As a dividend growth investor seeking early retirement, I must keep track of my monthly progresses to make sure that they are in line with my expectations.
For my 45th birthday (or for 2026), I want to be able to be free from the rst race. For that, I will need my house to be fully paid by 2020. I will also need 15,000$/year in growing dividend income and 15,000$/year in online passive income.
It’s will be a long but fun journey! I’ve been into it for almost two years already and I can tell you that I’m proud of what I have achieved.
From being an endebted guy with more than 34,000$ in personal debts, a mortgage of 176,000$, no savings and no passive income, I’ve been able to bring down my debts to 8,000$, my mortgage to 144,000$, my savings to 48,000$, my dividend passive income to 1500$/year and my online income is following the same path too!
Not bad huh?! When a man is dedicated to something and when he knows how to realize his vision, he’s unstoppable!
These reports are my favorite time of the month. Let’s see how much I’ve made in june 2015 :
I’m mad! I have more than 8000$ to invest but it is stuck in a transfer between two of my financial institutions. It’s in RRSP and these transfers take forever. The founds haven’t been withdrawed from the originating account as of yet so I’m not about to see my brokerage account credited.
June offered interesting opportunities that we haven’t seen in a while for dividend growth investors like me. But once again I couldn’t seize them because of a lack of cash! It’s hard to see opportunities passing without being able to seize them while I was seing my fellow dividend growth investors being super agressive and making multiple buys. I could have used my personal margins but… I don’t want to start doing that. I’ll maybe do it when we’ll see a major crash because in these rare moment you can increase your total return by a lot but then again… who’s able to say when the bottom is the bottom?
Anyway, june as been a solid month in terms of dividend income for me. A total of 177,25$ were deposit in my brokersge account and added to my account balance for future reinvestment. That’s money making money! And all those dividends will just make more money over and over again! That’s the compound interest effect in action!
I could withdraw and spend that money but to be able to reach my plan, I must reinvest all those dividends for a period of 12 years! Twelve years is not a lot and I could achieve a better income and better success by reinvesting those dividends for a longer period of time but… we have to fix a date somehow and mine is 2026.
Online passive income
While I’m building dividend income, I’m also building online passive sources of income. It took me while to understand how to monetize my work but I feel I now know enough to pimp that income until it reaches summits!
I expect that income to grow to at least 15,000$ per year by 2026. But I know that I could bring my online passive income to 15,000$ within a year with some solid hard work. Many niche site builders have done it and except for the lack of time, I don’t see any reasons why I couldn’t.
Unfortunately I really don’t have a lot of free time since I changed job. I have to bring job’s home and it takes all of my brain energy plus it stresses me out a lot so I need more rest than I used too. I’ve also been fully invested in renovations for the past couple of months. I do everything by myself with the occasional help of a friend. It takes forever and I hope to be done soon because I really need to work on my sites.
June has been another solid month in terms of online passive income and it has also been an interesting month for my affilite marketing progresses. In total, one of my sites has generated 10 sales. Unfortunately they were not big sales but I does work and that’s the important thing.
In total, I made 156,36$ from ads and 8,82$ from seven (out of 10) items sold from affiliates links. I guess the rest (3 sales) will be credited in july.
That’s 165,18$ and combined with my dividend income, that’s 342,43$!!! A car payment again!
How would you like to get an extra 300$ per month? I’d take it anytime!
Even for someone who doesn’t have the plan to retire early but would need some extra money every months, these are sounds strategies to achieve an income goal and it doesn’t require to take a second job. It requires only patience and dedication!
Six months have passed already. Time flies but there’s still six months to go.
My goal is to reach 2000$ in forward dividend income by the end of 2015. It’s a goal I’m likely to be able to achieve. With 8000$ saved to invest, another 1500$ currently in an index fund, another 1000$ already in my brokerage account, dividends to come and future savings along the way, being able to buy 500$ in future dividend income is almost like already achieved. I only need to buy stocks of great companies trading at fair value and things will go round!
I’d also like to see my online income average at least 100$ per month every month. I’ve already mentionned it but most of my online income is derived from one niche site who’s targetting a seasonal subject so at any moment my income could drop. My other sites are bringing in some income too but never like that site who’s ranking in the first page (and often as the first result) for more than 37 long tail keywords plus countless other keywords that I haven’t even targeted.
I’m in the progress of building another site like that one but it will take me months to be able to rank it and it’s not ready to be monetized yet. I still have a lot of work to do on it in terms of research and writing and in terms of design. But, keywords have been found. I know that the potential is high (more than 9900 unique visitors per month for my main keyword) and that competition is medium to low. Some governmental sites will be hard to outrank but it’s achievable and I’ve done it with my other niche site.
Compared to my current niche site making more than a 100$ per month and who was tarteging a 1500 searches per month keyword, the potential is huge!
Time will tell! Until then keep investing my friends!