At the beginning of the year I laid forth my goals for 2013. I wanted to put a list of goals together that would be challenging, actionable and measurable. I believe that to various degrees all four goals meet this criteria.
With half of 2013 now behind us I thought now would be a good time to review these goals and see if I'm on track to exceed them. So far, I'm doing pretty good! Let's review below:
Goal #1 - To receive $3,500 in dividends during the year of 2013
During the first six months of the year I have received $1,723.40 in dividends. Wonderful! That is averaging a little over $287 per month. I'll gladly take it. Extrapolating that out over 12 months means I'll end up with approximately $3,446 in dividends for 2013. Although it looks like I might just miss my goal, I actually think I'll exceed this goal as I've purchased shares in high quality businesses over the first six months of the year, and those purchases should generate additional dividend payments over the latter half of the year. I believe I'm currently on pace to exceed this goal!
Goal #2 - To save 60% of my net income earned in 2013, averaged monthly
I'm doing great here. This is the goal I'm most proud of. It's incredibly difficult to maintain a high savings rate month after month, and yet I consistently keep my eye on the prize: financial independence and early retirement. I've been saving over half my net income for the past three years and it's been a wonderful learning experience in what I'm truly capable of achieving. With six months down I'm currently averaging a monthly savings rate of 63.5%! Woo hoo! I think there is an excellent chance I'm going to exceed this goal as well.
Goal #3 - To weigh 185 pounds or less by the end of 2013
What I thought would be my most difficult goal has actually turned out to be quite attainable. I weighed myself just this past weekend (on the same scale I've used for the past few years) and came in at 184 lbs. Nice! I've been concentrating less on heavy, compound exercises and instead have been increasing my attention on cardiovascular exercises and lighter weight. This has allowed a more streamlined me to emerge and I quite like it. I've also been eating a tad bit healthier. I was a competitive bodybuilder in my younger days and I'm still trying to shed that internal image of myself. If I can maintain my current weight I'll exceed this goal by a small margin.
Goal #4 - To diversify my wealth
This goal was probably a little less measurable than it should have been, but in all truth I wanted to put something down on paper to motivate me to get some exposure to either real estate or fixed income. I consider bonds right now as a horrible investment, so I'm still staying away. However, just over the last couple months REITs have taken quite a hit and allowed me to expand my holdings into real estate. I have recently purchased ownership stakes in Realty Income Corp. (O) andDigital Realty Trust, Inc. (DLR). Even if I don't diversify my wealth into any other asset classes for the rest of the year I'll consider this goal met.
I'm doing great so far! I had a rough year for goals in 2012, only meeting 50% of them. But 2013 looks to be a great improvement. I'm hoping to be able to continue on the progress I've built up over the first half of the year as we continue to wind down the months. I thank all of you readers as you continue to support Dividend Mantra!
How are you doing with your goals? Meeting them? Exceeding them?
Full Disclosure: Long O, DLR
Thanks for reading.
This article was written by Dividend Mantra. If you enjoyed this article, please subscribe to my feed [RSS]
6 hours ago
