• Forward dividend income is up to $542.12.

• Projected annual dividend income is up by $17.20 since the January report.

• $22.49 has been added to annual dividend income so far in 2019.
• $257.88 more will need to be added in order to reach the goal of at least $800.

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Dividend income is up another $17.20 since the previous projection on January 14, 2019.

This was a result of the $339.28 that was put to work as reported in the dividend income update for January. The funds invested were from a combination of monthly savings and dividend income. 

Altogether forward dividend income is up to $542.12 annually.

$257.88 to go to reach the $800 Target

I’m going to have to step it up to reach the target of $800 I set. 

In turn, I recently increased my contributions to my employer share purchase plan. This should result in a higher amount of savings overall because of a matching contribution up to a certain percent. You can expect to see an increase in savings show up in the next monthly savings report. 

In addition, I will make an effort to increase savings on a month over month basis, and I will carefully select dividend stocks that increase their dividends on an annual basis. I am already expecting more than $30 worth of this year’s dividend income to come from dividend raises.

Financial Independence Progress Update

Overall I am 2.89% to target on my goal to earn $18,727 annually.

This figure originally started at $18,000 but is being increased annually to offset inflation.

Obviously I am a long, long time away from reaching financial independence. This is why it’s important to enjoy the process.

Furthermore, I am only in the 3rd year of building my dividend business, and this is part of an escalating plan.

I am focussed on consistent savings while simultaneously eliminating debt. However, in approximately 2 years from now, my student debt will be gone and the plan will shift completely to saving money.

Ideally I’ll have built a 4 figure dividend portfolio by this time, so I’ll be able to ramp up the dividend income through a combination of higher savings and reinvesting dividends.

Forward Dividend Income Projection – February 2019 – Concluding Thoughts

In summary, dividend income is up to $542.12 annually and $22.49 has been added so far in 2019.

On average the portfolio now generates $45.18 per month.

Although February’s income is expected to dip compared to January, March and April should both see dividend income reach new highs.

Moreover, I will need to keep my foot on the gas to push total projected income past the $600 annual range. I am looking forward to seeing how accurate the targets for 2019 really were.

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