Happy New Year and Summary of 2014 Goals

01 Jan 2015 14:00

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Happy New Year to everyone and I wish you the best for 2015.

So 2014 has finally ended and it has been an interesting year filled with ups an downs in the markets and even a surprise with the collapse of oil prices.

Throughout the year I have improved on my DGI skills but more importantly I did hit a point of significant personal satisfaction. Some DG investors believe life begins when they can solely live off their passive income. But what I discovered is you can start enjoying your life before that happens.

In early 2014 I set up a detailed plan of long term goals with targets set for every year up to those goals, as well as immediate year goals, and a set of strategies to achieve those goals over the next 30 years. I spent the first half of 2014 re-aligning my finances, personal life and work schedule to the new strategies (DGI being one) and spent the second half of 2014 executing the strategies.

By early November I realized everything was executing to plan and I no longer had to micro-manage but instead sustain. Sustaining a plan is a lot easier than formulating and putting into play. It was as if a huge burden was lifted and I suddenly find myself with a lot more personal time to enjoy.

Now I cannot wait for 2015 as I plan to go after things I love to do; time with the family, swimming, fishing, hiking, revisiting an old hobby, and even working on my house. These are the type of activities I believed I would have living off of a passive income during retirement but looks like I get to enjoy them much earlier.

While I'm still required to keep a full-time job, it seems much of the anxiety over what tomorrow will bring is not as much of a concern. My best guess is because I now have a way out of the rat race and I can actually see the strategy working, it's removing risk from my life and hence removing stress. Wow! What a feeling, I should have done this years ago.

Well enough waxing poetic, so here is a summary of how I did on my 2014 goals!

1. Contribute $6,000 to new DGI purchases ACHIEVED!
This is not usually a goal but I knew 2014 would be my last year adding significant cash as my children will be starting college soon and extra cash over the next 10 years will be a luxury. This goal was more to make me stretch to find extra savings through better money management & budgeting. I actually beat this and found an additional $700!

2. Re-invest $2,000 into DGI purchases ACHIEVED!
This came down to the wire but I finally completed re-investing with my last purchase of Qualcomm (QCOM) in December.

3. Increase forward DGI yield by 20% ACHIEVED!
I actually beat this by 5% points so I felt really good on this front.

4. Increase 401K balance by a minimum 10% ACHIEVED!
Not tied in with DGI goals but is part of my long term goal (I have specific price targets set that the 401K must meet every year). I actually beat this by 5%

5. Increase IRA balance by 5% ACHIEVED!
Not tied in with DGI goals but is part of my long term goal (I have specific price targets set that the IRA must meet every year). I actually beat this goal by 7%

6. Have 10% cash reserves in IRA/401K ACHIEVED!
This takes a load off my shoulders from a risk perspective.

Well that was 2014 in a nutshell for me and I'll follow-up this post with my 2015 goals.

Happy New Year!

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