Will I get to my $1000 goal?

As of today, I am 38.4% towards my goal of $1000 of passive income (dividends) for the year 2013. Back in the year 2011 I received $379. In 2012 I increased that 71% up to $649. In 2013, I’m hoping for slightly more than a 50% increase. The current problem is that I missed out on the majority of the first quarter dividends because I bought the stocks after the ex-dividend date. I had switched away from the majority in a single dividend focuses ETF (SCHD), which is continuing to perform very well, into individual stocks.

2013 Dividends Remaining (not including minor effects of dividend reinvestment)

Symbol # of Dividends Remaining Amount
AAPL 2 $54.90
AFL 2 $40.85
AVA 2 $90.28
BMY 2 $48.12
CSCO 3 $53.04
CVX 2 $50.41
HRS 2 $35.78
KMI 2 $76.72
SCHA 2 $19.27
V 2 $9.90
WFC 2 $48.96

This comes out to a total of $528. This means that as of today my anticipated dividends for 2013 will be around $912. That comes out to $76 a month, which is not too shabby for not doing any work. It would be enough to pay for my monthly utilities or my Internet bill (but not both yet). Provided I don’t buy more stocks, I would still have a nice increase in dividend income over last year but would be about $100 short of my goal. I’m not just sitting back, though. I will be contributing $1,100 to my Roth IRA and will be saving around $450 a month having just moved into a new apartment.

Here’s what I would need to invest in order to reach the $1000 goal: Assuming two dividend payments remaining, at a 2% annual dividend, I would need to invest $8,800; at 2.5%, $7,040; at 3%, $5,867; and at 4%, $4,400. Given that any stocks that I buy over the next few months would only payout one or two more times this year, it might be kind of hard to reach the goal. It certainly did not help that I just recently put $2,700 into Visa, a growth stock that (right now) pays a paltry 0.72% dividend. One stock that I’m looking at is Brookfield Infrastructure Partners, L.P. (BIP) with a 4.693% dividend. I also have a few others in my watch list including MCD, KO, and INTC. I don’t anticipate any huge expenses remaining in the year 2013 so hopefully I’ll be able to invest everything after expenses.

Full Disclosure: Long AAPL, AFL, AVA, BMY, CSCO, CVX, HRS, KMI, SCHA, V, WFC

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