I received almost $500 dividend income from 22 different income sources last month.
Feeling so good to see cash filling-up in our accounts for the work did in the past. Sometimes feeling guilty for receiving money for doing nothing.
The income is highly diversified and growing years over years. Moreover, it is a much safer route than relying on a single income.
Every month when I see my previous months’ achievements, I feel so confident about my financial future. I also feel that I am stepping forward in the right direction to reach my financial freedom.
Of course, I have been making a small sacrifice and delaying gratification to focus on my bigger goal of financial independence. Once I reach the target, my life will be much different and joyful.
Majority of my investments are in the Canadian market. For the last couple of weeks, TSX is doing very well, and it has been setting a new record for the last couple of days.
As a result, my net-worth is getting a big boost recently. If this trend continues, then I could hit a new milestone by the end of the year.
Besides, I took advantage of this low rate environment and made a good financial move last month, which to boosts my cash flow significantly. I will discuss it the upcoming days.
On this website, I have been documenting my financial independence journey and posting almost all my financial information because I wanted to show that anything is possible for anyone if they have a right mindset, and also I love to motivate people to start thinking about their dreams and life goals.
Please understand that if I can do this with my moderate salary, then you can do it too. All you need to do is find your life purpose, dream big, set goals and take necessary actions to get there.
As always , I strongly encourage readers to consult a qualified financial adviser, consider potential tax implications and to do their own proper due diligence before taking any information from this website.
Let’s get back to the numbers.
I received $497.41 dividend in August 2019, which is 7.91% higher than the dividend I received in August 2018.
Summing up all the dividends I received in 2019, I came up with $6762.26. One of my short-term goals is to receive at least $10800 dividend income during the year of 2019. So far, I achieved 62.61% of the goal, and it seems like I am on track to reach this goal.
Dividend income from Canadian stocks
- CGX – $15.00
- XRE – $9.60
- NWH.UN – $3.33
- NVU.UN – $9.51
- FC – $9.36
- DRG.UN – $3.33
- CAR.UN – $3.45
- REI.UN – $12.00
- PWF – $68.33
- BEI.UN – $8.34
- ALA – $12.00
- EMA – $58.75
- IPL – $7.12
- KEY – $30.00
- RY – $102.00
- BMO – $66.95
Dividend income from U.S stocks
- OHI – $13.20
- KMI – $12.50
- CVS – $7.50
- T – $18.87
- ZUD – $0.61
Total dividend I received from U.S stock holdings: $52.69
Dividend income from my International dividend portfolio
- ZDH – $25.66 Total dividend I received from my International investment holdings: $25.66
Total: $497.41
Total dividend I received for year 2019: $6762.26
Please note that I do not convert dividends received from U.S stocks to Canadian dollar, and I use a 1 to 1 currency rate approach to keep the math simple and avoid fluctuations in my dividend income reports due to changes in the exchange rate.
Estimated passive income
For those new to this site, the Estimated passive income is the income I estimated to receive in a year based on my current investments holding and their distribution rate.
My Estimated passive income is currently at $11295.
One of my long-term goals is receive $25000 dividend income from investment portfolios. I have achieved 45.18% of my goal.
I am very happy with my results and achievements so far. I hope I am moving in the right direction toward my long term financial goals.
Learn about finance, live within your mean, save and invest in high quality assets will help you reach your financial goals, and the process is much earlier than you think.
Thank you so much for your great support, encouragement, and being in my financial journey.
Really like coming to the website to check up on your progress and utilize some of the information here to help me form my own plan.
I’m interested in Brookfield Property Partners (BPY.UN). Where do you hold that? It pays a dividend in US dollars but is a TSX stock. I’m trying to research the tax implications (if any?) for a holding in this. Could you provide some insight?
Hello K.C,
Thank you for stopping by,
I hold all my Brookfiled family stock and units (BAM.A, BIP.UN, BEP.UN and BPY.UN) in my TFSA accounts to avoid the tax headaches. It is really hard to file tax if you hold them in any non-registered accounts. I guess BAM.A is ok to stay in non-registered account, but LP units should be in held in TFSA (or other registered accounts) .
DisclaimerPlease note that I am not a tax expert or licensed financial advisor. Please discuss with a qualified professional before make any financial decisions.