TFSA Dividend Income

At first, when I started investing in the stock market a few years ago, it was more about trying it out and see if it works for me. I was more of a trader and didn’t pay too much attention to dividend income.

Admittedly, I wasn’t happy with the results. At times, I earned some profits and at times I barely make even. There was no predictable income streams.

TURNING POINT!

This is why, I continue to educate myself on matters regarding financial literacy. In addition, I visited personal finance and investing forums and joined their discussion.

Similarly, I read books about dividend investing, watched videos, and followed the strategy from the greatest investor of all time Warren Buffett.

To sum up, I’ve changed my approach and focus only on dividend growth stocks and continue to evolve on my investing strategy.

CONSISTENT AND DISCIPLINE LONG TERM INVESTING!

Generally speaking, I’ve learned to be patient, disciplined and consistent with my investing strategy which leads to steady return of our investments.

Since 2016, I’ve invested much of my time in studying, researching and picking dividend growth stocks that I will buy and hold.

Our goal is to live off with our growing passive income through dividends without touching the capital.

We both have maxed out  our Tax Free Savings Account (TFSA) for 2020 which is $69,500 each plus any gains earned over the years.

Our TFSA Portfolio only consists of Canadian equities. Beginning of this year we have added new securities to our holdings. 

We keep a watchlist of potential companies that we will partner in the future that meet my strict criteria.

If you follow my previous posts, I am not an advocate of Registered Retirement Savings Plan (RRSP). We prefer to hold non-registered accounts after maxing out our TFSA contribution room.

Below is our TFSA monthly dividend income for this year: 

 

                                                                        (Updated: May 1, 2020)

Note: You may have noticed a drop in our monthly dividend income for the month of February in spite of maxing out our TFSA already. We have not sold any of our equities. Instead, we have added quarterly dividend stocks in January for a more diversified portfolio.

Like many long term dividend investors nobody is immune to the market crash that we are experiencing right now. Our TFSA portfolio are down 20% individually as of today.  Meanwhile, as you can see our dividend income are still up for the month of  March as our partnered companies still continue to pay dividends. Here is our updated TFSA Dividend Portfolio.

However, past performance does not guarantee future results. Therefore, dividend income may or may not change for the coming months.

2020 Dividend Income to date: $ 3,827.72

Jan – $ 1,053.96

Feb – $ 840.88

Mar – $ 951.36

Apr – $ 982.52

May – 

Jun – 

Jul –  

Aug – 

Sep – 

Oct – 

Nov – 

Dec – 

 

My Final Thoughts

I will update our dividend income every month and hopefully you will join and follow our journey towards financial independence.

We have reached $10,019.62 of passive income through dividends in 2019 on our TFSA accounts. A great milestone to end the decade for us. 

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PPGal
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This inspire me to track my monthly dividends no matter how small it is. I also like receiving monthly dividends (from REIT and ETFs) and consider buying blue chip stocks. Do you also plan to have a portfolio page on which you’ll show the companies you are currently invested in? Freedomthirtyfiveblog.com has one.

PPGal
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I noticed that your TFSA is earning monthly dividends. From what I observed, most companies hve quarterly dividends. On the other hand REITs and bonds have monthly distribution/interest.

Are there other equities that have monthly dividends which can be a good source of income in retirement?