Monday, December 15, 2014

Financial Goals for 2015

It's almost the off-season and since things are quieter I have decided to take some time to draft my 2015 Financial Goals. It's a draft. What do you think?

In 2015, I intend to set myself these Financial Goals:

To respect, 75 % of the time, a monthly budget of less than 5 250 $. Last year we aimed for 4 500$ but failed badly. (partly because we hiked our spending towards investing, so not that bad).  Let's try 5 250$ and hope for the best.

To max out my TSFA and hit the 42 K$ mark. Right now, I have 30 K$ in it. It's not a great TFSA year. I have room for 8 459 $ this year. I assume a yield of around 5-6 %. One of my main stock is (STILL) slumping (ABX). Hopefully, my other stocks will compensate. Let’s aim for 42 K$. 

To grow my net worth to 200 K$. I expect more revenue this year. Right now, I have a Net Worth of 184 K$. With a yield of 3 %, that should take me to  close to 190 K$ solely on compounding. I should be able to add a few bucks in the mix. Not to mention the 8 K$ I put down on the capital of my mortgage every year. I will be very disappointed if I don’t hit the 200 K$ barrier (and more). Go get it boy !

To hit the 155 K $ mark in my portfolio. Right now I have around 140 K $ (you can check it out here). I still have much cash flow. I need to invest some of it in new quality stocks. But, considering the perpetual bull market (will it end?), I will be extremely patient in that regard. I should be able to hit this mark with compounding and new money.

To hike my Dividend income to 4 800 $ a year. It's a new goal! Right now, I have close to 3 K$ (2 977$). You can check it out here. I want to increase that number to 4 800$, which will represent 400$ per month. It's an increase of 37%. 

To stay out of debt. I don’t have any bad debt as we speak (apart from the mortgage, which is a good debt). That's the way we like it. 

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

What do you think ? Should I be bolder ?


  1. I like your 2015 goals. Of course, I think you'll be hitting your new dividend income mark in 2015 if you remain consistent with your purchases throughout the year. i think you can be quite bold just sticking with dividend stocks and going along for that ride. Thanks for sharing and look forward to following you on hitting your 2015 goals.

  2. Hey Div Hut. Thanks for leaving a message. I hope I will be able to attain my goals, especially for the Dividend on. But, with already 15 companies, and with share price at an all-time high, I am not sure I will be able to buy a lot more. Not unless there is a big correction. I have a drip in my RRSP, buy with, for instance, JNJ share at more than a 100$, it's pretty hard to add some more. I see you are doing pretty well yourself. Catch you on the flip side in 2015.

  3. Great goals for 2015! I especially like how you are aiming to diversify your investment portfolio. Diversification in income is one of my goals as well for the year, so we are both fighting the same fight. It never hurts to have too many sources of income anyway, right?

    Best of luck achieving your goals in 2015! Cheers.
    Bert, One of the Dividend Diplomats

  4. Yeah, diversifying is key. Byt not «diworsification», like Peter Lynch would say. Therefore, I intend to stick to 15 dividend stocks (maybe 16-17 but no more than 20 for sure). Otherwise you lose the important leverage. And I want to have the time to follow all of them closely. I do not have the power of ubiquity! Thanks for stopping by Bert. PS I like your Portfolio too. How about some JNJ when the stocks comes down about 10%? Take care.


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