October’s dividend income:
W.P. Carey (WPC) – $14.48
Main Street Capital (MAIN) – $30.57
Realty Income Corp (O) – $11.02
Bank of Novia Scotia (BNS) – $15.81
Altria Corp (MO) – $68.05
Coca Cola (KO) – $3.68
Vanguard International Equity (VGK) – $4.60
Chicago Bridge and Iron (CBI) – $0.59
This is a 33% increase over the October income in 2014. It’s time to start preparing for January 2016, when our IRA accounts reset and we can begin contributing towards our annual $11,000 combined contributions split between our two private IRA accounts. I received a promotion this fall, which provides our family a few extra hundred dollars each month for investment as we see fit. With increase in pay, our work 401K savings plan automatically increased contributions as we have a certain percentage that is automatically deducted from each month’s pay. I’ve decided to increase that percentage from 1% of base pay to 2%, which with other contributions works out to about $230 dollars. This is nowhere near the $1500 monthly contribution that is necessary to reach the maximum of $18,000 a year for a 401K account, but it’s a start. Only $1300 more to go! As time progresses year after year we will increase our contributions and eventually reach that goal. Until then we’ll plug away at our personal IRA accounts, a Realty Income DRIP account, and an Acorns account.
Our Acorns account is up to over $700! Pretty good considering we started in March of this year. This account will continue to grow with each “round up”. For those unfamiliar with Acorns, this RoboAdviser takes the remaining cents of each linked account’s purchase and contributes that money from your bank account into a managed Acorns account. For example, if I buy a Coke for $1.29 at the store with my credit card, Acorns will take .71 cents from my checking account and put it in a pot. Once that pot reaches $5.00, Acorns makes a purchase in the automated investment plan I’ve selected for our account. Every once in a while I’ll receive a dividend in the account which is directly reinvested. For me it’s pretty much a worry free way of saving a little extra without thinking about it. I’ll pay taxes on dividends and distributions each year but with a small value I don’t expect to see a serious financial disadvantage to using this service.
Have a great rest of the weekend. Remember Paris in your Prayers.