vtsax-update-1

VTSAX Millionaire Journey Update #1: $55,035.15

This post began my millionaire journey with the Vanguard Total Stock Market Index Fund. If you recall I started it to encourage those, who want to start day trading, to do something a little more sensible with their money. What do I mean by sensible? Well, there is so much misrepresentation of being a day trader that I felt I had to show people there are other ways to build your wealth. If you can believe it I have read and answered over 1000 comments sent to me on this blog on the day trading topic. I have also watched people lose ALL OF THEIR MONEY due to said misrepresentation.

I hope you don’t think I am kidding. Here are some comments (truncated) just to give you a taste.

Comment #1: I was thinking of quitting my day job. They make it look so easy to make money I thought I would try.

My response: Promise me right now you won’t quit your day job. PROMISE ME!

Comment #2: I only have $5000 to my name. If I lose that I have nothing. Do you think I should start day trading?

My response: There is not a bone in my body that thinks you should start day trading if you have nothing left after possibly losing that money. Not one.

Comment #3: I have a full time job, a wife and kids. Do you think I can become a successful day trader so I can give them a better life?

My response: It sounds like you already have a great life. Be the best employee, husband and father first. If you find you have time when you have mastered that then ask me again.

Anyway, those are just a few of the comments/questions I get. So, I suggest you read the starting post here to familiarize yourself with why I am sharing this journey I titled Millionaire Journey with the Vanguard Total Stock Market Index Fund. It might not be fast and it might not be the most exciting journey but if I can save just 1 person from the misrepresentation on how easy it is to make money day trading I will have done my job.

With that said, let’s look at the numbers.

I was able to add in $4,771.51 which is a combination of previous income, trading, dividends, capital gains and option money. There was a $263.64 investment return which now brings (after 1 month) the Vanguard Total Stock Market Index Fund total to $55,035.15.

As always feel free to reach out to me here and ask me any questions you may have.

Until next month.

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Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
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