Tuesday, November 18, 2014

Financial Goals : am I on track? (updated)

With only a few weeks before January, am I on course to meet my 2014 Financial Goals? Let's see.

In 2014, I have set myself some more precise goals: 

To respect, 75 % of the time, a monthly budget of less than 4 500 $. Last year I tried 3 500$ but failed badly. Let's not be too greedy and try 4 500$.

That is a big no. Big I said : NO.

To max out my TSFA and hit the 35 K$ mark. Right now, I have 27 200 $ in it. 5 500$ is available this year. I expect a yield of around 3 %, so I should be pretty close to 34 K$. One of my main stock is slumping at the moment (ABX). Let's set the goal for 35 K$.

No. As of now, my TFSA is at 30 924$. So, no, it doesn't look like I will reach 35 K$, unless Barrick Gold finds a golden solution. Catch it? 

To grow my net worth to 175 K$. I don't expect much revenue this year. Again, my net worth should be growing solely with compounding. If I am conservative, and set a 5 % yield goal, I should have close to 170 K $ by the end of the year. Let's set the goal for 175 K$

YES. As of now, my Net Worth is roughly 187 K$ (check it out here), thanks mainly to the Bull Market. So yes, I should attain this goal.

To hit the 135 K $ mark in my portfolio. Right now I have roughly 129 K $ (you can check it out here). I have a lot of cash flow. I need to invest some of it in new quality stocks. But, considering the actual bull market, I will be extremely patient in that regard. So if I hit the 135 K$ mark, it might solely be because of dividend income, interests and a favourable market that will grow my actual investments; and not because of new acquisitions. Again, I don't expect a lot of new income in 2014.

YES. If you check out my Portfolio, you will notice that it clocks the 144 K$. So yes, I am on the right track.

To stay out of debt. Right now we have almost 10 K $ on the margin. We shouldn't have any debt by the end of the year (apart the mortgage). That's the way we like it.

YES. The margin is at 0 $. So yeah, this goal will be attained. (Yeah!)

To find another form of investment. A land, a cottage, a house, a wood forrest. Anything that diversify our assets.

Nothing new on this front. Still searching. Sort of.

What do you think, is it a good year ?

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