Investments

My Financial Freedom Game Plan

Despite the fact that I spent more than I like last month I still managed to have money left over for investment. I took the $67 I received in royalties and added $63 from my paychecks to it in order to scrape up $130 to invest this month. I plan to stick every penny into a single stock I’ve targeted.

This will increase my annual dividend income by over an hour’s wage.

My Game Plan

  • Keep my expenses low to maximize the amount I can invest each month.
  • Invest in stocks that fit the criteria I’ve worked out (I’ll write more on this later).
  • Reinvest any dividends received.
  • Repeat.

In time this method will allow the annual dividends to grow to the point where they match the annual income from my day job. I mark my progress by my original hourly wage of $7.25 an hour. Every hour’s worth of dividends I receive takes me closer to freedom.

So far, factoring in the dividend cut from my miscalculation on the one stock, I’ve managed to build my investments to the point where the dividends are close to a single week’s wage. I only have fifty-one week’s worth of wages to go in order to achieve financial freedom.

Not bad for a beginner.

Do you have a plan to achieve financial freedom? Please share your stories in the comments below.

One Comment

  • Cam Coogan

    Great job. You are right- definitely not bad for a beginner. As I have mentioned before, my plan for financial freedom is basically bringing my living expenses as low as I can go by moving off-grid onto land that I own. I do have savings but not enough to last me my lifetime, assuming I live until 80-ish. I am planning on social security but I won’t be dependent on it. My property tax is crazy-low so I should be able to pay that annually with no problem. I am probably going to do without health insurance and just die as gracefully as I can when the time comes. Now, the car thing- I am still trying to figure that one out. My land is in the country, a long long walk from any town but do I need to go to town?? My goal is to live without those trips to the town. As I said, still trying to figure that out.