Dividend Portfolio Is On Track To Meet Key 2020 Goal

I for one am ready to get 2020 over and done with. But, despite all the the bad that has happened this year, one highlight is the fact that my dividend portfolio is on track to meet a key 2020 goal of mine. Specifically, I wanted to have a portfolio balance of $10,000 by the end of the year, and currently, I’m on track to do just that. Let’s take a quick look.

Dividend Portfolio Goal

As stated, the goal is to have a portfolio balance of $10,000 by year’s end. Currently, the balance is $8,844.88. That means I am short 1,155.12. However, we still have one month to go! What’s more is that the extra amount I need to come up with is a lot less than first meets the eye.

In September of this year, I announced that I temporarily increased the minimum contribution to my dividend portfolio. The amount was increased to $740 per month. Note, I mistakenly said it was increased to $750. I indicated that it was a temporary increase because I still have not yet closed on the condo. But, it seems increasingly likely that I will be able to make this increase permanent in 2021. I am also hoping to close on the condo by the end of 2020.

So, using the $740 amount that regularly comes out of my paycheck, I still need to come up with $415.12. Well, I just deposited an extra $200 to my dividend portfolio. That means, I still need to find an extra $215.12 to be able to reach my goal. Of course, this ignores the volatility of the stock market and any dividends earned between now and December 31, 2020.

I can do it!

Conclusion

I can’t wait for 2021. But, I’m equally excited to be able to reach this milestone. Given the fact that I still have two more paychecks to receive, I’m pretty sure I can find $215.12! I just have to cut back on a few trips to Starbucks and eat out a little bit less. The struggle is real.

I didn’t want this to be a long post. I just felt like sharing my excitement. Rest assured that once the milestone is actually reached, I’ll make another post about it.

Currently, I am working on my financial goals for 2021. As soon as I close on the condo, I will publish those. In the mean time, I will work towards finishing 2020 strong.

What did you do think of this post? Let me know by commenting below.