Mid-Year Goals

For the first time, I am setting mid-year financial goals. Back in December 2017, I set financial goals that were supposed to be for a full year. However, I underestimated just how big the snowball could growth in a short amount of time and I ended up accomplishing my goals just five months into the year. And with that I decided to set new goals for the last six months of the year. I had originally intended my yearly goals to run from the start of January 2018 to the end of January 2019. This way I would get the chance to utilize all four quarters worth of dividend income.  I still intend to follow a similar pattern, but these new goals will run from the start of June 2018 (now) to the end of December 2018.

Last time I set dividend goals, I set a strict number to surpass. I decided to do something different this time when setting dividend goals. I decided to set several tiers with the top bar will be the highest prize. This seems a lot more interesting and provide some fun motivation to trying and claim the top prize. I decided to use bronze, silver, and gold trophies to represent each goal achieved. Each trophy is an achievement based on breaking a set forward dividend mark. Bronze is the lowest level while Gold is the highest level. Here they are:

Bronze Cup: Reach and/or surpass a forward annual dividend income of $9100!

Silver Cup: Reach and/or surpass a forward annual dividend income of $9250!

Gold Cup:  Reach and/or surpass a forward annual dividend income of $9400!

I have always found it a bit difficult to set goals. Not simply financial goals, but personal goals as well. For those familiar with my story, prior to the second half of 2017, the past several years of my life were very turbulent and unstable. Life seemed to have a habit of dismantling any long-term goals I had set or planned to set. I still can’t fully shake the the feeling that life will somehow find a way to throw a wrench in anything I plan. But maybe that is just bad memories. One thing I noticed is that since my life has become more stabilized since this time last year, I am becoming more confident in setting these goals for the future.

This is also a learning process as well. I will see how this new goal system works out and when a set full 12-month goals system next year I might elaborate on this model. This is all very exciting! Right now, my portfolio stands to generate $8,806 in forward dividend income over the next 12 months. There is the starting point! So, what do you think of my mid-year goals? How are doing with your own goals? Let me know in the comments below.