September is a month that will go down in the history books as the first month that I broke $100 received in dividend income! This is a major number to me, and a major step down the road towards achieving my financial independence!
$100 may not seem like much to sum but, given that I did absolutely nothing to earn this money but simply be a shareholder for corporations makes me so happy! I wish I would have started investing in dividend paying stocks years ago.
This is truly the best feeling to sit back and watch the money roll in!
What makes me even more excited is that this is simply the beginning of my journey of success. I hope to look back on this post one day and realize where I started from ans the journey I have taken to get to the point I will eventually be at!
For some who may not know what my goals are, I plan on retiring at a very young age. I will have a paid off house and car so the only things I will really need to spend money on is wonderful property taxes, insurances food and utilities. I currently estimate that I will be able to achieve all this goals once I hit age 35. That age is my goal but, I may not mind working a little while longer if need be and exit the rat race at 40. Although, this my absolute highest number that I wish to truly achieve financial Freedom! I'm going to achieve my goals by maintaining a high savings rate of 45%-60% of my income on a month to month basis. My goal is to completely substitute my annual salary with dividend income so I can continue to live my current lifestyle but without the need to work. I started this website on a way to track my journey all the way from beginning, middle and end. Most success stories that we hear about don't have enough meat and potatoes to explain how that person really achieved their goals. I'm going to document every thing that I do in regards to my financial situation to keep track of my progress and experiences.
Now lets looks at the Dividends I received this month!
09/01/2016 DIVIDEND RECEIVED FORD MTR CO DEL COM (F) $47.55
09/01/2016 DIVIDEND RECEIVED WELLS FARGO (WFC) $18.24
09/06/2016 DIVIDEND RECEIVED JOHNSON & JOHNSON (JNJ) $6.40
09/06/2016 DIVIDEND RECEIVED WAL-MART (WMT) $22.50
09/09/2016 DIVIDEND RECEIVED EXXON MOBILE (XOM) $8.25
Total Dividends Received in August 2016 $102.94!!!!!!!!!
I'm so happy to have broken the $100 milestone in just 8 months of beginning this journey! My next goal is going to be a big one and that is going to be to break the $200 mark. I'm really looking forward to that day and am counting down the time till I write that article.
The only other goals I have set for my self are to break $1,000 In total annual dividend returns and to have a balance of $20,000 in my Independence Fund. I know for sure i'm on track to breaking the 20k mark but i'm not sure that I will be able to make it the 1k goal as that represents a rather aggressive yield percentage for a portfolio of 20k.
I have my eye on a few stocks this month and will hopefully be making two very nice purchases. My plans are to add to an existing position and pick up a new position in a company.
How is everyone else portfolios doing? Did you receive and good dividends or returns last month?
Image courtesy of Gualberto107 at FreeDigitalPhotos.net