With New Year’s Day approaching, I am now officially setting my new goals for 2023!
It was around this time last year I posted my goals for 2022 (results I will post next month).
I am going to follow the same system of goals setting that I used the past few years.
It is a system with multiple tiers with the highest bar being the top prize.
This I have done for both dividend income and stock purchases using bronze, silver, and gold trophies and medals to represent different tiers.
I found this to be fun, exciting, interesting, and motivating.
Projected Annual Dividend Goals for 2023
Before we begin, as of this post, my portfolio is set to generate $13,558 in dividend income over the next 12 months.
So, that is the starting point from which I was launch my 2023 financial goals.
The time clock for these goals will begin January 1, 2023 and end on December 31, 2023.
So, now let us begin.
For 2023 forward dividend income, I will use bronze, silver, and gold trophies to represent each goal achieved. Each trophy is an achievement based on breaking a set projected dividend mark.
Bronze is the lowest-level goal while Gold is the highest-level goal. Here they are:
Bronze Cup: Projected annual dividend income of $14,250
Silver Cup: Projected annual dividend income of $14,750
Gold Cup: Projected annual dividend income of $15,250
New Stock Purchase Goals for 2023
As of this post, my portfolio is comprised of 52 stocks.
How many new stocks do I hope to purchase this new year?
I am leaning towards fewer purchases of new stocks and more towards building upon the companies I already own. Therefore, only buying new stocks as opportunities arise.
But we will see how the year turns out.
I will use bronze, silver, and gold medals to represent each goal achieved.
Each medal is an achievement based on adding a number of new stocks added to my portfolio.
Bronze is the lowest-level goal while Gold is the highest-level goal. Here they are:
Bronze Medal: Add 3 new stocks to my portfolio!
Silver Medal: Add 4 new stocks to my portfolio!
Gold Medal: Add 5 new stocks to my portfolio!
Silver Bullion Goal for 2023
I have been building up my position in silver over the years and currently have 45 ounces of silver.
I consider this less of an investment and more of insurance against economic catastrophe.
It is good to diversify across a little bit of everything, precious metals included. With that, here is my goal:
Silver Bullion Goal: Buy an additional 20 ounces of silver!
Conclusion
In setting my new goals for 2023, I cannot predict what will happen with any certainty.
There is talk of recession, war, and Armageddon. But that kind of talk happens every year.
Nevertheless, I am optimistic and will aim for the gold and beyond.
My really strong desire is to break $15K in projected annual dividend income! That would be my crowning achievement for the year.
At $15,000 in dividends per year ($1,250 per month), practically all my monthly expenses will be covered (assuming all things remain constant).
That is turning the corner to something big as I continue to build my dividend dynasty!
So, what about the rest of you? What do you think of my goals for 2023? Also, do you plan on setting any goals?
Let me know in the comments below!
Also, don’t forget to Subscribe for more updates on my financial journey!
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