In February, I received over $450 dividends from 23 different companies.
As I always say, it is an amazing feeling to see cash coming to our brokerage accounts for the past work we did.
Even more amazing that the income is growing and it is highly diversified.
I am not a rich person (yet) and I don’t have a job with six figures salary, but I have a dream to become rich and live the life I always wanted.
In other words, I want to be financial independence so I can spend my time for the things that I love to do and living the life with purpose, rather trading my time, limited quantity, for money.
Currently, I am trading my time for money, but I am on my way to achieve my dreams.
I am pushing myself to take steps in the right direction. I always think about how I could improve my income, especially my passive income, so I could start living my dream life at the earliest possible age.
Last month dividend is just a small when looking it as a number. But, it is compounding faster years-over years because I am simply reinvesting the cash and buying more income producing assets.
As a result, next quarter I will be receiving a slightly bigger amount and I will keep reinvest them and buy even more assets.
And, if I continue to do this for a couple of years, then I could easily replace my day job salary with my dividend income.
Meantime, I will need to work for someone for money to meet my needs.
Plus, I will need to make a small sacrifice and delay gratification to focus on my bigger goal of financial independence.
Once I reach the goal, I really hope that my life will be much different.
On this website, I have been documenting my financial independence journey and posting all my financial information because I really wanted to show that anything is possible for anyone as long as 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 most importantly take action 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 $459.59 dividend in February 2019, which is 8.66% higher than the dividend I received in February 2018.
Summing up all the dividends I received in 2019, I came up with $1367.40. One of my short-term goals is to receive at least $10800 dividend income during the year of 2019. So far, I achieved 12.66% of the goal.
Dividend income from Canadian stocks
- CGX – $14.50
- XRE – $10.65
- NWH.UN – $3.33
- NVU.UN – $9.51
- FC – $7.80
- DRG.UN – $3.33
- CAR.UN – $3.33
- REI.UN – $12.00
- ZDH – $12.28
- PWF – $64.95
- BEI.UN – $8.34
- ALA – $12.00
- EMA – $52.88
- IPL – $7.12
- KEY – $6.00
- RY – $98.00
- BMO – $65.00
Dividend income from U.S stocks
- WFC – $6.75
- OHI – $13.20
- KMI – $10.00
- CVS – $7.50
- GIS – $12.25
- T – $18.87
Total dividend I received from U.S stock holdings: $68.57
Total: $459.59
Total dividend I received for year 2019: $1367.40
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 $10600.
One of my long-term goals is receive $25000 dividend income from investment portfolios. I have achieved 42.40% 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.
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