GOALS

I set new goals at the beginning of each year and update them whenever these goals are achieved.

2011 Goals:

  1. Create Dividend DRIP Account with a starting amount of just $50, yes, that’s right, you read it right!! $50!!!, start must I.   Achieved
  2. Invest a total of $1500 in Roth IRA Accounts. Achieved.
  3. Earn a total Dividend Income of $1000 in IRA Account. Achieved.

Note: I do not count #3 income towards my FI journey, however, I mention it here in order to have a big picture view of all passive incomes.

2012 Goals:

  1. Earn Dividend Income of $100 in DRIP Account. Failed
  2. Get $250 of Passive Online Income.  Failed
  3. Invest a total of $2000 in Roth IRA Accounts. Achieved
  4. Earn a total of $1500 in Dividend Income in IRA Account. Achieved
  5. Create High Dividend Portfolios: HID1 and HID2. Achieved

2013 Goals:

  1. Earn Dividend Income of $500 in DRIP, HID1 and HID2 Investment Accounts. Failed
  2. Get $500 of Passive Online Income. Achieved
  3. Invest a total of $3000 in Roth IRA AccountsAchieved
  4. Earn a total of $2000 in Dividend Income in IRA AccountAchieved
  5. Contribute $10,000 towards 401K Account. Achieved
  6. Exercise 3 times per week @ 20 minutes. Failed

Note: I contribute towards 401K account mostly to defer the taxes and once becomes financially independent (FI), no longer have to. Also, my company matches 50% of 8% contribution.

2014 Goals:

  1. Earn Dividend Income of $1500 (revised from $1000 in May) in DRIP, HID1 and HID2 Investment AccountsAchieved
  2. Get $1000 of Passive Online Income. Achieved
  3. Invest a total of $4000 in Roth IRA AccountsAchieved
  4. Earn a total of $2500 in Dividend Income in IRA Accounts. Achieved
  5. Challenge to myself for maximizing 401K contribution. Let’s see the result of it! Keep tuned!! It will be interesting to know 🙂  Failed (due to change in goals midway)
  6. Exercise 3 times per week @ 20 minutes. Failed

2015 Goals: 

  1. Receive Dividend Income of $3500 in DRIP, HID, and Roth Investment Accounts. This is an ambitious and challenging target for me in 2015. Achieved
  2. Earn $1500 of Passive Online Income. Failed
  3. Receive a total of $3000 in Dividend Income in IRA Accounts.  Failed
  4. Invest a total of $5000 in Roth IRA Accounts. Achieved
  5. Contribute $15,000 towards 401K Account. Achieved

2016 Goals: 

  1. Receive Dividend Income of $7500 in DRIP, HID, and Roth Investment Accounts. Another ambitious target. Achieved
  2. Earn $1000 of Passive Online Income. Failed
  3. Receive a total of $3000 in Dividend Income in IRA Accounts. Failed
  4. Invest a total of $5000 in Roth IRA Accounts. Achieved
  5. Contribute $15,000 towards 401K Account. Achieved
  6. Take a personal family vacation. Achieved

2017 Goals:

  1. Receive Dividend Income of $12000 in DRIP, DIP, and Roth Accounts. Another ambitious target.
  2. Earn $500 of Passive Online Income.
  3. Receive a total of $2500 in Dividend Income in IRA Accounts.
  4. Invest a total of $6000 in Roth IRA Accounts.
  5. Contribute $15,000 towards 401K Account.
  6. Take one (two preferred 🙂 ) personal family vacation.

9 thoughts on “GOALS

  1. PIM,

    Thanks for sharing your goals and good luck in achieving them. Do you mind sharing how you are reaching the passive online income goals?

    Thanks,
    DD

    1. Hi DearDiv,

      I would love to share: currently, I receive online income mostly from various writing assignments, adverts on this blog & other online side gigs. My online income is very modest and fluctuates, so, I’m no where close to rely on it as a major source of income to live on. However, I’m exploring other sources of passive income like virtual/tele work that can provide me flexibility to work anywhere. Hope it helps.

      Best of luck for your passive income. I’m sure you will achieve it brick by brick.

      Thanks for stopping by!

  2. Hi, PIM.
    I have a 401K, but I’ve chosen to only contribute enough to get the company match. I’d rather direct the excess funds into maximizing my Roth IRA and then into a taxable account because then I’m able to purchase individual securities. My stance on this might change over the years, but that’s my two cents. Nice job with the goals thus far. Take care.

    Goosemann Jones
    Flight to Dividends Blog

    1. Hi FTD,

      This is the first year when I decided to maximize 401K, that was my original goal, however, midway, I changed to contributing more to taxable account, as you can see from my monthly portfolio increases in taxable account.

      I set the goals at the beginning of a year and so, the goal is still mentioned here, however, I deviated a bit. I’d be perfectly fine with your approach which depends on a personal situation.

      The reason I wanted to contribute to 401K was to reduce taxes, otherwise, I would not have set this goal. However, I would always prefer to have the convenience of accessibility of money in taxable account v/s 401K.

      Thanks for stopping by!

      Best wishes.

    1. Hi DD,

      Appreciate liking my goals. I setup quite challenging goal of $3500 in passive dividend income for 2015, and frankly it looks like shooting moon, right now 🙂 I can only be happy if I hit this goal, missing it would be some disappointment, however, it is better to have challenging goals to try. We will see how the year go. Keep tuned!

      Thanks for stopping by!

    1. Hi LeDividende,

      I’m close to hitting $4K this year and setting an aggressive target for next year and still deciding a final number that I would like to achieve.

      Thanks for stopping by!

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