How I Became Financially Independent (Storytime)
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- Опубликовано: 20 окт 2024
- Here’s the story about how I went from living paycheck to paycheck to living off the dividends of my stock market portfolio.
I think this covers most of the important milestones from when I started investing until now, and of course, there are many other things along the way that happened too. So if you liked this, we can always do more storytimes!
Anyway, it really did come down to what I've been saying all along. Consistency and time. Time really was the main factor as there were many years that I wasn't adding much money myself, but time did its compounding magic.
And while I still don't claim to be 'rich' or whatever that means to most people, I can live off the dividends from my portfolio, so I feel blessed that I made a good decision when I was younger.
I hope you enjoy the video about how I became financially independent.
All the best,
Tracey x
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INSTAGRAM:
@traceyedwards.insta
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MY SECOND CHANNEL (Lifestyle)
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DISCLAIMER:
Investing carries risk.
The content in these videos is my opinion and is not intended to be substituted for your financial situation.
Please do your own due diligence and seek professional advice where necessary.
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Sometimes i joke that when i grow up I wanna be Tracey Edwards! 😊 Thanks for sharing your story Tracey!
Great vid.
It probably took me 3 years of investing to work out I was a dividend investor. I wish I hadn't faffed about at the start of my journey too.
Great run down Tracey, Luke from Adelaide
Would love a new book from you! I love how you write, it's fun and easy to understand. Do you have an idea what you're going to write about?
With all your content, you've really helped and inspired me on my journey towards becoming financially independent.
Thanks Tracey, had smaller insights into how you got into it before. But it was refreshing to have a video like this one.
And yes, I've found you incredibly inspirational since I stumbled on your channel a couple of years ago.
It seems so far away it's daunting. So it's awesome to see someone who has done it - that it can come together in time.
Also love Peter Thornhill and Family Finance (although she seems to have stopped RUclips - probably ASIC related).
I just feel I'm listening to my best friend talking. Thanks for sharing. I really like your video. I want more!!
I love your transparency and attitude 👌
Thanks Tracey, great to hear your story. Yeah reality management not my thing either. I love being financial independent.
Thank you Tracie for this video (leverage and compounding!!) i am joining your dividend shopping journey!! what an Inspring story 😊
Always inspiring Tracey, i read about dividend investing in 2018 and have been following your video and investing since.
Thanks for sharing Tracey. Always share with my kids that have got them into investing at v early age 18 & 22. So big thank you !
Great reality story, I needed to hear this. Thanks so much for sharing Tracey. I am now inspired to begin my journey through your videos :)
Thank you for sharing your journey. Very inspirational.
Love this. I started with a list of 'trading principals' I derived from Buffet's teachings also
Love this video Tracey, I’m reading and looking through so much info. But really need to start😢.
Thanks for posting this Tracey, it’s very inspiring
Great information. Tks Tracey !❤
Been waiting for this one!❤
That was very interesting to hear your backstory! Thanks for sharing!
Thanks, Tracey, it is really inspiring and I am starting my first steps! Keep up your good work on RUclips!
Thanks Tracey , really love your honest and open advice . Cheers 🫡👍🙏🇦🇺
Thanks Tracey. You are honest and inspirational.
Love your content and have only found you in the last few weeks - and I'm in love with how you think and have followed your strategy - also just ordered your book to give to my 22 yr old daughter to hopefully get her thinking on the investing path.....
That's the ticket! 🙌
Tracy, if you are going to write another book some information, direction or guidance in a style to help parents teach thier kids, young adults the process to achive FI would be great. My kids are sick of me preaching and maybe reading something for themselves with some first steps for them to do to reaffirm the process could be an idea. I'll be setting my apprentice son who lives at home up with a vanguard eft which he will put a weekly contribution to mainly to fund is next vechile in 4 years time. Im forever tying to stop him getting cought up with his tradie mates who go into huge debt with new 4x4, jet skis, boats and the like. Anyway just something i havent read or seen in the Austrailian space, for your consideration.
Awesome idea. Thanks!
Thank you for sharing, so helpful...I'm Going through similiar stage, made some doozy mistakes lol. Trying to set it up as a dividend portfolio, looking at your other amazing videos, to get better understanding.
