October 2017 Dividend Income Update

October 2017 Dividend Income Update

Welcome to my latest dividend income update.  For a change this update is right on schedule!

For those of you new to these posts on my site, every month I discuss our approach to investing focusing on Canadian dividend paying stocks.  We believe buying and holding a number of Canadian dividend-paying stocks in our tax-free (thanks TFSA) and non-registered accounts will, over time, provide some steady monthly income for future wants and needs in retirement.

Thanks October for another healthy dividend raise (while we spent half of this past month in beautiful Portugal on vacation).

Lisbon city view from Castelo de S. Jorge (St. George’s Castle).  Perched atop one of Lisbon’s main hills, the castle provides a majestic view of the city centre and surrounding areas.  It was the home of Portuguese kings centuries ago.  The castle took on a more important role from 1580 until the start of the 20th century as an important military command.  

Duoro Valley Portugal

Our view from a Quinta (winery estate) in the Douro Valley during some wine and port tasting one morning recently.  (Yes, in the morning.)  For centuries, wine and port have been made here.  In fact, the Douro Valley Wine Region is the oldest demarcated wine region in the world.  The river has carved deep valleys out the land and for hundreds of years man has transformed the rich soil into millions upon millions of planted vines.  The spirit of wine and port making has been with some Quintas for generations.

Taken along the shores of Gaia, across from Porto.  Boats line the harbour ready to deliver wine and port to the masses.  Just behind us we visited the port cellars of Gaia for the day, including Croft, the oldest of them all. 

Thanks to similar dividend increases this year (20 other stocks we own increased dividends so far this year) we’ve almost now assured ourselves of passing this target later this year – earning more than $15,000 this calendar year from Canadian dividend paying stocks held in our tax-free and non-registered accounts.  To put that income in perspective, we believe that income when we retire will cover the following expenses as long as we live without spending the capital until we need to:

  • Home property taxes (nearing $350 per month, estimated closer to $4,200 per year in 2018)
  • Home utilities (heat, hydro, water, internet, other; between $600-$650 per month, upwards of $7,800 per year)
  • x1 car insurance (currently $60 per month, estimated $720 per year)
  • Fongo Home Phone (currently and just $5 per month for home phone, about $60 per year)

For sure, we can’t live on that income alone since we have lots of other expenses that need to be covered in order to retire eventually.  However, we’re working hard on saving and growing our portfolio and our capital is working hard too – as evidence in these income updates.

Stay tuned for my next dividend income update in November and thanks for reading.

Mark Seed is the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've grown our portfolio from $100,000 to well over $500,000. Our next big goal is to own a $1 million investment portfolio for an early retirement. Come follow my saving and investing journey by subscribing to my site. Delivered by Subscribe Here to My Own Advisor

16 Responses to "October 2017 Dividend Income Update"

  1. Great looking trip Mark. We saw some of that April last year!

    Attaboy on the dividend progress and your call that you’ll surpass your 2017 target.

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  2. Those are beautiful pictures, I hope to go to Portugal one day. Congrats on the great dividend income this year so far, more and more of your expenses will be covered. Hope to be at $15K in a few years myself 🙂

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  3. Great looking photos. Thanks for sharing. Keep collecting those dividends stocks while you work, sleep and go on vacation. You just have to love the power of passive investing. Keep up the good work.

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  4. Beautiful pictures Mark. We’ve only visited Portugal on our cruises but we are looking into it for our winter getaway. Will be stopping in the Azores in April. Great progress on your investing journey; congratulations!

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    1. The Azores are supposed to be beautiful, unfortunately we didn’t have/make time to get there this trip.

      Thanks for the encouragement – we are slowly but surely getting there.

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    2. Yes, great pictures Mark. I have seen some decent deals for Azores available on places like travel zoo.

      Same here on Portugal Gary. Really liked Sintra and Pena Palace. We did stop in the Azores too – Ponta Delgada. Some beautiful vistas but can be spotty weather but worth trying an excursion-fire lake etc. No beaches though. Weather varies a lot through the island(s), overcast and rain isn’t uncommon.

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  5. Looks like nice country.

    On the financial side, after much thought and pondering, I decided to pull $400K out of the market and begin to build a GIC ladder. With just the two of us now there is no requirement to leaving it all in the market. Still have a sizable chunk in but the thought was to get some out that will not be subject to any correction. Those funds combined with our pensions and TFSAs will be more than enough so why continue the risk. Surprisingly, it felt good to sell.

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    1. Sounds like a great decision for you Lloyd. Now I see how it ties into your comments on the other thread. We keep a large chunk in bonds/GICS/cash for the same reasons.

      Reply

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