Dividend Portfolio Update for August 2024

This month, the stock market presented a rare opportunity that I couldn’t let slip by. The Nasdaq took a sharp 13% dive, offering a brief window to scoop up some of the stocks I’ve been eyeing for a while. I always make a point to buy during market corrections, and this month was no exception.

It’s amazing to reflect on how a $50,000 initial investment back in August 2018 has now grown into a portfolio nearing half a million dollars. With no mortgage obligations, contributing $1,500 each month to this portfolio has become a breeze.

Looking ahead, I’m considering the possibility of halting contributions once this portfolio reaches the $1 million mark, which I anticipate could happen in the next 4-6 years. At that point, a 4-5% yield would generate an additional $3,333 to $4,166 per month, and I might finally start enjoying the income it produces.

When that time comes, I could shift more focus to the M1 LBF Growth Portfolio and work on growing that to $1 million as well. That sounds like an exciting new challenge!

But for now, let’s get this update on the books, shall we?

Buys and Sells

• Net contributions to portfolio this month: $5,517.56
• Purchased 7 shares of the QQQ’s this month standing at 117/500.

Pass Go Collect Dividends!

• Total divies received for the month: $1,530.77
• Yoy change: 28%

Portfolio Snapshot

• Projected annual dividend is up 22.2% yoy.
• YTD Dividend income: $11,548.95

And that’s a wrap! 🤺