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MY FIFTY SEVENTH $1,000!

MY FIFTY SEVENTH $1,000!

Again I stuck to my solid and reliable cash earners and cash savers…eBay, Air BNB and even sold an old computer for $200….plus I have a couple of dividends from IAA and VTS that topped me up during this period. Surprisingly I only saved lunch money 3 days for this period, which explains why my jeans are feeling a little tight at the moment! Realising this has given me additional motivation to take a healthy lunch to work for the next few months…not only are the money savings great but it forces me to try and eat healthily.

So with this $1,000 I have decided to do something a little different and slightly “tweak” the investment strategy. As you know, I have been researching and buying stocks in individual companies, which has been working well and is an enjoyable experience. However whilst this has been a great challenge, I am aware that I am not an analyst nor a professional trader (nor do I want to be, no offence to those that are analysts or traders). So I am completely aware that I am solely responsible for my purchasing decisions as well as the timing of buying these stocks. My focus is to buy long term passive income streams where the income grows with the capital value of the asset (in my case, my choice of assets is direct shares). However, I acknowledge that there will definitely be times where I get it wrong in buying the “right” stock or buy at the wrong time.

So to help reduce this risk and out source some of this responsibility I am going to start including some LICs (Listed Investment Company) stocks. These are professional investment teams who manage your money for you as part of a company, you invest in them by buying their stock and their job is to focus purely on growing the value of the portfolio through their technique.

I decided to purchase $1,000 in MLT and I will continue to focus on building up my holdings in this stock so that it becomes a core to the portfolio and then I can go back to picking and choosing the stocks that I want additional exposure to. After purchasing this stock, my estimated passive income should be $2,789 p.a. which is 69.725% of the way to achieving this goal.

Stay tuned as I will be talking about LICs in some up coming videos…

xCC


Canna Campbell

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Shared with love, for your growing inspiration....from SugarMamma.

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