What a year it has truly been. A few late dividend announcements has allowed me to conclude that my forward looking dividend income stream has hit a new milestone that going into 2014 – I had no idea existed. Heck, my initial 2014 dividend projected goal was $3,350 which kept being subsequently moved up as the year progressed. You can judge my post by the title, but let’s see what projected dividend income milestone I have reached.
Crushing $5,000 in Projected Dividend Income
It seemed like it was only yesterday when I officially crossed the $4,000 in projected dividend income for 2015. Insanely, it was in September or a full 3 months ago. I was ecstatic for crossing that figure, after all of the capital I have added to my portfolio throughout the year. From all of the frugality rules I live by, as I strive to save 60% of my income each month and even dealing with the endless liabilities of owning my car, and the cash goes out the door to boot. I couldn’t believe it in September when I had officially crushed a projected $4,000 in dividend income.
One comment, on that post, however, resonated with me from our friend My Dividend Pipeline or MDP as we call him. His comment stated somehwhat along the lines of “$4,000 is great, but I think you should go for $5,000” ~ Funny at the time and thought – this guy definitely can crack some jokes.
I thought in my head… no way, another $1,000 added to this goal at a 3.5% rate is calculated out to be $28,571 to be invested to hit $5,000 in projected income. How could I even fathom that in 3.5 months since I crossed the $4k mark? I love challenges, am competitive as hell and thought to myself – should I step into the ring to try this out? When you do the math – that is hard to add $1,000 in new income a year via investing on a moderate salary, let alone in a quarter of that time span. As you can see, I am going for a goal of $5,750 in projected income by the end of next year in my 2015 goals post.
How I Crossed Crushed $5,000 in Projected Income
Not planned, I accidentally started to continue my investing route. The 60% savings challenge kept myself motivated, as Bert also joined in on the action. I began buying up more companies, I was locked, cocked and ready to unload in October. I then dropped in a little and purchased IBM quite a few times, more Mattel and even decided to stop by the mineral/iron ore in BBL. I further purchased more of my Canadian Imperial after performing a brief Canadian Bank analysis over 3 big guys in the industry. All of these purchased, paired up with dividends being reinvested (So powerful!) and also dividend increases – I did it. As you can see at my portfolio page and the snip below (as of 12/19/2014) – I have crusaded beyond $5,000 in income projected for 2015.
What does that even mean? I have $417 per month being paid to me from the soldiers I have put out onto the field. Further, these dividends are being reinvested back into more stock, and given my average portfolio yield is 3.79% currently – this is going to produce an extra $189 per year for me going forward. My dividends are going to be paying dividends, essentially and I love it. The train is moving and the speed and power is picking up. The snowball (fitting because it is winter!) is building up and I can start to see the mound being built. I am very thankful that patience, consistency and persistence has led to this milestone, but not too mention – the motivation to the readers of our blog, including, but not limited to: My Dividend Pipeline, Dividend Mantra, Tawcan, Frugal Family, Captain Dividend – as well as many others. I truly believe, in conclusion of this mark, that you can achieve anything you really set out for. If you write it down and have a plan to reach that point – your desire and passion behind your fire will get you there. The law of attraction is phenomenal with the strength being quite formidable that if we are positive, surround ourselves with the tools to achieve our goals – we can do it. Similar to how Bert saves by simply asking for discounts because he believes and is positive he will win the debate/request (I just saw him negotiate our hotel rates for work down $10 a night today as well – nice job Bert!). I learned this: Thoughts/beliefs that are strong enough to cause you to act on those thoughts/beliefs/goals will open up the door to allow you to take the path to grab the goal you set. Following your dreams, essentially and not letting anything step in the way of that.
Thoughts on this milestone? Are you reaching for and potentially hitting one of your own? Are you surprised by your own actions? Would love to hear where you are all at! Thank you again.