Growth Update: June 2014
It’s been a great half year for me. I’ve had constant employment since October, which is officially my longest editing gig since my career started almost three years ago. I’m working for a network now, and I usually work on specific television shows. Before I landed my current job, I was on the verge of a higher pay rate and position, but I had been out of work so long that I just wanted any job I could get. Recently, I had a few job offers come in for longer gigs, and I seriously considered taking one. I talked to my current employers who said they liked me and didn’t want to lose me. I’m happy to announce that in June I got a 26% raise. I really like the people I work with and having a stable job at a higher income should really help push my financial freedom goals forward.
Last year at this time, I had no way of knowing I’d be jobless until October. The little money I had saved in my short career would almost dry up waiting for my current gig. I spent the rest of 2013 repairing my emergency fund. What a difference half a year makes! I’ve been aggressively investing in high quality companies that pay growing dividends. At the start of 2014, my portfolio was worth around $5,000. Now, at the end of June, my portfolio is worth more money than I’ve ever had: $22,395.40. During the month, I added to three companies I already had positions in, BAX, TGT, and DE. I invested a new personal monthly high of $4854.12 in new capital. With these purchases, my portfolio increases from $17,541.28 in May to $22,395.40 in June for a huge change of 27.67%.
In the past six months I’ve been able to confidently add $16,882.04 of new capital to my portfolio, even while the market has been consistently showing record highs. I’m after individual companies and there are still some out there that are trading at values that make sense. Next month I’m on pace to smash my “2014 New Capital Invested Goal” of $17,500. The question now is only by how much?
I still only own 13 companies since this month was all about adding to my positions. I only saw one dividend raise, but it was a big one; TGT convinced me to buy more shares when they raised the dividend by 21%. The three companies I own that haven’t raised their dividend this year are AFL, MO, and PM; however, all three are expected to in the second half of 2014.
In June, I received $51.41 in dividends from six companies. This number is low now, but with consistent investment, I hope to one day pay my expenses with this monthly income.
I am currently reinvesting all my dividends and picked up the following shares:
My goal to hit this year is $750 in dividends received, and I’m way off pace at $263.39 so far. I’m trying not to focus so much on higher yielding stocks, but on sound companies with fair valuations that grow those dividends, even if it’s for a little lower yield. I still have a lot of time to let my money compound, and I should see lots of dividend growth to come.