Another month down and another month closer to my goal of retiring on my dividends. I know this goal is years away, but it is really exciting for me to see the difference a month makes. Month over month, year over year, my dividends will continue to grow if I stay the course. My goal this year is to hit $1,500 in dividends. This was an aggressive goal prior to my decision to walk away from my employer. If you remember, changing jobs allowed me to rollover my 401k into an IRA, which has allowed me to buy dividend paying stocks. Since then, this has become the easiest of my 2015 goals. This month my dividends surpassed $1,500 for 2015! I have opted to not restate my goal for the remainder of the year and just set a new one next year, hopefully one that goes from $1,500 to $5,000.
Adding up my dividends received, I’ve currently earned $1,632.29 or 108% of my 2015 goal. I estimate that I will finish up 2015 with dividends totaling around $2,800. This total is amazing to me because my 2014 dividend total was $821.99. The power of dividend investing is awesome.
My dividends collected in July were as follows:
My Dividends – Year-Over-Year
This chart tracks my monthly dividends on a year over year basis. 2014 numbers are in blue and 2015 numbers are in red. My dividends in July went from $52.14 in 2014 to $423.64 in 2015. I am so happy with the increase in my monthly dividends collected year-over-year.
Full Disclosure: Long BNS, STWD, PM, GE, DPS, KO, CM, MO, CSCO, O
Did you hit your monthly dividend income targets in July? Do you invest for dividends or do you have a different strategy?