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%
Mid August!
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. =)
Life
- 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
Raises
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) |
| Couche-Tard | 5.95 | 16.50 |
| Aecon | 0 | 113.04 (8 Drips) |
| Nutrien | 27.37 | 29.69 |
| 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) |
| Totals | 872.00 | 1336.01 |
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!
Other Income
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.
TD Bank
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
Charities
- 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.
Sounds like you had a blast in July! Awesome! And Congrats on breaking $2,500 in passive income. That is a huge YOY increase in dividends. Keep up the great work! 🙂
hey Dynasty,
thanks man, feels great
Suggest a post on how you analyze a stock and decide if it is a buy at the current price.
Talking about US stocks can drive more traffic to site as more people follow the stocks on the NYSE and NASDAQ over our exchanges.
thanks pursuit.
will do!
cheers man
Looks like a great month Rob, congrats! Do you see the solar panels as being a good investment, just wonder about the longevity since the payoff is still 21K? It’s nice you are getting paid for the energy you harness!
hey Jim
Its definately nice getting paid to do absolutely nothing and be diversified outside of the market.
I hear some horror storys about reshingling so thats not cool. Companies charging a fortune to remove them and put them back on. We are getting less than expected because of a big tree blocking lots of panels during prime time but its all good, not cutting it down.
slowly but surely it gets paid down.
cheers Jim!
Hi Rob,
Sorry to hear about what your dad is going through. I hope all is clear moving forward for him.
Over twenty years ago when I was around 50, my MD warned me to start making lifestyle changes…..or else. The changes have been slow and steady over the years, so now in addition to dividend stocks I’ve taken up nutrition as a hobby. Read and re-read, that’s what I do. If interested just do a google search on prostate diet and you’ll find plenty of foods that may help. No magic cure, unfortunately.
Still own 31 all-Canadian individual equities (sector diversified) in the non-registered account that gives us cash income in retirement. If we don’t have any needs for the cash then along with any savings re-invest into any other Canadian dividend paying companies. Compounding at it’s finest.
Best to you and your family.
hey hey hey
thanks. My dad and step mom have drastically changed their diet. They rarely eat red meat anymore. Meanwhile I see sooo many people swear by eating red meat more. So much conflicting diets out there.
Nutrition as a hobby definitely is a good hobby though =)
Love seeing you enjoying your retirement with the dgi route. You just encourage me to keep going and that it works.
All the best to you and your family as well!
cheers
Hey Rob, seems like your family is really enjoying the best Canadian summers have to offer. We’ve spent 25+ nights so far at the campground this spring/summer, and like you I enjoy doing the nonsensical things with the kids, like jumping on a blob! Never seen one of those blob things but it looks like something I need to do in the future. I also remember touring thru the Thousand Islands as a kid and learning the supposed history of how my favourite (at the time) salad dressing was named 😀
36 DRIPs man, most impressive, and they’re not all $10 stocks either! AQN leading the way from a dividend amount and drip perspective, are you still buying more of them? Some people really hate on them recently, but they’re a boring company that dipped with renewables this year so perhaps that’s why.
What broker do you use? You hold and DRIP some stocks that I also own, but BMO InvestorLine doesn’t DRIP stocks unless they’re offered by the actual company, something which a few other brokers do.
As for future articles I’ve always enjoyed reading about:
–different people’s holdings and investment strategies, so perhaps a guest post or two, especially from someone who may have a different, active, or aggressive approach
–leveraged investing, now that you’ve started this path you could speak to your experience. The vast majority of people assume leverage is bad just because….. but it’s truly just being smart and efficient. Imagine trying to build the ancient pyramids without employing leverage 😉
–articles where people forecast where they’ll be in 5, 10, 20 years from now
hey Norm
Love hearing that you have spent 25 nights camping already this year. Its a great thing to do, nature sure does work some magic for the mind body and soul. Gotta try the blob sometime, its like a trampoline on steroids. such a good workout.
gotta love the drips. Right now im not buying anymore algonquin. Its held in my tfsa which is now maxed. great company but i do dislike their constant share dilution. I guess that how they fund that growth though!
I use rbc and questrade. questrade just for xaw etf though, since its a small monthly purchase the miniscule fees are nice.
Love the ideas for future posts, I may just write one about our experience with leveraged investing and our future forecasts. I did one awhile ago but know we have surpassed where I planned for us to be at this point.
all the best Norm
cheers!
Congrats on $1,336.01 from dividends alone! The fact you have three additional diversifiers for passive income is even more impressive. It’s always a good idea to diversify your diversifiers when it comes to passive income.
hey Samuel
Thanks, and welcome to the site. There’s definitely advantages to multiple streams of income.
cheers
Great post Rob, glad you had a nice month and you are definitely right about family time being way more important than wealth building. Hope your dad is doing better after surgery!
hey Jim
Appreciate it thanks, he has been doing very good.
No question, focus on building wealth but dont ignore the family time. Kids grow way too fast!
cheers