Another good month for dividend income considering the pandemic issues we are facing right now. I received my last dividend from Ford for a while as they cut their dividend completely.
Ford Motor Company (NYSE:F) suspended its dividend and borrowed billions of dollars from its existing credit lines, as it prepares to shut down most of its factories in North America and Europe.
It looks like a good time to dollar cost average investments as stocks are at bargain basement prices right now.
I believe in buying and holding dividend paying stocks forever as long as the dividend is not cut completely or the company fails in some way. I invest in high quality stocks with a proven track record of paying increasing dividends year after year.
I am partially retired right now, but I have a side hustle business in the technology field which pays all of my bills so I don’t need to touch any of my dividend income. I live a modest lifestyle and my monthly overhead is only about $1300 a month. I am always planning for the next stage of my retirement.
Any unused or additional money goes into a high interest savings account. The Feds just lowered interest rates so my American Express Personal Savings account dropped to 1.6% interest from 1.7%. Not too bad considering the Fed Rates are almost zero now.
The Federal Reserve made another emergency cut to interest rates on Sunday, slashing the federal funds rate by 1.00 percent to a range of 0-0.25 percent. The Fed is trying to stay ahead of disruptions and economic slowdown caused by the rapidly spreading coronavirus. Mar 15, 2020
I recommend tracking your portfolio, I use Personal Capital which is great for tracking dividends, stock holdings and expenses all in one place. You can get a Free Personal Capital account and get $20 for just signing up.
|Non Retirement Account for March 2020 – Dividend Income|
|2020-03-31||Ltc Properties Inc-dividend||26.79|
|2020-03-31||Vanguard Federal Money Market Fund (settlement Fund)-dividend||0.76|
|2020-03-27||Bp Plc Spon Adr-dividend||37.96|
|2020-03-16||Stag Industrial Inc-dividend||44.15|
|2020-03-13||Realty Income Corp-dividend||121.56|
|2020-03-10||Johnson & Johnson-dividend||107.25|
|2020-03-02||Ford Motor Co New-dividend||33.02|
|Subtotal||Non Retirement Account for March 2020 – Dividend Income||544.05|
|Retirement Account for March 2020 – Dividend Income|
|2020-03-31||Vanguard Federal Money Market Fund (settlement Fund)-dividend||0.02|
|2020-03-25||Vanguard Total Stock Market Index Admiral Cl-dividend||634.09|
|2020-03-13||Realty Income Corp-dividend||34.35|
|Subtotal||Retirement Account for March 2020 – Dividend Income||668.46|
|Total||Non Retirement and Retirement Dividend Income for March 2020||1212.51|
I recommend having an emergency fund with at least 3-6 months in it. I personally keep 1-2 years worth of reserves for emergencies.