Once 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: $1,174.56
Retirement Account: $611.03
I updated my Passive Income page for the month.
Passive Income Report
First off, I hope that you and your family are safe and healthy during this troubled time, which has been caused by the COVID-19.
So last month, I received a total of $2,535 in passive income. That is something that I am pleased about considering that my paper Net Worth has dropped over $150k at the very bottom thus far. However, I have not lost anything because I continue to hold and buy up more shares of very high-quality companies that continue to pay dividends during this troubled time.
There have been some companies that suspended their dividends. For example, DAL and CCL both suspended their dividend payments. This does not concern me as I am very diversified as I own 97 different companies in my portfolio.
My taxable account had its highest dividend income report thus far. This is an increase of 28.9% Year over Year (YoY) from $925.78 in March last year to $1,174.56 last month. This increase is the result of continuing to invest new capital and reinvesting dividends.
For example, the $1,174 I received in the form of dividends were reinvested into undervalued high-quality companies like OZK, IVZ, WRK, VIAC, and T. This will help my portfolio to produce more dividends in the future.
The retirement account includes a Roth IRA and a Traditional IRA. I no longer put new capital into both of these accounts. There was a drop in income from $943.10 in March 2019, to $611.03 this year. This is because I own a few index funds in my retirement account, so they change their distribution.
My Rental income continues to hum along nicely. I have been fortunate that my tenant has not lost his job during this pandemic. I currently rent out a room and bathroom in my 2/2 condo. It has been an excellent arrangement for the past four years. The $750 I receive in rent pays for my mortgage, insurance, and Tax. So mainly, I live for free in my lovely condo.
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