Setting New Goals for 2021

The year 2020 is finally coming to a close and I am now officially setting new goals for 2021! It was this time last year I posted my goals for 2020 (results I will post next month). Honesty, to me it feels like an eternity ago I set those goals. It is just the way the year turned out. I am going to follow the same system of goals setting that I used last year. 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.

So, let us begin. For 2021 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 forward dividend mark. Bronze is the lowest-level goal while Gold is the highest-level goal. Here they are:

• Bronze Cup: Reach and/or surpass a forward annual dividend income of $11,500!
• Silver Cup: Reach and/or surpass a forward annual dividend income of $11,750!
• Gold Cup: Reach and/or surpass a forward annual dividend income of $12,000!

I will begin with these dividend goals starting in January 2021. As of this post, my portfolio is set to generate $10,864 in dividend income over the next 12 months. I am imagining I will cross the $11K threshold sometime in the first quarter of 2021. While $11K is awesome, I set the highest gold cup at $12K since that really the ultimate milestone for me to pass. That would equate to $1,000 in dividend income per month. That is the mark I am aiming for!

Next up, is setting goals for stock purchases. When I started My Dividend Dynasty back in July 2017, my portfolio had just 12 stocks in it. As of this post, my portfolio has 42 stocks across many different sectors and industries. I will use bronze, silver, and gold medals to represent each goal achieved. Each medal is an achievement based on breaking 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 4 new stocks to my portfolio!
• Silver Medal: Add 6 new stocks to my portfolio!
• Gold Medal: Add 8 new stocks to my portfolio!

I plan on continuing to build up my portfolio.  Depending on how the year turns out, I may look towards building up more of my current positions compared to the buying frenzy that I accomplished this year when prices were depressed. But, of course, we will see how things unfold. Ultimately, the number I have in mind is eventually owning 60 stocks at minimum in my portfolio. After that, more revenue will be geared towards building up positions then adding on.

In setting new goals for 2021, I cannot predict what will happen. One year ago, I never would have predicted how 2020 would turn out. But I am going to remain optimistic. I will continue to build my dividend dynasty! So, what do you think of my goals for 2021? Do you plan on setting any goals? Are you glad this year is almost over? Let me know in the comments below!

Have a Merry Christmas and Happy New Year! 😀