Happy May everyone! Time to dive into what happened over the last 30 days and see how my passive income stream looks. April turned out to be a bit crazier than I expected on the expense side of the house, I had a bit of a surprise state tax that I owed upwards of $860, which wasn’t a big deal, but definitely unexpected. This wasn’t planned for, but was the result of me being asked to assist with in another state setting up a specialty claims unit for the insurance company I worked for and the result of almost $21,000.00 of catastrophe pay that I received for living in a hotel for seven months. So while unexpected, hardly worrisome.
The other unexpected expenses were incurred from purchasing a flight home in June for $354.00 that will be for me to run my Spartan Super with my best friend over the June 9th weekend. I also ended up buying two pairs of Adidas shoes on clearance for $70, a new iron from Amazon since my old one decided it was time to go to iron heaven for $60, and then had some medical stuff for $100. This all put me way over normal budget, but this is why we have emergency funds. I was a bit bummed on losing $860 to taxes though, that was money earmarked into going into my investment account.
Diving into my Roth IRA which is my second largest account behind my 401k I pulled in $258.90, a pretty solid month and a large increase over last year. In fact I was up 61.19% from the $160.31 that I accrued this time last year. I think that is a pretty amazing jump. The biggest driver was the increase of Bank of America’s dividend to $0.075 which has a pretty large impact since I have 1154.77 shares. Here’s where the income came from:
BAC – $83.33
O – $35.90
VER – $82.29
WPC – $54.38
My rollover IRA had a better than expected month, but I will refrain from getting too excited since VIG rolled it’s dividend that normally pays in March over to April. That being said the account pulled in $112.75 for me in passive income. Comparing apples to apples rather than oranges the actual increase was 31.24%, but that’s based on $19 going to $25 and the stock that I had SHPG I actually sold this month and reinvested back into VIG so that number will be even lower next year. Either way the account did pretty good:
BAX – $13.47
VIG – $87.71
SHPG – $11.57
Finally the account I’m most excited about, my investment account, the one that will let me eventually take the plunge and be fiscally free sooner rather than later. I had an 8.17% increase in this account from 2016 and pulled in $175.17 from:
MO – $76.33
PM – $57.18
MDLZ – $1.40
STAG – $12.68
GE – $27.58
In total my accounts generated $546.82 in the month of April in passive income. That’s a pretty solid number for a month and when I pull out VIG to compare to last year I’m up 12.76% from this time last year. What’s really telling is the overall number increase of 22.19% from this time last year in all of the accounts. I could not be happier with this result and 1/3 of the way through the year I’m averaging just over $500 per month in passive income. This is a first for me and definitely uncharted waters, but I can say that surpassing that number in just these accounts really makes me excited for the rest of the year. Now that I’ have seen how much my increase is percentage wise from last year I am shooting for 25% increase by midyear over my dividends from last year. I don’t think it’s out of the possibility to actually hit 30% by year end, but it all depends on what opportunities the market presents this year.