Wednesday, May 3, 2017

2016 Goals Progress

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?

6 comments:

  1. You can get that for sure. You are well on your way to reaching that goal. Good work

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    1. Hi Buy, Hold Long,

      I hope I can hit my target goal. I'm hoping I can retire by 2041 or even earlier if possible.

      Thanks for stopping by and commenting.

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  2. Great goal Christian. I'm sure you'll crush it! I'm not sure so sure I will with my goal. :)

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    1. Hi Passive Income Dude,

      Thanks. I think it's always good to aim high with our goals; as they say, "Shoot for the moon. Even if you fail, you'll land among the stars."

      Thanks for stopping by and commenting.

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  3. It is nice that you were able to exceed your set dividend goals for the year. But I am of the opinion that investing in growth stock may yield higher returns. However, it comes with higher risks too.

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    1. Hi Myfinancekits,

      Investing in growth stock may yield higher returns on paper, but it's also subject to more risk in my opinion. Unless you sell the stocks, everything is unrealized gain. With dividend stocks, they will pay you hard cash, which is tangible and adds to the unrealized gains. I also like the fact that I can easily track my passive income with dividend stocks. For example, I can calculate how much of my dividend income covers my expenses. With growth stocks, you are just hoping that the stock price keeps appreciating in value so that you can eventually sell when you need the money. And hopefully those growth stocks will never crash.

      Thanks for stopping by and commenting.

      Delete