Road to $10 Million Update (Q3 2023)

I often always found deep inspiration in the simplest things. Such as a large wad of keys hanging down the side of my landlords’ jeans to observing a lone office light high up in the skyscraper reminding me that someone just like myself is burning the midnight oil, relentlessly pursuing their dreams.

Even something as unassuming as a movie I stumbled upon last week, titled “A Million Miles Away,” proved to be more than what I was expecting to be another run-of-the-mill science fiction flick but to my surprise resonated with a profound message about the significance of persistence, sacrifice, dedication, and generosity. If you’re in need of a motivational pick-me-up, I recommend giving this movie a chance, approaching it with modest expectations, just as I did.

Setting goals, tirelessly working to attain them, and then taking a moment to celebrate those achievements—this is a cycle worth embracing. The “taking a moment to celebrate” cant be emphasized enough. And, of course, let’s not forget that failure is an integral part of this journey. There’s no need to dread failure, instead, use it as a valuable teacher. Learn from your missteps, strive to improve, muster the courage to try again, and determine what methods work best for you. I believe everyone is wired uniquely, and there’s no one-size-fits-all approach to success.

Now, shall we break out that measuring tape?

Add 500 shares of QQQ to LBF Dividend Portfolio

Currently at 64/500 shares of the Q’s! 🤺

A nice sizable correction would be nice to help me accomplish this goal quicker but regardless I will slowly accumulate accordingly.

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

I like to give each and every portfolio a salary. The LBF Dividend Portfolio had a total net inflow of -$3,796.65 YTD (-$421.85 per month average) by the end of Q3. No salary for this portfolio thus far!

I anticipate potential opportunities and decided to secure some gains and increase my cash position in all portfolios including the dividend portfolio. It’s been VERY long since cash pays to have parked.

Reach a $50,000 Fundrise Portfolio

The dividends from this account were never reinvested since day one. It has been set up so the rental income lands directly into my checking account. I hope to increase my holdings here someday.

• iPO share price remained the same for the quarter. Currently, iPO investment gains are up 104.7%.
• Total combined value of Fundrise investments comes to $46,558.18 which is up 3.5% ytd.

The RE assets seem to be stagnating noticeably this year and likely will be affected further due to interest rates. There is a good change we can end the year flat or even with negative growth. I have no plans to sell rather anticipate adding more to the holdings if the opportunities presents itself. I support the team at Fundrise and going long on this platform. They are doing a great job.

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

Maintain steady portfolio growth between 6% to 12%

I’ve increased my holdings in small and mid-cap stocks. I anticipate that once the markets gain some clarity on when the war on inflation comes to an end and reach the peak of the Fed’s hiking cycle, that could result in a strong support and a potential sharp rally. My assumption is that the current stock prices already account for a modest economic downturn, and I don’t foresee a significant decline in stocks moving towards the end of this year. Unless, NVDA earnings come in below expectations and wreck havok on my total portfolio… 😂

Invest $200 per Month into M1 Growth Pie

The LBF Growth portfolio had a total net inflow of $1,824.38 YTD ($202.71 per month average) by the end of Q3.

If I were in my 20s, I’d adopt a highly aggressive approach to investing in growth stocks. I’d select a concentrated portfolio of no more than 10-15 carefully researched stocks, committing to them for the long-term. My preference would be for stocks with a projected growth runway of at least five years, and the longer the runway, the more appealing they would be.

I try to remind myself to invest into this portfolio with the mindset of someone starting to invest at an early age. Let’s find out how this little project turns out over time!

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! Keep in mind that the turnover in this portfolio is relatively high, so the performance figures won’t accurately represent my personal performance. Instead, they will merely display the current holdings within the portfolio as of writing this post.

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

So far so good! However, I expect the last quarter to see quite a bit of negative cash flow due to several events coming up such as a wedding, vacations, potential large purchase and another large home improvement project. 😶‍🌫️

Increase annual income by 6% every year

I just need 6% and anything above it I am more than grateful for.

Maintain long term average savings rate at or above 30%

Simplicity is key. PFSR is one of few important metric for gauging the prosperity of your post retirement life. Abiding by one of the most fundamental principles of not spending more than what you bring in, this foundational rule to building wealth held true prior to attaining FIRE and remains equally important thereafter.

Maintain beyond FIRE net worth growth average above 6%

Net worth YTD: +16.4%

I can’t complain as the gains are holding steady. But there are some looming concerns that may bid farewell to these gains if bond yields continue their sharp upward trajectory. Many are even speculating that we may even reach 7% in bond yields. That would wreak havoc on asset prices in which at that point we can kiss the odds of a soft landing goodbye.

In light of where we are today, I still expect a sideways market when we look back years from now. Personally, I believe that yields may reach at most 6% briefly and are likely to retreat back down.

ETA 10 Million

Taking into account current trends, projections, and expectations for future growth, the estimated time frame to achieve a $10 million net worth is as follows:

Number of years to reach $10 million net worth:

Best case to Worst case: 16 to 31 years

By what age?

Best case to Worst case: Between 59 and 74

With a few tweaks here and there, the goal has been extended by another year. I remain undeterred. My passion for lifelong learning naturally fuels my desire to become a better investor with each passing day. The intricacies of the world fascinate me, and every bit of understanding gained feels like soothing an elusive itch I’ve yearned to scratch. But for the sake of people around me, balance is key!

At one point, my plans are to set sail ⛵ and begin a vacation that does not require an end. 🌴

Q3 update logged and completed! LBF signing out! 🫡