1st Quarter Goals Review

I only set 6 goals for myself this year. Now that the first few months of the year have come and gone – let’s take a quick look at which goals I’ve already completed – and where I need to get my ass in gear.

2018 Personal Goals:

1- Increase the amount of blog posts – and the range of content on this site

So far so good.  In the first 3 months of this year I was able to add 16 new posts. I ended the last 3 months of 2017 with 9 posts, so definitely starting to increase the frequency.

2- Get life insurance &  a will in order

Goals Blog Money Maaster dividends investing jordan maas

Not only have I not done this – I haven’t even begun looking into it.  My wife is going back to work in 2 weeks – so once I get an idea of her life insurance at work, salary, etc I should have a better idea of what exactly we would require for life insurance.  As for a will – I don’t even know where to start…

3-Take the wife to 5 new restaurants 

Need to step up here as well.  We’ve actually gone out a couple of times for dinner – but never to a new place.  Once I specifically tried to find a new place but she was hungry and yelled at me to just pick the closest place…So although this has been an epic failure so far – I am half blaming the wife 🙂

2018 Financial Goals:

1-Sell off Mutual funds through my bank and replace them with low cost ETF’s

I am happy to say this is 100% complete.  I sold the following two funds:
RBC Canadian Equity Income Class A
RBC Global Dividend Growth Class A

I replaced the global fund with XAW (All World EX Canada) & I liked the Canadian Equity fund so much that I just moved it to a Series D fund with lower MER.  You can read more about those decisions HERE.   By switching these funds over, I am now almost $2000/year in fees!

2-Receive $10,000 in passive dividend income*

My current forward annual dividend income is sitting around $6000.  When I made this goal I was originally planning on switching over my work RRSP to some ETF’s that pay dividends as well – however after closer inspection I found out we get a special group management fee rate – and the MER on these funds is only 0.5%.  These funds have performed very well for me as well since 2006.  I decided to keep these funds in these accounts, and while they don’t pay dividends, the overall rate of return makes up for it. It is pretty safe to say i will not hit this goal this year – however I will keep trying to sock away a bit extra each month to get as close as possible.

 

3-Increase overall portfolio to $350,000.00*

At the time of writing this, my portfolio currently sits at: $301,685.49.  This is basically exactly where it was in January when I set the goal.  This is what happens when you have a portfolio that consists of 90% equities.  The recent stock market pull backs saw my portfolio drop for 2 consecutive months, however it looks like I should end this month back up.  Getting to 350k by the end of the year will be tough- and is probably almost entirely out of my control at this point.  If the stock markets rise by 10% or so I may be able to do it – but if they keep stagnant or drop – I definitely won’t achieve this goal.

 

Summary

It’s not looking too good right now.  Assuming I can wine & dine my wife 5 times I should be able to guarantee 50% of these goals are achieved.  I also think I should be able to sort out the life insurance & will this year which would bring me to 4/6.  The last 2 are going to be tough – and are basically in Mr. Market’s hands now…

 

*The last 2 goals are more for fun, and to keep me motivated to invest as much as I can – but in the long run, it wont matter if my portfolio breaks 350k this year, or if I make 10k in passive income this year.  I am in this for the long haul, and with my asset allocation I know there are going to be bumpy rides along the way.  Once I get a bit older and adapt to a more conservative approach then I can start worrying about things like ensuring my passive income can cover my expenses – for now it’s all being reinvested anyway.

2 Comments on “1st Quarter Goals Review

  1. Good thought process and accountability Jordan. It’s tough to set short term net worth goals. The bigger your net worth gets, the more it is influenced by market conditions that are out of your control in the short term. Additional contributions and dividends just can’t make up for big market declines. Tom

    Like

  2. Nice jordan

    Not bad, the restaurant one should be easy to do!

    Im sure the jets making the playoffs and advancing another round, is killing your budget.

    Still doing great. Keep it up

    Like

Leave a Reply to CanadianPassiveIncome Cancel reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: