2015 Annual Goals

17 Jan 2015 12:43

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Physically writing (or typing) out my goals has been extremely successful. I do not know if this works for everyone but it does work for me. That said it is time again to set my annual goals for 2015:

Grow dividend income by 15% - This will be extremely difficult. My oldest child starts college in 2016 and I plan on stashing most of my extra cash for this expense so there will be little to invest with. I will need to constantly keep myself in check to make sure I’m not chasing yield instead of growth.

Reinvest 100% of Dividends – I realize carrying over some dividends is a nice buffer in case the market crashes early in a year but my analysis evolves around individual companies and not markets. I make no claim to understanding markets so this is more of a goal to avoid market timing temptations.

Read 3 Books on Investing - It never hurts to read and expand your knowledge or learn of different perspectives. When you feel smarter than your peers is when you are most likely to fail! Be humble, continue to learn and challenge preconceived notions.

Recognize or admit when I am speculating - This has been an investing weakness of mine during my DGI career. While not technically measurable it is something I need to strive for.

Increase my 401K balance by 10% - This is part of my long term plan. I have laid out exactly what my balance needs to be every year to meet my long term goal. If the market sours or trades sideways it just means I have to invest more to stay on track.

Increase my IRA balance by 5% - Similar to the 401K goal this is part of my long term plan. I no longer contribute to the IRA but if it doesn’t meet the 5% goal I may find myself contributing.

Increase my blog posts to 36 - I realize few (if any) actually visit the site to read my posts. Some of that is the platform I work on is not popular among financial bloggers and some is due the fact I do not advertise that it exists. So why bother? For me it is like an investing diary. It helps me keep track of what I have learned, mistakes I made and at times express my views or opinions.

Take my Son fishing at least 6 times - 2014 taught me one important lesson, when you are executing your goals the stress in your life starts to diminish giving you more free time. I plan to capture that free time by connecting with my family.

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