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What are my Dividend Goals?

[Updated: Dec 30th 2017]

As in anything else, I think it is primordial to have clear goals and objectives.

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For now, let’s say this is a transitional part in my life. Particularly, 2017:

  • Wedding.
  • New lot. (And eventually house)

2018 will also be jam-packed with new and exciting (and expensive) things!

  • New House
  • Moving to another province
  • (Maybe a kid?)

As such, my goals for the next 12-24 months will be somewhat broad, such as desperately trying maximize my RRSP and TFSA. In itself, this will be a hard feat. All the while, I will attempt to minimize (or at least not increase) my overall amount of debt.

More specifically, in terms of DRIP/Compounding, I did setup specific goals. With the end of the year just behind us, I can finally update this list.

  • YEAR: $GOAL (equals $/Hr)(Actual amount reached)
  • 2017: $8,000 ($0,91/Hr)  (Total: $7,779.16 or $0.89/Hr)
  • 2018: $10,000 ($1,14/Hr) – (See latest Monthly DRIP Update)
  • 2019: $14,000 ($1,60/Hr)
  • 2020: $19,000 ($2.17/Hr)
  • 2021: $25,000 ($2.85/Hr)

Ambitious? Yes. Possible? Absolutely! 2018 will need to see a stable contribution from my end. I’m thinking roughly $15k could be enough to make the dividend goal a reality for 2018. After that, 2019 should see a dramatic increase in contributions so for now, the goal for 2019+ remain the same.

These goals will be revisited and edited once every end of year, taking into account the contributions I’ve made in said year.

Note that I like to indicate how much ($/hr) I earn passively, it’s just something I use to motivate myself from time to time 🙂

Wishing everyone a great 2018!!

Cheers!

-DI

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Money Lover, Dividend Growth Investor, Youtuber, and Blogger!

12 thoughts on “What are my Dividend Goals? Leave a comment

  1. Great goals. Ambitious is the way to go. If you only set easy goals it would make you take your foot off the gas when you accomplish them. Difficult goals also feel better when accomplished.

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    • Yeah, If I didn’t have massive plans to contribute significantly in the upcoming years I wouldn’t have made such a bold goal. The plan is to max out my RRSP and TFSA every year until then. As well as make significant contributions to my non-registered account, particularly in the 2020+ area. I’m talking easily doubling my current portfolio value (around 90K) and having the compounding take effect even more! 🙂

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  2. Awesome goals! It’s nice to see you stretching yourself and reaching for the moon! I’m setting a massive account growth goal for myself and I’m feeling confident that I’m going to be able to break it! I’m talking a growth of $45k in a single year! Yikes…. Keep it up and I love seeing goal articles as It really motivates me!

    Liked by 1 person

  3. Awesome goals! It’s nice to see you stretching yourself and reaching for the moon! I’m setting a massive account growth goal for myself and I’m feeling confident that I’m going to be able to break it! I’m talking a growth of $45k in a single year! Yikes…. Keep it up and I love seeing goal articles as It really motivates me!

    Like

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