Actually it’s been a busy two weeks. Work has ramped up quite a bit as we rushed to complete several transactions (before Brexit tanked the market). Last week I worked over 60 hours and this week I’m not too far behind.
Luckily, I’ve managed to stay productive on the financial independence front. The great concern has always been that I’d sacrifice dollars for convenience when work becomes stressful. But I made it a point to bike or walk to the office every day, order all of my food on the firm (thanks to our overtime meal reimbursement policies) and avoid any sort of stress relieving activity that would cost money (think alcohol).
So what did I spend money on this week? Index funds! While I didn’t have an opinion one way or the other about Brexit, I was pretty darn happy when I saw the markets crash this morning. Being a sucker for stocks at a discount, I immediately snatched up $6,000 worth of VYM, leaving another $13,000 ready in case the market drops even more.
Now, I don’t normally encourage timing the market. In fact, I think it’s pretty useless because you miss out on dividends and any potential gains (if you time the market wrong). At the same time though, I’ve been stuck with a decent amount of idle cash for awhile now, and I just couldn’t bring myself to invest that much in what I believe is still an overly inflated market. My hope is that everything will keep dropping over the next few days so that I can time the market one last time and invest the rest of my cash. After that I’ll start auto-investing a set amount from my paycheck every two weeks.
In addition, I’ve loaned $4,900 to a friend to help speed up his journey to financial independence, because hey! Financial journeys aren’t solitary. We can all afford to help each other get there (more on this in a later post).
Finally, one small setback happened at work. It turns out that the firm accidentally deposited over $2,000 into my retirement account awhile ago. Now they’ve taken it all back. As a result, you’ll see in my next update that my net worth hasn’t increased all that much this month. But that’s just a small bump in the road.
Anyways, I hope to update you all more after my work dies down. I have several adventures coming up that I’m itching to share.
Happy Friday everyone!