Last year, many investors experienced significant losses in their portfolios, particularly in the tech sector, which had previously seen astronomical gains the year prior. However, the new year brought a massive rebound in tech, highlighting the importance of staying calm and focused on the long-term. During periods of volatility, it’s easy to let emotions cloud your judgement and make impulsive investment decisions that could harm your returns.

As a long-term investor, it’s essential to focus on a company’s potential for sustained growth rather than short-term gains. Investing is a marathon, not a sprint, and there will inevitably be bumps in the road.

So, stay calm, focused and onwards with the baby steps!

 

My Baby Steps Towards $10 Million

Investments Goals

• 2023-1: Add 500 shares of QQQ to LBF Dividend Portfolio
• 2020-3: Invest at minimum $1,500 per month into the dividend portfolio.
• 2020-3: Reach a $50,000 Fundrise Portfolio.
• 2020-5: Maintain steady portfolio growth between 6% to 12%
• 2021-9: Invest $200 per month into M1 Growth Pie.
• 2020-3 to 2022-11: Generate $10,000 in dividend income
• 2020-6 to 2021-9: Invest $100 per month into M1 Growth Pie.

Income, Cash Flow, & Saving Goals

• 2020-3: Achieve positive cash flow every month of the year.
• 2020-5: Increase annual income by 6% every year.
• 2020-6: Maintain long term average savings rate at or above 30%.

Net Worth Goals

• 2020-6: Maintain Beyond FIRE Net Worth Average above 6%.

 

Add 500 shares of QQQ to LBF Dividend Portfolio

I now own 37 shares of the Q’s with 463 more to go! 🤺

 

Invest at Minimum $1,500 per Month Into The Dividend Portfolio

I like to give portfolio’s a salary. The LBF Dividend Portfolio had a total net inflow of $8,853.70 YTD ($2,951.23 per month average) by the end of Q1.

 

Reach a $50,000 Fundrise Portfolio

• No updates to the Fundrise iPO share pricing for the quarter.
• Total combined value of Fundrise investments comes to $46,646.70 (Slightly down since last quarter.)

Fundrise just came out with a new service called “Fundrise Pro”. It allows you to build your own custom investment plan, invest directly in specific funds, and provides access to expert level market data. It’s a paid service costing $10 per month or $99 per year. I have not joined the pro service yet but do plan on exploring the service at a later date.

Interested in Fundrise? Sign up using my referral link and get started!

 

Maintain steady portfolio growth between 6% to 12%

The first quarter ended strong with total investments up about 20%. However, my expectations for the remainder of this year is high single to low double digit returns.

 

Invest $200 per Month into M1 Growth Pie

The LBF Growth portfolio had a total net inflow of $617.06 YTD ($205.68 per month average) by the end of Q1.

The changes I make to the pie are not updated on links from prior posts so if you are interested here is an updated link to my M1 LBF Growth Pie!

Sign up using my link and we both get $100 to invest! Sign up with M1 Finance!

 

Achieve positive cash flow every month of the year

I managed to achieve a positive cash flow in March this year, but it was a close call. 😌

Increase annual income by 6% every year

YOY income is up 6.6%. Right in line with my target.

 

Maintain long term average savings rate at or above 30%

If you plan to retire early, it’s crucial to have a solid savings rate target for the post-FIRE period. Mine is 30%, and I’m happy to report that I’m on track to meet this goal this year!

 

Maintain Beyond FIRE Net Worth Average above 6%

Net worth YTD: +7.5%

You win some, you lose some. Not every year’s gonna be a winner, so it’s important to be realistic about what you can expect in life. As long as I’m not doing anything stupid, I think my net worth will keep growing over time. If I can average around 6% growth in the long run, I’ll be happy with that.

 

ETA 10 Million

Based on current trends, projections and expectations for future growth, my best to worst case scenario towards a $10 million net worth will be the following:

How many years will it take to reach $10 Million net worth?

Best case to Worst case: 17 to 33 years

By what age?

Best case to Worst case: Between 59 and 75

 

The recent run up in asset prices has helped accelerate my progress towards my goal by a few years! It’s fascinating to witness the power of compounding. In fact, I would like to share with you a remarkable book that I stumbled upon recently, which I found to be an excellent read. It encapsulates many of my life lessons in a single book, and I will add it to the recommendation page. I do not recommend many books, but this one is truly exceptional. A must read for not only investors but anyone!

Well thanks for reading and that’s a wrap! 🍻