Well Well Well.
It has been quite a while since I last posted here, don’t worry, I am still alive and well. Just a lot has been happening recently. Where to start?
- Wedding planning is going well.
- My Grandpa went to hospital, was told he had less than a day to live but is alive and well weeks later (he’s a tough old bugger).
- Net Worth increased c. 1.5% over two months.
- Dividend income stayed somewhat the same.
- Created a new Etsy with the fiance that is pulling in roughly $250 a week (wayyyy above expectations).
A little slack on my behalf on posting new topics to talk about and I apolagise for that. I am going to try to post more here in the second half of the year.
I also won’t be posting my Net Worth and Dividend income as much here, it takes me too long to check these things and they really don’t change too much overall to be honest so I might do them quarterly or something. Takes up too much of my time. Don’t worry you will still see them in the future but less often.
I had a little downtime today at work and I was thinking about the blog and my future dividend income. I haven’t added to my portfolio for a few months and I would like to add something soon. So how do we add something more? Challenge yourself!
So my challenge is from me to you!
My current Forward Dividend Income (FDI) is $731.78. My challenge from me to me (and you) is I want to increase my FDI by a dollar a day for the total month of July. That means adding $31 to the forward dividend income over the next month. Seems easy right? Well it really depends what yield you lock in.
Take a look at the picture below.
As many of you would already know, you can work out the funds are needed to achieve $31 in FDI. You can easily calculate this by the following formula, So an easy way to show you an example is:
If you pick a stock/share that is paying a dividend yield of 2.5% and you require to increase your Total Dividend Income by $31 then the formula would be:
This works out to be $1240.00 of total funds (after fees) to achieve $31 in FDI. Or you could take a higher risk and take something 5% yield and then you only require $620 in funds (31/0.05 = $620) to achieve $31 in total FDI. Does that make sense?
My Challenge To You!
Currently, my Forward Dividend Income is $731.78 and if I increase it by $31.00 in this month alone that is an increase of 4.24% in my FDI. Wouldn’t that be a nice increase.
So my challenge is… can you achieve better than 4.24% in Total Forward Dividend Income increase over the next month? If you beat me, you win, if you match me, you win. Overall, we are both winners!