They say slow and steady wins the race. Well, for my dividend portfolio, the growth in annual dividends has been very slow. What’s worse is that I don’t think the speed of growth will increase anytime soon and certainly not in 2016.
Right now, I am close to meeting my goal of $100 in annual dividends. As you can see, the annual dividends at the time of this writing is $62.01. So, I am over halfway there. However, I do fear that I might not reach my goal. That’s because I will mainly be purchasing one share of Exxon Mobile on a monthly basis automatically. With the other stocks, I have to manually make the purchase, and sometimes I choose to do other things with my money (like paying down credit card debt), etc.
Based on my rough calculations, If I only purchase one share of XOM each month for the next three months, I would only get an additional $9 in dividends per year, taking me to $71.01. So, for me to make it to $100, I would need an additional 10 shares of XOM. That’s not going to happen. But its ok. As Michelangelo Buonarroti once said, “the greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” I’m still going to do the best I can. I’m still going to buy shares and record my progress on this blog. For what it’s worth, had I started saving in January, I might have reached my goal. But, I started this process around May 2016, and have no regrets.
Truthfully, I can’t wait until December comes. I am so looking forward to the start of the new year. My main goal is to build a strong foundation in 2016, so that I can begin to build wealth in 2017. I’ll see what works for me, and what doesn’t. I will be building this dividend portfolio slow and steady. Before you know it, I will win this race!
Just keep plugging along and you will get their it is a slow process and that is whuy we need to encourage others to start as early as possible.
Being a dividend growth investor is all about having the mindset that you started a marathon and not a sprint. It’s all about that slow and steady thinking with a very long term horizon. Many who start on this journey get dismayed early on as dividend income is slow to roll in. Just hang in there, stick to solid sustainable dividend growth stocks and do not chase high yield fantasy stocks that are more apt to cut or eliminate dividends. You seem to be on the right track. As you stated, you will win this race. Thanks for sharing.
Thanks for the encouragement DivHut and thanks for stopping by.