January 2023 Update
Hello everyone, thanks for joining us on our retirement journey while we continue to build our income-generating portfolio.
January was a good month for us since many of the companies we own pay dividends on this schedule.
In total, we earned $3,923.84 from dividends this month, with our biggest money makers being the Bank of Nova Scotia, TD Bank, and TC Energy. Combined they account for 55% of this month’s income.
This represents a 20% YoY increase and the income is split up in the following manner:
$501.64 tax-deferred
$1,282.25 tax-free
$2,184.95 taxable
On January 3rd, we contributed the full $6,500 to our TFSA accounts and purchased…