How to find the perfect investment
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My name is Alex and I love creating streams of passive income. My goal is to help you do the same.
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Announcement
Last year (2021) I did a challenge. My goal was to take a new investment portfolio from $0 - $20,000 in 1 year or less as a 24 year old making $40,000/year (before tax) at my day job. I was doing this challenge to show others what was possible with a bit of hard work and consistency. I hit that goal in the first week of December crossing $20,000 with a few weeks to spare.
This year (2022) I’m planning on taking that portfolio to $50,000. 2.5x my goal from last year. I’m hoping compounding can take over a bit and bring me closer to that goal but it’s going to also take some serious capital appreciation of my current positions.
I will be updating you on how my progress is going throughout the year. As of today February 28th, that portfolio is hovering around $24,000 and growing.
Some Tips To Help You Become A Better Investor
Don’t make long term investment decisions based on short term news (Ukraine/Russia)
Automate as much as you can - deposits, reinvestment, buys, alerts
Buy great companies at fair prices
Allocate a % of your portfolio towards cash generating assets like dividend stocks
Every portfolio should have an index fund ETF
Lowering your expenses is one of the best ways to free up some extra cash to invest
Scared of the impact of rising interest rates? Buy RUST stocks. (R)eal estate, (U)tilities, (S)taples, (T)elecommunications
Establish a target allocation. For example, 30% dividend stocks, 20% growth stocks, 50% index funds
Buy when people are fearful
Saving money won’t make you wealthy. Investing money will