Dividend Investing Strategy for Financial Independence – Oct 2023

We want to Retire Early with Dividends and since 2019 we have been building our Dividend Investing Strategy for Financial Independence with Dividend Income. Here are the results for October 2023, and for the first time, we can compare the results over the last four years of dividend investing strategy.

What are Dividends?

Here’s an excerpt from Wikipedia:

A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years are available for distribution; a corporation is usually prohibited from paying a dividend out of its capital. Distribution to shareholders may be in cash (usually a deposit into a bank account) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or by share repurchase. In some cases, the distribution may be of assets.

Passive Income Breakdown

AW-UN.TOA&W Income Fund30.99
TD.TOTD Canada1,440.00
BCE.TOBell Canada774.00
QQQNasdaq 100 ETF111.59
HDIV.TOHamilton HDIV873.57
HYLD.TOHamilton HYLD646.34

Dividend Investing Strategy for Passive Income – October 2023 video

Dividend Investing Strategy: Summary

  • Year to date, our dividends and distributions paid us $41,256.44 dollars. Our initial goal was to achieve $40,000 in 2023. As you can see, we are not far away, and mid-year decided to bump it up to $60,000. Certainly, we won’t achieve the $60,000 in dividends in 2023, however, we will get there at some point in 2024. With this month’s results, we are at 68% of our goal.
  • For the first time since we started investing in dividend stocks, we can see the results over the last four years. Here are a few numbers for comparison:
    • Oct 2020: $717.84
    • Oct 2021: $1,053.98
    • Oct 2022: $2,426.50
    • Oct 2023: $5,410.30
  • We are at this stage because of persistence, consistency, the community we are building, and the professional services we use, including the fee-only financial planner, our accountant, the comments, e-mails, and interactions with our community and 5i Research. We leverage their experience and see what’s “out there”. If you are interested,  you will have a 25% discount and 14 day trial – money back guaranteed.