Increased Dividend Income from 4500 in 2015 to 5580. (Increase of 25%)
As I’ve said before and I’ll say it again, invest today so that you can grow dividends. These dividends will pay me for life as long as I hold them, and if a company decides not to pay dividends one day, then I will just sell the stock and buy a competitor’s. Saving money has benefits, but investing money to get free money is the ultimate benefit in my book. I predict if I continue on this pace I’ll be able to reach 10K in 3 years. Some of you might think 3 years is a long time, but believe me it goes fast. Imagine how many shares I can pick up with 10 thousand dollars of free compounding money. This year dividend payouts amounts were down for the majority of my index funds, and this hurt my goal of 6K in annual dividends. FYI almost all dividends are reinvested into tax deferred retirement accounts and I do not have access to this money. What milestones realized in 2016 made you smile?
I saved 27% of gross income. (With the employer Match)
Hey man this is just simple to do, automate automate till your blue in the face. Set up 401K or IRA money to be deducted immediately from every pay check. The opportunities are everywhere to save so take advantage today. Connect bank accounts with investment accounts to make the transition even smoother.
I was able to do various spending freezes throughout the Year
Spending freezes are fun for me, and I do them to challenge myself from time to time. We all should practice this and when you do, funnel the money towards the next best goal. If that is paying down debt or funding your next vacation, as long as you act and don’t let the funds roll over into the next month.
