My journey of becoming financial independence by 35 years old
Have you watched the movie “Larry Crowne” starring Tom Hanks and Julia Robert?
Larry Crowne (starring by Tom Hanks) is in his late 40 – 50s who works hard but never got promoted to the front office. Instead of getting the “employee of the month award”, his boss sacks him. One of the reason that he got fired is he never had a college degree and they need to downsize to meet corporate standard. He’s now stuck with a $400K mortgage without a job.
In one of the scenes, his SUV’s gas bill is $80 while a scooter is $9. So, he quickly makes changes and able to get out of the bad situation.
This is the real life story for many Americans in the crisis, people are forced to make some “hard” choices. If we don’t pay ourselves first, and it could happen to us and … then what?
For that, I’ve been setting money aside each month to increase my passive income, so even if I get laid off from work, I don’t have to have a job to pay my bills. In fact, I’ve reached financial freedom, which I could quit at anytime and have everything taken care of. I will not able to live a “lavish life”, I still don’t have a cellphone plan (regardless of managing 7 rental units, so what’s your excuse? :P), many people have different opinion of “slavish life” or “cheapskates lifestyle“, but I can tell you I don’t eat ramen noodle, I eat fillet mignon 1-4 times a week which we cook for ourselves).
This probably will be my last dividend increase for at least a year. All of the positions that I’ve sold to fund my $60K investment property purchase will make my dividend payouts.
However, I’m still excited about this month dividend payouts- close to 4-digit dividend income! That’s absurd, given that I work zero, zip, nil hour get this payout.
3/31/2016 CC $0.06
3/31/2016 UNP $22.00
3/30/2016 GS $6.50
3/30/2016 TROW $5.40
3/28/2016 BAC $423.75
3/28/2016 PFG $7.60
3/21/2016 D $70.00
3/17/2016 PRU $7.00
3/15/2016 DOV $4.20
3/14/2016 DD $3.80
3/10/2016 EM R$4.75
3/10/2016 IBM $6.50
3/10/2016 NSC $8.26
3/2/2016 FCPT $17.86
3/2/2016 FCPT $6.49
3/2/2016 TGH $4.80
3/1/2016 CMI $9.75
3/1/2016 F $69.20
3/1/2016 V $1.40
3/1/2016 WFC $198.75
March Total: $878.07
Compare to last quarter it’s 26.87% increase
With this will bring the 1st quarter dividend of 2016 to $1253.99. Or an average of $418/mo. My goal is to have $500/month by the year end. Since, I’ve made the decision on the rental property, my dividend WILL be short of the $500 mark. I’m revising down to $300/mo as a goal for dividend for this year.
I still can’t believe it. How’s about you? When are you projected to get 4-digits dividend payout? or When was the last time you hit 4-digit?