Happy New Year!! Wow, what a year 2017 was. I had an amazing year with my girlfriend. We went to four different countries. Frist, we had an amazing Europe trip in which we went to three different countries. We first went to Berlin, Germany, a few cities in Poland, and finally Prague, Czechia.
The fourth country was a four-day weekend gateway to San Juan, Puerto Rico in August. We were lucky enough to see this beautiful island before Hurricane Maria hit it. When the Hurricane finally left Puerto Rico, We started to see videos and pictures of the destruction that was left by Hurricane Maria. My girlfriend and I were and still are heartbroken by what we saw. We really loved the island and to see it destroyed was very sad to us.
But the people in the island are making progress and are in the rebuilding process.
Financial review of 2017
Now, let’s talk about my Financial review year of 2017.
My biggest financial accomplishment for the year was securing a tenant for the extra room and bathroom I have in my condo. The rental income has been my biggest source of passive income. Here is the total of 2017 passive income.
Rental Income: $8,300.00
Taxable Dividend Income: $3,766.98
Retirement Account Income: $2,334.16
Total Passive Income: $14,401.12
HOLY COW!! $14,400 in passive income!! I am extremely happy and fortunate to be able to say that. I have come a long way since 2013 when I only had $220.43 of passive income for the year.
I have been using Personal Capital to track my net worth as well as my income and expenses for four years now. I highly recommend that you sign up and use Personal Capital as this is far superior to other similar services. You can sign up using this link: Personal Capital Sign up
Below are some great charts and tools that Personal Capital provides.
As you can see, my net worth has had a tremendous year. This growth has mostly to do with how much my condo is currently valued. I really did well with the condo purchase in Mid 2016. I got it for $86k and now it is worth $170k.
My cash flow for the year was great, but I feel I could have done better. I am going to try for $50k in positive cash flow for this year.
I am loving how this is looking. My portfolio value grew a whopping $71k. I am very excited about how that has grown the past year.
My portfolio had a 25.75% change for all of last year. Let’s try to match or beat that this year. Wish me luck!!
There you have it. My 2017 was an amazing year and I thank God for giving me this amazing opportunity.
I expect 2018 is going to be another amazing year. I have few more trips planned this year. A few weekend gateway as well. I actually have a weekend gateway in a few weeks for my girlfriend Masters Program graduation in Orlando, FL.
I see 2018 to be a high saving and investment year for me. I will be putting a lot of capital to work. I do not have any big expenses like I had the past two years. In 2016, I bought my condo. In 2017, in the first half of the year, I was paying off my renovation cost of $30k.
So I will be hitting 2018 running!!
I hope you had a great 2017 both financially, mentally, and spiritually. Best of luck to you and your family in 2018!!
Please let me know how was your 2017. What are you goals for 2018? I would love to hear from you.
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