August 2020 update

Another month has come and gone and my progress toward financial freedom continues at a better than expected. I continued to stick with my budget and spending less. My savings grew this month to $3,300. My retirement savings grew a lot this month to $96,500. My top 3 holdings are Microsoft, Tortoise Acquisition and Verizon. Tortoise Acquisition is a SPAC or blank check company. It is going to merge with Hyliion to bring Hyliion public. This is a speculation play on my part. My position is 100 shares at cost basis of around $26. I sold a covered call option with a strike price of $45. We will have to see how it works out.

I also continue to look for ways to earn more. The dividend income in the IRA this month was $182. For the year I have earned about $730 in dividends. Options income this month was about $398. For the year I have earned $583 from option premiums. While the income from dividends and options is not much, I am happy to have some streams of income other than job. I am confident I can grow these income streams in the future.

I also continue to pay down debt and improve my net worth. The big increase in my retirement savings helped to improve my net worth to -$2,700. I did not expect my net worth to improve this much this fast. Until next month I will continue on spend less, earn more, pay down debt, invest and stay invested.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: