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$. Yes we can.
To grow my net worth to 200 K$ (and more). I expect more revenue this year. Right now, I have a Net Worth of roughly 188 K$. With a yield of 4-5 %, that should take me to close to 195 K$ 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 160 K $ mark in my portfolio. Right now I have around 145 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$ (2 982$). You can check it out here. I want to increase that number to 4 800$, 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 ?