January 2024 Passive Income – Breaking Records
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- 4 sources of passive Income
- $1,279.67 from dividends
- 45 stock/units dripped in December
- Trailing 12 Month Portfolio Return 4.35%
S&P 500 12 Month Total Return +22.77% for February 2024
S&P/TSX Composite Index 12 Month +5.62% February 2024
The market keeps on ripping. Its actually kinda crazy how much its ran up since November in particular.. We see a lot of companies lowering guidance and firing off lots of employees but the market doesn’t seem to care. Its all about the magnificent 7.
Life
Here we are a day before Valentines day. Pretty insane how fast time is going. Here in Ontario it’s been pretty mild to say the least, you almost could call it spring like. Oh the joys of picking up all the dog pooh in the yard =)
I wrapped up a basement reno I have been working on. This one was kinda cool as we installed a slide on the stairs for the kids and obviously adults too.. Got a warehouse renovation coming up next, but had a week or 2 to work around our house. Our laundry room was still wallpaper so I removed it to find….. more wallpaper.. Haha needless to say I ripped that one off and had to skim coat it all. Now the wife wants to paint the entire bottom floor.
Both our kids celebrated their birthdays this month. Our daughter is now 6 and the lil man, is not so little anymore at 11. They both had a party with friends but we told our son this may be his last bigger bday party. They cost like 500 bucks each time to have like 10 friends go to a ninja warrior course and trampoline park. Would be better inviting one friend and staying at a waterpark overnight or something..
If you have older kids at what age did you start to cut down on the bday partys?
Alright, Let’s Get To Our January 2024 Passive Income
Raises/ Cuts
The start of the year always comes with a bunch of dividend raise announcements.
APD announced a pretty disappointing dividend raise of 1.1%. Its not a bad move considering how much they are spending on new projects, but the ceo made some weird comments about the dividend offering a high starting yield so why really raise it.. I dunno it came off different in my opinion.
This raise added $3.93 in forward income.
CNR – Probably my favourite Canadian stock. Like clockwork they announced their raise in January. They have raised it ever year since becoming a publicly traded company. They bumped theirs 7% and announced another solid buyback.
This raise added $25.96 in forward income.
Total Added Income from Dividend Raises in 2024 – $29.89
January had 2 dividend raises for our portfolio but February has been full of them so far. Should be a good year for raises if things continue moving along without any big hiccups.
January 2024 Dividend Income
12 Companies paid us this month.
| Stocks | January 2023 Income | January 2024 Income |
|---|---|---|
| Disney | 18.30 usd | |
| Costco | 0 | 27.65 |
| Nutrien | 31.21 | 51.17 |
| Telus | 1.40 | 81.24 (3 Drips) |
| Bell Canada | 155.48 (2 Drips) | 195.44 (3 Drips) |
| Allied Property | 177.66 (8 Drips) | |
| TD Bank | 42.24 | 141.78 (1 Drip) |
| Aecon | 116.55 (12 Drips) | 123.77 (9 Drips) |
| TC Energy | 159.30 (2 Drips) | 174.84 (3 Drips) |
| Cisco | 53.58 (1 Drip) | 56.55 (1 Drip) |
| Xaw ETF | 82.68 (2 Drips) | 98.49 (2 Drips) |
| Algonquin Power | 206.08 (22 Drips) | 132.78 (15 Drips) |
| Totals | 848.52 | 1,279.67 |
45 stocks/units Dripped in January.
Almost 13 hundred bucks. Beauty! We had that Disney dividend which just got reinstated. That special costco dividend got deposited and we even had that special dividend from Allied Property. A very good month, love seeing these totals increase.
If your interested check out our Previous Dividend Income Reports.
Our Drips (Dividend Reinvestment Program) added $63.83 bucks to our forward income…. Pretty sure that’s a new record
Other Income
Private Investment Payment – $1000.00
1k a month, very nice!
Solar Panel Income
In December (We always get paid a month later) our solar panel system generated 156 kWh. Since we bring in a fixed rate of 28.8 cents per kilowatt hour, Hydro One deposited $44.94 into our chequing account this month.
Last December the system generated $27.98, so its safe to say the weather has been nicer this year than last, well at least December.
Total Income for 2024 – $44.94
System Installed January 2018
Total System Cost ——–$32,396.46
Total Income Received ——–$14,323.9
_____________________________________________
Amount to Break even —- $ —18,072.56
Bob asked me if I can include my monthly power bill in the post to compare, so here it is. Our bill for December was $167.46. So our system wouldn’t of covered the power we used this month.
