Once a month I like to talk about my total passive income for the month. I do this to track how much is coming in. Once I get over $2,000 a month in passive income, 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.
Here we have my passive income for the month of July.
The best way I keep track of my dividends and other income is by using Personal Capital. I highly recommended for you to sign up and start using their service. It is completely free and extremely helpful.
Taxable Account: $529.68
Retirement Account: $75.29
I updated my Passive Income page for the month.
Passive Income Report
I love these income reports. It shows me exactly how much my passive income is growing. These reports are very motivating to me. It keeps me going to continue to save at a high rate and to invest the difference. I hope these reports also motivate you as well.
My taxable account received a total dividend of $529.68. It may not seem much, but this amount is 43.3% higher than last year July income. That is outstanding Year over Year (YoY) growth.
The two biggest contributions came from Altria Group, Inc. (MO) and Philip Morris International Inc. (PM). MO sent $83.20 while PM sent $66.12.
However, my retirement account did not see the same YoY growth. This is on purpose because I am no longer funding my Roth IRA account and Traditional IRA account. Never the less, my retirement account saw a growth of 6.84% vs last year July report.
Rental income continues to be humming along. Therefore, there is nothing special to report here in this section of the report.
I love writing these reports. It shows how dedication can transform one’s life. I am so blessed to be in this position. I thank God every day.
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How was last month for you been? Hit a new high in passive income? Please let me know, I hope you did!!
Thank you for reading
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