Tuesday, November 24, 2015

My 2015 Financial Goals : where it's at

In 2015, I have set myself some more precise goals.

With roughly one month to go before the end of the year, I thought I would check upon my goals for 2015. Here's a rundown of how I'm doing so far.

  • To respect, 75 % of the time, a monthly budget of less than 5 000 $. Last year we aimed for 4 500$ but failed badly. (partly because we hiked our spending towards investing, so not that bad). Let's try 5 000$ and hope for the best. 
FAIL. Well, this one is pretty rough. It's not that we are doing very badly. Our budget for a month is roughly 5K$, that includes money we spend investing. But we pretty much bust this mark every month, although by small margins. We succeeded twice to live under the 5 K$ rule. But I won't lose sleep over it. 
  • To max out my TSFA and hit the 42 48 K$ mark. Right now, I have 30 K$ in it. (It's not a great TFSA year) I have room for 8 459 $ this year (+ 5000 K$ as announced in the last Federal Budget). I assume a yield of around 5-6 %. One of my main stock is (STILL) slumping (ABX). Hopefully, my other stocks will compensate. Let’s aim for 42 K$ 48 K$. Yes I can! 

FAIL. Before sailing off, the Conservative Government hiked the limit per year we could contribute to our TFSA. It's now 10 000$ But the new Liberal Government wants to cut it back to 5K$. We will see about that. For my U$ friends : a TFSA is a Tax Free Saving Account. It allows you to hold pretty much all kinds of investing products in it : from bonds to stocks, to ETF's. The nice thing about it : it's all tax free. A great tool. But my investments in it haven't been as productive as one might have expected. I invested the maximum so far (41K$) and my TFSA is barely above the 44K$ mark. There a numerous reasons for that. The main reason is called : Barrick Gold (ABX). I once held more than 300 shares of that disgraced stock. It's down to 200. I lost a hefty sum with ABX. Live and learn, right? I still hold some pretty good dividend stock growers in it and I'm confident I will make up for it in the near future.

  • To grow my net worth to 200 K$ (and more). I expect more revenue this year. Right now, I have a Net Worth of roughly 188 K$. With a yield of 4-5 %, that should take me to close to 195 K$ solely on compounding. I should be able to add a few bucks in the mix. Not to mention the 8 K$ I put down on the capital of my mortgage every year. I will be very disappointed if I don’t hit the 200 K$ barrier (and more). Go get it boy !
SUCCEED. My Net Worth is currently over 200 K$. You can check it out here. Paying off your mortgage is annoying. But it's a simple and safe way to grow your Net Worth. This cool mark is reached, now let's aim for another one next year!

  • To hit the 160 K $ mark in my portfolio. Right now I have around 145 K $ (you can check it out here). I still have much cash flow. I need to invest some of it in new quality stocks. But, considering the perpetual bull market (will it end?), I will be extremely patient in that regard. I should be able to hit this mark with compounding and new money. 

SUCCEED. My Portfolio is currently over 160K$. You can check it out here. I"m happy but to tell you the truth this goal was pretty conservative. I should have more by now with the amount of money I have deployed recently. Oh well. Maybe I'm hard on myself...

  • To hike my Dividend income to 4 800 $ a year. It's a new goal! Right now, I have close to 3 K$ (2 982$). You can check it out here. I want to increase that number to 4 800$, which will represent 400$ per month. It's an increase of 37%. 

FAIL. This is a goal that was very bold. I knew it. But I wanted to challenge myself a little bit. Even though I didn't reach it, I still managed to hike my Dividend Income by more than 28%. It's now approaching 4 200$... So it's a loss that feels like a victory.

  • To stay out of debt. I don’t have any bad debt as we speak (apart from the mortgage, which is a good debt). That's the way we like it. 

FAIL.We have currently 3K$ on the margin. But it doesn't bother me. I should be able to pay it by the end of the year. So this goal should be attained.

  • To find another form of investment. A land, a cottage, a new condo, a house, a wood forrest. Anything that diversify our assets. 
FAIL. Didn't make anything to that regard. But I will!

What do you think of where I am right now regarding my 2015 goals? What about you? Will you reach yours?

Friday, November 13, 2015

My October Dividend Income Summary: $CUF.UN $TRP $PWF $BCE $CP $MDLZ $BNS

October 2015 is so over and it's that time again for a Dividend Income Summary of the Month.

As you can see on my Passive Income page, 7 companies chipped in for this month.  

October is not the busiest month on the dividend front. But it's still income coming in, right?

Besides, I'm very happy to see new comers chip in like TRP and BNS!

This month I managed to collect a great 208.42 $The amounts are all in Canadian dollars. 

My Dividends came from:
  • REIT Cominar (CUF.UN) : 24.75$ (which I use in part to buy one more share with my DRIP)
  • TransCanada Corp (TRP) : 13.00$
  • Power Financial  (PWF) : 37.25$
  • BCE (BCE) : 26.00$
  • Canadian Pacific Railway (CP) : 14.00$
  • Monderez International (MDLZ) : 23.42$
  • Bank of Nova Scotia (BNS) : 70.00$ (which I use in part to buy one more share with my DRIP)
My total Dividend paid for 2015 : 3104.22$ + 208.42$ = 3312.64$ (my special dividend from Kraft-Heinz included)

My Total Dividend paid since I started Dividend Investing : 12 387.75$ + 204.42$ : 12 592.17$

What do you think of my dividend income stream?