Save $10000 By The End Of The Year

By | August 6, 2020

It has been said that sometimes, too much of one thing is good for nothing. I’ve had many goals and desires but with limited financial resources, I can’t do them all. So, I have to prioritize. As you know, I’ve restarted my dividend portfolio. It’s going to take me some time to get back to where I was, but I intend to get there! One of my goals has been to save $10000 by the end of the year in my dividend portfolio. That’s going to be tough. However, I’ve decided to prioritize my contribution so that I reach this goal.

The Problem

Part of the problem is that I haven’t closed on the condo. There is a distinct possibility that I’m going to need extra funds (probably beyond $10k), but I just don’t know right now. In any case, I’m hoping not to have to withdraw money again from the dividend portfolio. We shall see. Ultimately, if it makes sense to do that, I will. But, I’m mentally preparing myself that I will try to get the funds from other sources if needed.

The Challenge

Currently, my portfolio is valued at around $5000. So, in order for me to save $10000 by year’s end, I would need to contribute, on average, $1000 per month beginning THIS month! That’s going to be very hard. I might be able to do it for August, but it’s definitely going to be a challenge for the remainder of the year.

I supposed you might be wondering why I don’t just wait for the condo to close? Well, the truth is I’ve been waiting since February and I’m tired of waiting. So, I figure I will move on with my life. Part of me feels that as soon as I make the contribution to my portfolio, Karma, Murphy or the Universe will try to stick it to me by having the condo ready to close the next month. I’m fine either way.

Conclusion

I wanted this to be a short post. Moreover, by posting this, it helps to keep me accountable. I’m really looking forward to having the portfolio reach that psychological threshold of $10000 by year’s end. You will be the first to know if I succeed.

What do you think of this post? Do you think I should have just waited until I close before trying to save $10000? Let me know by commenting below.

2 thoughts on “Save $10000 By The End Of The Year

    1. Dividend Portfolio Post author

      Thanks DivHut. I’m still going to try to make it. We shall see!

      Reply

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