July 2022 Passive Income – An Outstanding Month!
July 2022 Passive Income – Breaking $2,500!
- 3 sources of passive Income
- $1,336.01 from dividends
- 22 stocks/units dripped in June
- Trailing 12 Month Portfolio Return +7.61%
I really hope your enjoying your summer and doing your best to live your life on your own terms. Full of adventures! Last month has been action packed for us. Work hard but playing harder. We took a bunch of time off and had multiple long weekends. The market continues to do its thing. Dividends keep coming in and stock prices are climbing once again. Very nice considering we put most of our heloc to work the last couple months. =)
- We have been gone away the last 3 weekends now. We went to a sweet cottage our friends rented from airbnb. No drama just good times. He owns a seadoo and I have never been on one. It was an absolute blast. At first I was a little slow on the throttle but quickly went full throttle. (even with my daughter on my lap, she loved it) This is now something I’m looking into buying in the not to distant future – used of course!
- We took our trailer to a koa at 1000 islands. At first I forgot how little privacy you get at these places but that was quickly no issue as our neighbours were cool. One day we took the cruise to see the islands and Kingston penitentiary but held the koa down pretty good. So much stuff for the kids to do, the pool was nice and the blob was full of kids waiting to be tossed around by my dad bod! (No parents tend to go on there, if you see one – hit it up.) Secretively we had kids so I can do kid things like this again =)
- Last weekend we did our annual full family camping trip. The park was alright but the lake and pool were both closed. Kinda lame since it was the hottest weekend ever. So we hit up wasaga beach 2 days and I got to meet the legend himself – Dale from Cutthecrapinvesting. Dale is one smart guy who I have followed and chatted with for awhile on twitter. Lots of investing wisdom, he doesn’t write for money sense for nothing! Its was nice meeting someone from this community in real life for the first time.
- My dad got diagnosed with prostate cancer last winter and has been awaiting his surgery. He had one booked in June but even know he tested negative for covid, he had a stuffy nose so they cancelled his surgery…. Arg covid politics….. Anyways he had his surgery in July and everything went fantastic, he recovered quickly and is doing almost everything once again. He gets some blood work early September to find out if hes cancer free. They caught it early so here’s hoping!
Its safe to say July was an absolutely fantastic month. Grind hard at work, invest and spend but make sure you spend quality time with your family. They are wayyyyy more important than investing. Time really does fly and soon enough they will be too cool to hang out with dad. Enjoy these moments now. You never know when your health will change. Just like investing, don’t keep kicking the can to the future.
Alright, Let’s Get To Our June 2022 Passive Income
0 Raises or cuts this month
Total Added Income from Dividend Raises in 2022 – $320.11
July 2022 Dividend Income
13 Companies paid us this month.
|Stocks||July 2021 Income||July 2022 Income|
|Transcontinental||27.45 (1 Drip)||sold|
|Restaurant Brands||73.61||100.87 (1 Drip)|
|Aecon||0||113.04 (8 Drips)|
|Cisco||51.06 usd||52.82 (1 Drip)|
|TD Bank||102.70 (1 Drip)||170.88 (2 drips)|
|Bank Of Nova Scotia||92.70 (1 Drip)||110.21 (1 Drip)|
|Smart Centers||32.53 (1 Drip)||35.61 (1 Drip)|
|Rit Etf||65.13 (3 Drips)||67.56 (3 Drips)|
|Telus||82.21 (3 Drips)||135.10 (4 Drips)|
|Algonquin Power||86.20 (4 Drips)||196.23 (11 Drips)|
|Tc Energy||115.71 (1 Drip)||155.70 (2 Drips)|
|Bell Canada||109.38 (1 Drip)||151.80 (2 Drips)|
36 stocks Dripped in July, mmmmmmmmm!
$464.01 more than last year, or a 53.21% increase. After last months 52% increase I didn’t think that could be beat and yet here we are. haha wonderful and all those drips……. Guess could be more if Aecon keeps dropping… maybe grab some more at these prices =)
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $52.49 to our yearly forward dividend’s this month. Sweet!
Private Investment Payment – $1000.00
1k a month, Straight to the heloc.
Solar Panel Income
In June(We always get paid a month later) our solar panel system generated 1,361 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $386.83 into our chequing account this month.
Last June the system generated $385.92 so we are slightly higher this year again. Crazy how close it is though eh? Nature…..
Total Income for 2022 – $1,317.44
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$11,202.66
Amount to Break even —- $ -21,193.80
Total July 2022 Passive Income – $2,722.84
July 2021 Passive Income – $1,757.92
Basically a thousand bucks more this month than last year. Make your plan, visualize your plan, GO GET IT. Pay yourself first!
Totals For 2022
Dividends Year To Date Total – $6,586.17
Other Passive Income Year to date – $7,521.6
Total Passive Income for 2022 —– $14,107.77
Year End Goal – $25,000
July Stock Purchases
This month we made one stock purchase.
I wanted to beef up our position since we were so close to getting 2 dripped shares a quarter. This purchase enabled us to do just that. A wide moat Canadian stock that’s trading at a good price.
We added 28 shares at around 83 bucks a share. This purchase adds $99.68 to our forward income.
Last month was a little slower with purchases as we put more money into paying the heloc back at the moment and spending more on life in general. Summer is short, enjoy it.
Financial Goals Update
- We continue our monthly donation to The Nature Conservancy of Canada of $85.
Increase Dividends by $4285.81 this year. (bringing our forward income from dividends to $13,000 a year)
The goal for 2022 is to have a forward passive income of $27,500 thousand by the end of the year. I plan on doing this by refinancing our house and taking advantage of these low interest rates. I want to max out some accounts and let compounding do their magic. Its a big goal and will almost double our current passive income.
- With New Purchases, Drips, and Dividend Raises we continued to grow the size of our dividend Portfolio. Total increased so far in 2022 is $3,118.06
Etf Monthly Minimum Purchase of $250
- This month we added 12 more units of xaw etf.
- Questrade* is great because it offers free etf trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees.
- * Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though.
July 2022 Passive Income Conclusion
A great month all across the board. Passive Income and life in general. August will be lower with passive income but full of activities once again. I got a cousin coming down for 2 weeks from Holland, so I’ll be doing the whole tourist thing with them. Niagara falls, Wonderland etc.
I hope you all had a wonderful month as well. Readers Id like to know what you would like to see more of on the site. I have basically just been doing these monthly passive income posts for awhile now. I see more and more of you following along the journey but comments are way down. Id love to connect with more of you here.
Anyways wish you nothing but the best, Cheers!
Chickity China the Chinese chicken! – Barenaked Ladies
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.