Firstly, I hope you guys dont mind me sharing my investment journey with you. I saw some others doing it and I thought its a nice way to share personal experience and also welcome other opinions and cautions.
Status: Married, with 1 3yo.
Salary: Personal Income $40K - Disability Sector (not including my wifes income combined income of 90K approx).
Assets in rank of liquidity:
- Cash: $530000
- Shares: $17000
- Emergency Fund: $100 (just started one)
- Car: $12000
- Savings per month: $2000 (split $1000 cash / $1000 Shares)
- Car Loan $5332 (approx)
I have been involved in the stock market since I was 18 years old. I made some terrible choices and put alot of money into small caps with the view of holding long term. At the time it was $10,000 but my income was obviously really small AND it was on debt.
Stocks I failed On
I failed on SBM, CFU, OEL and AYN (No longer listed). I have not technically 'failed' on CFU and a couple others since I have not technically sold them yet but they have lost about 97% of their value since interception lol.
I have since been taking investing more seriously by reading "Investing for Dummies, The Intelligent Investor, etc". I realise I wont become independent by just working 9-5 given my income therefore I wanted to change my whole strategy since the hits as a young bloke and decided I would stick with bluechips/growth stocks particularly with the tech sector. And, perhaps only allocate 10% to small caps, because lets face it they fail more than suceed (at least in my experience).
- Build a strong portfolio in strong companies over a 10 year outlook.
- Buy on dips, particularly when major events happen such as the GFC.
- Continue to educate myself and learn from more experienced investors.
- Become a financially strong family so my son can enjoy the things I was not able to afford when I was young such as overseas travel,school camps etc.
- AU - $8,530.04
- US - $6,513.98
- Cash in account: $962 approx.
-/+ in %
I decided I would purchase in $2000 blocks which therefore means I will purchase montly, however I really want to attempt to purchase on corrections and obviously if there is a massive correction then I would get hold of the savings (such as the GFC).
Still looking for an entry into some good tele companies (TLS comes to mind) and also some good companies in the food sector. WOW comes to mind and WES. But I am still learning and trying to be a bit more conservative. AYN, CFU and EGO were the shares that I held from 2010 and beyond. I sold out of some the other ones mentioned above which I bought when I got my first job (SBM etc).
I realise its not a perfect portfolio and I do wish to improve on it and get into some more sectors such as food.
Currently I have been watching: TLS, WOW, WPL, WES and would love to get into some banks one day when we get some GFC equivalent prices.
Thanks for taking the time to read, I will update accordingly if thats okay with you as there is no set rules with my stategy and I just buy whenever the markets are falling and as you cant the time market perfectly I just do the best I can .
(Credits go to Ryan C as I borrowed your layout when presenting my information).