Meager Income

Pay Off Debt, Retire Comfortably on Meager Income, Win the Lottery, Not Necessarily in that Order

July 2021 Dividend Income

Posted on | September 8, 2021 | No Comments

In July, I received $398.93 in dividends and applied the money toward the principal payments. The tables below list the stock and dividend amounts received.

 

This is Mortgage Payoff Fund 2, I was going to use the money to recast the loan but decided to buy dividend stocks instead and use the income stream to send extra principal payments each month instead.  I received $144.88 in dividends in July. Read more

 

My goal for the Mortgage Payoff Fund 1 is to average $250 in monthly dividends.  This month I exceeded my goal by $4.05.

Mortgage Payoff Fund 1
Date Stock Amount
7/1/21 DX 4.55
7/6/21 IRM 61.85
7/7/21 AEG 14.60
7/8/21 MPW 7.00
7/9/21 MO 43.00
7/14/21 VTR 11.25
7/15/21 BXMT 31.00
7/15/21 SLG 9.10
7/15/21 STWD 12.00
7/20/21 CMO 15.00
7/23/21 SPG 4.20
7/26/21 EARN 12.00
7/28/21 ORC 6.50
7/30/21 NLY 22.00

 

This is Mortgage Payoff Fund 2, I was going to use the money to recast the loan but decided to buy dividend stocks instead and use the income stream to send extra principal payments each month instead.  I received $144.88 in dividends in July. Read more

Debt Update for August 2021

Posted on | August 30, 2021 | No Comments

Last month, I was able to reduce my principal balance by $750. The new balance is $187,000. July was a good month for dividends. In total, I received $398.93. I will provide a list of the dividends received in a future post.

Here is a chart of my debt balance this year: Read more

July 2021 Dividends – CMO

Posted on | July 20, 2021 | No Comments

CMO
Capstead Mortgage Corporation
Ticker: CMO
Recent high: February of 2020 – 8.27.
Current price on 7/19/2021: 5.92

CMO Profile from their website (http://www.capstead.com/):
We are a Real Estate Investment Trust that invests in U.S. government-backed, adjustable-rate residential mortgage securities on a leveraged basis. Formed in 1985 and based in Dallas, Texas, Capstead’s securities are listed on the New York Stock Exchange. We hold the distinction of being the oldest of the publicly-traded mortgage REITs.

I made multiple purchases between 5/21/21 and 6/11/21. My average cost is Read more

June 2021 Dividend Income

Posted on | July 15, 2021 | No Comments

In June, I received $152.36 in dividends and applied the money toward the principal payments. I received the following dividends:

 

My goal for the Mortgage Payoff Fund 1 is to average $250 in monthly dividends.

Mortgage Payoff Fund 1
Date Stock Amount
6/1/21 DX 9.75
6/1/21 WFC 3.00
6/3/21 MAC 3.75
6/4/21 LYG .81
6/10/21 XOM 8.70
6/11/21 LUMN 25.00
6/15/21 SLG 9.10
6/17/21 PRU 11.50
6/18/21 BP 7.88
6/18/21 NAT 1.90
6/21/21 RDS 1.74
6/28/21 ORC 6.5
6/30/21 ARCC 10.00

 

This is Mortgage Payoff Fund 2, I was going to use the money to recast the loan but decided to buy dividend stocks instead and use the income stream to send extra principal payments each month instead. Read more

Debt Update July 2021

Posted on | July 14, 2021 | No Comments

I’m continuing to chip away at my debt. Currently, I owe approximately $187,750 in combine mortgage debt with an average interest rate of 3.25%. I was considering refinancing the loans but the proposed interest wasn’t low enough for it to make financial sense to do so. I still want to get rid of the loans ahead of schedule so I’ll continue to pay down the principal on a monthly basis with dividends I receive from my Mortgage Payoff Fund.

Here is a chart of my debt balance this year: Read more

July 2021 Dividends – SLG

Posted on | July 14, 2021 | No Comments

SL Green Realty corp
Ticker: SLG

Recent high: February of 2020 – 97.81.
Current price on 7/14/2021: 77.52

SLG profile from Wikipedia:
SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet. Notable properties owned by the company are One Astor Plaza, One Vanderbilt, 461 Fifth Avenue, 810 Seventh Avenue, 919 Third Avenue, the Pershing Square Building, and Random House Tower.

I first heard of SLG over 5 years ago when it was trading as high as $120. Read more

My Mortgages

Posted on | March 20, 2021 | No Comments

My goal is is to be free of debt when I retire. I’m currently focused on paying down my mortgage which consists of two loans. The combined interest rate is fixed at 3.25. If I were to adhere to the amortization schedule the last payment will be due in 2044.

Due the drop in interest rates last year, I explored refinancing the loans but decided it wasn’t worth it in the end.

I explored three options. Option #1, refinance mortgage #1 and and keep the current terms on the second loan. Option #2, consolidate the loans. Option #3, recast mortgage #1.

Read more

$5000 a year will make you almost a millionaire in 30 years

Posted on | January 18, 2018 | No Comments

A recent article posted on the CNBC site caught my attention. It was an interview with Billionaire investor Ron Baron. He stated that everyone can become wealthy investing in the stock market. A person just has to invest a small amount regularly for a long time and then live a long time. Compounding will do the rest.

He calculated that investing $5000 a year for 30 years it will grow to $890,000 based on historical stock market returns.  Investing for just one decade it would become $110,000 and 20 years $250,000.

I started in Feb 2015 so by 2045 I should have $890,000.  Let’s see how I compare over time.

April 2015 Spending

Posted on | May 26, 2015 | No Comments

I’m finally getting around to summarizing my spending for April.  Last month, I finally fixed the brakes on my car.  I might have been able to hold out a little longer but I didn’t think it was worth it to drive around and risk potentially rear-ending another vehicle.  I also want to have better control over my frivolous spending which was too high.  I definitely need to work on getting my discretionary spending under control.  Other than those two line-items, the rest seemed about average.

Here are my totals for April:

Read more

Waiting for my tax refund

Posted on | April 9, 2015 | No Comments

I’ve now submitted by taxes for both Federal and State bringing 2014 to a close.  I tend to procrastinate  (even when I’m anticipating a refund) and find myself rushing to get them done at the very last minute.  I surprised myself this year and I actually finished early.  Now I’m just waiting for my refunds to be deposited.  I already contributed to my Roth for 2014 otherwise I would be scrambling to get the money submitted on time.

I’m already trying to figure out how to spend my refund.    What a fantastic problem to have!  I have approximately $4500 in outstanding debt that I want to pay off by the end of this year.  Paying off the loan early would free up about $400 a month in cash flow.  The interest rate on the loan is less than 5%.  Unfortunately, my refund won’t cover the whole loan amount but it will definitely help offset it.  On the other hand, I could buy a dividend paying stock and that would also help lessen the cost of the loan.

I’m excited to be getting close to paying off this debt. Once this is out of the way, I can automate more of my savings.  I’ll keep you posted on the progress.

 

 

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