It seems like it was yesterday that I was bringing in the New Year while snoring on the couch and now January is already over. The last few weeks I have been very busy with my new job but now I’m ready to rock and roll with new articles and ideas coming your way. My favourite posts on The Loonie Bin are my monthly dividend income updates. Not only are they proof that my dividend strategy is working, but it’s a just a great way to document my increasing income over the years.
I remember when I first started out investing on my own, my dividend income for January was a whole $85 (you have to start somewhere, right?!). Looking back at my dividend income for January 2012, you can see that I had $440 deposited into my trading accounts. After tallying up the numbers and entering the data into my spreadsheets, I am glad to report my dividend income for the month of January 2013 is:
Thanks to many generous dividend increases in 2012 as well as my purchase of IGM shares during a dip, I was able to increase my dividend income for January by $87. I’ve been working for my money since I was 14 and now it’s a FANTASTIC feeling to have my money working for me. I just wish I had someone show me how to do this when I was younger! As long as I keep investing my money in established companies that have a proven dividend growth history, then I’m well on my way to a healthy financial future.
Yearly Dividend Income
As it stands right now, I’m on track to having a total dividend income of $4550 according to my spread sheets. That’s not too shabby considering I still have to make my TFSA contributions for 2013 and still have dividend income that needs to be re-invested. I set a crazy goal of $6000 in dividend income with Liquid, a fellow blogger over at freedomthirtyfive after I posted my 2013 financial goals. I’m not going to make any hasty investing decisions in order to reach that goal, but I will put a solid effort to get as close to it as I can.
With January over, I’m hoping for some upcoming stock market dips. The band-aid that was put on the U.S debt ceiling problems will be peeling off any day now and hopefully we might see some market turmoil from the aftermath. Until then I’ll be contributing to my TFSA and then buying some Canadian stocks when the time is right. There should be some potential dividend increases coming up in the next few months so I’ll be ready to share the good news with you.
Until next time, may your dividend income always increase!