Building wealth one step at a time

Week of June 18, 2018: 11 dividends and a purchase

Ready for a change?

Good. Me too.

I’m structuring this post a little different than my previous handful of weekly ramblings for one reason and one reason only: to better emphasize my march.

It’s not a huge change – the info will be pretty much the same – I’m just packaging it in a different way … a way I hope will better illustrate the power of consistency.

Listen, the key to growing wealth is planting the seeds. I don’t think many people would argue with that. The thing about those seeds, though, is you can’t stop with one or two … you have to keep planting. I make sure to plant a seed or two every single day (at least those in which the market is open). It’s not always a lot, as you’ll see, but it’s going to eventually lead to a $1,000,000 portfolio.

The main goal of this blog is to track that portfolio, which I call my Dividend Farm, but that’s not the only one. I also hope to inspire people to grow their own wealth. Trust me when I say I’m not doing anything anyone else can’t do. It just takes a commitment to consistency.

Check out the inspiration behind my march if you haven’t already … hopefully it will bring things together a bit.

Anyway, I started with a $100 deposit into my Robinhood account back in October of 2016. I earned my first dividend on the third day of 2017 ($0.50 from Walmart) and have been rolling ever since. I’ve earned almost $700 of dividend income, created a passive-income stream that produces close to $1,000 a year (and grows with every purchase) and built a portfolio of 150 different dividend-paying stocks worth $26,063.21 as of this post … and I did it all through small, consistent steps.

Invest every penny you can afford to invest, buy solid companies at good prices, reinvest all the dividends and never sell.

Simple, right?

OK, now that that’s out of the way, let’s get into the structure change. Instead of simply listing my dividends and purchases as I’ve done in the past, I’m going to break things up by day. That way, my hope is you’ll get a better feel for the march.

Daily steps make all the difference.

That said, here’s a look at this week’s steps …

Monday

I hauled in a combined $3.77 in dividend income from five different companies.

Aircastle (AYR) threw $0.28 my way, my three shares of VF Corp. (VFC) earned me a combined $1.38 for the third straight quarter, I earned $0.21 for owning three shares of Wingstop (WING) and McDonald’s (MCD) and Duke Energy hooked me up with respective dividends of $1.01 and $0.89.

See, not a huge step – $3.77 will barely get me a gallon of gas – but a step closer to $1,000,000. No matter how big or small, I don’t take any of them for granted.

Tuesday

Tuesday’s step was an even smaller one as LyondellBasell (LYB) paid me $1 for the one share I own. It’s a share that’s up $26.47 since I picked it up for $84.55 back in April of 2017.

Wednesday

Another day, another dividend … this time $0.52 from Avery Dennison (AVY).

Thursday

Daktronics (DAKT) passed along $0.28 thanks to my four-share position.

Friday

I ended the week with a nice day. I deposited $100 into my Roboinhood account, bought two shares of Starbucks (SBUX) for $102.70 ($51.35/share) and earned a trio of dividend payments.

Lockheed Martin (LMT) paid me $2, Waste Management passed along $0.47 and my four shares of General Motors earned me a combined $1.52.

And that, as they say, was that. Overall, I earned $9.56 in dividend income from 11 companies, deposited $100 into my account and increased my forward annual dividend income by $2.88 (Starbuck’s pays an annualized dividend of $1.44).

March on!

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