Wednesday, December 30, 2015

My 2016 Financial Goals

In 2016, I have set myself new Financial Goals:

To respect a monthly budget of less than 4 750$. (Money Invested regularly excluded).

To max out my TSFA and hit the 52 K$ mark. Right now, I have 43 243$ in it. I have room for 5500$ this year (thanks to the Liberals!). Let’s assume a yield of around 5-6 % in addition to 1 300$ in dividends. Some of my stocks are doing poorly (ABX, POT, etc.) Hopefully, my other stocks will compensate and pull my portfolio upwards. It should get me to 52 K$ by the end of the year.

To grow my net worth to 233 K$. I expect a more constant revenue this year. Right now, I have a Net Worth of 205K$ With a yield of 5-6%, that should take me to 217 K$ solely on compounding. With my dividends of about 4K$ and the few new capital money I should add to the mix I expect to close out the year with 233 K$.

To hit the 188 K $ mark in my portfolio. Right now I have roughly 162 K$ (you can check it out here). I still have some cash flow to invest. But I wish to invest only in quality stocks I already own (or new ETF’s). I don’t want to add more stocks to my portfolio. I feel I already have enough with 22... The yield of my portfolio will come from compounding (5-6%). I will also keep investing on a bi-monthly basis in a US Index Fund. I will sell some of this fund throughout the year to deploy the money directly in stocks. Money coming from dividends will contribute to grow my portfolio as I both expect raises and buying more dividend growing shares of companies I own. I should be able to end 2016 with (or close to) 188 K$.

To hike my Dividend income to 5 400$ a year. Right now, I have roughly 4 300$. I want to increase that number to 5 400$, which will represent 450$ per month, an increase of more than 20%. 

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

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 ?
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6 comments:

  1. Nice goals, MD. Those are some attainable goals but if you think you are able to meet them in a few months, I'd say go ahead and up those goals.
    Looking forward to see what you pick as an alternative investment. Are you looking for real estate only or any other form other than stocks and bonds are ok?

    Best wishes
    R2R

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    1. My goals are conservative because I never know how much money I will be making and put aside. If I earn more I will change them mid-course.

      Yeah, I'm looking at an other for of investment. Mot likely a house or another condo. Thanks for the comment R2R! ;-) Best wishes too!

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  2. J'aime beaucoup tes buts pour 2016. Je trouve le dernier, de trouver une autre type d'investissement particulairement interessant. Un petit conseil - mon chalet est peut-etre la pire investissement que j'ai jamais fait.

    Bonne chance avec toute tes buts pour 2016! Bonne annee mon ami!

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  3. Merci DIH. Oui, on m'a dit que l'achat d'un chalet représentant surtout une dépense... As-tu toujours le tien? Bonne année 2016 mon ami! ;-)

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  4. Monsieur Dividende

    I hope 2016 will be a better year for you, Hope that you will get all the goals that you set to yourself.

    Happy New Year

    Sharon - Divorcedff

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  5. Hwy Sharon! Yeah, if the coming year is always better than the pervious one it means I'm getting richer! Good luck to you and have a great year!

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Thanks a lot for your comment.