Friday, July 11, 2014

Midway Review of 2014 Goals

With 2014 halfway over, I want to review the goals I've set for 2014 and where I stand. Doing so not only helps to monitor progress, but allows me to make strategic adjustments if necessary.

I've set some challenging yet attainable goals for 2014. Of the four goals, three are easily measurable and my progress at the midway point can be expressed in percentage terms. As for the fourth goal, I've made good enough progress to give myself a passing grade. 

1. Write at least 72 posts.

This is my 52nd post of 2014, so I'm well beyond the 50% mark. Unfortunately, my justification for writing "only" 72 posts this year (compared with 77 in 2013) was that I had planned to launch a second blog in 2014, one in which I plan to use options to magnify dividend income. I have yet to launch that blog, even though I've made several successful trades so far this year. I'm still learning and do not yet feel competent enough to share what I'm up to. Quite possibly, I'll wait until the start to 2015 to launch the new blog. With that in mind, I'm updating my goal today to write at least 100 posts for DivGro in 2014.  ON TRACK 

2. Earn $3,600 in dividend income.

Today, 52% of 2014 is behind us. At this point, DivGro has earned $1,760 in dividend income, which is 49% of my 2014 dividend income goal. So, I'm slightly behind the needed pace. However, considering that DivGro's projected monthly dividend income presently stands at $366, I should easily reach my 2014 dividend income goal.  ON TRACK 

3. Increase projected annual dividend income to $4,800.

Currently, DivGro's projected annual dividend income stands at $4,387. To reach my goal of $4,800, I would need to add $413 in projected annual dividend income before December 31. If I continue to make one stock purchase per month through the end of this year, I need to average $69 of projected annual dividend income per purchase to reach my goal. Given that I'm investing about $2,500 per stock purchase, that equates to an average yield on cost of at least 2.75% per purchase. I think that is easily doable.  ON TRACK 

4. Increase number of holdings to 36, balanced across all 10 sectors. 

The number of holdings in DivGro stands at 31, currently, with about 6 more stock purchases to go. So reaching 36 holdings should be easy to accomplish. As far as sector diversification goes, a while ago I set new sector targets for DivGro and I've made good progress towards reaching those targets. For the remainder of the year, my focus would be on adding stocks in the Consumer Discretionary (4), Consumer Staples (2), Industrials (2), Information Technology (1) and Materials (1) sectors. Adding 6 more stocks in these sectors would diversify DivGro quite nicely!  ON TRACK 

I'm very happy with my progress so far and I'm quite confident that I can meet and even exceed all four goals by the end of 2014.

How are you doing with your goals for 2014? Are you making good-enough progress to meet your goals at the end of the year? Please feel free to share your thoughts and progress!

8 comments :

  1. Looks like you are on track for the dividend income and the forward income. Looking forward to the launch of your new blog about options. Sharing some of your failures in options trading would also be of great value, I think. Hopefully you will share such stories.

    Best wishes
    R2R

    ReplyDelete
    Replies
    1. Hi Roadmap2Retire!

      Thanks for stopping by... I'll certainly share failures in options trading (when I have them :-) along with successes. That's how one learns, right? Anyway, I've traded 7 times so far and have closed 4 with positive results. 3 are still open and in the black. So far so good...

      Cheers
      FerdiS

      Delete
  2. Glad to see you're on track with your goals. Good luck with surpassing them!

    Regards,
    Dear Dividend

    ReplyDelete
    Replies
    1. Thanks, deardividend! Good luck to you on surpassing your goals, too!

      Cheers
      FerdiS

      Delete
  3. Looks like you're doing quite well on your goals. Your dividend income is very solid so far and I'm sure you'll pass both of your dividend goals for the year. I'm doing well on most of my goals but some aren't looking too good. Overall though I'm please with my progress so far this year. Keep up the good work!

    ReplyDelete
    Replies
    1. Thanks, Passive IncomePursuit! Good luck with your goals... if some of them are not going so well, you can start making some adjustments now and perhaps meet or surpass your goals by year's end. I'll need to make sure to average $69 of dividend income per purchase through December (or "cheat" by doing another bonus deposit and buying more than 6 batches of stocks!)

      Take care!
      FerdiS

      Delete
  4. Ferdi,

    Great job! You're nailing all of your goals, which are all really solid and aggressive.

    Keep up the great work!

    Cheers.

    ReplyDelete
    Replies
    1. Thanks, Dividend Mantra -- I saw in your update post that you're doing great on your goals, too, despite some big changes in your life. Good luck and keep on inspiring!

      Cheers
      FerdiS

      Delete

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