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 months update.
February, May, August, November are noticeably our slowest months still.. that being said they are improving for us. We’ve essentially shut down contributions for the rest of 2019 so we weren’t and aren’t expecting these months to really pick up for quite some time.
Let’s take a quick look at those November numbers:
This $345.26 was paid to us by our dividend growth stocks and high interest savings accounts.
Some of the companies we received dividends from this month were:
InterPipeline
Pizza Pizza
Artis REIT
Laurentian Bank
Canoe Income Fund
Apple
AT&T
Bond ETF’s
Of this list the only stock we have up near the top of our list to add to at the present date would be Interpipeline, we love its security, yield and overall company valuation at this time and are hoping these prices remain into the new year so we can double up our positions.
Now let’s take a look at how November stacked up against last year’s numbers:
298% growth is still phenomenal and would definitely already help us pay bills if we had the need to start pulling from these funds, for $350 we could pay our phone bills, cable, internet and gym memberships (which reminds me stay tuned for our budget update coming out in a couple of days).
Now the final table we’ve prepared for this month, and arguably our favourite to look at! This one is our projected passive income over the next rolling 12 months and is the baseline number we use to determine how close we are to sustaining a retirement.
A total of $7137.51 puts us holding steady at about 14% of our goal to receive $50k yearly in passive income, so while that may not seem like much the rate at which we’ve been able to grown this up to this point has left us optimistic.
That’s all we’ve got for our November passive income report, if you have any questions or comments feel free to leave them here or over on Instagram @FindependenceCanada and we’ll be sure to get back to you.
Thanks for stopping by,
FIC.