Yet another month down in the books and I couldn't be more excited to move on into November. Every month I get excited to record and post about how my Independence Fund has come along over the previous month. I've had an interesting month in terms of fund volatility and my holdings have been shaken up a bit.
Two of my holdings also provided me with the very joy one experiences while on the dividend investing journey. My two holdings VFC and ABBV both announced dividend increases averaging a 10.5% increase. This is 6 times the average growth rate of inflation and it's music to my ears. Between the two companies I received an increase of $14.80. This increase would be equivalent to an addition of $350 into a fund representing a 4% yield. Whats truly amazing is that I didn't have to work any harder to receive this increase and I'll gladly accept this addition into my holdings.
This increase affected my income from these companies. Dividend increase from VFC 9.5% or an annual increase of $6.30 and ABBV an 11% increase of an annual increase of $8.50
I had a very nice month in terms of dividend income received also for an off month. I received $70.02 in dividend income and also my first monthly payout ever from MAIN. I'm still really liking this new position and it's monthly income will only help compound quicker to snowball these dividends even more. I also Broke a big milestone for myself personally. I officially broke the $1,000 in dividends earned in a single year mark! This is a very big and exciting thing for me since this is no small number.
I had very minimal Fund activity last month due to fund restrictions and not really having much to do beside read news articles and make a few additions. I have been really challenged to add a 20th company to my portfolio as I have had a lot of companies In my portfolio that have sold off a bit and I decided to add to them instead. I've also learned a very valuable lesson after my latest addition to OHI. Next time I will wait till earnings release if they are right around the corner as I'm sitting pretty red with my addition.
October Expenses = $3,060
Expenses this month were a lot higher then I have been coming in at due to having to pay my car insurance premium on this cycle. This did hurt me a bit because I didn't have all the capital needed to cover it completely and I did have to eat into my the extra money I should have been able to invest into the Independence Fund.
Next year will be better however since I have bumped up my monthly savings from my Paychecks that direct deposit right into my Ally savings account that I use as my escrow and car insurance holding account.
I plan on getting right back on track with my monthly expenses which are typically in the $2,000 range. I do expect this number to rise a bit higher however due to the holiday season and also I have a few purchases that must be made such as a new vacuum and dish washer.
My fund really took a beating this month and really hampered the large amount I was flexing during the middle of October. A few of my key holdings took some massive loses which led to my fund only increasing in value by $1,574 or 3.54%. Despite these loses my account average monthly growth is right on track at $2,326 per month. I also expect to be able to shuffle a decent amount of funds into my portfolio over the next month due to my company stocks being granted, company bonuses and my diligent saving skills.
I really hope to knock this year out of the park and hit all of my goals. I feel that I'm making good progress but all these loses are definietly making it challenging to break my goal of hitting $50,000 by years end.