2016 Passive Income Coverage

With another year behind me, I'm another step closer to financial independence and retirement.  For me, there's a difference between financial independence and retirement.  Financial independence is the point in which you no longer need to work to survive since your investments can cover your living expenses.  With financial independence, I can still choose to work if I want to.  On the other hand, retirement is quitting the workforce and no longer working.

For me, my goal is to reach financial independence ASAP and aim to retire by the age of 56 in 2041.  I still have a while to go before retirement, but I'm hoping to quickly get to the point where my passive income can cover all my expenses so that I don't need to worry about supporting my family in case I get laid off (God forbid).

For purposes of my "Passive Income Coverage" posts, I will only consider my dividend income and rental income.

Below are my dividends and rental income for 2016:

Monthly Report: December 2016

I know I'm a little last in posting, but better now than never.  First off, Happy New Year to everyone!  Hope everyone had an enjoyable 2016 year.  2016 has been a great year when I reflect back on my accomplishments.  Kicking off the year, it's been really busy with work and responsibilities at home.  I'm looking forward to 2017 now that the mortgage has been paid off and I have continued vigor to aggressively build my passive income while simultaneously trying to make sure I enjoy life's journey along the way.

Anyways, without further ado, below is the monthly report as of December 31, 2016:

Bought On Loyal3: VFC

I made one last purchase on Loyal3 before the 2016 year was over.

What I love about Loyal3 is you can invest with as little as $10 in a selection of companies and own partial shares.  This really helps investors with little to no capital get a foot in the door without commissions eating up a certain percentage of their new capital.  The only downsides are that there is a limited selection of companies you can pick from and they don't offer dividend reinvestment plans.  That's fine with me since they have some good dividend growth companies I can invest in at zero cost.