Saturday, December 28, 2013

Retrospect on my Annual Financial Goals

Hey FF! 

In 2013, I had set myself Financial Goals. 6 to be precise.

I had to respect, 75 % of the time, a monthly budget of less than 3 500 $.

If you look at my page Budget, you will soon realize this goal was utterly missed. Not once did I went below that amount. Actually, my whole year costed me around 62 000$, which is around 5 200$ per month, roughly 1 700$ above my goal.


I had to max out my TSFA and hit the 30 K$ mark.

I started the year with 22 100 $. It’s now clocking around 27 200 $. I reckon I invested around 5 300 $ My TFSA had a bad 12 months, mainly due to Barrick Gold’s painful year. I am almost 3 grants behind.


I had to grow my net worth to 350 K $.

This Financial Goal is hard to evaluate. The main reason is that I have decided to not cash in my Pension Plan. Therefore, this sum of money is now in the hands of the government. I will receive a cheque each month when I turn 60. I have given a lot of thoughts for this option. The rationale of my decision: this cheque will essentially become the « Fix Income» portion of my portfolio. It will enable me to be bolder in my other investments. For rock people : let’s say my portfolio will now almost be fully invested in stocks.

Not applicable.

I had to hit the 135 K $ mark in my portfolio.

I started out with roughly 129 K$ with a 50-50% repartition. I have now 129K$ with a 43-57% repartition. I have made small acquisitions: BCE, Power Financials and a steady buy of shares in an American Index Fund. I have a little bit less cash on hands. Again, the slumping of Barrick Gold hurts quite a bit, even in a bull market.


I wanted to stay out of debt.

We started out with 3 K $ on the margin. Now we have 10 K$. Plus the mortgage.


I wanted to find another form of investment. (A land, a cottage, a house, a wood forrest…) We didn’t find (nor did we look) anything.


Conclusion: it's fair to say I failed from A to Z. I will definitly have to set my goals so they can be reach this time around. I will think of something in the weeks to come.

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