Just a short post reporting the dividends I received in our retirement accounts during the month of January.
LIRA
CNR, CP, BNS, TD and TRP
Dividends Received = $302.60
Dividend Income January 2019 = $247.00
Monthly Income Increase of $55.60
My RRSP
TRP, TD, BNS, CM, CP, and BCE
Dividends Received = $537.91
Dividend Income January 2019 = $483.24
Monthly Income Increase of $54.67
* Sold 5 shares of CSU. Low dividend but a mistake as the stock has risen almost 50% since I sold it. I still hold some shares in my trading account.
Her RRSP
TRP, TD, BNS, CM, CP, BCE and T
Dividends Received = $629.17
Dividend Income January 2019 = $471.30
Monthly Income Increase of = $157.87
* Sold TFII in 2019 so no future dividends from this stock.
Total Income Received All Accounts = $1469.68
Total Income 2019 = $1201.54
YOY Monthly Increase of $268.14
Percentage Increase = 22%
Total Income 2019 = $1201.54
YOY Monthly Increase of $268.14
Percentage Increase = 22%
In Sum
Monthly Dividend Income has jumped up 22% over the same period last year. We have 13 years before my wife needs to switch her account into a RRIF and I have another 8 years. This is how you keep up with the ravages of inflation in your retirement accounts.
These accounts are stuffed with dividend growth stocks so the hope is the monthly income will steadily rise over time.
I only converted the LIRA account in 2018. Before that the money was invested in MAW104 a Global Balanced Fund. This account now delivers better results because there is no bonds dragging down the monthly income.
I sold 2 stocks in 2019 for having low dividend yields which in hindsight was a mistake because they were both rising in value.
They were CSU and TFII. Both great companies but for income not so much. I ended up just adding to existing positions in TD and FTS. More to follow next month.
I take all dividend income and buy more stock of existing positions. I will continue to do this until the law requires us to convert to RRIFs.
I take all dividend income and buy more stock of existing positions. I will continue to do this until the law requires us to convert to RRIFs.
Nice income increase!
ReplyDeleteYes, very happy with the results so far.
ReplyDeleteNew to your blog. Great post. I have question for you. For dividend portfolios in your registered plans (LIRA and when your RRSP converts to RRIF) is your strategy to only pull the dividends to ensure it meets the minimum WD %? At some point later in life I would think the minimum WD% will become greater than the dividend income. At that time is your plan to start selling some of the stocks? I will be in similar position so interested in what you are planning to do inside these registered plans.
ReplyDeleteHi dd, yes in short that is the plan. All plans need adjusting along the way and that would include a 4% WD strategy for these portfolios. As the % of the withdrawal grows with age it becomes a problem for everyone and the plan is exhausted. My Dad ran out of money at 85. I hope to last until 90. That is all you can plan for. Most forget about all the years these plans compound free of tax. Sooner or later we all pay up. Thanks for dropping by and commenting. Please stop by often. Take care and all te best dividend investing.
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