This post is LONG overdue, but better to post it now than never.
On my 9/8/2015 post, I had written that the point I can retire is when my passive income I receive exceeds my expenses. And that amount is $3,000 per month in passive income. Therefore, my goal at that time of the post was to receive $36,000 in dividends by 2041. I had also posted a breakdown of target dividend income goals for each year from 2015 to 2041, which can be found here.
Now that 2016 has passed, it's time to reflect on how I did. My 2016 dividend goal was $4,600 as of 1/15/2016. The actual amount of dividends I received was $5,141.35. I surpassed this goal by $541.35, or 11.77%! This is 14.28% of $36,000, which means I've already attained 14.28% of the total dividends I need to retire. And this is in addition to paying off the mortgage on my primary residence! I would say that 2016 was a great year - paying off my home and exceeding my dividend goals.
Since the amount of dividends I actually received exceeds the projected 2018 dividends, I'll need to revise my projected dividend amounts. You can find these revised projected dividend goals for each year here. For 2017, my goal is to receive $6,000 in dividend income. If I can hit that goal, I would be 16.67% closer to retirement. This dividend goal of $6,000 for 2017 is a 16.70% increase from the $5,141.35 dividends I received in 2016. I'm counting on dividend growth, dividend reinvestments, and new capital to achieve this goal. With no mortgage going into 2017, hopefully I can achieve or even exceed this goal.
What do you think of my dividend goal for 2017? Do you have any goals or financial new year's resolutions for 2017?