Portfolio Update: May 2015
As an editor and producer, I’m used to working in a very volatile industry but that also means there are always a wide array of new challenges and opportunities available. At the end of May, I got a job offer from an old executive friend. I’ve had offers here and there since starting my stable network gig in October of 2013, but they were always for really short durations and not worth the risk of having to find something else so quickly afterwards. This new job offer was for over 30 weeks with a better title and a 7% raise over my current rate; I accepted. Sure, I could have stayed at my current gig longer, but by the end of it I felt like I wasn’t progressing towards my long term career goals. I wasn’t broadening my skillset through new material, moving up in rank or pay, maintaining or developing new industry contacts, or seeking new ideas and puzzles to create and solve. Those are the things that make this line of work fun, and I wanted to get back to it.
My new gig will end in January, and then I’ll have to start looking for something else; however, things are completely different this time around. I’m way more prepared and less stressed out because I have an emergency fund with a whole year of expenses. I’ve also expanded my portfolio from a total value of under $2,000 to almost $60,000 during this job. The portfolio produces an ever rising stream of cash in the form of dividends. This is money I can use if I ever struggle finding my next job. Passive income is such a perfect investment strategy for my unpredictable line of work. For now, the plan is to keep investing at full speed. I’m going into the new gig eager and hungry; I plan to work super hard and show them the value of my skill-set. 30 weeks is a long time to impress, and hopefully this new production company won’t want to let me go when my time is up.
I had a very tough time finding investments in May but after much analyzing, I pulled the trigger on railroad Union Pacific Corporation (UNP). I also added $50 to Wal-Mart in my Loyal3 account on May 31st, which bought 0.6691 shares at a stock price of $74.73. These purchases kept me well ahead of my 2015 portfolio contributions goal with $12,972.58 invested so far this year, or an average of $2,594.52 each month. Guaranteed work through the end of the year should help me smash this goal. I’m extra proud of this savings rate considering I’m getting married and already booked a two week honeymoon in the Greek Islands this October. This trip would have been a fantasy for us just a few short years ago. We’re followers of that age old advice of spending money on experiences and not things.
The portfolio did it’s usual thing over the month which is moving up and down in price in some direction that doesn’t really matter since I’m in it for the long term. A rising portfolio seems amazing on the surface, but dividend growth investors like myself prefer declining and lower stock prices for their larger dividend yields and far more attractive and obvious valuations. My portfolio value continues to rise each month, mainly because of my steady contributions. May ended with an overall value of $59,171, an increase of 2.35% or $1,357.93 compared to last month’s $57,813.07. That’s a year over year increase of 237.32% from last May’s $17,541.28!
Speaking of editing and producing, I saw this new drone camera for only $499 and thought it’d be selling for at least four times that. Take a look at this awesome video:
How was your month? What stocks are you buying?