My 2016 goals

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?

 

 

 

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18 thoughts on “My 2016 goals

  1. Solid list of goals, we wish you well in 2016!

    I (Mr. CF) should actually join in on the running twice a week. Since Miss CF came into our lives the workout regime has fallen apart quite badly. It does make you feel better. Fancy a challange for 2016?

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  2. Nice goals, AT. Although I’d have to say that be mindful of the speed income – so that in order to reach a stretch goal, you dont end up risking things too much.

    Best wishes

    R2R

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  3. I like how you’re goals involve personal development. I think self growth is an important step to wealth!

    Mathematically, index funds is the most profitable way to grow your portfolio, unfortunately you don’t learn anything about stocks through that method. That’s why I opted to invest in stocks instead.

    Anyhow, good luck on your 2016 goals! I will check back in the future : )

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    1. In depth Knowledge on stocks is a goal for later on. It will be needed when in switch from index to dividend portfolio so I can live from it. For now, it is not a priority, there are other things I find more important.

      At

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  4. Great list of goals! They all seem very achievable this year — good luck! It seems that you actually enjoy tracking stocks and funds and making active trades, so I like that you build that into your plan. We do NOT like active trading, and so have a strategy of index fund investing that matches our personalities and preferences. But that’s why it’s called *personal* finance! 🙂

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  5. I have a similar goal for running – to complete a half marathon. I find the app MapMyRun motivating, and you can set up your own challenges (or join others eg I am doing the 1000km in one year challenge). I find the only time to go is first thing in the morning before the rest of the house wakes up. Someone told me that it is best to replace the last hour of the day (when to be honest most of us are watching TV or reading too much stuff online, perhaps with a coffee or beer or chocolate) with the first hour in the day when we are more likely to be more productive or physical and eat healthier. Seems like commonsense to me.
    Good luck!

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