Though August was a down month for my dividend portfolio as far as gains, it was still a good month for my goals. It was actually my best month yet for savings by far! This type of month will rarely ever happen for me but I’m happy it happened this month!
Increase annual dividend to $1,200. ($1,176.91) (98%)
At the end of August my annual dividends were $1,176.91. I’m 98% of the way to achieving my goal! I should be able to achieve this goal by the end of next month. I should come very to close to $1,300 in annual dividends by the end of the year! This is one goal that I know I’m going to crush and I’m very excited about it! Here’s the August update of my Dividend Portfolio.
Increase Net Worth by 50% (38.13%)
Max Out Roth IRA For 2016 (100%) ($12,800)
I started my Roth IRA in October last year and made the maximum contribution of $5,500 for 2015 and 2016 in January 2016. I knew I wanted to max out 2015 while I still had time and I thought with the market being down it was a great time to max out 2016 as well. I’ve invested $11,000 into my Roth this year and it is currently up about 16.36% this year at $12,800. Here’s what I hold in my Roth IRA if you’re curious!
Save Another $15,000 In My Bank Account (+$1,403)
I’ve gone from -$800 last month to +$1,403 this month. I had several large expenses this year that really cut deeply into this goal. When I have larger expenses I use the money from my bank account rather than my investment accounts so my investments are still able to grow. I was down roughly $3,000 on my original $15,000 at the end of June so I’m happy with the progress that I’ve made on this number since then. I’ve accepted that I’m going to fall very short of this goal. I think I would be lucky for this number to be +$3,000 for the year. Gotta take the good with the bad!
Make $10,000 From Real Estate ($750)
Starting to lose hope on this goal as well. This goal was intentionally set very high. It’s still not out of the question but I think somewhere around $5,000 would be much more realistic at this point. I’m going to start focusing on this goal much more in the coming months.
My 457(b) Plan ($1,014.10)
I just started a 457 plan in July through my job. Though I don’t really have any goals for it, I’m contributing $200 pre-tax biweekly. I’ve invested $1,000 so far and it’s up 1.41% at $1,014.10. Not far off my expectations being this early on. It’s nice to finally have some pre-tax dollars flowing!
I made $1,688.69 from my full-time job this month. This was just a regular old two paycheck month for me. This is pretty average as far as my full-time job goes.
I received $96.28 from dividends in August. I’m very happy with this number as my goal for the end of the year is $100/month.
I received $750 from Real Estate in August. Nothing spectacular but it’s a start!
I finally sold my old vehicle so that was an extra $1,000 this month. I also made $178 from selling Amazon Fire Tv Sticks. This blog has made me some money but I’m not able to collect the money so I’m not counting that yet.
I contributed $400 to my 457 this month. I’m considering this income because it comes directly from my paycheck and I’m also counting this number towards my net worth.
My expenses were only $267.44 in August! I’ve found that it really helps me tremendously to track how much I’m spending. I can’t even believe that this is all I’ve spent all month. If I could manage to only spend $270 every month I would only need $3,240 for the whole year!
I was able to save $3,749.25 this month!!I think this has to have been my best month ever as far as saving goes. If I could somehow save this much every month I would be saving $44,991 per year! I was able to save 93.3% of my income in August!
I literally couldn’t ask for anything more this month. This is a record setting month for me and now I have my sights aimed even higher. I’m extremely pleased with how much I earned and saved this month but unfortunately I don’t earn nearly this much every month.
How much did you save in August?