Happy New Year everyone. It’s resolution time for most but goal setting time for me. I don’t believe in resolutions because they are really just statements or wishes. Resolution – I want to get in shape. This is a blanket statement with no actionable steps to reach success. This is why I believe my goals should be set with manageable plans for success. I bit off more than I could chew; my goals in 2015 totaled 11 goals. I created success plans for some of my goals and others ended up being more like resolutions. Here’s and example of two 2015 goals, one I succeeded at and the other I failed to complete. Goal One – Bench press 200 pounds. For this goal, I created a step-by-step, 2 day a week chest workout that all but guaranteed success. Goal Two – Lose weight by dropping from 217 pounds to 200 pounds. I had no diet plan. I just stated what I wanted without taking action.
Can you guess which 2015 goals I failed at? I succeeded at every goal that had actionable and manageable steps. I failed at every goal that did not have a plan. For 2016, I plan on reaching a higher goal success rate than I saw in 2015. I will do this by creating a plan for success for each goal. Action plans won’t guarantee success but they should help me gauge progress and adjust as needed.
2016 – My Goals
My Goals – One
Invest $50,000 dollars of new capital into my Investment Hunting Portfolio.
- $11,000 invested into two Roth IRAs
- $18,000 invested into my 401k
- $21,000 invested into brokerage accounts
My Goals – One Plan
I know I will be successful investing the maximum into my 401k because I have it set on autopilot. My employer takes a certain percentage of my paycheck every two weeks that adds up to $18,000 by the end of a calendar year. I also know I will be successful at funding $11,000 into my Roth IRAs. I know this because I already funded them earlier this week. Where I failed last year on this very same goal was investing $21,000 into my brokerage accounts. This year, I am going to add money to this account monthly at a set rate. I will invest $1,750 on the last day of each month, totaling $21,000 for the year.
My Goals – Two
Find 250 new blogs of interest and make at least two meaningful comments on each blog.
My Goals – Two Plan
Breaking this down to weeks, I need to find 5 new blogs each week. I will find 5 new blogs every weekend. I will monitor my progress monthly and adjust accordingly. This goal serves two purposes for me: 1 – I am truly interested in finding more blogs to learn from. 2 – Visiting and commenting on blogs is a great way to drive additional traffic back to my site and gain new followers. This is a win-win goal.
My Goals – Three
Take my wife on two trips.
My Goals – Three Plan
I plan on having my wife join me on two business trips this year. My job requires me to travel often. In a typical month, I spend at least 7 days traveling. This year I am taking my wife to New York City in March (already booked) and either Burbank or Las Vegas. I will book the second trip by the end of Q2 to ensure I succeed at this goal.
The best part about work trips is that my airfare, hotel, and incidentals are all paid by my employer. I only need to buy airfare for my wife and pay for her meals and entertainment. Usually, I book her ticket with flight miles so my out-of-pocket expenses for the entire trip are very low. This type of trip saves us $1,000s of dollars. These trips are also perfect for my wife, she gets to spend alone time away from our kids and me (I’m working during the day). She has all day to rest, shop, or do whatever she wants to do. Then at night, the two of us explore the city, have a nice dinner or catch a show.
My Goals – Four
Collect $7,500 in dividends.
My Goals – Four Plan
I finished up 2015 with estimated forward annual dividends of $6,700. This leaves an extra $800 in new dividends I need to collect to reach my goal of $7,500 in dividends collected. It may seem like I am sandbagging this goal, but hear me out. 2016 could be a rough year for the stock market. If oil doesn’t recover and international markets decline I expect dividend cuts. My portfolio has a lot of energy stocks. If dividend cuts happen, they for sure will be in the energy sector. If cuts happen my forward dividends of $6,700 will drop. Don’t think it can happen? I lost hundreds of future dividend dollars in December when KMI slashed its dividend by 75%.
My plan is to make a few large stock purchases early in the year so I can collect at least 3 dividend payouts from each new stock. This along with my increased dividends due to DRIP Investing should get me to $800 in new dividends.
My Goals – Goal Five
Spend one day a month hanging out with my son.
My Goals – Five Plan
If you think this is an easy goal, get back to me when you have teenagers. About six months ago I became un-cool. Shocking I know! Me un-cool, how did this happen? I am the last person my 14-year-old high school freshman son wants to send time with. My plan is to not give him a choice. I will force my son to spend time with me; my house is no longer under democratic rule. I will plan and schedule one day a month with my son. We both enjoy fishing and crabbing, and hiking, and exploring the coastline. Activities like these are abundant in the SF Bay Area, so finding something to do won’t be a problem.
My Goals – Six
Lose 26 pounds.
My Goals – Six Plan
I will drop my weight from 226 pounds to 200 pounds. I will accomplish this goal by closely monitoring my daily caloric intake. I will cut my intake by 500 calories per day. I will review my progress and adjust my caloric intake monthly as needed. I will also continue my 5-day a week workout regime. Breaking this goal down to weeks, I need to lose 1/2 pound a week. This is a really manageable goal if I stay consistent.
My Goals – Goal Seven
Reduce my Alexa rank.
- Global rank reduction from 3,049,900 to less than 1,000,000
- United States rank reduction from 621,857 to less than 300,000
My Goals – Seven Plan
Reducing rank seems like the wrong way to be heading. But for Alexa the lower your rank the more traffic your site receives. My plan is to consistently write new content (2-times a week) at a minimum. I also plan to comment on high traffic sites and build more back links to my site. These two steps should help my rank reduce. I’ll revisit this monthly and adjust my steps as needed. If I am consistent with these two steps I believe my rank will reduce quickly.
My two takeaways from 2015 were that I set too many goals and I didn’t create plans for all of my goals. This year I have addressed both takeaways. I am hopeful that I will achieve a higher ratio of goals this year. There you have it. My seven 2016 personal and financial goals have been declared. I need to go now and get started as the clock is ticking. 🙂
Did you declare your 2016 goals? What do you think of my goals? How did you do with your 2015 goals? Join the conversation.