Hey guys, 2016 is almost over (actually there is only one more day to go :)). Honestly I can not really believe that it is already over, I guess the older you get the faster the years are passing by (by the way just another reason to enjoy every single minute in your life).
2016 was probably one of the most intensive years for me so far exciting things like new job, new city and sad things happened, where I found out that no matter how bad things are you still have to make the best out of it, there is always a way out of a misery and in the end it just makes you stronger. Considering the financial markets 2016 was a real roller coaster big losses in January, Brexit and new all time highs in the end of the year.
Nevertheless the 2016 review will come later, let’s have a look at my goals for 2017.
- Dividend Income: Currently my full year forward income is at 1 033 EUR, my goal for 2017 is to at least double my 2016 income of 706.26 EUR that means I want to reach the 1 400 EUR in dividend income and 1 700 EUR in forward full year income until the end of 2017.
- Investment: This year I have invested 16 938.42 EUR in new stocks, to reach my dividend income goal I have to invest at least 19 500 EUR (considering a yield of 3.5% after tax). Going to be tough but there is a good possibility to reach that goal.
- Cash: I want to increase my cash rate to at 20 000 EUR currently it is at 13 400 EUR. For me it is always important to have enough cash on side especially as long as my passive income stream is not so high.
- Expenses: My goal is to have total expenses of 14 400 EUR, that means on average 1 200 EUR per month. This absolutely doable from my point of view (no worries renting is a little cheaper in Austria compared to the US :)).
- Total Income: From the goals above you can see that I need at least 26 100 EUR in fresh capital for investing and my saving account, combined with expenses I need a total income of 40 500 EUR. So that is now the most challenging part, with my salary and dividend income I will reach 36 000 EUR in net income. That does mean I have to close a gap of 4 500 EUR. I am sure there is good chance to close that gap by selling old stuff and do a lot of side hustling. But yeah you are right this will be challenging :).
- Net Worth: My Net worth by the end of 2016 will be around 53 000 EUR for 2017 I am aiming to reach the 80 000 EUR. This includes of course a positive performance of my portfolio for 2017 as well.
Non financial Goals
- Sports: I want to work out at least 3 times a week, believe me guys sports helps a lot to be and to keep mentally and physically in shape. Since I am finally going to the gym on a regular basis I feel much better. Also I want to continue playing Basketball (my favorite sport btw.)
- Job: Being satisfied with the job I have where I am able to develop my skills as a Financial Analyst further.
- Travel: Traveling to 2 European countries I haven’t been so far I do especially have Scandinavia in my mind.
- Reading: Oh yes I have to read more Books next year I want to read at least 8 new books. Currently I am reading The Snowball and yeah I like every single page so far.
- Blog: This Blog is still in the starting phase and it averages about 2 100 visitors per month. In 2017 I want to have at least 8 000 visitors per month. Therefore I need to make more posts, my goal is to have at least 2 posts per week
Before I forget my most important goal is of course to stay healthy and to enjoy my life together with my girlfriend. Because no matter what will happen if I reach the goals or not in the end the year passes by anyway and it is important that you have done the best out of it.
Life is too short to be sad :)!!
What are your goals for 2017 ? Are you actually setting any specific goals?