My main goal is to build a portfolio of $1,000,000 in 1500 days, starting from 1/1/2013. Every month, I provide an update on my status. My goal for 2013 was to get my portfolio up to $672,750, from a starting point of $586,043. I accomplished this in June and then raised my goal to $727,750 to account for the money I made selling our last home that I plowed back into the portfolio. Time to look back on the month of August.
August wasn’t great for the markets. The S&P 500 dropped 3.1%, but I managed to eke out some gains. My portfolio went from $752,915 to $762,667 for a gain of $9,752. Here are the details (as of 8/31):
- Days elapsed: 241
- Days remaining: 1259
- 2013 gains: $176,624 (including my contributions)
- Left to go (2013): Goal accomplished!
Gains in a Down Market
Similar to last month, my gains were the result of my stock holdings. Facebook and Tesla Motors did particularly well this month, propelling my portfolio to a new high.
Note that my cash went down a bit. This is due to my ongoing home improvements. This stuff always costs more than you think it will. I’ll take a $10,000 hit in September.
Finally, my recent success needs to be put in perspective. Long time readers will remember how Apple dragged down my portfolio in the first quarter. Fooling around with stocks is a risky business that I don’t recommend for most people. I hardly ever buy stocks and do it only after very careful consideration. Sometimes, I’ll research a stock for years before deciding to purchase it. Anyway, I’ll post my entire portfolio soon as well as the reasoning behind each purchase. Stay tuned.
2/3 of the Year in the Bag
Can you believe that the summer is already over? What a year it’s been for the markets so far. However, we’re facing near-term headwinds. It looks like the beginning of the end of the government bond buying program is near. A conflict with Syria also looks like it’s right around the corner.
Despite this, I’m optimistic for the rest of the year. If I had to guess, I’d bet that my portfolio has a little room to grow before we see 2014. Bring it on!
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