Melissa's Millionaire Investing Goal
By Melissa | 5 min read
Date: February 13, 2020 | Updated on July 25, 2021
Date: February 13, 2020 | Updated on July 25, 2021
Welcome! I'm Melissa, a regular teenage girl who is learning to invest from my Dad. My father has achieved financial success through the tradition system of getting a strong foundation in education; focused on career aspirations; saving and investing; and simply enjoying life along the way (Melissa's Travel and Adventure Blog). My goal and aspiration is to follow in my Dad's foot-step and to achieve millionaire status before I turn 40 years old. Sure, I've a long way to go but with an early start I'm confident I'll meet my goal with a little guidance from my Dad :-)!
The backstory: I started investing when I was 16 years old in 2020. We live in the Space Coast area in central Florida. Long before the pandemic, I started my very first part-time job at 15 years old in 2019. At the height of the pandemic in March 2020, my Dad said this is an investment opportunity of a lifetime. To give me a leg up in life, my Dad opened a custodial ROTH IRA account for me and invested what I earned (e.g. after taxes) in 2019, which was $1024 dollars. With no transaction fees, my Dad purchased mostly companies that I know and love. For example, I love and cannot get enough of Chipotle which he purchased 1 share for me and continue to hold onto that single share, probably indefinitely or as long as I continue to see long lines at the stores. Next he knows I love and want a Tesla car. Since Tesla stock was very expensive, he purchased the next best thing which is the Tesla of China, Nio. And of course, Snapchat which I use everyday! My Dad had since used some of the big winners to purchase other companies; to spread out my risk for the long-haul. My current account balance and holdings as well as 2020 transaction history snippets are listed below. My Dad and I will provide regular updates. His message to me and my message to y'all is INVEST EARLY, if you can. It is difficult when you're young and want to spend money on trending things, to follow the crowds to every last dollar. But with my Dad's help, I've learned to avoid this pitfall of spending all my hard earned money, to at least allocate some portion for investing.
The backstory: I started investing when I was 16 years old in 2020. We live in the Space Coast area in central Florida. Long before the pandemic, I started my very first part-time job at 15 years old in 2019. At the height of the pandemic in March 2020, my Dad said this is an investment opportunity of a lifetime. To give me a leg up in life, my Dad opened a custodial ROTH IRA account for me and invested what I earned (e.g. after taxes) in 2019, which was $1024 dollars. With no transaction fees, my Dad purchased mostly companies that I know and love. For example, I love and cannot get enough of Chipotle which he purchased 1 share for me and continue to hold onto that single share, probably indefinitely or as long as I continue to see long lines at the stores. Next he knows I love and want a Tesla car. Since Tesla stock was very expensive, he purchased the next best thing which is the Tesla of China, Nio. And of course, Snapchat which I use everyday! My Dad had since used some of the big winners to purchase other companies; to spread out my risk for the long-haul. My current account balance and holdings as well as 2020 transaction history snippets are listed below. My Dad and I will provide regular updates. His message to me and my message to y'all is INVEST EARLY, if you can. It is difficult when you're young and want to spend money on trending things, to follow the crowds to every last dollar. But with my Dad's help, I've learned to avoid this pitfall of spending all my hard earned money, to at least allocate some portion for investing.
Date: July 25, 2021
Quick update -- rebalanced some winners to free up fund to add 1 share of Las Vegas Sands (LVS) to my portfolio. LVS properties included The Venetian Resort Las Vegas and similar properties around the world. It took a hit from its last earning. My portfolio moved higher from Chipotle and Snapchat earnings this past week, two of my favorite stocks.
My portfolio is now up over 265% from my initial investments in a little over a year ago.
Quick update -- rebalanced some winners to free up fund to add 1 share of Las Vegas Sands (LVS) to my portfolio. LVS properties included The Venetian Resort Las Vegas and similar properties around the world. It took a hit from its last earning. My portfolio moved higher from Chipotle and Snapchat earnings this past week, two of my favorite stocks.
