Good morning readers,
I can’t believe it’s only been two months since I started receiving dividends from having the foresight to invest in dividend growing companies. It’s been an eye-opening experience of how an enormous part of wealth is built in America, Europe and many other places.
Plant Your Seeds NOW
I’m deeply grateful that I’m lucky enough to have everything I need and am able to put away a good portion of my funds into the stock market to act as little income soldiers. I look at every dollar I funnel into these dividend companies as little soldiers who go off and return every month or every quarter with some money that I can reinvest into my dividend machine, ultimately allowing me to achieve financial independence at a relatively young age.
As is said quite often when referring to investments & which I find to be abundantly true despite my young age and only just having entered the stock market,
“The best time to plant a tree was 20 years ago. The second best time is now.”
May 2015 Dividend Income
|Tax-Free Savings Account|
|Non-Registered Taxable Account|
So there you have it… $43.03 in monthly dividend income for May. I just opened my taxable account recently, and I need to have $10, 000 in it by September or will be charged a fee. It’s unfortunately because they had announced an increase in the TFSA contribution limit which I’ll have to wait now to take advantage of.
Going forward, I’ve decided that I’ll put the higher yielding stocks into my TFSA and the lower yielding, higher growth ones in my taxable account. I currently have a couple great stocks in my TFSA which I’d like to have in my taxable account but we’ll see what I can figure out with that.
In any case, my portfolio isn’t too large for now, and I still have a decent amount of capital to allocate, but I’d like to take things a little more slowly, and buy more well-known companies.
I added about $18 or so to my monthly income considering I purchased mostly monthly-paying dividend stocks, so that will be helpful going forward in achieving my goals. It’s also really nice to think my monthly cell phone bill is paid through dividends now, as I pay $43 with my tax included for my phone with Fido.
Total 2015 Dividend Income
In total yearly dividend income for 2015, I’ve now totaled $68.00 in dividend income, while I have a goal of reaching $500 before the end of the year. It’ll be a grind to get there but I believe I can accomplish it still. Really wishing I had Jan, Feb & March to back me up here but I’m just glad to have begun my investing career! $500 here we come!