Personal Financial Report & M.I.P (Monthly Investment Plan)

a typical snapshot of my personal finances

Here I’m going to illustrate my personal financial report followed by my monthly investing allotment “plan” (M.I.P.)

My income:

I earn approximately $5,000 a month. $60,000 a year, approximately. I am fortunate that I have a stable and reliable income at my age to use as a foundation to build my investment portfolio. But there are expenses…

 

My current (approximated) monthly expenses: 

Vehicle & Insurance – $650 (wonders of driving in my age in California)

Rent – $750 (small studio apartment)

Utilities – $200

Food & Gas – $450

Education – $350

Miscellaneous – $300

Total Expenses = $2,700

Income After Expenses: $5,000 – $2,700 = +$2,300

Not bad. Realistically, my expenses monthly vary because I do provide financial support for my mother and some other family members from time to time, but it still approximates to what was stated above.

 

Savings:

Also, I dedicate $500 a month to my “Buy A House” fund (important asset), and an additional $500 a month to a “Oh Shit!” fund.

 

Actual Dollar Amount for Investing:

This leaves me with about $1,300 a month. Leaving the $300 for a buffer of safety, I plan to invest $1,000 a month to build a high-yielding portfolio. About 20% of my total net income.

 

Projection:

In theory, in 5 years X $1,000 monthly investment with an average 5.5% dividend yield (since I’m personally seeking the highest yielding stocks on the market) – I’ll be raking in $3,300 annually/$825 quarterly from dividends.

Seems like a good starting point. Although I know plans don’t always go, well, according to plan, I’d rather have one than not. Especially with finances, it is easy to get swept away in the consumerism and spend all of our hard earned money. But those days are over for me, it’s time I start making my money work hard!

 

What is your M.I.P.?

 

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Author: Author: Dividend-Investor

Hey guys! My name is Andrew. I'm passionate about personal finance, investing and dividend stocks. I'm extremely lazy, which is why I love dividend stocks - It is the ultimate passive income. I'm on a journey to build my portfolio into a respectable one that will provide very large returns, and achieve real financial freedom. It will not be quick or easy, but it will be an interesting journey. It's an expedition that I will chart and document along the way. Hopefully it will provide some insight and benefit to you as you embark on your own journey to financial freedom.

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