I earned over $90 dollars this past week and ended March with just over $300 dollars in beer money income. However, I still have about $11 dollars locked up in Connect CloudResearch. Their payment system is having issues. They have not been extremely communicative, but they claim it is an issue on PayPal’s end. It appears they are looking into alternative payment systems. This is an important lesson on diversification and one that extends to investments.
I also added a new position, GOF, to my assets this week. GOF is a closed end fund. This investment is in line with my goal of reaching $100 in dividends as quickly as possible while attempting to reduce volatility – it is risky and it is speculative, but I think the choices I have made so far for income have been decent. Though as I said last week, I am prepared to sell at the first sign of a dividend cut.
Now that I’ve invested over $1,500 dollars, I do have doubts that I am making the right choices with this money. That’s not an insignificant amount and I definitely don’t want to lose it. I think SLG, PSEC, and even JEPI are probably the riskiest plays I have so far, so after I hit $100 a month I may start looking at diversifying further and going with dividend champions or achievers to smooth out my portfolio long term. As with the beer money income, diversification is key.