Happy New Year!
I had five short term financial goals at the beginning of 2015. Lets go over each of of them and see how I did.
Goal 1: Increase total passive income to at least $300 average per month or $3,600 per year (Include dividends, interests, and rental property)
I gave myself an A+ on this goal. I increased my average passive monthly income from $100 to $300. If not counting my real estate rental losses, I averaged about $500+ per month.
Goal 2: Max out 401k and ESPP
I gave myself an A-. For half a month in October I decreased my ESPP investment because my company stock dropped 25% from it’s high. I got a little nervous and decreased my investment by 2%. When the stock bounced back a little, I increased it back to it’s max.
Goal 3: Invest at least 24K new money in taxable accounts (Stocks and bonds)
I gave myself an A since I invested more than 24K new money in stocks and bonds.
Goal 4: Pay down mortgage principal by at least 10K
I decreased my mortgage principal by more than 10K this year so I gave myself an A+. I think I should remove this goal for next year because it is getting easier as the principal is increasing and the interest is decreasing in my monthly mortgage payment.
Goal 5: Limit monthly spending within [Monthly income(earn + passive) – 2K investments in taxable accounts]
I gave myself an A because I was able to save more than 24K last year with earn and passive income.
Besides financial goals, I also have three personal goals in 2015.
Goal 1: Volunteer once a month
On average I volunteered about once a month but I gave myself a B because I did not volunteer with more than one organization. I am a regular volunteer at LFNC, so it was not much of an effort to volunteer once a month.
Goal 2: Run a race every quarter and exercise twice a week
I gave myself a D on this goal. Not only did I not enter four races last year, but I did not exercise twice a week for most of the year. I created this goal with my partner and it was a bad idea. I think I will be more disciplined if it was my own goal.
Goal 3: Read a non-fiction book every other month (a book every month)
I gave myself a B on this goal. I read six non-fiction books last year but I only read one fiction book last year. For some reason I didn’t have much interest in reading fiction books unless it was highly recommended from someone I know.