The title of this post pretty much says it all. I still have a long, long, long … long, long …. long, long, long, long way to go to hit my million-dollar milestone.
The $1,000-plus I’ve invested so far has helped me build an eight-company portfolio which will spit out at least $43.56 in annual income for the foreseeable future (as long as there aren’t any dividend cuts, of course).
Not bad. Not bad at all … especially considering I (re)started my march from scratch on the first day of August. Now, though – after throwing a nice chunk of change at some really stable dividend growers (APD, MMM, SBUX) and a bit more at a couple undervalued companies with some seriously significant yields (T, F) – I’m going to pace myself a bit.
Remember my first post since the relaunch? You know, the one where I said I was going to shoot for adding $1 of forward annual dividend income to my portfolio per day? Well, I did the math. Assuming I get an overall yield around 5% – which is totally doable – I’ll need to invest a little more than $7,000 to build a Dividend Farm that spits out $365 a year. To do that within a year means I’ll have to deposit $20 a day ($20 x 365 days = $7,300) … which is exactly what I’m doing.
As of this post, I’ve deposited the $20 into my Robinhood account each of the last 10 days … something I’ll continue to do until I feel as though I can afford more. I recommend you do the same. Not necessarily $20, but whatever you can afford. If you have more disposable income laying around, invest more. If you have less, invest less. The point, simply put, is that daily steps will keep you motivated. The market will go up and down, but good things will happen if your willingness to invest remains consistent.
As for actually investing that money, I did make a purchase this past week. Nothing major, or really all that exciting, but I picked up a share of Intel (INTC) for $49.21, adding $1.20 to my forward annual income number.
Why Intel? Other than the fact I wanted it in my portfolio and it’s down almost 13% over the course of the last three months or so, it has a decent price-to-earnings ratio (16.88), solid profit margin (29.51%) and manageable debt-to-capital ratio (28%). Earnings per share are up as well. It’s not the cheapest stock money can buy, but you can certainly do worse.
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