01-03-2021, 08:23 PM
I don't do resolutions as they are too hard to evaluate. But I do an annual goals list every year since I was in high school. I have 66 goals for 2021 (two pages of college ruled paper). The goals cover everything from personal, business, and financial goals. Some of the personal goals are to read 12 novels, visit a new stadium, and go to Cancun. Some of the business goals are to have a certain amount of collections and to prepare a certain number of tax returns. My top 3 financial goals this year are the following:
1) Have $12,300 in dividend income for 2021.
2) Fully fund my 2021 ROTH IRA.
3) Fully fund my wife's 2021 ROTH IRA.
I know that I have a lot of goals every year, and I don't expect to accomplish every one of them. As long as I make progress on all of them, I am happy. With the 12 novels, if I don't read 12, but read 10, that is good. That is better than not reading any. And with the dividend income goal, I won't chase income at the end of the year if I am going to be short. Missed my goal for 2020 because of dividend cuts, and I was OK with it as I didn't chase to accomplish a goal. All of our financial goals are tied to our long term goal of retiring to Maine for part of the year and Mexico for the rest of the year. So I won't do something stupid to accomplish a yearly goal if it hurts us for our long term goal.
1) Have $12,300 in dividend income for 2021.
2) Fully fund my 2021 ROTH IRA.
3) Fully fund my wife's 2021 ROTH IRA.
I know that I have a lot of goals every year, and I don't expect to accomplish every one of them. As long as I make progress on all of them, I am happy. With the 12 novels, if I don't read 12, but read 10, that is good. That is better than not reading any. And with the dividend income goal, I won't chase income at the end of the year if I am going to be short. Missed my goal for 2020 because of dividend cuts, and I was OK with it as I didn't chase to accomplish a goal. All of our financial goals are tied to our long term goal of retiring to Maine for part of the year and Mexico for the rest of the year. So I won't do something stupid to accomplish a yearly goal if it hurts us for our long term goal.