Happy New Year!
I had four short term financial goals at the beginning of 2016. Lets go over each one of them and see how I did.
Goal 1: Increase total passive income to at least $450 average per month or $5,400 per year (Include dividends, interests, and rental property)
I gave myself a B on this goal. I increased my average passive monthly income from $300 to $385. If not counting my real estate rental losses, I averaged about $650+ per month.
Goal 2: Max out 401k and ESPP
I gave myself an A-. For part of the year I decreased my ESPP investment because my company stock dropped after their 4th quarterly earnings. I got a little nervous and decreased my investment by 4%. 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 a B+ since I invested only 20K new money in stocks and bonds (not counting dividend reinvestments). I was a little nervous of investing new money after the election.
Goal 4: 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 25K last year with earn and passive income.
Besides financial goals, I also have three personal goals in 2016.
Goal 1: Turn electronics off by 12:30am (1 cheat night per week)
I gave myself a D on this goal. I followed for about a month and then I gave up on this goal pretty early in the year.
Goal 2: Walk 10K steps 3x a week or gym for 30 mins a week
I gave myself an A- on this goal. I was participating in the running 365 miles per year for the first half of the year. Due to health changes, I changed this goal to walking 10K steps a day, and I was doing a pretty good job until December. Due to the rainy season, I was kept inside for more days than I would like, and prevented me from going for my walks.
Goal 3: Read a non-fiction book every other month
I gave myself an A on this goal. I read six non-fiction books in the first quarter of last year. I didn’t get into reading fictions books at all.