Tuesday, November 24, 2015

My 2015 Financial Goals : where it's at

In 2015, I have set myself some more precise goals.

With roughly one month to go before the end of the year, I thought I would check upon my goals for 2015. Here's a rundown of how I'm doing so far.

  • To respect, 75 % of the time, a monthly budget of less than 5 000 $. Last year we aimed for 4 500$ but failed badly. (partly because we hiked our spending towards investing, so not that bad). Let's try 5 000$ and hope for the best. 
FAIL. Well, this one is pretty rough. It's not that we are doing very badly. Our budget for a month is roughly 5K$, that includes money we spend investing. But we pretty much bust this mark every month, although by small margins. We succeeded twice to live under the 5 K$ rule. But I won't lose sleep over it. 
  • To max out my TSFA and hit the 42 48 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 (+ 5000 K$ as announced in the last Federal Budget). 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$ 48 K$. Yes I can! 

FAIL. Before sailing off, the Conservative Government hiked the limit per year we could contribute to our TFSA. It's now 10 000$ But the new Liberal Government wants to cut it back to 5K$. We will see about that. For my U$ friends : a TFSA is a Tax Free Saving Account. It allows you to hold pretty much all kinds of investing products in it : from bonds to stocks, to ETF's. The nice thing about it : it's all tax free. A great tool. But my investments in it haven't been as productive as one might have expected. I invested the maximum so far (41K$) and my TFSA is barely above the 44K$ mark. There a numerous reasons for that. The main reason is called : Barrick Gold (ABX). I once held more than 300 shares of that disgraced stock. It's down to 200. I lost a hefty sum with ABX. Live and learn, right? I still hold some pretty good dividend stock growers in it and I'm confident I will make up for it in the near future.

  • 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 !
SUCCEED. My Net Worth is currently over 200 K$. You can check it out here. Paying off your mortgage is annoying. But it's a simple and safe way to grow your Net Worth. This cool mark is reached, now let's aim for another one next year!

  • 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. 

SUCCEED. My Portfolio is currently over 160K$. You can check it out here. I"m happy but to tell you the truth this goal was pretty conservative. I should have more by now with the amount of money I have deployed recently. Oh well. Maybe I'm hard on myself...

  • 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%. 

FAIL. This is a goal that was very bold. I knew it. But I wanted to challenge myself a little bit. Even though I didn't reach it, I still managed to hike my Dividend Income by more than 28%. It's now approaching 4 200$... So it's a loss that feels like a victory.

  • 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. 

FAIL.We have currently 3K$ on the margin. But it doesn't bother me. I should be able to pay it by the end of the year. So this goal should be attained.

  • To find another form of investment. A land, a cottage, a new condo, a house, a wood forrest. Anything that diversify our assets. 
FAIL. Didn't make anything to that regard. But I will!

What do you think of where I am right now regarding my 2015 goals? What about you? Will you reach yours?


  1. Looks like you did ok there, MD. Dont beat yourself on it too much. The first one isnt bad at all - since that includes the funds that go into investing over the year.

    I dont max my TFSA although this year was much better than previous years...hoping to up my savings rate a bit next year. Lets see...

    The high targets just means you are aiming high. Keep at it and congrats on the goals you achieved this year.

    Best wishes

  2. Thanks R2R... It's too bad I had a loss with one of my TFSA stock. I can't deduct it since it's in my TFSA. Oh well... I should be able to make up for it on the long run. ;-) thanks again for your comment.

  3. Goals are something we aim for, if you had reached every goal it would have meant you made them too easy. Re-group and keep aiming for those goals!

  4. Chimp, you are one hell of a primate! You are 100% right. Why settle for the average chick. Aim for the bellissima! Thanks for coming down. Take care bipede fellow.

  5. Nice job MD. It's nice that you log your progress and keep track. All good if you missed some of the goal but there is always next time / next year.
    Keep up the focus and hustle it up. Thanks for sharing and we're all happy for your progress and your accomplishment. Cheers my friend.

  6. Hey ! Thanks DH! Very nice words man. Yeah, I will mot definitely keep hustling up. One day I should be where you are at! ;-)

  7. Maybe you didn't reach all your goals yet, but you DID something towards them, which in the end is what counts.



  8. absolutely right Mike. At least I'm trying. Well see where that takes me a couple of years from now... ;-) Maybe I will be able to leave whit my family on a big trip like you!

    1. Haha! If it's what you want, why not? ;-) I surely take some risks myself doing so, but I think it's worth it.

  9. Monsieur Dividende

    It's looks like you did pretty well this year. looking forward to your 2016 goals.

    Sharon - Divorcedff

  10. Thanks Sharon. Much appreciated. I did all right, all do better next year. ;-)

  11. What I can not understand that your limit of $5K a months including investments. Where would the rest of the money go? I can see why people try to limit they expenses to save more for the investments...

    As far as the rest it is pretty much normal - meet some goals and miss the others. That is why we do set them every year: -)

  12. Hey FI. Thanks for your comment. Not sure If I understand the first part. We spend roughly 5K$ (party of two) each month, that includes money invested in each other's Index funds. Although we invest more but this money isn't included in the budget. Much of it goes out in food (restaurants and groceries), cable, cellular, etc. We try to limit our expenses as much as we can, but we also have to find a balance between having fun while saving. For instance, I would do without the cable -- but I do it my girlfriend would probably bid be goodbye... ;-)


Thanks a lot for your comment.