I think that I am definitely getting old as every month I mention how fast time is going. But, I get to do my Ultimate Dream Fund update so I shouldn’t complain! July and August were both fantastic months for the Ultimate Dream Fund, so September had a lot to live up to. As you shall see in a minute, September did not fair quite so positively.
The Ultimate Dream Fund is named because it is our dream to retire early, and we need the funds to make that happen! One day, this fund will provide us with the money to live on when we leave our 9-5 jobs and time will be all ours. That’s the biggest motivator for achieving our goal. Being able to spend our time with our family is what we’re doing this for; there’s nothing more meaningful to us than that.
I’m going to post updates on our fund for two reasons. One, so that I can show that living a frugal lifestyle means that we can retire earlier than we should do and still live a good life on the journey. Secondly, to keep me motivated for the long haul. This journey is going to take us a long time, but it’ll be worth it in the end. This plan also includes us being mortgage free, so that our monthly outgoings are reduced and manageable. I did some sums a couple of weeks ago, and if we are mortgage free, we could make our monthly outgoings under £1,000 without too much effort.
The dividend payments I received throughout September have already been reinvested so that they are working hard for us already. Receiving dividends throughout the month means that I get multiple small pay checks each month. For doing nothing! I still love the dividend investing approach. Over time, the percentage reinvested will increase and so the amount needed to be saved from income will decrease, or we’ll be able to speed up the process! All of this is within my stocks and shares ISA which is with Hargreaves Lansdown. It is very easy to use and I’d definitely recommend them. You can get information about that here or even open an ISA today.
Related post: I’ve Started To Invest – Finally!
Related post: My Investing Journey So Far
As of September 30th, our Ultimate Dream Fund looked like this:
That is an overall increase of £465.90 for the month of September, which is alright. But, it does show what the markets can do. I transferred just under £900 into the fund during the month. However, some of my holdings have had a rough month. I secretly wanted to crack the £10k mark, but nowhere near! Hopefully October will be the month to do this.
Finally, here is the fund’s progress since I started it in June 2015:
I am definitely aiming to be in five figures by the end of October; I have some work to do!
How was August for your savings/investing targets?
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