April Showers Bring May…Insanity?
Well, May is officially over, and it was a crazy month for us. You’ll notice that I haven’t updated the site much.
During the beginning of the month my wife went into labor and delivered our first son, but he had meconium in his amniotic fluid and had to spend a week in the NICU. Thankfully I hadn’t started my internship yet and my student job had ended for the semester, so I got to spend the whole week in the NICU with my wife instead of leaving there by herself while I went to work.
As scary as that might have been, he stabilized relatively quickly and most of that week was spent weaning him off of oxygen and making sure that he could keep his oxygen levels up without the aid of a tube. He’s doing well and has gained a good amount of weight since coming home, but everything was on hold while he was there.
Almost right after our son was released from the NICU I started my internship at a boutique accounting firm. As opposed to public accounting, this firm serves a unique client base, and I’ll be learning a lot about one of the industries I’m interested in, so I’m excited.
Also, I’ll be making a good amount of money compared to during the semester, so my wife and I are excited to see our income and ability to save and invest nearly triple.
About a week after I started my internship I flew to Texas to visit three of the Big 4 accounting firms. I’ve received internship offers from them for next year, so I was visiting to see which of them I felt like I’d fit well with.
I had a good time and learned a lot, but I was hoping I’d find a clear winner after my visit so that the decision of which offer to accept would be easy. I didn’t count on really liking all of them. My wife and I have been talking about it and trying to decide before I have to get back to them.
In addition to receiving more dividends, we contributed $125 to our brokerage account, I was offered three internships for next year, and I finished up the semester.
And, like I said earlier, May was a crazy month for us, so we’ve also been packing to move, and will start moving today. We’re moving to an updated apartment in our apartment complex, so it isn’t a big deal, but when you combine it with everything else things have been a little crazier than I would have hoped. Hopefully, June will be a little more relaxed.
Enough of that. Time to get to how things went for our investing
May Dividend Totals
This month we had one measly stock that paid out dividends. DNP, for a total of $5.26.
Obviously, I knew this month was coming, so I’m not surprised that we only received what we did. The happy thing is that this is the first May we’ve ever received dividends so that $5.26 is a 526% increase from last May. What an incredible improvement!
Also, I’ve realized that my brokerage account has started paying a dividend on the cash I have in the account waiting to invest, so we received $0.15 from that this month as well.
I might start including that in my normal dividend totals, but I’m not sure yet.
Our Yearly Dividends
Given that May was a lower month for us, how are we doing for the year?
We’re now 41.7% of the way through the year, and our total dividends are at $186.24, which is 46.56% of the way towards our $400 dollar goal. Even with a slow month, we’re still ahead of where we need to be!
From what I’ve projected for next month, we should maintain that slight lead and then pull ahead during some of the bigger months later in the year.
How about our forward dividend income?
At the end of this year, our goal is to have a forward dividend income of $500 dollars.
Last month, our forward dividend income was $418.77. With the dividend reinvestment from this month we’ve eked up to $419.17, which is 83.83% of the way towards achieving that $500 goal.
As a reminder, we started the year with a forward dividend income of approximately $390, so our dividend income has increased almost $30 without any effort on our part.
Another thing that happened for us this month was that we transferred our emergency fund from our savings account into a higher yielding money market account and are now earning 1% interest on it.
With that bump, we’ll make about $11 a month in interest. Obviously, that’s not going to make us rich, and isn’t going to beat inflation, but I’d rather be receiving 1% interest on our money than .15%.
An emergency fund is more about our peace of mind than it is what we could be doing with the money.
To finish up, remember the Haitian proverb:
Little by little the bird builds his nest.
That’s what this journey is all about.