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In my earlier years, I never believed in using the beginning of the year to set goals. I preferred to take things as they come. Since taking an interest in personal finance, however, I’ve learned to appreciate setting milestones. You can’t hit the target if you don’t have one to aim at.

Before we begin, feel free to take a look at the year that was in 2016.

Normally I would take a full assessment of what I had planned to achieve in 2016 and measure whether those goals were achieved. As I have covered previously, though, last year’s plans took a few sidewinders as the year developed. For instance, instead of developing my acumen with the piano, I took up the guitar and can now play plenty of songs that I love. Likewise, instead of focusing on personal finance freelance writing, I spend more effort devoted to my day job and built my earnings out that way. Suffice it to say that my priorities shifted through the year.

With that said, let us look to 2017 and set four targets.

Goals:

  1. Financial: My Five Year Plan which I penned in mid-2015 states that through 2017 I should earn $3,100 in passive income. I had a strong year in 2016 and feel that I should be able to stay on track and exceed this measure. I am hoping to see my passive income hit the $3,300 range and believe this is achievable through organic dividend growth and by committing fresh capital to high quality companies. Accordingly, my goal is to make a minimum of six stock purchases through the year for no less than a combined total of $10,000 invested.
  2. Diversify: As with my goals for last year, I would again like to broaden my stock holdings. I have been looking at Chartwell Retirement Residences (CSH.UN) which is a trust company involves in owning, managing, and operating senior’s housing and retirement residences. They are involved also in Long-Term Care facilities. I see this as being a huge growth area as the demographic trends see the aging population continuing to expand. Their distribution history shows a questionable track record, but I am willing to make a wager on this company and the overall industry being able to fuel future increases. The dividend yield is currently just under 4%.
  3. Fitness: I only ran a single Half-Marathon last year which is my lowest output since 2013. I would like to run a Full Marathon this year again to get back in the swing of things.
  4. I’ve been enjoying the guitar and would simply like to continue enjoying and building on what I’ve already learned.

Last year I failed to keep pace with writing articles. Through 2017 I would again like to recommit to sharing my dividend growth journey with readers. It keeps me motivated to hear the feedback of readers.

Thank you again for reading from this site and I hope all the best for you in the year to come.

Ryan

What are your goals for 2017?

Full Disclosure: No position in CSH.UN but I would like to initiate one in the near future.

Pictures courtesy of pixabay.com

3 thoughts on “2017 Goals

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  2. Andrew says:

    Getting back into the swing of things is hard. It’s a big reason why I take smaller vacations. I’m looking forward to more articles.

    1. Hi Andrew,

      Smaller vacations are certainly one strategy to lower costs. In my experience, two of the main considerations are to make sure a person is content at home as well as in their employment. Once those two conditions are met, big fancy vacations become less of a necessity – or not one at all.

      Thank you for continuing to read and follow the GRB journey.

      Take care!
      – Ryan

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