Our 2021 DGI TFSA Portfolio

Annual goal is to maximize the contribution limits of our TFSA beginning of each year. We aim to contribute the maximum allowable limit every first week of January.

Here are the TFSA contribution limits by year since it’s inception.

  • 2009 – $5,000
  • 2010 – $5,000
  • 2011 – $5,000
  • 2012 – $5,000
  • 2013 – $5,500
  • 2014 – $5,500
  • 2015 – $10,000
  • 2016 – $5,500
  • 2017 – $5,500
  • 2018 – $5,500
  • 2019 – $6,000
  • 2020 – $6,000
  • 2021 – $6,000

Total contribution room = $75,500 

If you are a Canadian and haven’t contributed to your TFSA since it’s inception in 2009 you are eligible to put the said amount of $75,500 anytime from today till the end of the year. 

You can use your allowable contribution to invest in a regular savings account, HISA, GIC, bonds, mutual funds, index funds, ETF, and stocks. These are among the investment vehicles that you can choose from. Overall, the choice comes down to your personal goals, age, and risk tolerance. Personally, my wife and I invest in dividend paying growth stocks.

Here’s a quick glance of our 2021 DGI TFSA portfolio.

 

My TFSA portfolio as of the time of update has a projected annual dividend income of  $4,086.40.

         Updated: June 3, 2021

 

My spouse TFSA portfolio has an almost identical projected annual dividend income of  $4,081.59.

2021TFSA Projected Annual Passive Income

This brings to a combined annual dividend income of $8,167.99. That’s about $680.66 monthly or $22.37 a day of passive income while we sleep from our TFSA accounts alone. At this juncture, it isn’t a life-changing amount and far from being financially independent. However, it’s invigorating to see that we are receiving passive income even if we work or not.

I will aim to update our projected annual dividend income monthly. Here’s the link to our past and current TFSA dividend income and my live non-registered account WS Trade DGI Portfolio.

However, this can only be achieved if these key factors remain the same:

  1. Holding these dividend paying companies throughout the year and beyond.
  2. All above listed companies continue to pay dividends at its current rate.
  3. No reduction and suspension of its dividend payout.
“But here’s the kicker”

It gets more interesting! First of all, we are still working and retiring is a couple more years down the road hence we don’t need to withdraw these passive income. Secondly, we are reinvesting all the dividends we received regularly to any undervalued companies in our portfolio every month. Finally, since we are partnering and building a portfolio of dividend growth companies, there’s great possibilities that many of these companies as long as they are profitable, will continue to increase their dividend payout this year. Therefore, our actual annual income would probably be higher (although there is No guarantee that companies will increase dividends) than our projected annual income.

My Final Thoughts

Just like the story of the rabbit and the turtle we all familiar as a child. “Slow and steady wins the race” – Robert Lloyd

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