Today is the perfect day to start setting your goals. Last year I encouraged you to set your financial goals. It is good and healthy progress, and I personally enjoy having a visualization of my targets. Shall we do them together?
I want to have another approach this year. Last year I had a goal set for each category, and they were pretty specific: a total profit or a total investment. What I saw is that we kind to defer from these goals and rethink our strategy. So instead of being specific, I will try something else.
We are currently at 10600USD invested, so I would definitely want to have another 3000USD invested, bringing the portfolio to 13600USD. Let’s take this amount as a goal, and the bonus goal will be to reach a 15000USD portfolio by the end of the year.
Last year’s growth was 49%. I will settle for this year with a 30% growth in portfolio and a 10% return on investments. I am not worried about the growth, but more about the return, as the last year was just 5%. To pull this off, we will need to stock on some investments that are more stable and limit the loss of FOREX.
A specific goal will be to increase the investment in the metals category, to reach the target we set for our allocation. This goal can be tracked via the Portfolio Update from each quarter, as we will manage to check our distribution then. For sure, in the first month of the year, I will invest in a GOLD ETF, and log the investment in metals.
Currently, we have two big credits, the mortgage credit and a personal credit we took at the end of the last year, and …. a different type of credit, without any type of interest, but with a deadline (the 18th birthday of our daughter). I am not sure how much we will be able to contribute to the mortgage with the rising taxes and prices due to inflation, but I am almost sure we will try to cover half of the personal credit (the credit is 10K USD so that is 5K to raise and deposit).
Considering the other goal, like last year I would like to contribute with 2000USD in it. Now, if we add the credit and this contribution and the investments, we will need around 10K USD to match the goals.
This year is the year of the blog. Last year I was more focused on learning and building FOREX robots, and now that I have one (that hopefully works) I want to pick up on the blog part. I have to fix some backbones that I don’t like, to reorganize some articles, but I think the most important target will be to reach 100 new subscribers. I won’t lie, that until now I had troubles sharing the blog, but I want to change this.
Also at the end of the last year, I started a new page of financial terminology and I want to expand into another type of articles as well. I think a nice goal will be to have 30 articles published in 2022.
What I would love, is that if my blog will determine at least two more persons from my circle to start investing.
This year, I definitely want to get into better shape. Last year was a roller-coaster of starting doing sport and quitting for different reasons (time, sickness, laziness, pandemics, and so on). But this year, I want to be different. I want to participate in at least 3 10Kms races and 1 half marathon. I also want to shave off the extra pounds I gained. And I want to cut the sugar cravings (wish me luck – as some of you saw me after days without sugar…)
Last year we had only two holidays, mostly due to job changes and no free days, so this year we plan to get at least 3 getaways in Romania and one abroad (fingers crossed). We already have some of them planned :D.
Shopping list of the year
For this year, we already have planned two spendings. Buying a new car, as our old one is going on 17 years and it became more expensive to maintain it that its own value. Not to mention that is not safety-relevant anymore considering the standards in the auto domain.
The other thing on our shopping list is a hand vacuum cleaner, something like a Dyson, to facilitate the cleaning inside the house. We have one good vacuum cleaner, but it is very hard to always take it out and do what is supposed to do. So we need something hand-carried and easier to handle.
Will we reach our goals?
There are a lot of expenses and the list and we will defiantly not reach our goals with our current expenses. The first thing will be to redo our budget, identify the not-needed expenses, cut them off. The second step will be to work on our income. So the goal for my wife is to increase her salary one more this year, and hopefully, I will too. I do consider some freelance work, but not sure if I will have the time. My main bet is on FOREX to be honest, as I hope the robot will start to produce enough per month to grow and account and to permit me to withdraw some each month to compensate in the other investments.
I am sure that during the year there will be other goals that will be a higher priority, but I would try to check as much as I can from this list.
Happy new year guys, welcome to a new year, hope this one will be even better than the last one!
Disclaimer: I am not a financial consultant! All the information you find here are my decision, I have taken at that moment, on my own analysis. I am open to any type of discussion about money. If you want to replicate my portfolio take into consideration that it is your money and you can have losses.