Happy new year everyone, i hope you had a great time with family and friends. A new year is upon us, a good time to plan and think ahead.
December dividend income finally arrived, i brought in $1016.84. For December 2014 i made $623.90. This is a great end to a real intense year on many levels. My total for the year came in at $9600.02. I just beat 2014 by a smidge.
Many of my funds were held in options / non-dividend paying vehicles but toward the end of the year i managed to make some big profits and roll some of that back into dividend paying equities. The next 2-3 months should be a good tell on the impact of that.
2016 should in theory be a significant bump in income. My aim is to make $15,000 in dividend income for 2016, approximately a 50% increase. It is a big jump but i believe i’m in a good position to achieve it, we’ll see.
My lifetime dividend is not far off $25,000. For the time put in, this isn’t a bad return. If i hit my target this year, i’ll be at $40,000 and then things start to move fast. It just shows that anyone can do this, a bit of luck is required but for the most part, just cutting down on expenses, focusing on your strategy, not panicking and so on – you can and will make a difference. I recall reading somewhere it takes about 10 years or so for the compounding to really start to kick in so always remember that patience is a virtue especially with this kind of investing.
How did you do this year? Did you hit your target? What will you do differently this year if anything?
Hope you had a great NYE and here’s to a great 2016.