The Year’s End and Nearing the $11K Mark

So, we are one month away from the year’s end and I am nearing the $11K mark! What can I say about the year 2020? Well, I think for many of us we are just happy it is gone. The year can be summed up in three words: plague, violence, disorder. Never would have imagined that this time last year. The market itself plunged at the beginning of the year but has since made a strong comeback. Many of us took advantage of the downturn and loaded up on great companies and dividend aristocrats. Most of us also felt the sting of numerous dividend cuts. The recent market jump was on the happy results of a COVID-19 vaccine, which I hope becomes a reality very soon.

Still it is kind of hard to believe the year is actually ending and we are all moving on. That there is a light at the end of the tunnel. Next month I will be posting my new goals for the year 2021. In terms of this year’s goals I am actually in good shape. I started the year with a forward dividend income of $9,764. As of this post, my portfolio is set to generate $10,840 in dividend income over the next 12 months. That is 11% growth in dividend income so far. I probably won’t be making any new stock purchases this year. Nevertheless, I am still expecting to see a few more dividend increases before the year ends. I am in the homestretch of crossing the $11K mark in dividend income.

If this was a normal year, I would have been over the $11K mark by now. Crossing the $11K milestone should happen in the first quarter of next year. Overall, I consider this a more minor milestone compared to the major $12K one which I believe I can achieve next year. That is a huge milestone since it means I will gain $1,000 per month in dividend income. That is nearly enough to cover all of my expenses each month too. I would literally have over 90% of my expenses covered each month. The sweet taste of financial independence and freedom!

So, are you excited about the dawn of a new year? Are you making these last months count? Also, how are you doing with your goals for the year? Let me know in the comments below!