A Path to Forever Financial Freedom
2016 Review & 2017 New Year Resolution
This week is reflection period as we clocked down 2016 to the last day of the year.
Personal Objective is always something personal which I look back from time to time to see where the indication of the goal is. They are not exhaustive by any measure but they give a direction to where I wanted to focus during the year.
I tried to do this at least once every 6 months to see where the progress is. The last review was during the mid year sometime in Jun (Link Here).
2016 Review
1.) Individual Performance vs Market Benchmark
I understand there's a couple of people who kindly commented on the process in my previous post on the XIRR return.
They are very good feedback which I will take into consideration and revise the process moving forward.
Notwithstanding that into consideration, I think I did pretty reasonably well for this year on this one.
Verdict: Pass
2.) Dividend Income of $24,000
This was a rather stretch goal to begin with as I did not keep much of the passive strategy as much as I would have liked. I also bought and sold companies during the year instead of buying and keeping them.
I didn't do well on this one as the amount of dividend income fell short in 2016.
Nevertheless, I'll try again for this in 2017 and hoping to achieve on the same this time round.
Verdict: Fail
3.) Attend at least 3 AGMs
I completed this in the first half of the year and completed 5 AGMs.
It has been a true pleasure to attend the meeting and get to know more insight talking to the management and knowing the company's prospect.
I would do the same again in 2017 as much as time permits.
Verdict: Pass
4.) Better Health and Fitness
With kid(s) around, everyday is tough and tiring with so much activities to fit into a regular day.
However, health has visibly improved as I began to construct my sleeping pattern more regularly (no more midnight football) and eat healthier food.
I also exercised more regularly by swimming at least once every weekend.
Verdict: Pass
5.) Increase spending on intangible relationship and learning
There's a lot more meet-up this year as compared to the last.
 |
| One of our 2016 Meet Up |
More relationship building, more long lasting friendship and more networking, all for the good cause of helping one another become a better person.
Verdict: Pass
2017 Goals
1.) Portfolio Networth of $600k
I'm going to give myself quite a big stretch target here so I have put $600k as a goal by the end of next year.
I am expecting a capital injection in the range of $40k next year, so the rest would have to come from either dividend or capital gain.
Let's try to see if this is achievable.
2.) Dividend Income of $24,000
I'm going to redo this goal because it is one of the only one which I failed to reach in 2016.
This would equate to a $2k/month dividend income so that'll be a rough ball-figure park for me to note.
3.) Build up on the Child's Portfolio
I'll have two kids by the time 2017 hits so I'll need to work around and think of building this up in tandem with my own portfolio.
The goal is to buy companies that have decent growth and roe over time since this will compound for many more years to come. In the local market, I'd be taking a close look on banks to do that.
4.) Project Miles
I am on the personal project of chalking up miles so that I will be able to redeem them for my traveling hobby.
Currently, I am using the Citi Premier Miles as well as the Amex Krisflyer and the points have been chalking up nicely. To date, I have about 60,000 miles notwithstanding the bonus miles received.
I'm unlikely to travel in 2017 due to the newborn situation so I'm keeping this for 2018 and beyond.
5.) Influencing Personal Finance and Investing Interests Amongst Close Friends
I've received a couple of requests, both online and offline about asking me to help them to start engine their financial journey.
I think this is just about getting them interested in personal finance and some of the basic finance 101 stuff which allows them to get going for the much longer run. Once they are well equipped with the handling of money, then the harder part would be onto the how to grow the money, which is essentially what I am doing at the moment.
It's nice to be able to just extend my assistance in any way they need.
Summary
So 5 goals there for 2017 to aim for.
I hit 4 out of the 5 goals in 2016 and I am looking forward to hitting all bulls eye on 2017 target.
Happy new year everyone and have a blast year ahead in 2017.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
