Let’s Make Some Goals for 2017

Projected Dividend Goal for 2017
Projected Dividend Goal for 2017

Last year, we achieve some of our 2016 goals and fell short on a couple.  But by having goals, I achieved much more than I otherwise would have.  With our 1st year done with our passive income pursuit and making this website, we are excited to do even better this year.  Below are my goals for 2017.

1. Projected Future Dividend Income

Increase projected future dividends payments from $870 to $1,760 per year.  I project $1,760 is the amount I need to achieve by the end of 2017 to be on track to be financially free within 15 years.  I want to achieve financial independence quicker than 15 years, but my cash will be divided between investing and paying down debt.  Luckily there is no credit card debt.  My stretch goal would be to increase it to $2,624 to be financially independent within 10 years.

2. Increase the Number of Dividend Payments

Increase the number of dividend payments from 88 per year to 122.  This will give me a dividend payment every 3 days on average, including holidays and weekends.  With most stocks paying 4 dividends per year, I will need to invest in 9 new dividend paying stocks.  We like seeing frequent dividend payments in this account to get lots of positive feedback.  Then our account will always be showing us how good we are doing.

3. Write 52 Articles

I want to write at least another 52 articles for this website.  I paid for the hosting fees to keep the site running for another year, I might as well write more articles.  Plus, I like writing and getting all of your wonderful feedback, both the positive and negative.  Luckily, it has been mostly positive.


4. Break Even on DividendMonkey

We want this website to breakeven.  Right now, it cost money to run this website.  However, we would like for this site to pay for itself.  That way, I have a little bit more money to invest into my passive income. I believe I have a good balance of ads on this website.  Do you think I have too many or too few ads?

5. Debts

The 1st part of this goal is no new debts.  One great way of getting out of debt is not going into more debt.  Then, just by naturally making the normal payments, my debt levels will go down.  Luckily, none of them are credit cards.  The 2nd part of this goal is to pay off one of my debts.  The most likely one would be a car loan.  Paying off a loan may reduce my chances of getting to $1,760 in future passive income by year end.  Therefore, this will depend on the market.   If I can find lots of good stocks to buy, I will do that.  If I do not find enough good dividend stocks to buy, I will pay down debt.  Maybe I can do both.  We will see.

Review of Goals for 2017

I believe these are the goals I need to achieve in 2017 to reach my final goal of financial independence and to help make this blog a success.  I am well on my way and thank you to all of my readers for following.

What do you think of the goals for 2017?  Am I being aggressive enough? Please feel free to share your thoughts or goals in the comment section below.

You can our read more about our Goal History for DividendMonkey.

 

 

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10 thoughts on “Let’s Make Some Goals for 2017

  1. I like your blog/website, it’s has a clean look and is well organized. No, I don’t think you have too many ads. The ads that annoy me the most are the animated ones or even worse the ones that pop-up on your face or start playing video/audio as soon as you load the page.

    Nice goals and aspirations. Paying off debt in parallel to investing is a very good idea as it will lower your monthly expenses and get you even closer to becoming financially independent. Best of luck to you.

    1. Thank you for your kind words. I agree, the animated ads can be very annoying. I believe I need to reduce debt and invest at the same time, especially since they both off different advantages.
      Thank you.

    1. Thank you. I believe doubling my dividends from stocks is possible. Especially with all the practice I got last year investing in dividend stocks. And if I can achieve that level in 1 year, I should be able to double it by investing at least the same amount this year. Thank you.

  2. Hi dividendmonkey,

    Congrats on making your goals – they look like a good balance between investing and saving / paying down debt.

    For goal #2, another way of writing it is in terms of ‘owning 33 diversified companies’. If you just focus on the number of payments, you might end up buying 9 companies that don’t add much diversification. But it’d certainly be nice to have 122 payments regardless!

    Best wishes,
    -DL

    1. DL,
      For goal 2, I agree that buying another stock just to reach this goal would be silly. I like being diversified. Luckily, I do own several dividend stocks that pay dividends monthly, or make 12 payments per year, such as Realty Income (O). So the number of stocks I need will be less. I do agree that I need to make smart investments.
      Thank you for sharing,
      DM
      Disclosure: Long O

  3. I think those are reasonable goals, especially the dividend goal. Breaking even on the site has been tough for me, but I do it because I like it. I wish you luck on achieving the 2017 targets.
    -Brian

    1. P&P,
      Thank you. Even if I do not break even on this website, I am very happy to continue writing. I enjoy being here, and it helps me become a better investor, which is more important. I also enjoy visiting all of your blogs and reading more. I have learned a lot.
      Thank you,
      DM

  4. Sorry hit reply to early. I like your number four goal. I haven’t done a lot of trying to monetize my website. I only got 1 ad so far from google sense. It took me awhile to figure out how to add that “Ad” from google adsense lol. I want to at least break even or turn a small profit, but seem like I’m far away from it. Since I work more than full time it’s hard to take the time to learn. Good luck on your goals, looking forward to see what you accomplish at the end of the year.

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