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 October’s post click here.
And we’re back for another edition of our passive income report!
As far as our monthly updates go: Net Worth, Passive Income and our Spend Reports,
the passive income is probably our favourite.
Sure, the spending report is likely more indicative of where we are financially in terms of how much we need our jobs and work etc. but seeing the passive income grow and slowly replace a larger and larger percentage of our earned income is what really keeps driving us along this journey of investing and financial planning.
This month was quite strong for the markets and as such our portfolio has grown fairly noticeably – that being said it doesn’t exactly have much impact on our dividends received and couldn’t save us from a pretty slow month of dividends.
If you’ve been following along you’ll know that February, May, August and November are slow months for not just us but most dividend investors especially Canadians.
Let’s get on to the numbers:
$498 is our 4th WORST number for the year.
If you refer back to our earlier point about Feb, May, Aug and Nov being our slowest months you’ll likely be able to conclude which 3 months November was able to beat.
This doesn’t weigh down our spirits at all especially now that we’ve come to expect this trend, on the bright side December is one of the absolute strongest months so we’ll be able to bounce back in a major way to end off 2020!
Now let’s take a look at 2020 in it’s entirety to date:
There’s a noticeable drop off from these 4 quarterly payments to the next worst payement that fell in October as the jump goes from $498 all the way up to $705. You’ll also notice the trend of Decembers typically being right up there for the largest month of the year.
It’s looking like we’ll eclipse $8,000 for the year in dividends received which would be a little bit of a let down but after going through what 2020 has brought to the markets we’re thankful to even reach this number.
The 44% year over year improvement is another bright spot for this month as it should mean that we will comfortably be above $500 in November of next year.
The next outlook we like to do is how our next 12 months projects to roll out:
We decided to cut out the high interest savings we’re receiving as technically they aren’t “dividends” so you’ll notice one less row in these tables.
$9,128.38 in projected rolling dividend income is a major comeback from where we plunged to during the initial Covid outbreak that saw our portfolio and dividends take a hit.
This amount of money won’t cover our mortgage payments but it would be enough to cover things like: phone bills, heating, cable and some other odds and ends around our house.
A goal just as I’m sitting here without putting much thought in would be to realize all $9,128 of this projected income and tack on another $900 by early next near to ensure ourselves a real shot of receiving $10,000 in dividends for 2021 which would of course be a first.
That’s all we have for this month.
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.