At the end of every year I like to take some time to look back at my last years goals in review and also plan a little bit ahead for the year to come.
Here is the list of goals I set out for myself at the beginning of 2016 and the dates of the ones I completed.
GOALS FOR 2016
Have $150,ooo in my self directed investment account*Complete May 20*Have $125,000 in my company pension.*Complete July 22*Get pre-approved for a rental property*Comlete Aug 1st*- Buy a rental property and slum lord it up *NOPE*
Save money for trip to Cuba*Complete June 15*Earn $6,000 yearly in dividend income*Complete Dec 30*Have over $30,000 in cash for market crash*Complete June 28*Open a margin account for market crash (only to be used if Dow drops +40%)*Complete May 3*
I had a very successful year in the market (like everyone else) and finished 7 out of my 8 goals I set for myself.
The single goal I never finished was to buy a rental property. There are several reasons for this but the main one is the house prices here in Vancouver have started to show signs of weakness (YAY!). I don’t want to buy at the top and there is no stop loss on houses.
Some of the goals need to be adjusted moving forward. For instance, my LIRA account was over $40,000 higher than I assumed as I tallied the contributions with 0% growth. It is currently at $171,000 so I need to revise that on my 2017 list.
Below is a list of goals for 2017 that I made in Jan 2016. I have already passed several of these and need to revise up.
OLD GOALS FOR 2017
Have $175,ooo in my self directed investment account*Complete Oct Updated Below*Have $135,000 in my pension*Complete Updated Below*- Save money for trip to Hawaii with kids
- Earn $8,000 yearly in dividend income
Have over $40,000 in cash for market crash*Complete Nov Updated Below*Increase my margin account to be ready for a market crash.
NEW GOALS FOR 2017
- Have $225,000 in personal investment account
- Have $175,000 in LIRA pension
- Save $50,000 in Cash or HISA or GIC for crash
- Increase my margin account to over $50,000
- Don’t have a dividend cut
- Dividend increases by 50% of my companies
- Earn $8,000 in total dividends by the end of 2017
- Increase my dividend payout an average of $170 per month ($2,000/12).
- Have one month that breaks the $1,000 mark
- Have my investments beat the market by over 0.01%
Expectations
I set my goals high.
I’m not sure if I can reach any of these goals let alone all of them, but as long as I’m trying, I’m moving in the right direction. Life has a way of ruining your best laid out plans and I fully expect there to be bumps along the road. The trick is to not get discouraged and keep pushing forward.
As a DGI/Value investor, what are your goals for 2017?
Congrats on crushing 2016. I like your aggressive 2017 goals. Best of luck hitting all of them. I haven’t set my goals yet.
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Thanks 🙂
My 2017 goals are going to be tough. I set them very high for this year and things will have to go pretty smoothly to make it.
Looking forward to reading your goals.
Thanks for sharing your investment goals for the upcoming year (trip to Hawaii sounds nice too!) I’m still working on mine as well. This is great inspiration though! 🙂
Jay recently posted…Trend Following Stock Trade Ideas for December 2016 (Part 2)
Thanks Jay.
Nice goals Steve. I’m curious to know what happened to the trip to Hawaii with the kids? 😉 I like the Homer graphic at the beginning of the article too!
I am reviewing my 2017 goals now and will publish them in a bit. My side gig is complete, so more time for writing! I like your ‘break $1k mark’ goal. I hope to do that a bunch in 2017 as well!
Dan
Passive Income Dude recently posted…Income/Expenses: November 2016
Hey Dan,
Hawaii is planned for next year. I’m kind of in the middle of job transition so I’m not sure how that will turn out.
The $1k mark is a very unlikely goal but I like to set my sights high!
I look forward to reading you r plans for the new year.
Steve
Congratulations on meeting most of your 2016 goals. I like how you make 2 years of goals instead of one. I once read that it is good to achieve 80% of your goals. If you do all 100%, they were too easy. If you get less than half, maybe they were just unrealistic. Although, not forcing a buy on a house just to meet a goal is smart. That decision is a big one. Good luck to you,
DM
Hi DM,
It’s funny you mention the house, It’s a very long term buy so I have to make sure my research is done properly before I pull the trigger. I won’t make a bad purchase just to meet a goal 🙂
It is one of the reasons I like dividend stocks. I can go and buy shares of Realty Income (O) tomorrow and not take much time. Buying a house will take a time commitment that I do not have right now. Good luck with your house research.
DM
Note: Own O
DividendMonkey recently posted…1 Year Anniversary
Nice work on hitting your goals! Personally, I had a few goals for 2016 but I couldn’t meet some of them. I got distracted along the way and due to time constraints.
But I am committed to making sure my 2017 goals will be on point! I am going to take a good long hard look at what I want and I will make sure to crush all of them this time round, thanks for the inspiration!
T@TheTirelessWorker.com recently posted…What does investing mean to me?
It’s not always easy meeting your goals. Life is always throwing wrenches into the best laid out plans. It’s so important to just keep your head down and keep pushing forward.
The way I see it is- It doesn’t matter if I reach all my goals as long as I am moving in the general direction.
Keep plugging along!
Well done, it seems like 2016 was a great year for you. I hope 2017 turns out to be the same and you achieve many, if not all of our goals. All the best.
Thanks Buy Hold Long
2016 was good, 2017 will be great 🙂
Great goals. I think most of them are pretty achievable if you stay focused. I tried to temper my expectations a bit this year because I tend to shoot for the moon but I expect 2017 to bring big things.
BTW, love the Bobby Orr picture on the goals page ! As a Bostonian, I can tell you, he is still a God here. Thanks for sharing and I wish you Good Luck in 2017 !
-Brian
Brian recently posted…PluggingandPlaying 2017 Goals
Hi Brian,
Growing up in a hockey house, we use to watch old highlight reels of Orr. I wish he didn’t have knee problems. Best defenceman ever.
Thanks for the encouraging post, I hope you reach your goals as well.