Goals for 2016

The year 2015 is almost over and as we wrap up and look back at the year that was, a question always emerges on the horizon – What Next? As investors, we all want to achieve financial independence and build our income stream so that we may have the freedom of choice to do what we want. To make steady progress on a regular basis requires determination, patience and of course a target in mind. This is where goals come in. Setting and writing down goals and working towards them are one of the best ways to make progress. Over the last few weeks, I have been thinking about setting financial goals and setting targets. Following are the goals that I am setting for 2016.

Goals for 2016

  • Total Passive Income of $9,000 – Our investment portfolio and other sources of passive income are on track to generate approx $7,500 in passive income in 2015. This has been a much higher number than we had anticipated for 2015. While our cash flow will be affected over the next year and I want to hold off on investing in some of the high-valuation stocks, I am still setting a high target and will be working towards it.
    • On a side note, I am also going to move my medium/long term goal of hitting $12K passive income ($1k per month) ahead by two years – from 2021 to 2019! I am making great progress that I did not anticipate when I started this journey and I think I can reach that goal by 2019. If I sail past the $9K goal in 2016, I might consider bringing that goal even closer to either 2017 or 2018 🙂
  • Achieve better balance across asset classes and sectors – Over the last few weeks/months, I have been contemplating how my overall portfolio is structured and find that I have a pretty aggressive tilt towards individual companies. While I subscribe wholeheartedly to the dividend growth investing model, I want to achieve some balance by diversifying into other asset classes using various investment vehicles (using ETFs perhaps?). I will be elaborating more this in the coming days.
  • Take atleast two finance related courses – To further my education and understanding in business/finance/economics, I intend to take atleast two courses in 2016.
    • There are a plethora of free e-courses available online and I am looking to sign up and complete atleast one course in 2016.
    • In addition, I am also interested in taking a financial planning course at a local college. The course is extremely affordable and it will give me knowledge on the tax-planning front that I have limited knowledge about.
  • Blog Growth: I want to continue growing my readership of the blog and will be looking for new avenues to increase the pageviews. For the past few months, the readership has plateaued and my pipe dream of 20K pageviews per month remains far too optimistic. For 2016, I want to achieve 15K pageviews per month consistently from the current 10-12K/month.
  • Write an e-book – This has been one of my long term goals, and I first set this goal in 2015 and failed with no progress. I want to take another crack at it in 2016. I look forward to learning and exploring and all the experience that comes with launching an e-book.

Have you set your goals for 2016 yet? Share them if you have. What are your thoughts on my goals. Leave a comment below – as I value your comments and feedback.

< Goals

Image Credit: freedigitalphotos.net/BPlanet

39 thoughts on “Goals for 2016

  1. R2R,

    I have experienced the same phenomena where my goal is getting closer not farther away. I attribute that to publicly stating my goal and publishing my progress on a monthly basis. This focus and accountability keeps the subconscious working towards attainment even when you aren’t actively thinking about it. I think I will achieve my goal a year sooner and will be able to make the decision whether or not I want to continue working for a paycheck or not. Good luck in 2016.

    Best regards,

    Deets

    • I believe you, Deets. Setting my goals, writing them and sharing them publicly has allowed me to stay true to the course over the years. I remember when I started this blog in 2013, and was making about $100 per month, getting to a $1K per month seemed so far off that I figured even the year 2021 seemed improbable. Now, I have moved that goal closer. Fantastic! We are all making good progress towards financial independence – and its a pleasure to share this journey with you.

      Best wishes
      R2R

  2. Happy New Years (almost)! Outstanding passive cash flow buddy. Those sound like outstanding goals, well balanced and reasonable. Nothing about Baby R2R? We are just having a few basic goals for 2016, because I expect my wife and I will experience many changes next year. Personally, I need to work hard on being more focused and diligent about my side hustle activities.
    -Bryan

  3. R2R – Solid goals for next year. Definitely won’t be easy but seem to be achievable!

    Now that we have our student loans out of the way, we will be concentrating a lot more on saving. It will be difficult to get to the levels I want since we cut our income by 40% when my wife started staying home with the little one but if you make them too easy you don’t have the extra motivation to try and reach them. I also need to set aside more time to work on growing my side hustles. I know these will be big in the future towards achieving FI.

