With any journey, one must start by taking small steps. On June 11, 2018 I opened my M1 Finance account with $100 (the minimum opening deposit). I did not know much about dividend investing, but I had a list of 40 odd stocks and 1 ETF that paid a monthly dividend. I figured I would start with that. If nothing else, I might see a couple bucks in dividends after 30 days had passed.
Now, keep in mind, that I opened this account on June 11, 2018. June 12th was the start of a downward slide that caused much angst among my friends who day were traders and not investors. Also, these results are not for a whole 30 days.
Now I did add another $270 in deposits and added quite a few more stocks into the mix. I will not go into the total mix of stocks, because one can probably deduce the lists fairly easy with a simple google search. As I type this blog post I have approximately 110 stocks that my money is spread thinly about. I admit, it is spread way to thin. Nothing can happen with some of these positions. For example, I have 0.11188 shares of Snap-On Inc and 1.07739 shares of Orchid Island Capital Inc. and a whopping 0.0003 shares of FedEx Corporation.
Also, the photo is going to show portfolios with no holdings. These are portfolios where I am actually researching the companies in the lists (found via a google search), before I add approximately another 300 companies to my portfolio. My goal is to eventually work my way down to a manageable portfolio of approximately 50-60 companies spread evenly across all sectors and sizes. I will post in more detail later as to what my strategy is towards building and maintaining this dividend portfolio.
However, in the drive towards my goal, accountability is required. Below, is a photo of my spreadsheet showing my results of my “shotgun” approach to dividend investing.