After nearly three years of studying a trading course, and looking daily writing info up (tiring and time consuming), so having a dividend portfolio sounds so much better and less time consuming. .
If you don't mind me asking, how often should it be checked on weekly, or quarterly?? Thank you in advance for any reply Tracey :)
I usually look monthly but mostly to see which dividends are coming in and what date. I usually only rebalance or change things once a year or so though.
Thanks so much! So glad my videos have helped. Good luck with your journey, but it sounds like you're doing well :)
Thanks Tracey, looks like u did well by living off the dividends,, how much should I invest to get 5K dividends/month, Would that be close to million dollars, I am ok with that, but how long does it take? 20 years? u sound u did this very quickly?
Nice and inspiring
Timing is important
hi, Tracey. I'm learning a lot of things from your videos and I really appreciate your work. I just wonder if I put my money into dividend investing, do I need to pay taxes by myself. and which companies do reinvesting dividends? looking forward to your respond, thanks.
Hi, most of the big companies have a dividend reinvestment plan - it’ll say on the company page of your trading account. Usually under the summary section. And taxes are paid at tax time, the trading account you use should have a list of the stocks you own and the franking (company tax) already paid so it makes it easier to fill in your tax form. Hope that helps
@@TraceyEdwards hi, Tracey. So the franking is 100%, that means we don't need to worry about taxes?
100% Franking means the company tax of 30% has been paid. If your personal tax rate is less than 30% you’ll get a tax refund on the part you didn’t have to pay. If your personal tax rate is higher than 30% you’ll only have to pay the part above that but not the first 30%. It really depends on your personal income as a whole at tax time. It sounds more complicated than it is. When you do your tax it’ll calculate it for you.
@@TraceyEdwards thanks for your messages. I understand half of it.I will do more searching to comprehend it. Once again,thank you so much
I have rewatched many of your videos already, so may I ask how much is your weekly rental now?
Is being financially independent (via dividend investing) possible through the ASX alone or do Aussies need to have international share exposure as well?
I only have Australian shares and ETFs, so yep :)
@@TraceyEdwards Thank you so much for your prompt reply. You are providing a great service to the average person.
I would like to know whats ur fab stocks and etfs for 2024 , suggest me some plz …
Dividends!!❤
Love your book 'Shopping for shares'!!!
Thanks for this video
aww and thank you for your support! x
Beside watching your videos on dividends, I also want to look at your vlogs as well!!!😅
I totally need to start up my vlogs again! Thanks for the reminder :)
I thought you bought and sold a property - did that give your stock investments a boost?
yes. Although we only had the property for five years, so after paying back the bank loan, paying closing and legal fees, and splitting the remainder with my ex, it wasn't as much as you would think. But yes, that went into my portfolio as well.
Thanks for sharing. I enjoy your videos.
With dividend investment, are you concerned that there is every chance that your principle depreciates?
no, that's never happened to me.
Depends on the company. Dividends are paid out of free cash flow. If the company pays out all of its free cashflow as a dividend, and doesn’t retain anything to reinvest in growing the business, there is a high probability that capital base won’t grow or the company will have to cut its dividend in order to reinvest more in the business and the share price will drop a lot for a couple of years (like Telstra from 2005-2017)
@@TraceyEdwards Yet your principle has retracted on yhp over the past 5 years and has retracted on vhy over the past year. Doesn't happen to you? What are the 13 stocks you hold?
Are you talking about the general decrease over the whole market? Over the last year the ASX200 has decreased about 2%, and so most stocks, including dividend or not, if they follow the market will have similar results. And since VHY is an index ETF it makes sense that it would follow this pattern too. But it's also increased over 25% over five years. Which again is in line with the ASX200, plus it's provided strong dividends all throughout this timeframe as well. My portfolio is very much in line with general market conditions, even if some do better than others. As I would assume anyone with a healthy stable diversified portfolio would have similar results.
Hey...You look much younger.
¿A new diet?
It definitely works.
thanks! and yes I've been working out and eating better (and I did just get more blonde in my hair) :)
@@TraceyEdwards By the way I have been investing in dividends for 9 years and I receive 550 euro after taxes every month. It´s still far from financial independence.
Easy listening.
Simple imbibing.
And a timely reminder to get started!
Thanks, T!👏🏼💰🫶