There’s all kinds of uncertainty swirling around the auto industry these days. Tariffs have gotten people all worked up, carmakers are slowly but surely moving toward an all-electric future and come on, before long we won’t even be driving the damn things … they’ll be driving themselves.
The thing is, though, as exciting as the future seems, no one knows when it’ll get here … or how bumpy the road to an all-electric, autonomous future will be.
Like I said … lots of uncertainty.
It can be a scary word – uncertainty – especially if you’re considering investing in one of the handful of companies in the industry. That’s why I don’t use it. Instead, I prefer to look at the current state of things as an opportunity. The big boys (Ford, General Motors, etc.) are reinventing themselves … or at least getting ready to. The growing pains may be just that (painful), but I think the opportunity associated with throwing some cash their way easily outweighs the risks. I could be wrong – it wouldn’t be the first time and most certainly won’t be the last – but I’m feeling pretty right this time around.
This week’s purchase: General Motors
I put my money where my mouth is this week, too, scooping up 15 shares of General Motors. I’m up to 20 at an average cost of $37.56. It’s easily the biggest position I have (which doesn’t mean much considering I’m 4 weeks into my march toward a $1,000,000 portfolio and only have three positions at this point).
One month into the march
So, here we are … four weeks (about a month) into my march toward a $1,000,000 portfolio. I’ve made daily $20 deposits and a couple more for $500 a pop, the first of which I used to get started.
Overall, I’ve invested $1,520 of my hard-earned cash. I have three positions – 20 shares of General Motors, 12 shares of Fifth Third Bank and 10 shares of AT&T – that will produce $62.32 worth of dividends in the next year.
I haven’t received a dividend just yet, but am scheduled to get my first – $2.88 from Fifth Third Bank – Monday. My 10 shares of AT&T will earn me $5.10 in August and the 20 shares of General Motors will get me another $7.60 in September.
The next step
Now, to keep my streak of monthly income increases alive and well, I need to get my FITB position, or maybe even a new one in another company that pays quarterly along the same schedule, to dish out more than $7.60 in October. If I decide to add to my Fifth Third share count, I’ll need 20 to get the job done. With its $0.24/share quarterly divi, 32 shares would earn me $7.68.
March with me
Looking to get started? Start with Robinhood: http://share.robinhood.com/benjams352
Like the Facebook Page: @marchtowardamillion
Follow along on Twitter: @marchtoward1mil
Follow along on Instagram: @marchtoward1mil