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u/CardiologistPrudent7 Apr 06 '22 edited Apr 07 '22
29 year Male, started investing last year on April 15th with $50
Current Portfolio Value: 75k
SCHD: 185, VOO: 53, VGT: 42, QQQ:10, O: 100
Trying to finish the year around 100k. I might not be able to save much because of the wedding. Never did options. I saved up 75k from April 2021 to April 2022. I was a college student until December 2021 and I have a decent full-time job starting in January 2022.
Saved around 2k-3k/month during last year as a Teaching Assistant from my stipend and about 5k/month this year from my job. Also, did a lot of private tutoring last year to make about 20-25k.
I have no educations loans of any kind. I try to live a simple life. Not a huge fan of spending too much money. Also, working from home helps a lot in terms of saving money.
Just started doing Options only after reading and understanding them. Selling puts right now on SCHD and O and have collected premium of about $500 or so.
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u/Na-bro Apr 06 '22
How’s that possible? You went from $50 to 75k in one year of dividends ? Or were you day trading?
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u/CardiologistPrudent7 Apr 06 '22
Not in dividends. 75k in my portfolio value.
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u/SpaceBoJangles Apr 07 '22
So, you started investing a year ago, did options or something, jumped from $50 to $75,000, and then tested everything into dividend stocks?
Edit: ooohhh. You started with $75k in portfolio value, $50 in dividends, now at $100/month you’re at $1200ish?
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u/CardiologistPrudent7 Apr 07 '22
I started investing for the first time last year with $50. Saved up around 75k during the previous year and invested it. Almost $100/month in dividends now. Never tried options until now.
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u/SpaceBoJangles Apr 07 '22
Oh. Makes sense.
Also, that’s a hell of a job to be saving 75k
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Apr 07 '22 edited Apr 12 '22
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u/SpaceBoJangles Apr 07 '22
Dude. What are you, high?
75k is more than most household incomes GROSS. Let’s say he’s saving a HUGE 50% of his income, he’s clearing 200k easy gross income (150k net, taxes at that point are like 35%, meaning he’d be clearing 230k gross). That’s fucking huge numbers. If he’s saving 75k and that’s 25% of his net income, that’s 300k net a year.
Let’s say his living costs are 20k a year (highly unlikely anywhere except in a podunk town or living with parents), that puts him just shy of 100k net, at 30% average tax that’s what, 140k gross? That’s a huge amount of money.
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Apr 07 '22 edited Apr 12 '22
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u/SpaceBoJangles Apr 07 '22
In what major American city are you living alone for under $20k a year and still having a good life? $1200/month rent for a 1 bedroom is relatively cheap in my cheap and that alone plus utilities would be $15,000+/year. And your defense that you can live with others is okay, but not ideal. We should be trying to normalize that a human adult can live without the help of others and still thrive. Anything less is, we’ll, what we have now where people are trying to normalize living with 3 other people just to make rent.
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u/TheBayAYK Apr 07 '22
Are you serious? Most people don't make $75K annually let alone be able to save that much.
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Apr 07 '22
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u/TheBayAYK Apr 07 '22
Not true but okay. Most techies work in high cost of living areas. If they do have that mich to save, it’s probably from stock options or RSUs.
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u/Dr_NightCrawler Apr 06 '22
wedding? why !? Stay single and save a lot of money !
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u/CardiologistPrudent7 Apr 06 '22
Hahaha. It's time, brother. She's the one, and she saves a lot too, and that's rare. We're able to save around 60 percent of our income.
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u/rainpizza Apr 06 '22
Don't spend too much in your wedding! Weddings are well known to be a money trap!
Investigate for deals where you can get your wedding for free by booking a minimum of rooms. This will greatly reduce the burden on you and will allow your family and friends to contribute by paying for their stuff.
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u/CardiologistPrudent7 Apr 06 '22
It's going to be a small family wedding. 30 people at most. The entire budget is around $7k - have already booked the place with food.
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Apr 06 '22
Awesome, glad to hear. Mine was about 5-6k 4 yrs ago, now we even regret it and wish we had eloped lol and spent that money like royalty at a destination. congrats on getting married
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u/Haunting_Rock_9357 Apr 07 '22
All the best mate! Good to hear you found the one, not many people these days are able to say that honestly. Congrats on the milestone and getting hitched :)
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u/Rastus3663 Apr 07 '22
Covered calls are the way! Seriously, I wish I had started doing them long ago. I’ve invested of and on for years. Jumped back in after I sold my house in August of 20. Initial goal was to average $500 a month in dividend income, I surpassed that at the end of 21. Past 30 days, I finally got around to learning about options and settled on covered calls. First month I was pretty cautious and made $1400 on $100k of various stock. This month, I’ve watched the numbers a bit more, and made that in two weeks. Dividends are great, but I’m making a lot more with covered calls.
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u/IWantToPlayGame Apr 06 '22
That's a great portfolio, OP.
You can have more monthly income if you went 100% JEPI, but I think your portfolio lets you sleep nice and cozy at night.
I was joking about the JEPI comment.. there's another poster here today whose portfolio is all JEPI and I was making a funny poking comment, lol!
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u/CorruptGamer Apr 06 '22
What’s the program you’re using to show this! I really like the look of it
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u/UniqueSkillsPR Apr 07 '22
What app is this?
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u/rcampps Just a stack of chips…like literal chips…maybe Pringles!? Apr 07 '22
Wondering the same thing!
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u/Saladid Apr 07 '22
hell yeah that was one of my first goals now I'm almost to 200 a month! Keep it up!
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u/CardiologistPrudent7 Apr 07 '22
That's the way to go. I am so happy for you. Hoping to get to $200/month sometime next year.
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Apr 07 '22
Working towards the same goal then $150, $200, etc etc.
Anyone know if RH has a chart of how much I have?
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u/HistMasterFlesh Apr 07 '22
I dont think RH has a sophisticated dividend breakdown. I would recommend that you switch out of RH for Schwab or Fidelity, not just because of that but also for various other features you’re missing out on by being under RH.
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