Damn another month has already passed us by, they weren’t kidding when they said time waits for no one. No wonder you hear of people saying, if you haven’t started investing already, start now because that’s precious compounding time being wasted. With current affairs occurring my portfolio is starting to take a pretty good beating, but I still stand by the companies I own and this is why I love investing not only for the long term but also the style of dividend investing. Continue reading
I have been doing some thinking lately and I have come to the conclusion of the importance of consistency. It is an extremely overlook word, so simple to define yet very few people can truly carry it out. I really do believe that consistency is what makes the difference between failure and success. So what does consistency have to do with my monthly dividends income? Well as some of you already know I DRIP all the shares I own, so every time a company’s pays a dividend it gets automatically reinvested. I literally set it and forget it. By doing this I am keeping my goals of actively investing on auto pilot, I am only human and I will go through periods where I am not as constant as I would like to be, but that doesn’t mean my retirement fund has to be. With that being said here is the dividend income that I have accumulated throughout the month of May.
Well with the TFSA contribution room going up to $10,000 I took advantage of new changes with CRA and finally maximized this account. Seeing as how this account was already maxed out before I found out about the increase in contribution room, I was able to deploy approximately $4,500 into a tax sheltered account thereby allowing my freedom fund to compound tax free. With that being said, the company that I purchased adds another utility to my team of passive income earners.
When I think of myself as an investor I think beyond the stock market. I think of it purely as a means of delayed gratification in all aspects of life. As dividend growth investors, when we first start we take our measly dividend payments and reinvest them with the hopes one day our growth will move at an exponential rate. This process will not happen overnight, or even in the next couple years. Nor will it be a smooth ride the entire time, but the fact of the matter is that the perseverance and miscalculations we face only help to enrich our lives and retirement funds as well.