June 2021 Portfolio Update
We have reached June 2021, the sixth share portfolio update on the path to achieving a $1 million dollar portfolio. Now that it is the end of financial year the portfolio has crossed the 6 month mark. Investment has been low this month as I pay down debts for university studies. HECS fees have a great interest rate and low debt repayments compared to other loans. However, the incentive to receive an upfront 10% discount on fees is too good to pass.
Building on the portfolio from May 2021, I have invested an amount of $1,000 into my Pearler Account in ETFs. This is in line with my strategy to diversify and provide more stable consistent return and growth. This month, I focused on tax time. I undertook a review of my tax affairs to identify strategies to reduce tax. For a breakdown of the top 10 tax tips have a read of the article I wrote here.
Goals June 2021
Unfortunately, I did not reach my 6 month goal to achieve an overall portfolio value of $20,000 by end of June 2021. However, with the balance currency being $18,500 across the Pearler and Superhero platforms I surpassed a more realistic target of $18,000 that I set to reach by the end of the financial year. To ensure that I stay motivated, I will revisit the goals to encompass setbacks and set smaller, more achievable goals.
Superhero Account
The Super Hero portfolio portfolio will continue to remain stable with little growth in the short term. Currently, I have chosen to focus on building the balance of ETFs rather than investing in individual stocks. However, I will look to increase the investment in shares in the future.
Pearler ETFs
Firstly, I have continued to invest in ETFs with Pearler even with a high price mark. This is because I prefer to dollar cost average than trying to time the market. Secondly, I will continue to slowly build the Vanguard (VAS) investment to provide a stable return over time. Thirdly, I am currently at 3% of my target goal is to reach a portfolio value of $100,000 in 5 years. The small incremental amounts in the short term can seem insignificant. More importantly, it is the consistent contributions of these small amounts that will enable the compounding to grow the investment over time.
Non Fungible Tokens
The other objective was to learn more about the world of Non Fungible Tokens (NFT). Some areas of finance and investing have studied at university and have a good understanding of how it functions. In saying that, there are always opportunities to learn more about new topics. NFT’s is one of those new comers to the market within the world of digital art. They are reshaping how collectors transact and acquire unique digital copies of artwork, collectables, music, film and fashion. The Binance NFT marketplace was also introduced this month providing a high quality platform for users to launch and trade NFT’s. For a review of NFT’s read about How to invest in an NFT for beginners.
Binance June 2021
In Binance, I chose to stake the Ethereum to support the network and earn a passive return. The funds have been locked until the roll out of Ethereum 2.0 that could take up to 2 years to be implemented. Once completed the funds will be returned with an interest component being earned for the period. In the interim I have received BETH tokens on a 1:1 ratio. Given my low tolerance for risk, I only have a small amount invested in cryptocurrency more out of curiosity rather than an expectation to generate high returns. For more of an insight I have covered some of these topic of passive income staking in my Binance Review.
Looking Ahead
Next month, I will aim for the $20,000 mark. I would like to invest in some blue chip shares that have a high dividend yield and generate a consistent return. I enjoy receiving the dividend income for cashflow that can be reinvested where I choose.
