I plan to post a summary of my finances about once a month or so to give you an idea of how my investments are doing and what my personal finance plans for the future are. At this point, I have about 95% of my money in stocks and 5% in a CD. Once my CD expires on 9/16/2008, I will transfer the money into stocks as the rate of returns are much greater and I am still young enough to take the greater risk as long as I do my research.
Just for fun, I used a spreadsheet to calculate what I needed to earn and invest to have a million dollars in investments by age 30. I included forecasted passive income from stocks, active income from my fledgling massage therapy business, and the approximate costs I would incur each year. It is more than feasible if I invest the money leftover from my active income. Though other investment vehicles such as CDs, mutual funds, and bonds have less risk than stocks, the rate of returns are much smaller especially compounded over a long period of time.
I am pumped about my future. Let’s see what I can do.
