1. The biggest goal of 2018 was home ownership -- On July 12th my wife and I are set to close on our first house. What has been holding us back has been really two things. My wife and I were both in the process of transitioning to new jobs in the first half of 2017 and we didn't want to limit our search by buying a home. The second issue was we wanted to save for a down payment. Overall our decision I believe was responsible. We both have relatively stable jobs, we didn't max out what we could get approved for. We did pay a bit of a premium in terms of the area we chose. But it gives us great public schools for our soon to be kindergartener and younger daughter and a reasonable commute for both my wife and I. It also moves us closer to my in-laws who provide us with support in terms of help with the children.
What I don't like is that we didn't save enough to avoid PMI, and while we are definitely not buying above our means, we aren't living below our means either. Especially not with one in childcare and one in aftercare. This will not prevent me from saving. But it may slightly slow the increase in savings. Overall I do think this is the right move for the family.
2. $8,000 Portfolio -- I'm proud that I was able to secure a mortgage without blowing up my DGI portfolio. This was a huge win. I have a savings plan and was able to purchase a home without dipping into what I've saved or preventing me from adding to it. I had told myself this wouldn't happen and it didn't so that is a win. With a current portfolio of $7,559 plus another $200 in cash in my Robinhood account, I'm well on my way to make this goal. That said it was a conservative goal to begin with. I'm hoping for a more aggressive savings goal next year.
3. Earn $250 in dividends -- With 124.05 saved in the first half of the year and more forward dividends ahead I'm well on track to meet this goal.
4. At least one holding of $1,000 -- It's not that I'm opposed to diversifying. I plan to. But in the past I had jumped on every stock on my watchlist as soon I had enough for a share or two. I can do this at no cost because I use Robinhood. But I didn't I was making the smartest purchases all the time. So I put goals like this one in to keep me disciplined. I may achieve this goal my O holding is already at $914. However, it's okay if I don't. I think I've accomplished the larger goal of strengthening some of my existing positions.
Overall -- I'm satisfied with my progress. I would give myself a B- for this midterm if I had to grade myself. I spent slightly more than I should for this new home. Though I do think we can afford it and will grow into the payments more in the near future. I also think goal too is modest. Finally I'm not fully funding my Roth IRA account yet. But I am making progress there. I'm currently depositing 380 per month there. I'm hoping to full fund it within the next two years.
Material presented on 'Dividend Seedling' is for informational and entertainment purposes only and is the opinion of the author (a social studies teacher and not a financial advisor). None of the information should be relied on or taken as investing advice or a recommendation to invest. None of the information or opinions expressed, constitutes a solicitation of the purchase or sale of any security or investment of any kind. Please do your own research before making any investments. Do not making any purchases unless you are prepared to lose your entire investment.
Disclosure: Long O
Disclosure: Long O
Additional Disclosure I long everything.