Fifteen difference sources of income found their way into my world this month for a grand total of $376.78. It gives me a bit of comfort knowing as I add companies to my portfolio the sources of income will continue to multiply. The more steams flowing into my river of wealth the less chance it will dry up just because one of the streams does. As those streams compound and get bigger they will allow me to take away a stream (income from a job) one day.
The majority of it is from stocks held in an IRA. These profits I will not count as income until such a time where I can take advantage of the IRA without penalty. The remaining taxable income is $27 bucks. This is coming from 6 income streams. All are currently small but with each passing quarter it is slowly growing. This covers one trip to fast food joint for the family. Going forward I am going to start counting this income in my budget post. A community member got me to understand income is income even if you reinvest it automatically. If you need it to live off of it is there.
This month is leaps and bounds over September of last year. Looking back I only received $1.06 in dividends. With cash flow to invest and picking good companies that grow their dividend I see this higher next year. Not sure by how much but if I can grow my dividends 10-20% year over year I will be ecstatic.
Hope you all had a good month as well. What percentage are you looking to grow your dividends every year to reach your goal?