Monday, January 13, 2020

Goals for 2020

I recently discussed if I reached my goals for 2019. In this post I will elaborate on my financial goals for 2020. Here goes!

1. Deposits

New money is the fuel to my dividend machine! I've setup two monthly (automatic) payments.

  • € 300,- towards my tax free retirement account.
  • € 300,- towards my regular investment account.

I will increase my regular deposits toward my investment account to € 300,- per month, so € 3.600,- for this year.

For my tax free retirement account I can can still deposit around € 10.000,- tax free because my employer pension does not fully reach the tax treshold, therefore I am eligible to fund my tax free retirement account with my own money. Last year I deposited around € 1.900,-.  For this year I am setting a goal of € 3.600,- for this year.

Finally I would like to increase my ownership position in the company where I'm employed. I work as a consultant for a midsize consultancy firm specialised in real estate and area development. I currently have a medium stake which I'd like to increase a bit. So therefore I will save another € 1.800,-.

So all in all I want to deposit at least € 9.000,- this year towards my various investments. This is almost 60% more than I deposited last year. However, I think this is achievable!

2. Forward dividend income

Currently my dividend income is around € 1.700,- before tax. With the combination of invested capital, dividend growth en reinvestment of received dividens I am hoping to reach a forward dividend income of € 2.050,- (before taxes). This would mean an increase of 20%.

This it! It's just two simple goals. The first one is actually the most important. The 2nd is mostly a derivative and something I don't have a lot of influence on. I decided to not set another goal, for instance for blogging, as I don't want to feel obliged to write if I don't feel like it. Best of luck to you all in 2020!

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