Cash Back Credit Card
We always pay our credit card balances in full so we don’t get charged any interest. In January they pay us a yearly bonus for using their card.
This year we got $775.06, sweet!
While I thought it was a lot its actually not a huge jump from the previous year of 763.84 so maybe inflation is cooling off a bit.
Total January 2024 Passive Income – $3,099.67
January 2023 Passive Income – $2,640.34
A solid growth rate of 17.39% year over year. This is also the first time we surpassed 3k in passive income. Feels good and just shows what sticking to the plan can do. The chart below shows it all. You start with a couple bucks and momentum picks up, the snowball grows and the income does too!
When people ask for finance advice and I mention starting with a little bit of enbridge to start to feel some income coming without doing anything they get excited. Then I say 1k will bring in like 80 bucks a year. 80 bucks? Thats it? That aint gonna do anything for me…. Its always the same and they don’t start investing. But its not the start, its the consistency of investing that will really get things moving for ya.
I dont share and write these posts to brag. They help me stick to the plan and I also hope they inspire some of you. I’ve said it before but when I started investing I knew nothing. I stumbled across some bloggers doing these exact posts and got fired up. You can do it as well. This is your year.
Totals For 2023
Dividends Year To Date Total – $1,279.67
Other Passive Income Year to date – $1,820
Total Passive Income for 2024 —– $3,099.67
Year End Goal – $26,500 (11.69%)
Since we brought in $24,184.07 last year, the goal is to bring in $26,500 this year. Let’s see if we can achieve this in 2024. A 10% increase seems like a pretty good goal for the year.
January Stock Purchases
TD Bank
We added 12 more shares to our portfolio at a cost basis of $85.54 per share. arg! well its a long term game, all good.
This purchase added 48.96 in forward dividends.
APD
We added 5 more shares of apd before earnings at 259.04 per share. Ouch again.. Well this one hurt. A tiny dividend raise and the stock got killed as they spend more on projects. Long term this should be fine though, I like the hydrogen space moving forward.
The 5 shares added $35.10 in forward income.
Costco CDR
As I’ve said in the past, I plan on adding to this one once a quarter moving forward until it becomes in my top 5 core holdings. It ain’t cheap by any means but the business is fantastic and we needed a grocer position in the portfolio. We also could use more growth stocks and costco got so much room to grow in my opinion.
We added 32 more shares at $32.12 per share. This adds $6.09 to our forward income.
Overall we added $90.15 in forward income this month from purchases
Total added forward dividend income from purchases in 2023 – $90.15
Bitcoin
Bitcoin had a heck of a month. Its now become more mainstream as its allowed to be traded like an etf. I guess some of the hype was baked into the price as it quickly tanked after the announcement but now has been rocketing higher once again.
As always we buy a small amount every paycheque and just keep dollar cost averging into it.
We decided to go with shakepay because it is regulated in Canada and you shake the phone daily to get some free sats (bitcoin). They recently changed the way shaking sats is done. You get a certain amount per day now
A 100 dollar deposit gets you 10 bucks and 10 for the referrer. Feel free to use my affiliate here if your interested in trying out the crypto space. Or if your a fan of the site and wanna toss me some btc my Shaketag is @hutz8 – worth a shot =)
I appreciate the support.
Financial Goals Update
Charities
Etf Monthly Minimum Purchase of $250
- This month we added 0 more units of xaw etf.
- Questrade* is great because it offers free etf trades and cheaper stock trading options than most Canadian brokers. $250.00 a month would kill us if we needed to pay high trading fees.
- * Note the questrade link is a affiliate link and at no additional cost to you, I would get a little payment if you were to sign up. You could get $50 in free trades by using my affiliate link though.
We didn’t buy and xaw this month.
January 2024 Passive Income Conclusion
As we start the new year, its great to set new records for passive income and also set new goals. I’m looking forward to seeing how this years results will be and how the market does in general. Id like to think we are due for a pullback but the market seems to disagree with me. Whiles there’s stocks setting new all time highs there also is some good value out there. This year I’ll try to get a good mix of both. At the end of the day total returns matter and I’m lagging the market.
What are your goals for 2024 financially speaking? How do you think the market will do by year end? we be up or down from current values?
cheers
It is less about becoming a better person and more of being better, as a person – JR Rim
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.
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