December 2016. Almost 6 months after I posted about crushing over the $7,000 mark, I have now jumped over the next rung on the projected dividend income high jump bar. It couldn’t have come at a better time, when weeks are frustrating with traffic pile-ups from snow, working later hours for “the man” and the holiday season upon us. To say I didn’t think I was going to reach this goal would be a lie, I knew I would get here. I just knew it. Luck has quite a bit to do with it, but I had faith and confidence in the actions I was doing, that I would get to the new height. In this post I will share what I did to arch the back over the $8,000 in projected dividend income bar!
Crushing $8,000 in Projected Dividend Income
What was the final trigger? It seemed like just yesterday that I crushed $7,000 in projected dividend income. Friday, in the office, I had recorded my reinvestment from my T. Rowe Price mutual fund – PRFDX and Bert shot me a message that Norwood Financial (NWFL) increased their dividend a bit over 3%. That was enough to make it a round $8,000, literally. Then, one ETF announced their December dividend amount, and I calculate that dividend on a rolling 4 quarters. Therefore, once i rolled this quarter in, it actually put me at $8,008 before night’s end!
Bert was in the office, and it was awesome for him being there, as we gave each other a high five. Something tells me he has a milestone he may have crossed as well, I’m sure he’ll write/tell us about it. I am very excited, as this milestone was my 2016 goal and after failing last year’s goal – I was even more determined for 2016 to cross it. Last year I wasn’t able to, due to a few deep cuts – Kinder Morgan (KMI), being one of them. As long as my dividends stay strong with no changes – I’ll remain over $8,000. Plus, I still have half a month of dividend reinvestment to experience. Therefore, I am actually looking to try and pad the stats here.
Crossed crushed $8,000 in projected income
There are many things that led me on the road to over $8,000. Honestly, I am not exactly sure on where to start, but I will try. I will also try to focus on 2017 items that has led me here; with a few bigger picture areas. To begin, the rollercoster ride we had post election did not deter my investing strategy. I would say that staying consistent and turning down the noise, not selling out of my portfolio before or after like others, has helped me cross my goal, no doubt. You can say for that reason, I do not try to time the market, as we do not know all of the information that others closer to the heart of the matter know. Sure, we can argue the market has all information baked into the stock prices and we have an even playing field, but that is to be truly determined.
There is more, however. It also comes down to just really feeling & digging in on why EVERY DOLLAR COUNTS and another shameless plug to – why you need to side hustle, and all of the other intense articles that have been written. Just when I thought I was focused on my strategies, I went deeper and focused even more than I thought was needed or sincerely, thought was possible. Then, I was also heavily aided by my new tax-investment strategies, which in fact, kept me very consistent in the market, as well as injected super-speed to adding dividend income, each and every month. I wrote an article on what it feels like 4 months later from maximizing tax-advantaged investment accounts and the ultimate impact to my forward dividend income.
In total, thus far in 2016, I have added over $1,500 in new income from all of my investment & reinvestment activity during the year. The wild thing is – anyone can do it. I know everyone can do it, because if I can, then YOU can. Also – here is the snippet from my spreadsheet that I use for tracking:
final thoughts on $8,000 in projected dividend income
So here I am, it’s a Saturday morning on the 17th. What am I thinking now? Well, funny enough, it is about my 2017 goals and why I am so excited for that year. So many new opportunities are unfolding, that I simply cannot wait for the new year! Funny how the nostalgia of it really impacts you. With crossing $8,000 in projected dividend income, I have my eyes set on establishing the goal for 2017, which is not yet final. Don’t worry, you’ll know the goals coming forward very soon.
In the end, how lucky of a position I am in? I have fricken $8,000 in forward dividend income! I seriously, cannot believe it. 7 years ago in 2009 is when I made my first investment. 7 years later I have made it another step closer on the pursuit to financial freedom. $8,000 in projected income is $667 per month, which represents approximately/over 70% of my house expenses. Cannot believe it.
How are you doing on your final countdown to your goals? Thoughts on the $8,000 figure? What’s next for me? Is it $10,000? Any suggestions or adds for me or critiques? I would definitely appreciate it, as I want to be better and if you have something that can help me, then please share! I hope everyone is staying warm and crushing their own goals – whether that be dividend income, work goals, family & life events or even just getting through the year. I hope everyone is happy and enjoying the life that they are living and I am very thankful for what is in my life right now. Thank you for reading, good luck with the end of the year and talk soon!