At the end of each month I will be writing about the
earnings I receive from dividends and Interest.
The dividends I receive each month are from the stocks that I have
invested in. And the interest is what I earn each month from my savings account
from a reputable online bank with a .90% annual percentage yield. In the future I will be writing an article
about why it’s important to keep money in a savings account that offers a
higher annual percentage yield. Now let’s take a look at the extra income I
earned from my savings account and stocks.
|
Stock/Bank Account
|
Earnings
|
|
ConAgra Food (CAG)
|
$4.50
|
|
Summit Income Properties (INN)
|
$4.50
|
|
GE Capital Savings
|
$6.28
|
|
Total
|
$15.28
|
What is the big deal here? I only made $15.28 for the month
and I know that’s not a lot of money. I could have worked an extra hour at work
and received the same amount. Yes that is a true statement but I will tell you
that I am getting tired of having to work overtime. I want to spend more time with my friends and
family. Yes I could have worked an extra hour for the month but instead, the
money I invested made that extra money for me. I would much rather be hiking in
North Conway, NH or relaxing in Lake George, NY then having to work extra hours
in order to save a buck. This is the beginning of my journey to financial
freedom and I still have lots of work to do. Below is a chart which will show
you how much of my expenses were covered from the money I earned. I can’t wait to have another solid month in June!
And so every journey starts, with a single step. Just keep on building that portfolio and over time the compounding will seriously start to make a difference.
ReplyDeleteA great start!
Best,
DW
Keep saving and investing...before you know it, you'll be cruising past those milestones. Best wishes for continued success! AFFJ
ReplyDeleteThank for the support. I can't wait to watch my portfolio grow as the months and years pass. I have gained a ton of knowledge from other bloggers such as yourselves and I continue to grow as an investor. I can't wait to see what my earning are next month. Good luck investing!
ReplyDeleteAt the very beginning the amount received may look small, but wait in a few years it will grow up and that growing process will be faster and faster like a snowball rolling down the hill will be getting bigger and bigger and all that due to a great power - compounding. If you continue saving and investing diligently every month, even a small amount, in a few years you account will grow. I started three years ago with just $2k account. Today, the account is at $18k mark. Once it starts rolling, it goes very fast. So keep up the good work and you will be surprised how fast it will go as soon as you move that investment train of your up to its full speed. I also like your attitude towards saving and creating a passive income rather than working a few overtime hours. Good luck!
ReplyDeleteMartin,
DeleteThank you for your words of encouragement. It's been very tough on me working 50+ hours a week. Even though I am still at a ripe age of 29, my body is not getting any younger. I am happy to be sharing my journey with everyone and I am hoping to continue on the same path. I have noticed the power of compounding in my savings account. That's why its so important to start investing as early as you can. Sometimes I feel like I am behind but I still have plenty of time to catch up. Thanks for stopping by! Good luck to you and your investments!