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Another milestone reached! My account reached 10k!

I reached my goal for 2013 today!!

My goal for 2013 was to recover my TD account after I almost wiped it out and reach 10,000 dollars balance.

A few months ago I haven’t expected reaching this goal at all. Since I decided to pay off my debt first I stopped contributing to my TD account regularly. I couldn’t see a way how to reach this goal.

But it happened.

Goals 2013

What’s next?

Although I understand that the value of my TD account may fluctuate and even drop below my 10k mark due to the market volatility, it may always recover back in some sort. This is why officially I stop contributing to TD account and focus fully to my ROTH account.

Since I trade on margin in my TD account I will only contribute from reserves to avoid maintenance or margin calls.

My next plan for the rest of the year will be to continue paying off the debt and contributing as much as I can to ROTH IRA account.

Once I finish with my debt I will contribute as much available cash as possible to ROTH IRA and continue purchasing dividend paying stocks as well as building cash for option trading. I will contribute as long as I reach the ROTH limit (currently $5500 annually) and if I still have available cash I will contribute that remaining cash to TD account and Lending Club.

I wish all of you happy investing and hope you also reached your goals. Did you have a goal or plan which you haven’t thought you would accomplish but it yet happened?

7 responses to “Another milestone reached! My account reached 10k!”

  1. Huge congrats, Martin!! Our goal (we just started our FI journey in January of this year) is to pay off our large amount of debt. Things started VERY slowly, but are finally picking up speed a bit. We will see how the year ends!

  2. Bret says:

    Congratulations! I remember my first 10k well. I also remember some of the thousands I’ve lost in options. However, like you, I now trade them much more intelligently so I’d say my “tuition” payments were well worth it! :)

    Good strategy to save while the market is rising. I hope you are pounding away on that debt!

    • Martin says:

      Bret, yes trying to eliminate the debt quickly. If everything goes as planned I should be done with it next year. As far as options yes I am trying to play it safe without losing money (knocking it down on the wood, but so far successfully, as you may check in my Income & Trades page). You made my day with the tuition. I paid a lot myself too :)) Hopefully I won’t act stupid again.

  3. Congratulations! You’ll find the next $10k mark is a lot easier to reach. Eventually they start passing by more than once or twice a year. Keep up the good work!

    Keep saving and don’t get over-invested. We will see another bear market (one day) and you need to be ready to accept losses before they get out of hand.

    Don’t forget how happy you were when you reached this level, and continue enjoying the fun in having your money work for you.

    – Alex Fotopoulos

    My Trader’s Journal

    • Martin says:

      Alex, thanks. Yes I try to keep that in my mind. I try to stick to a rule of saving cash when markets are running up and using that cash for purchases when they are falling. I keep some cash in reserves for that reason so I won’t be forced selling.
      Thanks for stopping by!

  4. Congratulations Martin! Any milestone is big as it continues to motivate each and every one of us to continue pursuing our dreams.

    • Martin says:

      W2R, thanks a lot. I know I am happy too. Just about a year ago my account plummeted to 2,000 dollars due to my losses in options trading, so recovering my account and reaching 10k is a great achievement to me although it may not look like much, to me it means a lot. Thanks for stopping by and dropping a word.

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