    • Im sure staying home with the kids to raise them when they are young will pay dividends for your family bonding. I think you have a good plan to focus on savings after paying down your student loan. Aim high and go for it!

      R2R

  4. RM2R,

    Nice goals!! $9K should be awesome, essentially adding $1500 during 2016 – which is fairly similar to my goal as well. Congratulations on taking a look at the picture and realizing that $12K is a lot closer than you think!

    Excited to see your progress as always, and good luck on the last few days of the year.

    -Lanny

  5. Good luck, R2R! You set some pretty tough goals for yourself, but I’m sure you’ll make 2016 a good year for you.

    I hear you in the blogging goals. I’m trying to increase my page views as well, as well as my blogging income. It’s not easy. Hopefully I will be earning $100/month by the end of the year and be getting way more than the 1,500 monthly views I get now.

    Can’t wait to read your ebook once you write it.

    Sincerely,
    ARB–Angry Retail Banker

    • I hope so, ARB. I have high hopes and will be working hard in 2016 to meet those goals. Generating income from blog hasnt been that easy – but Im hoping to get an increase on the pageviews and hopefully that will translate to other metrics improving.

      Best wishes with your own goals in 2016
      R2R

  6. It’s that time of the year again. I’ll be posting my 2015 goal status and my 2016 goals soon. Thanks for sharing yours. I really like that you are going to take a few classesl. I look forward to your future posts on ETFs. As for site traffic, I say just keep doing what you’re doing. It takes time and as time goes on your SEO strength grows.

    Best of luck in 2016

    • Looking forward to see how you did in 2015 and what you have in store for 2016. You have been investing pretty consistently through the year and Im sure you have some great results to share.

      Thanks for the wishes
      R2R

  7. Wow, it’s great to be enrolled at college and take advantage of free e-course. Feel free to share the links 🙂

    Wow, 10-12j/month page views is some serious hustling. I’m far from reaching that number. Every site o visit. I saw your comments. So I know you work hard to stay connected. I think if you keep this up, 20k won’t be too far in the future.

    Cheers.

    • Thanks for the wishes, Vivianne. I will share a more detailed post on the courses and the other goals in the coming weeks. For now, I wanted to set the goals before the year starts.
      You are doing great with your blog – keep at it and Im sure the pageviews will keep growing.

      Best
      R2R

  8. Nice goals R2R, we will be reviewing our 2015 goals soon and then draw up some goals for 2016. I like all your goals and am right there with you on growing the readership! We also found that once you reach 12-15K pageviews a month, it is hard to get those pageviews consistently higher. Regarding your achieving diversity across various sectors and/or asset classes, may I suggest a goal of picking up a certain number of ETFs for company stocks in an sector you are currently light in, or maybe percentages to end up with in each sector. I’ve been told and have read in many books that all goals must be measurable and having a set number in there somewhere certainly would accomplish that. 🙂

    Cheers to an even better 2016! AFFJ

    • Looking forward to what you come up with for your 2016 goals. Interesting that you hit a plateau with 12-15K as well. We will need to find a way to break through the barrier and reach higher numbers.
      Yes, thats a good idea to use ETFs with sectors that an investor isnt well versed in, or doesnt want to take immense risks in. I did that in the past when I wasnt in any individual utility company – and simply got exposure via a utilities ETF. Looking for a similar option for the other asset classes now.

      Best
      R2R

  9. Thanks for sharing your goals Sabeel. You’re doing fantastic bud. Your goals and aspirations are becoming more real more faster and quicker. Keep hustling it up and before you know it, you’ll crush every single one. Easy Peasy bud.
    Thanks for sharing your wonderful journey with us my friend and always a pleasure. Here’s to a wonderful 2016!!
    Have fun with the love ones bud.

