Goals for 2015

After a very productive year in 2014, where I was able to meet and surpass most of my goals, its time for me to set my goals for 2015. Here are the main financial goals for me:

Goals for 2015

  • Total Passive Income of $5,500 – While our portfolio and other sources of passive income generated close to $5000 in passive income in 2014, we aren’t setting our sights sky high in 2015 as we want to focus a bit more on debt repayment in 2015 (more on this below). For a breakdown, I want to achieve $3000 in dividend income and $2500 in “other” passive income.
  • Focus on reducing debt (mortgage) – As new home owners, our focus will be to paying down more than the minimum mortgage amount.
  • Maintain a 3-5% cash position in my portfolio – Over the course of last couple of months, I have been caught with great investing opportunities, but very little in cash of my portfolio as I have been fully or near-fully invested. I would want to avoid this in the future, by maintaining a 3-5% cash allocation in my portfolio.
  • Re-balance portfolio with my wife’s portfolio integrated – This is a leftover item from 2014. We did not complete the integration in moving from mutual funds to ETFs. We are hoping to complete this early in 2015.
  • Take atleast one finance related e-course – I took an accounting e-course on Coursera in 2013 and really enjoyed it (and learned a lot). I want to further my education and take atleast one finance related e-course in 2015.
  • Write an e-book – This has been one of my long term goals, and I think I want to take a first crack at it in 2015. I look forward to learning and exploring and all the experience that comes with launching an e-book.

 Have you set your goals for 2015 yet? What are your thoughts on my goals here. Leave a comment below – as I appreciate your feedback.

38 thoughts on “Goals for 2015

  1. These are excellent goals. Focus on reducing mortgage debt is always a good idea. We haven’t maintained a lot of cash in our portfolio either and maybe it would be a good idea to do that moving forward.

    Merry Christmas and Happy New Year!

    • Tawcan,
      Yes, we want to focus a bit more on mortgage in the new year…the mortgage amount seems humongous, so, hopefully we will make a bit of a dent in it. Keeping some cash in the portfolio should provide us with investing opportunities.


  2. R2R,


    Great list of goals for 2015. Your third goal the one dealing with maintaining a cash position of 3%-5% is something I am thinking about as well after being stuck on the sidelines with little cash to invest during the pullbacks of November, and December. Looking forward to following your progress throughout 2015.

    Happy Holidays,

    Happy Holidays,

    • Captain Cash,
      I think its important to maintain some amount of cash position in case theres an overreaction in the market. Like you, I was stuck without any cash when there were overreactions in the market.

      Thanks for stopping by. Happy holidays!

  3. Hi R2R

    Those are great goals — best of luck achieving all of them!

    We’re new home owners, too, and the loan is very large (housing in the Bay Area is expensive!). Paying off a little more than minimum each month cuts down your total payment by enormous amounts.

    On the other hand, if you’re mortgage interest rate is around 4% fixed and you could earn, say 8% relatively risk free, is it still a clear cut case that paying off the mortgage is best?

    Of course, if you just plainly dislike debt and want to get rid of it, that’s another matter.

    The other thing I’ve always wondered about (without doing calculations as to how much it really matters) is the impact of inflation. Specifically, the $100 I pay on a 30-year mortgage in year 1 is worth much more than the $100 I pay of in year 30.

    Take care and good luck!

    • FerdiS,
      I can imagine the mortgages in the Bay Area. Paying down a little extra sounds good to me.

      Mortgages work a bit different here in Canada. We dont get a set rate for 30 years, nor is the mortgage amount a tax credit. So, paying down a bit more than minimum makes more sense here in Canada, I suppose.

      Thanks for stopping by. Happy Holidays

  4. RM2R,

    Loving the goals and I am sure you will far exceed them. I believe if you almost hit $5K in passive income for 2014, that 2015 won’t take too much of a stretch to get to $5.5K – aka you will do it! I am also doing more of debt repayment this year as well, allocating $500 more towards the mortgage every quarter or $2K for the year, as the impact of this in the long run is phenomenal.

    Nice work and keep us updated!


    • Thanks for the words of encouragement, Lanny. We havent figured out on the exact amount of extra payments we want make…my wife and I will be figuring that out in the coming days.

      Best wishes with your own goals!

  5. R2R,

    Very nice listing of goals. I especially like how your cash reserve goal. You learned from the fact you weren’t able to unload capital in the market when an opportunity arose, so you adjusting your situation to prevent the scenario in the future.

    Even though you are paying down your debt, my gut tells me that you will easily increase your passive income by $500. It always seems like you have to climb a mountain, but in reality you just have to run up a bunny slope. You’ll be staring $6,000 down before you know it.

    I am excited to read your e-book when it comes out! Best of luck in 2015.


    • Thanks Bert.
      Haha…I hope that I will be able to increase my passive income enough to get close to $6K. If things are going well, I may have to move that target of $5.5K further out in the middle of 2015. We’ll see…

      Right now, I am close to 2% in cash reserves…and should hit that target of 3-5% in Jan…so, no investments on my end until the end of Jan atleast. But of course, I hope I dont pass up on opportunities if I see a great one.

      Thanks for stopping by

  6. R2R,

    Nice list of goals for this coming year. I like your relatively conservative passive income goal. As others have pointed out, I’m sure you’ll surpass it. Paying down debt is always a good idea, as long as the interest rate is higher than what you can get from investments. Of course if you despise debt, then paying off debt is priceless.

    I have yet to put together my goals for 2015, but should be formulating my plan in the coming weeks. Big changes next year, that’s for sure.

    Good luck and good fortune to you.

    – HMB

    • HMB,
      The interest rates are low for now, but in Canada, we get terms of 5 years at a time. After that, who knows where the interest rates will be. We hope to start paying down more than the minimum amount. Like FerdiS said in an earlier comment, $100 now will translate to a much different number 20 years from now.

      Thanks for stopping by and the wishes. Wishing you the best with your own goals!

  7. R2R,

    Nice set of goals! Looking forward to read more about the e-book you’d like to write next year as this has been something that I’ve been interested in doing myself.

    Also, I’m pretty sure you’ll surpass your dividend income goal without any problems whatsoever. Dividend increases along the way should push your income halfway the $500 increase from 2014 on their own.

    Best of luck,

    • NMW,
      e-books seem very interesting…and theres a lot that goes in more than just writing it. The launch, marketing etc (just like it is with the blog) sounds very interesting to me. Looking forward to that challenge in the new year.
      Thanks for the wishes, I hope to reach and/or surpass that goal of $5.5K. Best wishes with your own goals.


  8. Hi R2R,

    Nice goals with $5.5K in total passive income, making it closer to almost $500/ month that can pay for lot of things like utilities, house maintenance, and even some food, that you do not have to work for.

    Good luck for your goals in 2015!


    • Thats the idea, PIM. I am slowly working my way towards hitting $1K per month by 2021. Hopefully, I will be able to get there. Thanks for stopping by and the wishes. Best wishes with your own goals for 2015.


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