April Investment Income- $27.50
May 6th, 2008 | by Tight Fisted Miser |This is not my actual investment income. To get this figure I first add up my retirement accounts, emergency fund, and any other money I consider permanent savings. What the total of my savings would earn at 6% interest for a month is my monthly investment income. The 6% figure is the highest interest I can earn in an FDIC insured account right now. My plan is to eventually have my investment income equal or exceed my expenses. My expenses were $1581.53 in April so I have quite a way to go. The total of my expenses should go down though, making the gap not quite as large.
I just started reporting this figure now because I should now make enough money to be able to contribute enough to my savings to have this figure consistently rise. However if I’m no longer able to get 6% interest or my stock fund declines significantly the amount could still go down. I’m hoping that won’t happen and my contributions will be sufficient to cover any minor fluctuations.
3 Responses to “April Investment Income- $27.50”
By Mom @ Wide Open Wallet on May 8, 2008 | Reply
This post motivated me to figure out what my monthly interest earned on all my savings accounts is. To my great surprise it is about $40 a month, way more than I would have guessed. It’s inspiring!
By Tight Fisted Miser on May 9, 2008 | Reply
That is pretty good. Is that the actual interest or estimated interest like mine?
By Mom @ Wide Open Wallet on May 9, 2008 | Reply
It was actual. In March we made 40.30 and April we made $38.66. Pretty cool!