Happy April Fool’s Day! I can’t believe we are in April and soon taxes are due (for most). I live in an area that is affected by severe weather this past winter (not personally), so my taxes are not due until October. I am hoping for a refund, but I won’t know until I do my taxes. I am pretty happy with my passive income in the first quarter though.
The stock market has been up and down and finally slowly recovering at the end of Q1. With interest rates being so high, my focus for 2023 is to invest all my cash in CDs and T-Bills, then use the earned interest to invest in the stock market. I will also continue to save more active income for a bigger down payment for a new house. I have no mortgage/rent since my home is paid off, so I am not in a hurry to buy that next home. I will continue to max out my traditional 401K and contribute an additional amount to the in-plan conversion to Roth 401k. I have decided not to contribute to my company ESPP this year, since I already have too much invested in the company. I also still have some stock option already vested that I need to sell before they expire in July.
| Amount (Jan-Mar) | |
| Dividend | $3,635.32 |
| Emergency Fund Interest | $2,496.19 |
| I-Bond Interest | $2,511.87 |
| Misc | $245.60 |
| 2023 Q1 Passive Income | $8,888.98 |
2023 Passive Income YTD = $8,888.98
My goal for this year is $3,000 per month or $36,000 passive income for the year. It’s a little ambitious but if the interest rate continues to stay high, I believe I should be able to achieve that. Inflation is slowly going down, so I don’t expect I-Bonds to do as well this year as last year. I am slowly moving my investments to T-Bills. I have to pay federal and state taxes with I-Bonds, but T-Bills are state tax free.
My dividend portfolio will be updated someday 😋.
Cheers,
Lady Butterfly
Cheers To Your Wealth! 