My portfolio is now up over 265% from my initial investments in a little over a year ago.
Date: July 3, 2021
Happy 4th of July y'all. I'm super excited to report that my portfolio continues to perform beyond my expectations. My portfolio is now up over 250% from my initial investments in a little over a year ago. To re-cap my ROTH IRA contributions:
Happy 4th of July y'all. I'm super excited to report that my portfolio continues to perform beyond my expectations. My portfolio is now up over 250% from my initial investments in a little over a year ago. To re-cap my ROTH IRA contributions:
- 2019: $1024.00
- 2020: $178.50
Date: June 20, 2021
My Dad rebalanced some of the holdings from the last update, in order to take advantage of a large drop in NIO and silver (SLV). NIO has since gained about 12-15% as it announced expansion into Europe toward the end of this year. On a side note, I've earned close to $800 in my part-time so far in 2021. My Dad and I plan to contribute whatever amount I earned in income for next year's tax filing. I'm super excited to continue to grow my investment. Invest early y'all!
My Dad rebalanced some of the holdings from the last update, in order to take advantage of a large drop in NIO and silver (SLV). NIO has since gained about 12-15% as it announced expansion into Europe toward the end of this year. On a side note, I've earned close to $800 in my part-time so far in 2021. My Dad and I plan to contribute whatever amount I earned in income for next year's tax filing. I'm super excited to continue to grow my investment. Invest early y'all!
Date: April 10, 2021
In consultation with my Dad, we made some changes to my portfolio by adding some Cryptocurrency using the Grayscale trusts for Bitcoin and Ethereum. To fund these purchases, we sold some of my winners in Citibank, Embraer, and General Electric. The basic idea behind Cryptocurrency is to diversify my holdings with approximately 4% of my account. This is to add some high risk high reward vehicle to my portfolio. As of this update, my overall portfolio is up 272.63%.
Today, my Dad deposited $178.50 into my Roth IRA account. This is from my 2020 earned income. I quit my part-time job due to the Pandemic but will start a new part-time next week (yeah-excited!). Next month's update will reflect this deposit and potentially existing or new stock purchases, which I'm super excited. Sooooo-Yay!
In consultation with my Dad, we made some changes to my portfolio by adding some Cryptocurrency using the Grayscale trusts for Bitcoin and Ethereum. To fund these purchases, we sold some of my winners in Citibank, Embraer, and General Electric. The basic idea behind Cryptocurrency is to diversify my holdings with approximately 4% of my account. This is to add some high risk high reward vehicle to my portfolio. As of this update, my overall portfolio is up 272.63%.
Today, my Dad deposited $178.50 into my Roth IRA account. This is from my 2020 earned income. I quit my part-time job due to the Pandemic but will start a new part-time next week (yeah-excited!). Next month's update will reflect this deposit and potentially existing or new stock purchases, which I'm super excited. Sooooo-Yay!
Date: February 13, 2021
First update, almost one year anniversary and my account balance stands at $2715.58, which is a whopping increase of 265.19% from my initial investment of $1024. One of the reasons my Dad took some winners off the table to buy other beaten down stocks is to help spread the risk in various industries and to preserve my investments.
First update, almost one year anniversary and my account balance stands at $2715.58, which is a whopping increase of 265.19% from my initial investment of $1024. One of the reasons my Dad took some winners off the table to buy other beaten down stocks is to help spread the risk in various industries and to preserve my investments.
2020 Transaction History:
About Mr.848days (aka Dad)
Mr.848days is an engineer for a leading American technology company. In his spare time, he enjoys weight training, walking, stock market investing and option trading, traveling, and spending quality time with his beautiful family especially his daughter (aka Melissa)
Mr.848days is an engineer for a leading American technology company. In his spare time, he enjoys weight training, walking, stock market investing and option trading, traveling, and spending quality time with his beautiful family especially his daughter (aka Melissa)