1 Million Dollars

Friday, July 1, 2011

Update on the millionaire goal-June

It is has been a disappointing month for investing in the stock market. Even with adding $220, I now have less money in my investment then I did last month. As of July 1 we have $9856. I am very disappointed, I feel like every time I reach for this goal it just pulls farther away from me.

We have decided, now that the disability insurance is paid for, to increase the amount we put towards our investments to $420.90. $400 of that comes from our rental and $20.90 comes from the two percent reduction in FICA. Over this year, as I work I will be increasing the amount we put towards our investments but since I only work part time I do not expect to increase the amount much more than a dollar or two per month.

I might be able to reach $10,000 next month, if the market does not drop more than 3%, but it seems like the stock market is not work with me lately.


  1. I feel your pain. My stocks have taken a nose dive too :( It's discouraging because I've not been adding money into the investing pool (which would make it better because there would be more opportunity to buy low).

    With time, it will improve (I'm thinking September :) )

  2. They go down, they go up. I've been in the market now for more than 20 years. Since I have more of a 'growth' than an 'income' philosophy, every monthly statement is an exciting event. Sometimes bitterly disappointing, sometimes wonderfully exciting.

    Over the term, though, the trend has always been up.

    Keep your allocations the way you want them and ignore (as much as you can), the ups and downs. And don't invest money you need to live on!!

  3. I agree with Marie. You have to look at it over the long term. The short term will just depress you.

  4. @Precious, having short term goals pushes me to save/invest more and try harder even if I do get disappointed sometimes.
    @Marie, I do not invest (except in government bonds) money I need to live on, though I would love to be able to live off the income from the stock market at some point.