Another month down and another month closer towards financial independence! It feels good saying that, especially since I took a big step forward towards financial Independence last month. I completely wiped out my mortgage balance! It was definitely a bold and difficult decision to make since it required selling 75% of my portfolio but I’m still not looking back. The interesting thing about this move was that I was earning enough dividends per month to cover my monthly mortgage payment. I won’t hash this subject out any more then this however since I wrote an article explaining why I did it here.
Let’s get into the goods of this month. I had an outstanding month in terms of dividends received thanks to the residual exodus of my portfolio capital. I won’t be seeing months like this for a while. It’s going to take me some time to build my portfolio back up but I know I’ll be back their in no time and I’m hoping we see a nice pullback in the market soon so I can continue to build up some great positions.
Below is the list of companies that paid me out last month and the amounts I received.
I was paid out by 26 companies which totaled $744.74. This was a nice lump sum of residual dividend payments after I sold off 3/4ths of my portfolio. I anticipate that I’ll hover around the $200 - $300 per month. This isn’t a bad spot to be at but it definitely hurts not being at the $1,000 range. I anticipate I’ll be back around this range in no time however. hopefully just a few short years.
This is an interesting graph now because it shows where my portfolio balance was prior to withdrawing $150,000 from my portfolio to pay off my house.I’m still feeling 100% confident in this decision and let me tell you how great it feels to not have to make a mortgage payment this month. This is the first of many months and It’s going to continue to get better as time goes by and I continue to invest the extra capital back into my portfolio. At the beginning of the month my portfolio balance was $48,110. I was able to aggressively put my tax refund to work and also add some extra capital I had in my bank account to boost my portfolio value by $6,847 or 14.21%. This is a pretty nice start to getting my portfolio back into the $100,000 range. I’m not going to be able to maintain this high level of growth in my portfolio month over month but I’ll take what I can get.
The key to saving lots of money quickly is obviously not spending lots of money. I’ve been doing very poorly in this category however. My wife and I both needed new wheels for my car, all four of her cars brake pads needed to be changed, I just paid our 6 month auto insurance premium and we bought our self a kitchen table finally. So let’s just say I’ve been spending a lot of money these past few weeks and it’s really hurting. I don’t anticipate spending to much more money over the next few months however and I hope to be back into the $2,000 per month monthly spend range.
Here is a graph of my yearly spending so far. I’m going to get this sucker down into the $2,000 per month range so I can keep the money flowing into my Independence Fund.
As everyone can see, the fund is doing great, the money is flowing in and the account is growing! Everything is doing fantastic and i’m on track to get this sucker back into the $100,000 range in not time. I can’t wait for those days again! That’s all that I have for this month and I can’t wait to see what next month holds for me.