2016 Personal Finance Goals
The reason why it took me this long to share my goals for 2016 was because I had to take some time to re-evaluate my life and what I wanted out of it financially. From my 2015 goals review, it is clear that I had fell extremely short of my expectations.
I have concluded that I had too many goals and many of them were unrealistic. This is why my list for this year will be shorter and be more feasible. Here it is:
By the end of 2016 I will:
- Develop a system to generating $1,000 of passive income per year.
- Contribute my 2016 TFSA and RRSP limit.
- Generate $5,000 in returns through my stock portfolios.
- Invest in a property and move out of my parent’s house.
- Write at least 4 blog posts on ME (1 per week)
That’s it! These are the 5 goals that I will solely focus on in terms of finance.
What are your goals for 2016?
8 Responses to “2016 Personal Finance Goals”
These are very SMART goals. It’s important to have attainable goals. I learned that the hard way. It’s okay to aim high 🙂 just don’t be upset when falling a little bit short, 🙂
Man, moving out of the house? I’d leave at home as long as I could, saved me tons of money. I guess the western mind set is kind of ingrain in us.
Best of luck reaching your goal.
I would too but I think its time I start learning some responsibility and grow as person. IM ALMOST 30! 🙂
Hey ME,
The goals are great. How do you define the difference between 1 and 3?
Is 1 a side hustle?
I have a goal to generate 1000 euro with my play money via options and dividends.
Good luck with your goals
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Hi Ambertree, thanks for visiting.
1 is more of a side hustle, like starting a business, renting out properties, etc. while 3 is purely a stock game in my portfolio.
How much money do you have to play with? Generally, if you have a lot, the easier it would be to reach your goal.
The play money is the same between 2015 and 2016. The goal is approx 50 PCT higher than what I did in the last half of 2015.
Great update Jeff. It’s good to see that you’re making so much progress. I’ve found that goals are only as unrealistic as you make them. Continue shooting for the stars.
Thanks Sean!
Last year’s goals were too unrealistic which was why I fell short and was disappointed. I’ve made my 2016 goals to be more realistic though and I will definitely continue to aim high!
A lot of great goals you set up for 2016 with many certainly being attainable. Curious to read about your property investment and how that will pan out. Home ownership is nice but very expensive. I think most underestimate the cost of owning a home. Thanks for sharing.