Recent Buys (SJM & MMM) and the $12K Milestone

I am super excited to post my recent buys (SJM and MMM) and that I crossed the $12K milestone. I have been awaiting this with great anticipation all year long. Now I have officially crossed the $12,000 mark in forward yearly dividend income! In other words, I will be receiving an average of over $1,000 per month in dividends going forward. This is my 7th year of actively investing in the stock market and this milestone was a major one.

Indeed, this has turned out to be a great year for milestones. It was in January 2021, that I first cross the $11K mark. Within 12 months I crossed the major $12K milestone!

My recent buys are what pushed me over the edge in achieving this milestone. First, I bought 8 shares of SJM which added $31.68 in dividend income. In total, I now own 28 shares of SJM which equals $110.88 in yearly dividends. Lastly, I bought 6 shares of MMM which added $35.52 in dividend income. In total, I now own 25 shares of MMM which equals $148.00 in yearly dividends.

All in all, these recent buys added a total of $67.29 in dividend income to my portfolio. Hence, I achieved the $12K milestone!

Honestly, since I started my job nearly 4.5 years ago I had $12K on my mind. Back then when I started my job, I only made a bit over $7000 in dividend income yearly (just below $600 per month). The idea of earning $1000 per month was still such a way off dream. But now that dream is a reality. How about that? Save, invest, and repeat. That was the magic formula. Over the years, you witness the snowball grow before your eyes. Dividend growth investing works!

Granted now, this is a very fragile $12K. I am just over the mark by $35 and one dividend cut would probably send me back under. However, this is still a great achievement and by my next stock purchases a couple months from now, I will have a stronger buffer. Not to mentioned, I am still expecting more dividend increases before the year ends.

My portfolio is now set to generate $12,035 over the next 12 months! So, what is the next major milestone? The next one is the $15K mark. Therefore, the equivalent of $1,250 per month. Sure, there will be smaller milestones along the way, but $15K is actually quite important for me. At that amount, dividends would cover all my monthly expenses with some cash left over (based on my current monthly expenditures). By simple definition, that is financial independence!

Thus, concludes my recent buys (SJM & MMM) and the $12K Milestone! This is exciting! My dividend income continues to grow each year as I build my dividend dynasty!

So, what do you think of my recent buys? Do you have any major milestones you are looking forward to crossing? Or have you crossed them recently? Also, do you own MMM or SJM?  Let me know in the comments below!

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