I know, I know… It is the end of January and I am only putting out my 2017 goals now! However, it is not my fault that I have not been able to post for the last two months. I moved into a brand new apartment in December when I started my job and did not get internet until two months later! Can you imagine a millennial in 2017 going two months without internet?
To be honest, it really was not that bad. But this is a story for another day.
Today I want to share my 2017 goals and discuss a slight change in my investing philosophy. My goals will be a mix of financial goals, blog goals, and personal goals that will hopefully inspire you to make some lofty goals yourself. I will give a six month update in June and then again at the end of the year to track my progress!
Save 55% of my salary
This is perhaps my biggest and most important goal of 2017. As many of my loyal readers know, I am a huge fan of increasing your savings rate. Wealth is not created by your salary. It is created by the amount you save. I have friends that make more money than me but spend all their money on wants rather than experiences or their future retirement.
Do yourself a favor and begin paying yourself first. You do not want to be that guy/gal who lived your life in your 20s and is still working in your 70s.
Invest $24,000 for the year
My goal is to simply invest $2,000 a month. Half of this amount will be invested into my 401(k) while the rest will go towards maxing my Roth IRA for 2016 as well as 2017 and maxing my 2017 HSA. In my Roth IRA and HSA, I plan on continuing my dividend growth investing strategy to maximize the tax benefits of these amazing retirement accounts. Any additional money I have left over will be allocated between saving for my first rental property as well as purchasing dividend stocks in a regular trading account.
Visit two new places
While I am limited to where I travel until I hopefully get my work visa (If I don’t get it I must leave the US L), I plan on visiting one new state this summer and hopefully one new country once my work visa is approved. Travel has long been one of my passions and I hope to see two new countries a year to expose me to a multitude of different cultures.
Release a new article at least once a week
Life has become very busy since I began working. I have already traveled to three different cities in my short month and a half of work and I will be entering what we call “busy season” until the April 15th tax period is over. This goal will be more challenging than others depending on where we are in the accounting cycle but I am committed to growing this blog and helping my readers improve their financial situation.
Make $200 a month in side income
The last of my goals is to have a successful side hustle. While $200 a month may not seem like a hard task for many, it can make a significant difference in goal #1, 2 and 3. Like goal #4, this will be easier in some months rather than others but I am a firm believer that nothing comes to you in life without hard work.
While I was at a session in New York, we had a career focused talk. Here are some important tips that helped me set these goals. Write down your goals, list them in importance from one to five and throw the rest away. Studies show that having more than five goals makes a person become unfocused as there are too many moving parts. Secondly, write your goals down. As silly as it may sound in a digital age, those that write their goals down are 40% more likely to achieve their goals. As somebody who has done this on a blog, I guarantee you that this works as you feel accountable to yourself and your readers.
Now that I have shared my top 5 goals, what are some of your 2017 goals?