I was “forced” to update my Dividend Spreadsheet and I almost forgot how I created my first spreadsheet in the first place. I guess the lesson here is that I need to either buy lots of dividend producing shares, make sure the companies increase the dividends, or keep updated on my DRIPping dividends.
To my excitement, I found out that the DRIP actually went through (I think it’s about 6 months later) but I guess it was dripping so slowly I didn’t even realize it. I have one extra share in Husky (HSE) and Sunlife (SLF) now!
The thing I love about dividend investing is that it is truly passive income. I know that the debate is hot out there on which one is preferable, online income (e.g. blogging to make money) or passive income. Both are rewarding, but seeing things slowly accumulate (e.g. dripping shares) is somehow very satisfying for me.
I’m not sure if this is the case for anyone else.
Another good thing is that I found out I have more TFSA contribution room that I thought I did! This is because I made made some money selling all my income trusts and took the majority out tax free a few years back. When I contribute my TFSA, I usually only put the annual amount, and didn’t want to risk getting the CRA over contribution penalty.
Anyways, turns out I was too cautious. So I put in an extra $2000 and bought more BMO shares especially since they are raising their dividends in November. Obviously something is wrong with me, I get more joy out of buying investments than I do shoes, clothes, jewellery, or other girly things.
Finally, even better news is that I realized I forgot to put in my Bell (BCE) shares in my spreadsheet. I have no idea how I missed it since I put in my Telus (TU) shares and they were originally in the same margin account. Anyways, now I have almost $1500 of 100% pure passive income on an annual basis.
Hardcore dividend investors out there- why do you pick individual dividend stocks over something like ETFs? (Sorry TM, I know you’re a fan of ETFs).