I have many resolutions set up for this new year. I have resolutions set up for my health, my professional career, my image, my photography, and most importantly, my pursuit towards financial independence.
Yes, financial independence. It seems like it is all I’ve been talking about in the past couple of months on my blog, but traveling is on the backburner until I get vaccinated. I will wait patiently for my turn.
One resolution that I want to accomplish by the end of this year is to earn an average of $500 a month in dividends from the stock market, which would be a big jump from the current average of $150 a month in dividends I am earning at the start of 2021.
So how am I going to pull this off? Well, let me tell you.
I am planning to inject a lot of cash I’ve saved and earned throughout last year (from lack of traveling, working side gigs, selling junk that I no longer want, and a bit of asset management) into my stock portfolio in the next few months. I’ve been holding quite a bit of cash for a while now, thinking the stock market would drop at some point… but I’ve decided that I am no genie and I cannot predict how the stock market will go.
It’s unfortunate because if I had invested all this extra cash into the market, I would be further along. I kept telling myself, “What in the world… why is the stock market going up when the economy is in terrible shape?!” At this point, it makes no sense and it is time to pull the trigger and just do it.
Now earning an average of $150 a month from dividends.
Passive income is what leads you to financial independence.
I will share how I progress and will share which companies I invest in. I’ve had some of you ask me for my entire portfolio layout and I will post it soon! Stay tuned.
P.S. = I know I’ve mentioned this several times in past posts, but I have to bring it up again. I know talking about money and sharing the numbers above might come off as bragging to some. That’s not the intention. If I can do this, you can too. I hope that when I share my progression to financial independence, it will motivate you to do the same. It is an incredible feeling to finally have control of your money rather than grind at work and not know what you should be doing with the excess money you save.
