Another month has come and gone. The cool mornings of October are turning colder into November. Christmas is just around the corner. All the while, I’m earning money without having to work for it. I’m working, but a growing portion of my income is coming from passive income, which is the best kind of income. I work to earn money, and then I put a portion of the money to work for me to create more income that requires absolutely no more error that making a few clicks in my brokerage accounts. My earnings to this point have been quite small, but they are growing. And they should continue to grow over time. I find it really exciting when dividends hit my account. They provide additional capital that I can put to work that can add to the process of compounding over the next couple of decades. Hopefully, they will add up to quite a bit of income by the time I hit retirement age. So, without dragging on any further, I’ll give you the rundown of my income for the month of October.
Two companies paid me dividends in October. They were:
Coca-Cola (KO) $1.61
Bank of Nova Scotia (BNS) $1.60
Total for October $3.21
Total for 2015: $5.83
October set a record for my short dividend income portfolio history. My earnings from KO went into a purchase of WalMart stock in my Loyal3 account. My shares of BNS are held in a TradeKing account that allows for automatic dividend reinvestment. My DRIP bought me an additional 0.029 share of BNS stock that should add $0.06 to my dividend income (should the exchange rate between US and Canadian currencies remain the same. I was only able to purchase $1.24 in BNS stock after a 15 percent hit to my dividend for Canadian taxes. Regardless, my dividend income is taking an upward slant over time, and November promises to be even larger than the $0.64 that I earned from Apple in August because I’ve added 10 shares of AT & T to my portfolio that will pay out in November as well. My portfolio now holds a total of 8 stocks that have anywhere between around $40 and $330 invested in them. Hopefully, I have enough capital available in November to add to my portfolio and my expected passive income going forward.