Where did the Summer go? It seems like I just got home from Nova Scotia and now August is over. Well in that case I thought I would start updating my passive income for each month. This is proof to all the non believers that investing in dividend paying stocks actually works and you can see the income increases as more stocks are purchased and dividends are re-invested. August dividend income isn't the highest, it's about one third of what I normally make in dividend income a month, but it all evens out in the end.
Dividend Income For The Month Of August
Shaw (SJR.B) $15.33
Royal Bank (RY) $54.00
Emera (EMA) $32.50
Total $101.83
Now as the rich people roll their eyes and click the X, I'll show you what my dividend income was two years ago.
Total $0
Now I'll show you what my dividend income was last year.
Shaw (SJR.B) $14.66
Royal Bank (RY) $ 50.00
Emera (EMA) $ 28.25
Total $92.91
All three companies I chose, as a rookie investor I might add, increased their dividend from the following year. To the average person reading this, an increase of $8.92 might not seem that impressive, but that's an increase of 9.6% and I did ABSOLUTELY NOTHING to get it. I was probably eating or on Facebook when the dividends were deposited into my account; it's that simple.
Now that I have $101.83 for doing nothing but being handsome, I'll throw it on the pile of previous dividend payments and let it grow until I buy more dividend paying stocks and keep the cycle going.
Now that I have $101.83 for doing nothing but being handsome, I'll throw it on the pile of previous dividend payments and let it grow until I buy more dividend paying stocks and keep the cycle going.
Stock Market Decline In August?
The stock market plunged? Oh, I hadn't noticed because I was on vacation in early August. What I did notice was that some stocks I had my eye on were on sale so I bought some. I increased my position in Sun Life and bought into AGF management. I wish I had more money to invest, but I had other expenses with the new house. You never win when you play the stock market, but you can make money when you invest wisely. The smart way to spend money is to buy when something you want is on sale, right? Why would it be any different when you are buying stocks. I believe the Intelligent Investor said to buy when everyone is selling so that's what I do and it makes absolute sense. Well enough investment jibber jabber, time to go enjoy my well earned day off and make the most of my four day weekend visiting family.
Have a good weekend, everyone!
3 comments:
This is slightly off topic, but I was wondering if you are going to cover anything on income tax. This year will be the first time I have to fill out my own taxes and I've been searching for a book that reads easily but contains lots of tax tips. The only one I've been able to find so far was targeted towards small businesses. Do you have any suggestions?
You know what Kyle, for the average single person who works full time and does not have rental property, a business, gone to secondary school, or have dependents, there are not a lot of tax tips to learn. Usually a large percentage of things people claim at tax time are usually rejected or it flags them to be audited. If anyone disagrees I encourage them to enlighten us all.
Their are a few things you can claim, like bus passes, registered education classes, charity and so on but that's about it. I will be filing my taxes with turbo tax platinum this year because I have some investment gains and losses as well as dividend income to claim.
I will read up and do a tax post perhaps in the new year closer to Tax time if that will help.
Thanks! I will do some reading as well and report back.
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