Now that 2015 is over and the goals are analysed, it is time to think about 2016. Next to pure financial goals, I also will put in some personal development goals.
Financial goals to support the journey
These goals should enable me to reach financial independence sooner than later.
1- Live below our means
The goal is to have an overall in savings rate of 55 pct and a core savings rate of 30 pct. The first one includes the mortgage and some other savings, while the latter one is the core savings rate: the money we actually put aside in our asset allocation.
2- Net worth
Reach an overall amber index of 27,6pct.
The first years of investing, my focus is on building wealth. I can decide later on to keep it as is in index funds, or transfer it to dividend stocks, annuities or a rental unit,…
3- Need for Speed income
As I plan to balance my patience and core stargegy with adrenaline and the feeling of speed that comes with trading, I will add a goal on this one.
Generate 1000 EUR of income out of my play money via dividends and option premiums. That is approx 85 EUR per month. It is lear that the vast majority needs to come from premium.
This will be a real challenge to reach this goals. It means I need to trade actively options, every month. I look forward to this.
At the time writing, the Belgium government has put in place a speculation tax. I need to see what/how I will deal with this.
Personal goals to evolve as a person
1- Run twice a week and try to run a race
In order to stay in good shape, I want to run on a very regular basis. I have found out it relaxes me and makes me feel good. I want to continue doing this.
I also aim to run a race to make sure I have a real goal to work to.
2- Read 3 personal development books
The goal is to read 3 personal development books this year. I exclude books on financial topics, as that would be too easy to do so.
What are your 2016 goals? Any feedback for me?