July 2020 update

July seen a little bit a shift in strategy for me. My savings grew to $2,100 this month. This was a strategic move on my part. The pandemic is creating a lot of uncertainty. Having more in savings helps to relieve some of the stress created by the stress of the times. The retirement savings continues to grow approaching the $90,000 mark. This month I received $143 in dividends bringing my total this year to $548. My top three investments continue to be Microsoft, Disney and DGRO. My net worth improved to -$12,800.

This month I began trading options for the first time. I sold some covered calls this month and received $185 in premiums. Option trading is not for everyone and I strongly encourage anyone who is interested in trading options to do plenty of research and understand the risks prior to trading. Certain types of option trading can carry a lot of risk. For me, option trading is providing me with another source of income. All of my option trading is done within my IRA so it will help my retirement savings grow. Another month of spending less, earning more, paying down debt, investing and staying invested is showing some very tangible results.

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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