Passive Income for April 2020

ID-100438362-300x300 Passive Income for April 2020Once a month, I like to talk about my total passive income for the previous month. I do this to track how much passive income is coming in. When I start to receive over $2,000 a month in passive income every single month, I will be in a great place. $2,000 a month is my crossover point. At that point, that money will be enough to cover all my expenses.

The best way I keep track of my dividends and other income is by using Personal Capital. I highly recommend that you sign up and start using their service. It is entirely free and beneficial.

 

Taxable Account: $652.99

Retirement Account: $13.91

Rental: $750

Total: $1,416.90

I updated my Passive Income page for the month.

Passive Income Report

Another month of $1400+ in passive income! My passive income grew by almost $4000 as you saw in a previous post of mine where I invested over $60k in 30 days. Last month saw an increase of 52% compared to April of 2019. Of course, this increase is the result of dividend increases, buying more shares, and dividend reinvesting. This is the beauty of dividend growth investing. In July, I expect to see the same kind of result, so I am very happy about that.

The retirement account saw a decrease of (74.4)% because I sold some position at a profit and reinvested them to more undervalued companies that happen to pay on a different schedule.

Now that I have been furlough, I will move my 401k account into my Rollover IRA and buy dividend growth stocks that have attractive value. I have about $45k in my 401k account. Once I move this over, My IRA account will see a high jump in dividend income going forward.

The rental continues to go solid. My tenant has not lost his job, so he has been able to pay rent and it looks like he will get through this pandemic with a job. This is great for him and me. I am now more dependent on this rental income as it will now cover my mortgage as well as other expenses.

Overall, I am thrilled how the passive income for last month turned out. I have been taking advantage of the massive drop in the stock market. I have been picking up a lot of shares of different companies. Make sure to sign up to follow me on Twitter and Facebook. I post my latest buy as well as sharing great content that I come across.

I wish you all health and happiness during this difficult time. I will leave you with this quote from Winston Churchill.

“Never waste a good crisis.”

 

How was last month for you? Hit a new high in passive income? Please let me know; I hope you did!!

Thank you for reading

Image by Sira Anamwong at FreeDigitalPhotos.net

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