The Hardest Part is Starting
It’s been about three months now since I’ve starting investing; putting my money to work for me instead of having it sit in a measly savings account. I discovered this concept of financial independence, and more so, achieving this status at a younger age than is traditional.
I’ve been able to put away a large portion of my salary away month after month into my brokerage accounts for investing in dividend growth stocks. Unfortunately, I’ve been quite limited in my selection, as I’ve kept my distance from the conversion rate from CAD to USD. In Canada, there’s not a whole lot of diversification. However, I’ve opened up positions in real estate (REITs), telecommunications, financials, energy, utilities, and mining operations.
The market’s been seeing a decent bit of a pull back lately due to a fear of a rate hike, however, nobody really knows when this will come. Heck, when I started investing a couple of months ago, everywhere I read, people were convinced rates would be raised in June, yet here we are – with rates remaining the same since 2008. When markets go down, all it means to us long-term investors is that stocks are on sale, and we should load up if we can afford to.
When I set out to record my journey in early April, I took a lot more charge of my financial life and my life as a whole. I feel as though a lot – a lot – of people don’t track their finances at all. I sure as hell didn’t before I started writing. I did save a lot though, when I used to work part time and go to school, I put away a decent sum of money which I’ve only begun investing now. It would have been amazing had I the foresight to invest way back then, but doing so now is still really early in relative terms to my life time.
Goals Are Everything
One of the first things I wrote on the blog was My Goals. While building the chart on that page, I realized that all of this was within reach, given time. And the dividend growth way of going about it preserved capital and increased cash flow – it was guaranteed income – and I love nothing more than absolute guarantees. All I gotta do now (in the simplest terms) is follow that chart and I’m home free before I know it! Though I’m prepared to face a multitude of trials and tribulations, I believe in it.