Tuesday, July 1, 2014

2014 Goals: Mid-Year Review & Progress

My goals for 2014 were pretty aggressive. I tried to challenge myself. Without lofty goals and dreams, what's the point? As a results-driven person, I've got to have a destination in mind to succeed. My goals are clear for this year (and the next few years) - to retire early by building up passive income. So how have I done so far this year on meeting my goals? See below:

1) Finish the house renovation: Progress has been very solid here. We're painting the trim in the majority of our first level, which is essentially the last step before decorating. We'll move on to finishing up the remainder of the first level in the coming weeks and attacking the basement alongside that. This might drag into early next year, but the end is in sight!

2) Bench 275 pounds and work out more regularly: My wife and I have been lifting 2-3 times per week for the last 8-10 weeks. I can definitely see the results of this consistency.

3) Figure out what to do in early retirement: Still pondering...there are endless possibilities at this point, and it's fun to entertain each of them for a while.

4) Earn $10,000 of dividends in 2014: I've earned $4,243 in dividend income so far this year. With recent purchases, I think I'll squeak by the $10,000 mark for the full year.

5) Have my portfolio primed to earn $12,000 of forward dividends by year-end 2014: With my portfolio currently at $11,067 for the next 12 months and six more months of purchases ahead, I should exceed this goal. Adding another $1,000 of dividends at an average yield of 4% means putting an additional $25,000 to work throughout the remainder of the year. I've got enough cash in my account to meet this goal, but am being patient about valuations. A market pull-back or correction would be a great opportunity that I'm ready to take advantage of.

4 comments:

  1. BGH,

    I like the aggressiveness of your dividend goals. Good luck on hitting 12k forward dividends.

    MDP

    ReplyDelete
    Replies
    1. My Dividend Pipeline,

      Thanks for stopping by. Yes, I've really tried to get more aggressive this year. Looks like you're just as comitted to maximizing your passive income as well. Keep it up!

      Delete
  2. I just spent the last hour reading though your blog for the MMM forum blog roll and are so glad I did! I am seriously impressed with what you did and wish I could transport you to my house to help me, lol. Would you mind me including you in my blog roll as well?

    ReplyDelete
    Replies
    1. Thanks for the kind words, Frugal Student. I want to add more content here, but can't seem to find the time. For now, I'm trying to capture the "big stuff" as best I can.

      I'll take a closer look at your blog and consider adding you to my blogroll in the next few days. I like the lofty goal of reaching $1 million! Best of luck.

      Delete