2017 was a great year for me and I am sure for most of you as well. The stock market increased over 20% so that helped all of our net worth increase across the board. With this post, I will to now cover my 2018 financial goals.
Financial Goals for 2018
- Increase forward dividend income to $6,000
- Have a net worth of $400k or higher by year-end
- Increase my online/side income.
To accomplish the first goal I would have to invest a total of $46,433 by year-end with an average dividend yield of 3%. I really think this is very doable. Having a forward dividend yield of $6k would be great because that means I will average $500 in dividend a month. It will also mean that I am half way to that magic number of $1k a month.
My second goal should not have any problem with being crossed as completed at year-end. I started the new year with a net worth of $322,728. I would now need to grow it by $77,272 to reach my goal. Seeing how I made $14,401 in passive income last year, I see no issues with growing my net worth by $77k barring any unforeseen circumstances like job loss or tenant leaving.
This is the goal that I really want to get going. I made some good online/side income last year, but I really want to get this going faster. This is why I created a youtube channel, and I will continue to use social media to grow my following.
What are some of your goals for 2018?
Thanks for reading, and don’t forget to follow me for great investment ideas.
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