The Middle of 2020

Can you believe it is the middle of 2020 already? I am not exactly sure what to believe anymore. This has been a historic and nightmarish year for the history books. Just six months ago, I was writing how I was looking forward to the new year 2020. Now I just want it to end and move on to 2021. Of course, there is no guarantee next year won’t be worse than this year. As of now, New York City has entered Phase 1 of reopening. But after recent events, it feels more like jumping out of the frying pan and into the fire… Still, there is some sense of normalcy return as the warm weather has brought more people out to the parks and certain businesses start to reopen.

Looking back at the stock market over the past 6 months has made one thing clear. It is an unpredictable roller coaster. However, my financial strategy stays the same and the dividends keep coming in. There has definitely been slower dividend growth since last year as companies have frozen or reduced their dividend growth rate. This is understandable in the face of such uncertainty and a far better outcome then a complete dividend cut. My first pandemic related dividend cut was, luckily, my smallest position.

Back in 2019, I set financial goals for 2020 (never knowing the kind of year it would turn out to be). Overall, I am happy to report that I am still on course to achieving those goals. I set a three-tier goal system (bronze, silver, and gold trophies) for achieving a certain level of dividend income. Currently, I am closing in on the bronze! I also set a three-tier goal system (bronze, silver, and gold medals) for new stocks purchased. Happily, I am closing in on the silver! It has been a tough year. However, I am going for the gold!

Bronze Cup: Reach and/or surpass a forward annual dividend income of $10,500! (I am getting there!)

Silver Cup: Reach and/or surpass a forward annual dividend income of $10,750!

Gold Cup: Reach and/or surpass a forward annual dividend income of $11,000!

Bronze Medal: Add 5 new stocks to my portfolio! (Achieved!)

Silver Medal: Add 7 new stocks to my portfolio!

Gold Medal: Add 9 new stocks to my portfolio!

So, were do we go from here? I plan on continuing my investment strategy of building a passive income stream of dividends. The process is threefold: save, invest, repeat. Although it is already the middle of 2020, I believe the year can still be salvaged and that I can finish strongly with record dividend income. So, how about the rest of you?  Got any mid-year thoughts or re-evaluations? Let me know in the comments below.