    • Thanks for the wishes, Tyler. Its always great to hear from you – and the inspiration you provide for the rest of us in the community. Hopefully we will get there soon. Its been a great year sharing our thoughts and the journey with each other – lets keep it going! 🙂

      Hope you are spending the holidays with your loved ones. Wishing you the best and a happy new year!

      R2R

  10. $7,500 is great income. $9,000 and $12,000 are solid realistic goals.

    I’m looking forward to the eBook, you’re a great writer with a talent for breaking things down, I know the book will be good.

    • Thanks for your kind words, Devin. I hope I can get to $9K goal – seems lofty. But last year, $5500 seemed high and I was able to sail past it easily.

      I have a few ideas on the ebook. Will share the details when its more solid 🙂
      R2R

  11. Love your passive income goal, although it will happen if you focus on your savings rate first and foremost.

    You cannot control market (and therefore) dividend returns, so focus on what you can control 🙂

    Continued success in 2016!

    Mark

    • Well put, Mark. All I can control are my expenses and savings rate and the rest – I have to take what the market gives me.

      Thanks for the wishes. Hope 2015 treated you well and wishing you the best for 2016.

      cheers
      R2R

  12. B says:

    Hi R2R

    Great motivation and going you have there.

    Keep it up and grow your blog. I’ve been reading some of your posts but probably my first time commenting here.

    All the best to your 2016 goals.

    • Welcome, B. Always good to meet new readers. Thanks for stopping by and commenting.

      Looking forward to write better articles and grow the readership on 2016. Wishing you the best in 2016.
      R2R

  13. R2R,

    Nice set of goals Roadmap and should set the table for a successful 2016! $9,000 in passive income is amazing and I have a hunch you are going to blow past that mark before you know it.

    I love the diversity of the goals. You have an interest in personal finance so you are attacking it. Boom, should be solved by 2017. Just out of curiosity, what are your potential topics for the e-book? Excited to read it when you finally publish your work.

    Best of luck in 2016!

    Bert

    • Thanks for the wishes, Bert.
      Im hoping that I will be able to make good progress and get to that goal of $9K. That would be pretty amazing…but right now, it seems like a pretty tall order.
      To be frank, I am not sure what the topic of the ebook will be. I have a couple of vague ideas (more investment leaning than personal finance), but nothing really stands out and sticks. Maybe its one of those things that I need to just get started with, and then I will start forming better ideas and work better. Lets see…I will keep you posted when I decide on something 🙂

      R2R

  14. Thats awesome to hear that you were able to make your passive income goal and think that you will be able to move ahead your long term goal by a full two years to earn 1k a month!

    I am curious how the world events from 2015 will develop in 2016, and the effects on the markets they will have. Hopefully we’ll get some good opportunities to advance both of our dividend income goals 🙂

    All the best!

    • Thanks for the wishes, DW. Things are going strong and hope to keep that momentum going forward. Hopefully 2016 will bring some good opportunities.

      Wishing you the best for 2016.

      R2R

  15. Having some concrete passive income goals is great. I guess helps to visualise the real end goal if financial independence.
    I follow you on balancing individual stocks with etfs. It is in the back if my mind as well. The Belgium tax regime us quite hard I feel for dividend investing. On a us stock I pay approx 40 pct if tax. There are some others in Belgium giving inspiring stories, so it seems to be possible. It stays a tough call.

    • Hey AT,
      I keep going back and forth on the allocation I want on the stocks vs ETFs. Its one of my goals this year to reassess and reallocate. I will be sharing more detailed plans on that in the coming days/weeks.
      That sounds rough – the amount of tax you are owed for investing. Almost makes you wonder if its even worth the trouble. Are you charged the same if its an ETF traded on the local exchange?

      R2R

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