I try to set both financial and personal goals each year. It gives you something to work towards and I like tracking data and progress towards those goals.
So here are my goals for 2019:
Increase My Net Worth by $100,000– This is an ongoing goal I have every year. This is largely dependent on how the markets perform and over time it will become easier to achieve as my net worth continues to increase. In 2017, I crushed that goal. In 2018, I temporarily hit the goal, but Q4 wiped most of it away. Ultimately, I want to hit a liquid net of $2,000,000 by 2024. Difficulty of hitting this goal in 2019, I anticipate it will be difficult and the economy to slow. Side goal for the long term, I want to have one year in my life of making $500,000 off my investments.
Increase My Dividend Income to $28,000– This is another ongoing goal I have every year. I basically want to live on just dividend income, and seeing it increase every year is my hedge against inflation. To get there, I basically will depend on companies increasing their dividends, dividend reinvestment, and occasionally taking on additional stock positions. In 2018, I crossed $26,200 and I expect a minimum amount of $27,300 for 2018. Factoring in dividend increases and reinvestment of dividends, I easily expect to hit this goal. Longer term, I plan to hit $40,000 in dividends by 2024.
Reduce Wasteful Spending– I am still waiting on my final utility bills to come in for December, but looking at my spending for 2018, I wasted a lot. About half of my expenses were discretionary. I bought a few things I had been wanting for a few years like a computer monitor and a DSLR camera, but I wasted so much money on dating and going out. Largely, I expect to change the allocation of my spending. For my discretionary spending in 2019, I want to change how I choose to spend my money: less dating and more travel/camping trips. Basically, I need to be picky on who I spend my time with. Difficulty of this goal…should be easy.
Get Over a Broken Heart– The above were the financial goals. Now it’s time for the personal ones. I had my heart broken suddenly at the end of 2017, and sad to say again in early 2018 by the same girl. I never really bounced back after that one and sad to say I let it affect and interfere with my dating for the rest of the year, with me never really letting my guard down and not wanting to get hurt again. This one has been especially difficult and will probably continue to be. Unfortunately, there always seems to be a reminder popping up in the most random ways.
Leave Work For Good– I pretty much stayed longer than originally planned. Going back to work, I realize that it’s very hard for me to work for someone else. I don’t get why things are done the way they are in corporate America. There’s just so much inefficiency and I miss my free time, even if it means going to the movies during the week and realizing the only other people in the theatre are senior citizens. Difficulty of achieving this goal, pretty easy as I have already mentally checked out.
This doesn’t mean no work. In 2018, I started a side gig working for the city softball league. While it doesn’t pay much, I have fun doing it, meet new people, and don’t even view it as work…more so play time (the teams even invite me out to happy hour after the games). Being that I played baseball for a large part of my life, I love doing this. The city has even asked me to work a few basketball games soon. The hours are perfect and just a couple days a week, a few months out of the year, and it doesn’t affect the summer months for travel. This is basically discretionary money or money to put towards IRA contributions.
Get Back in Shape– This is something I most let myself down on. I didn’t compete in my ironman triathlon in 2018 and had to delay it. A broken heart coupled with work got me off of my fitness goals and I am actually in the worst shape I can remember. The start of the year was so promising too with 60 mile bike rides and 20 mile runs with big elevation changes, I was over half way there. I delayed my ironman for November 2019, so I really need to get back into it. Difficulty of hitting this goal, moderate. I’ve sort of lost my interest in being a gym rat. Hopefully more free time will allow me to focus more.
Build the Site Back Up– For a while I was averaging 50,000 visitors a month, even peaking out in October of 2017 at over 100,000 visitors after being featured on a couple of sites. Well, the heart break affected the site. I pretty much stopped coming up with new content and featured only portfolio updates after. I simply lost inspiration to create content, as I had starting writing content that was applicable to her, since she liked reading the info and learning. I had a captive audience of 1, and could cater content that would apply to her. I’m hoping to jump back into creating content for the site and have about a dozen topics right now, and I am toying around with the idea of adding a podcast or even videos on the site.
These are my goals for 2019, and will revisit them at the end of the year. What goals have you set for 2019?Follow me on the social medias: