. This month we cracked our top 3 months all time in dividends received!
Let’s have a look at the numbers:
$750 dollars. Nothing to scoff at.
The way we always visualize these little pay checks is in terms of what it would cover in our day to day life. $750 would cover our phone bills, natural gas, electricity, cable, internet and a little bit left over.
These dividends are truly starting to feel like their own source of income, or a part time job contributing to the household at this point.
Next we’ll look at how March 2020 compared to March 2019:
The $749.57 was an increase of 81% over the $413.78 we received March. 2019. And an amazing 412% increase from March. 2018!
Fingers crossed that this trajectory can keep up.
Now onto our rolling 12 month projection:
Another milestone crossed having broken through the $9,000.00 projection. This is still very much up in the air though as we’ve noted in our last post we have already received 2 dividend cuts this year and could very well see more upcoming so we’re happy but not holding our breath that this is here to stay without adding more capital.
As we said in our last passive income report, we wouldn’t mind the markets getting beat up for quite some time, potentially all of 2020 but what we don’t want to see is a hit to our passive income. If we can keep even say 75% of our income through this we would be more than happy.
How are you all coping with what’s been going on? We’d love to hear how everyone else is doing with their portfolios and passive income either below or over on our Instagram @FindependenceCanada
Thanks for stopping by,
FIC.