Portfolio Goal
The first goal of this portfolio is to earn enough passive income to pay my basic expenses such as electricity, water & sewer rates, basic house maintenance, gardening, health insurance, basic food etc.
My basic living expenses are currently around $30,000 per year and I’m fortunate to have paid off my house loan a few years ago.
In order to earn 30k per year, or $2,500 per month I need a portfolio around 500-600k of high dividend paying stocks.
Portfolio Summary
In July I sold out of my MOT and MXT leaving a nice cash stash to redeploy in other income earning opportunities.
I added more to current holdings and added a new private credit stock.
- Added 1,476 shares of Gryphon Capital Income Trust (GCI)
- Added 3097 shares of Qualitas Real Estate Income Fund (QRI)
- Added 436 shares of KKR Credit Income Fund (KKC)
- Bought 2,415 shares of 360 Capital Mortgage REIT (TCF)
Current Portfolio Composition
| Company | Quantity | Cost | Market Value |
| Cromwell Property | 6,409 | 3,021 | 2,660 |
| GCI | 7,354 | 14,967 | 14,928 |
| KKC | 5,210 | 11,974 | 12,243 |
| PLATO | 54,192 | 59,990 | 66,114 |
| QRI | 29,494 | 52,901 | 52,634 |
| TCF | 2,415 | 13,155 | 12,920 |
| Total | 156,008 | 161,499 |
July 2024 Dividend Income
My portfolio generated a total gross income of $1,393.43 for the month of July.
This also includes interest on the cash component.
Fisrt dividend payent for TCF will be in August.
- GCI: $122.22
- KKC: $79.73
- PL8 $425.80
- QRl: $336.70
- Interest: 441.43
The year to date dividend income has reached $7797 at the halfway mark for 2024.
Portfolio Analysis & Future Outlook
Cash is still large part of the current portfolio, good thing banks are currently paying over 4% with no conditions.
And still quite a bit to go before reaching the monthly target of $2500.
Wrapping UP
I hope sharing these updates provides inspiration or at least curiosity for readers considering their own passive income strategies. Whether you’re planning for early retirement or simply seeking greater financial independence, dividend investing offers a path to building wealth and generating income with minimal ongoing effort.
Happy investing!
Note: This update represents my personal investment approach and should not be considered financial advice. Always conduct your own research or consult with a financial professional before making investment decisions.