TFSA Monthly Dividend Income (January 2022)

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 which is $6,000 for 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

Total contribution room = $81,500

 

For the month of December we made two additions in our holdings. Check here Our 2022 Total DGI TFSA Portfolio and projected annual income.

Here’s the list of companies that pay us dividends in January. We own few similar securities in our TFSA portfolio and a few individual ones.

 

The month of January has provided us $961.36 of passive income in our TFSA accounts alone. This has shown a 34.03% YOY growth compared to same period January 2021.

While we received 2 pay checks from work in the month of January (active income) yet we received 30 paychecks from different companies for the same month without spending a single hour at work (passive income). Our ultimate goal is to live off passive income through dividends without harvesting its capital.

 

The line graph above may have not reflected yet the information for the month of January as the trend will not show until there is another month to connect. However, based on the table above that shows our January passive income of $961.36 will also be the best month we have in our TFSA dividend portfolio to date.

Also, in our effort to consolidate our stock holdings in our TFSA we decided to part ways with a few of our stocks that have been purely a dividend income which have not increased dividends for a couple of years namely: TNT.UN, NWH.UN, CHP.UN, NPI, and SAP which has been disappointing and underperforming for the last few years!

We have a new addition and started a new position in our TFSA portfolio – Slate Grocery REIT (SGR.UN) it owns and leases a portfolio of a diversified revenue producing commercial real estate in the United States with an emphasis on grocery-anchored retail properties. Although it appears that it doesn’t have a long dividend history but it appears promising in my opinion. The REIT has a forward P/E of 10, dividend yield 7.37%, Payout Ratio of 49.11% and Return on Equity of 17.81%. (Source: Yahoo Finance)

Monthly Goals

We aim to reinvest our dividends on a monthly basis. Here’s the total transactions we have for our TFSA in January. Follow this link to where we invest our 2022 TFSA contribution limit.

MR MPL TFSA Trades

  • Sold CHP.UN      = 74 shares  (Gains)
  • Sold NWH.UN    = 158 shares (Gains)
  • Sold TNT.UN      = 85 shares   (Gains)
  • Sold SAP           = 70 shares    (Loss)
  • Bought VEE       = 80 shares
  • Bought VIU        = 91 shares
  • Bought SGR.UN =164 shares
  • Bought ENB       = 21 shares
  • Bought GRT.UN = 15 shares

MRS MPL TFSA Trades

  • Sold SAP            = 79 shares ( Loss)
  • Sold NPI             = 40 shares ( Gains)
  • Sold NWH.UN    = 230 shares (Gains)
  • Bought VEE        = 80 shares
  • Bought VIU         = 91 shares
  • Bought SGR.UN = 230 shares
  • Bought ENB       = 27 shares
  • Bought SU         = 76 shares

 

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More Reading:

One of my recent blog posts highlighted our mistakes in buying our first home in Canada. With those lessons learned we felt we were equipped with much-needed information this time around buying our recent home using leverage instead of selling our investments to use as a down deposit. In doing so, we improved our total current net worth without dipping into our long term investments.

Earlier this week we renewed our home insurance. We made a massive savings by switching our home insurance to Square One up to 30%. If you are looking to renew your home insurance or for a new property, why not check them out and see for yourself if you can also get a huge discount on your home insurance.

Moreover, we also made dramatic changes in our lifestyle and embraced minimalism hence we perceived that living less is more. A few simple money saving tips we have done are reducing our cell phone bills and if you are still paying bank fees consider switching to No fee bank accounts.  Similarly, I find dividend investing easy and more fun and you can choose a no fee trading account either as a new or seasoned investor.

Finally, when we are employed, we receive a regular income and a sense of financial security. However, many jobs are not guaranteed and can be also lost and taken away beyond our control as many have experienced during this pandemic due to an abrupt closure of businesses due to the impact of the virus and government mandated lockdowns. Therefore, it is vital to generate multiple sources of income to protect ourselves from these unforeseen events.

 

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