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- Nourish Your Roots Newsletter Issue #7
Wrap Up The Year
ISSUE #7
HAPPY HOLIDAYS!
It is that time of year, tis the season for joy, time with family, giving as well as reflection, conclusion and resetting for the upcoming year.
I would like to take a moment to reflect and discuss my plans for the upcoming year regarding my portfolio. This is a finance themed newsletter after all.
Let us start with this year (2023), at the start of this year I had an entirely different mindset and different goals for my dividend portfolio.
$4k annual pre taxed dividends
100 different positions
over $300 per month in dividends
I did end up reaching 2/3 getting the 4K in PADI as well as crossing a $300 a month in dividends.
While I love learning about stocks and investments, its not my entire area of expertise and I began to feel as though I was allowing for subpar companies to make up large portions of my portfolio. Around September, I began to reflect on what was happening in my portfolio and realized at 73 stocks I was stressing out, and feeling overwhelmed there was way too many different positions for me to manage. After doing some deep thinking and looking over my portfolio I decided it was time to start trimming some positions. Much like in the beginning of seasons when pruning of trees and bushes need to be done to ensure beautiful landscaping. As of the time writing this news letter my portfolio has been trimmed down to 45 positions, and I am incredibly happy as well as confident in its projected growth going forward.
Making the decisions to trim certain positions from the portfolio was so intense, talking constantly with members of the DivTwit or Div X community, reading, and doing some serious much needed research. I was able to finally let go of some positions that I lost confidence in, started to show declines, were poor choices and some good choices. In the end, all of the funds were allocated to positions in the portfolio. You can find the updated the portfolio in the link below!
Going into 2024, I have a much different mindset than I did from the start of 2023. As well as taking a more active role in managing my retirement after a whole debacle with a company that was holding my Roth IRA and now that I have educated myself in this field somewhat, did not like the trajectory of my retirement fund. This upcoming year will all be focused on growth and foundation building. The goals for this year are very simple and I am taking an approach that is rooted in the phrase “Aim for the moon, its ok if you miss you will land among the stars”.
$6k in Passive Annual Dividend Income
$500 in monthly dividends
NO SELLING
Max out Roth IRA
Build up Emergency Fund
Reduce House Mortgage by another $15k
I think this set of goals are simple and achievable. They are measured by a time frame of one year. Referencing back to an earlier issue where we discussed developing SMART goals to have clear and accurate objectives to reach outcomes.
This time of the year, we begin wrapping up little odds and ends, and I can think back to previous years where I would rush little projects, holiday shopping and more. During this time I would like it if you shared with me what is one project that you are wrapping up for the year! I look forward to hearing from you!
You can always reach out to me through email ([email protected]) or through X or Twitter @DividendRoots… I don’t know what to call it…
Nourish Your Roots.
-Gio
DIVIDEND DATA UPDATE
Click here —> ROOTS PORTFOLIO
Overall Comments: This week I did my final sells for the year. This been one intense roller coaster but I am finally in a space that I am comfortable and believe that my portfolio has a great foundation. This upcoming year will be go time and a massive building operation!
X HIGHLIGHT OF THE WEEK
This section is dedicated to a X member who offers meaningful, thought provoking finance, educational, content while maintaining a positive attitude and supporting members of the community. I suggest giving them a follow and checking them out
X Profile Spotlight :
The spotlight for this week is awarded to @grow_dividends. This individual is making a name in the investing space on X, by continuously being supportive of the other community members as well as sharing meaningful content about their investing journey!
I reached out to grow, and asked him What is your “What is one lesson you learned investing so far, that you would share with a new investor? He responded with
“One lesson I’ve learned is that it’s ok to choose to not have an opinion. Often times we get caught up trying to be right about a prediction, when we don’t have the courage to be honest with ourselves that we need more info. It’s better to concentrate on areas you know well, and specialize then try to be a generalist know it all.”
Grow_Dividend’s response has a crucial concept that a lot of people should practice more in their daily lives. Sometimes it is best to stay inside of our scope of expertise.. essentially stay in our lane and do what we know how to do best.
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Resource Center Section
Tools that I utilize
These websites and apps listed below I personally utilize on a daily basis for research, news and portfolio tracking.
www.thedividendtracker.com - easily one of the best tools that I use to research dividends and its very beginner friendly. The free version has exceptional options available to you for taking a deeper dive into stocks and keeping track of the progress of your portfolio over time. There is a paid version you can upgrade to and offers tools such as a payout calendar, calculators and much more! Definitely worth checking out. Also comes as an app 🙂
www.seekingalpha.com - an excellent website tool that offers some seriously in-depth analysis of stocks that you research. There is a free version for some simple portfolio tracking and a paid version that offers way more options such as comparisons to other stocks and history and way more! Also comes as an app. 🙂
www.finviz.com - great tool for screening stocks, getting charts and graphs and comparisons. If you want quick or indepth analysis this is a great tool to have access to. PLUS its free 😄
Div Tracker App- Free app decent tools/ paid version offers some extra tools. Allows for quick tracking on phone or tablet and has a payout calendar which is always fun.
Book Corner
The books listed here are ones that I have read along my journey to teach myself investing principals as well as develop a better understanding of financial literacy. This list will be ever growing 🙂
Podcasts
List of Podcasts that are great for beginners and veteran investors that I listen to daily. They offer book reviews, stock reviews and thought provoking discussions. I usually listen in the morning on the way to work and on the way home from work, then i can sit and reflect on what the podcast is talking about.
Brokerage
Charles Schwab
Robinhood
Fidelity
Photography Highlight of the Week
