Initial Goals
I remember vividly the first few dividends income received which was in single or double digits and compared to what the online OG financial bloggers whom were willing to share their updates on their journey, what was ideal seemed so far. But having trudged on (at a very slow pace), whatever small targets I set internally has been achieved. The taste of victory is definitely sweet in this aspect.
Total portfolio value has crossed the target of $350k, dividends income above $20k while still being able to experience the things I consider as LIFE (ie, new countries, hiking journeys, tea, delicious food). I have to say, with the FI mindset, these are all done with cost-consciousness in mind, to prepare for the day where RE comes in and costs must be controlled.
This is the year I am intending to purchase a house and I am thankful that while portfolio value can still be maintained (barring any catastrophic collapse of the financial markets), I am able to set aside a sizable amount for initial cash outlay for the house.
Sudden Inspiration on Lofty Goals
As someone whom enjoys a passive approach to investing, there is always this internal struggle to chase after capital and dividend growth concurrently. At this stage, dividend beats growth in my mental model when it comes to evaluating how well I have done, as it acts like a passive income that provides steady cashflow to reduce anxiety for the daily necessities life.
Hence, this is a lofty goal.
By 2030,
- Portfolio value = $1 million
- Dividends = $50k
Recent Thoughts
I will be the first to admit I am usually more pessimistic on the future outlook and hence a financial buffer is a non-negotiable. Though there has been recent laughs with my colleagues whom are asking why I am not willing to take cab rides, subscribe to more subscription plans, buy more things, stay in expensive hotels, etc (in short, to spend more as it seems like an insignificant amount compared my income). Internally, I am always fearful of being made redundant at work and struggling thereafter to get back a similar comfortable income.
Still, it is clear, I will prioritize being prudent above splurging just because I can afford it. I look forward to the days where I can take public transport during non-working hours to visit the various local coffee shops that are famous for a particular dish.
And with the Lofty Goals, it seems scary, just like how I felt a few years back when I had to envision how 2025 will look like. But as the saying goes, it is better to reach for the stars while and fall on the skies than not setting any at all.
A new goal is welcome at this stage as I felt I have been stagnant in making financial targets (after hitting them last year). The only constant thing that is always on my mind is how to add more to dividend stocks. It has to be balanced with portfolio value moving forward.
It will be another surprise in life and growth stage, as now I will have to think of how to monetize my house, other side businesses?
We shall see.
Cheers to all reading this blog and hope you are all reaching your own targets.
