March 2020 update

This is the most exciting month so far but also it was very scary. My savings increased to $1,275. I opened a checking account at a local credit union that pays 4% interest. My retirement savings grew to over $72,000. Also, the money from my previous employer finally rolled over into my IRA on March 23. I am extremely lucky that my retirement money was out of the market for the stock market crash. I now had control of investing for my retirement. With the little knowledge I had of investing in the stock market I was off to the races buying stocks and etfs. It was a bit scary at first in part because of the market crash which no one knew if we were at the bottom yet and I had never bought individual stocks. I really did not have a well thought plan but I managed to do okay. Some of the stocks I bought this month included GM, BMY, CVS, Delta Airlines, Disney, Exxon, JNJ, Sysco, 3M, PG, WM, Tyson, Berkshire Hathaway, U.S. Bancorp and DTE Energy. I don’t think I did too bad for someone just starting out.

This month was also very scary because the pandemic was running wild thru Michigan which led to a shutdown of most businesses. My company went from three shifts of production to a one shift skeleton crew. Fortunately for me, I was part of the skeleton crew. I did not miss any work or pay during the month. Between paying down debt and savings I was able to improve my net worth to -$38,500. I got real lucky this month but I was able to continue with my plan to spend less, earn more, pay down debt, invest and stay invested.

Published by Bill

I am just a blue collar factory worker trying to reach financial independence by spending less, earning more, saving and investing.

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