2014 Goals:
- Pay off my student Loan (Unsuccessful - $988 Left)
Pay off all credit card debt(completed 8/7/2014)Have a net worth of $22,000 (includes Savings, Checking, 401k, and broker accounts)(completed 9/7/2014)- Receive $100 in interest from my savings account for the year (Unsuccessful - Received $62)
- Receive $225 in dividends from stocks during the year of 2014 (Unsuccessful - Received $205)
Increase my yearly income by 5% or $34,257(Completed 12/16/14)
Half of my goals were completed successfully for 2014.
- I could have paid off my student loan in full since I only owed $988 but I decided the 3.4% interest rate was low enough to hold a balance
- I was short $38 for my Interest earnings goal
- I was short $20 for my dividend earnings goal
2015 Goals:
- Have a net worth of $50,000 (includes Savings, Checking, 401k, and broker accounts)
- Receive $1000 in dividends from stocks during the year of 2015
- Save 37% of my net income from all sources. (Annual Average)
Looks like you achieved a lot of 2014 goals and for those that weren't achieved you made some great progress. Great 2015 goals, looking forward reading your progress later.
ReplyDeleteTawcan,
DeleteMy new goals seem very reasonable, and I am ok with failing as long as it's close. Earning close to $1000 in dividends this year would definitely be a milestone. Cant wait to see how this year pans out. I am also looking forward to see the progress you make this year!
DM, you've got some great goals here, especially with the savings goal. The other two hing on your ability to hit that savings goal, and I'm sure if you stay focused you'll have no problem accomplishing that mark.
ReplyDeleteW2R,
DeleteI am looking at the savings goal as more of a top priority vs. the dividend goal. Even if I hit $800 for a total amount of dividends earned I will be happy. Should be interesting to see how the year turns out. It's getting harder to find value in the market right now so I am unsure of what my next investment will be.
Congrats on your results for 2014 goals and good luck with your 2015 goals. The goal of $1000 in dividends for the year will be a great progress compared to the $205 received in 2014.
ReplyDeleteDGJ,
DeleteThank you for stopping by. I feel like $1000 in dividends for a year is a milestone for anybody. I know I am behind the ball a little here, and have catching up to do. I look forward to seeong your progress along the way.
DM,
ReplyDeleteLooks like you had a great year. Though you fell short on a few, the gap was extremely small.
Best of luck with your goals this year. That's a big jump in dividend income, which would be fantastic!
Cheers.
Mantra,
DeleteLast year was a pretty solid year for you to. I am hoping we both have another great year in 2015 in terms of passive income. I am glad the gap was small like you mentioned, because it's solid progression in my eyes. You are right that the dividend income this year is a big jump if I can manage it. Even if I only hit $800 in dividend income, I would still be happy. Thanks for stopping by and good luck!
Great job on your goals Mongrel! The good thing about setting and tracking goals is that it focuses your attention and keeps you moving in the right direction. And even if you come up short on them you are likely still way ahead of where you'd be had you not set the goals. I expect you to be able to make a big jump this year once your student loan debt is paid off. That'll free up even more capital to save and invest with.
ReplyDeletePIP,
DeleteI couldn't have said it better myself. I was thinking to pay off the student loan in one lump sum but the interest is pretty low at 3.4%. I might just divide it up into 4 monthly payments and be done with it. I think it would come out to about $247 in 4 installments, but I would be free from holding any liabilities. Then I would be able to use all that extra capital for investment purposes like you had mentioned. Thank you for the ongoing support!
Good job overall! Almost 100% successful when we look at what's missing! Keep it up!
ReplyDeleteDivGuy,
ReplyDeleteI am happy with the success that 2014 has brought me. I am looking for to a much brighter 2015. Hopefully 2015 will be 100% successful depending on many factors. Thank you for the encouragement!
Great goals and I wish you the best of luck in achieving them!
ReplyDelete