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?
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.