August 2011 is over, yay!
Posted on | September 2, 2011 | No Comments
I’ve updated my Meager Income and Total Debt graphs through September 1st. I’m pleased with my progress toward reducing my debt. I can’t wait to break through the 255k mark and possibly 250k by January 1st. My monthly meager income has stayed relatively constant. I’d did use the dip early in August to buy additional stock which I hope will translate to additional monthly dividends in the near future. I purchased some stock just to get an even lot. For example, I had 650 shares of Citigroup (C) which after the reverse split became 65. I purchased 35 more to own an even 100. I plan on selling some covered calls against these holdings. I also purchased F5 Networks (FFIV), and The Boeing Company (BA). FFIV is a short term trade. I needed some capital appreciation and then I’ll sell it and purchase a dividend stock. BA is a more long-term trade for me. I’d been watching the stock for a while and couldn’t resist at the lower price and a 3% yield. On the flip side, I am concerned about a drop in technology spending that would affect FFIV and potential loss of government work that could adversely affect Boeing.
Additionally, I made a couple of changes to my ROTH IRA. I am now automatically funding it. Every month I’ll deposit $400. I also removed the automatic dividend reinvestment. I think I’ll have more control over what I purchase and at what price this way.
Finally, I calculated my net worth this evening and I was surprised to find that I was only down about 9%. Hopefully, we’ve hit the low for the year. However, if equities dip down again, I’ll increase my holdings.
I’m looking forward to Labor Day and the start of college football!
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