Passive Income Report – October 2020

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 September’s post click here.

Welcome back all!

Tonight we’re here reporting back to you on our passive income journey while watching the US presidential election play out on our TV.

I don’t actually have a huge interest in who wins as there are clearly pros and cons to both sides but the fact that the vote is nearly a 50/50 means that there’s going to be huge outcry no matter who wins so that will be the more interesting thing to follow for myself.

Let’s get on to our topic tonight and that is, of course our favourite thing: passive income.

October was another fairly volatile month – though it actually seemed fairly tame given how much of a roller coaster 2020 has been so it was actually an easy month to sit and hold through.

Our dividends received were right in line with where we’ve been these past several months as you’ll see below:

$704.75 puts us more or less in line with 4 of the past 5 months. We’re getting to a point where we’ve got good balance in income from month to month and the best part of that is that we don’t actually make investment decisions specifically for that purpose, it’s happened organically.

It’s actually the 7th best payout of the 10 months we’ve finished this year so the fact that it could still pay a good chunk of our bills is definitely a positive sign that is exciting for us both.

Next we’ll look at our year to date numbers:

So there’s a couple of ways of looking at this, first off a 7% gain isn’t exactly setting the world on fire but on the flip side it is still a move in the right direction – and an increase of $52 for a single month is still nothing to scoff at either.

These are the moves we’ve been expecting to start setting in for a while now as our portfolio has been growing and our contributions just don’t hold the same weight that they used to.

Next on to our projected income for the next 12 months:

Yet again this is my favourite indicator of them all, the total income here is basically what our self-made pension would pay us if we stopped working today.

Since our goal is to retire comfortably at some point prior to 65 this figure will need to grow significantly but also shows that we’re on the right path.

Since we are now 31 and 32 years of age we’re optimistic that in our 40’s we will be in a very comfortable place and will have set ourselves up for a later years to do more of the things that we enjoy.

Of course, life can always throw you curveballs along the way but for now things are starting to move in the right direction.

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 
Instagram @FindependenceCanada

Thanks for stopping by,

FIC.