My Millionaire Journey: I Put $50,000.00 in the Vanguard VTSAX Fund
After reading the book the Simple Path to Wealth I said in this post I would put $50,000.00 in the Vanguard VTSAX fund and add to it monthly. I decided to do it for 3 reasons. The first reason is that I plan to build an account that I can pass down to my kids. I am still young enough to build wealth and so I am building. The second reason is I want to show the process of growth and challenges to my readers in real time, to hopefully, inspire others to be patient and responsible with the growth of their money. And lastly after watching almost every single person I encountered over the years lose all of their money in a day trading chat room I had to do a 180 on my blog and find another way to help people in their journey to financial freedom. With that said… (BIG GULP with sweat rolling down my face while biting my nails) on January 10th, 2017 I began a new Millionaire Journey by putting $50,000.00 in the Vanguard VTSAX fund and will share the journey with monthly financial contributions and blogging updates.
I know that this journey will not be a fast one but as I said above I plan to add to it monthly and update my readers on that same schedule. Please know that I am not recommending that anyone try this because investing is always risky. In fact, we are nearly all time highs in the market and starting this journey 10 days before Donald Trump becomes the 45th President of the United States makes me nervous. However, I realize that this is not a sprint… This is not a marathon… This is an ULTRA MARATHON. I understand that there will be highs and there will be lows and I understand that greed and fear play a big roll as to why people lose money in the market.
Yes I will continue to trade but I will be turning my efforts of trading and this blog Beyond Debt to a more responsible money growing and nurturing place. The extra money made during my blogging, trading and photographing days will go into VTSAX monthly. If you have questions or comments I will continue to answer them honestly and to the best of my ability. In fact, I will answer a few before I even get asked as I can already foresee the questions.
- Why the Vanguard VTSAX Fund? – I could retell the story but if you read this book here I won’t have to. I do receive a small commission if you purchase it from the link… but don’t worry you won’t pay a penny more if you do. Or if you are on a budget and don’t want to spend any money then read the stock series by JL Collins. It’s more or less the entire book on his blog.
- What inspired you to post the millionaire journey and update us monthly? – I was inspired to post this journey from reading this post here. J. Money, the blog owner of Budgets are Sexy, shares his net worth journey regularly on his blog. That post plus JL Collins’ book inspired this journey.
- Will you still trade stocks? – Absolutely but I will not be posting or recommending any service as I find that there is too much misrepresentation, false claims and indifference towards subscribing members.
- Are you saying I shouldn’t try my hand at day/swing trading? – Who am I to say you won’t be the next Babe Ruth of trading. That is truly something for you to decide. However, I highly recommend that you understand that there is a high probability that you will lose money in the stock market. However, if you have extra money and don’t mind taking the risk then take your time, do your research and do what your heart tells you to do. If you have very little money then I suggest you watch these free videos and look into opening a brokerage account with Suretrader.
- Jul: $80,350.50 (+$4,566.81 ROI)
- Jun: $75,656.75 (+$4,329.85 ROI)
- May: $70,143.13 (+$3,110.17 ROI)
- Apr: $64,837.41 (+$2,108.41 ROI)
- Mar: $60,798.56 (+$3,063.48 ROI)
- Feb: $55,035.15 (+$263.64 ROI)
- Jan: $50,000 (This is the beginning)
If you have a question or you would like to share your millionaire journey please post it in the comment section below.