Our 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. TFSA contribution limit in 2023 will increase to $6,500 from ($6,000 in 2022).
Here are the TFSA contribution limits by year since its 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
- 2022 – $6,000
- 2023 – $6,500
Total contribution room = $88,000
As you can see month of October showed the single month of negative YOY growth in 2022 and still made a good recovery and positive YOY return of 21.37% to end the year.
Our 2022 Total DGI TFSA Portfolio. Projected annual dividend income (PADI) $10,786.55 as of the time of writing excluding 2023 new contribution limits which I will post in the next few days.
List of companies that paid us dividends in December. We own several identical stocks in our TFSA portfolio and a few independent ones.
The month of December has provided us $1,146.42 of passive income in our TFSA accounts alone. This has indicated a 38.53% YOY growth from December of 2021.
While we received 6 paychecks from work for the month of December (active income) which is amazing for a single month when you get paid biweekly as most months of this year we only received 4 pay checks. However, it’s even more exciting that we received 16 paychecks from different companies for the same month in our TFSA alone without spending a single hour at work (passive income).
The journey I have shared in my blog is about our TFSA dividend income only. We have achieved our goals maxing out both our TFSA and RRSP early in 2022. However, we continue to invest in equities through non-registered taxable accounts. In September 2022, we also reached our goal of saving up ≈ 13K which is now available to be deployed this week. Ultimately, we will have to repeat same process of saving for next year TFSA limit beginning this month January.
Monthly Goals: Reinvest all our dividends
The month of December is no different. We reinvested all our dividends. One of the main goals we have at the beginning of the year 2022 is to consolidate our positions in our TFSA to closer to around 20 holdings each and keeping dividend growth stocks that has done well for us in the last few years. As a result, we let go some of these companies and ETF’s we have, as either they have not increase their dividends in the last 2-3 years or the company have not really grew in the last 5 years in spite of them increasing their dividends slowly.
Here’s the total transactions we have in our TFSA in December 2022.
MR. MPL Trades
- Sold MFC = 241 shares (Gains)
- Sold KEY = 280 shares (Gains)
- Sold VEE = 42 shares (Loss)
- Sold VUN = 19 shares (Loss)
- Sold ZSP = 23 shares (Loss)
- Added ATD = 47 shares
- Added BCE = 25 shares
- Added BNS = 1 share
- Added CM = 8 shares
- Added CNR = 1 share
- Added SGR.UN= 41 shares
- Added SRU.UN= 54 shares
- Added XUU = 68 shares
- Added VIU = 47 shares
MRS. MPL TRADES
- Sold GWO = 71 shares (Gains)
- Sold KEY = 125 shares (Gains)
- Sold VEE = 82 shares (Loss)
- Added BNS = 27 shares
- Added CM = 15 shares
- Added CNR = 1 share
- Added CRT.UN = 1 share
- Added ENB = 10 shares
- Added NA = 12 shares
- Added SRU.UN = 35 shares
- Added TD = 10 shares
- Added XUU = 67 shares
Note: For transparency I have started this blog with my commitment to post our TFSA dividend income only. We don’t have any intention to post the total value of our portfolio or personal net worth updates. Thank you for your understanding.
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