So with the start of a new year, it is time to review the goals for 2021 and see how I’ve done. I’ve done the goal setting posts before and gone over my 2017-2020 goals in previous posts. As for most people, 2021 was a mixed bag. I failed to put as much into retirement accounts as planned, but the rising stock market and my allocation definitely were successful – in terms of my goals.
For 2021, we had already achieved our FI number, and we probably could have retired already. However, with the Chinese Covid flu in place, there really wasn’t much of an opportunity to travel and do other work. So we planned to continue to work, invest a large portion of our salaries, and stay invested primarily in stocks. We did change our allocation in Sep 2021 away from some bonds and S&P to dividend paying stocks (Blue Chips). It seems to have done well.
So what about 2021?
- Save $29K in tax-advantaged accounts: In early 2021, it looked like I was going to retire early, so I made the decision to stop investing in the 401K and generate more regular investments. When I determined to continue to work, I failed to put my 401K investment back in place. Didn’t realize it till December, so I wasted a lot of money I could have put into tax advantaged accounts. Grade D – $7,801
- Save $41K in regular accounts: I put away my entire bonus, as well as a lot of excess money, and even saved enough to do a $60K Roth conversion in December and pay the taxes for it. Grade A – $44,500
- Increase dividend income from all accounts to $30K/year: My 401K at work does not report dividends separately, so this number may be higher. Grade C – $27,336
- Passive income covers 38% of base living expenses in retirement, estimated at $78K per year: My long-term goal is to get my dividend/passive income up to where it covers over 100% of my expected retirement living expenses, so my investments can continue to grow. Grade C- 35.0%
- Beat net worth growth rate of 7% (it was +14.6% in 2020 with the stock market run up). This is my historical growth rate for the last 10+ years, so I want to beat my average. I expected the market to be flat, but instead, we grew our net worth dramatically. Grade A: +21.8%
- Attend 12 SJREIA meetings. They hold a regular monthly meeting, a monthly meeting for new investors, and a monthly meeting for my specific county. All three could be interesting. Grade A: Attended 13
- Double the number of blog visitors in 2021. Last year it was a little over 6,000. I want to get at least 12,000 this year, so I need to put myself out there more (i.e. comment) and write interesting topics. My thanks to everyone who stopped by, and I try to return the favor, and comment as well. Grade F – only had 5,354 visitors in 2021
- Sell $1,000 for TKD Woodworking. Grade A – $1,300 in revenue
- Setup Funding for TKD Homes Grade A – Account setup and funded with a significant amount to begin investing in real estate
- Write/publish a book on finance. I wrote one for new graduates in 2017, but I have identified an area of the community which hasn’t been served as well in the past. Hopefully I can assist with something here. I’ve got the first five chapters outlined/partially done, but still have a ways to go. Grade F – did not work on
- Begin regular workouts with Gymnastic Bodies Incomplete. Continues in early 2021, but a shoulder injury kept me from continuing in the 2nd half of 2021
- Average 2 hours of cardio per week, which is about what I’m doing now. Grade A: Regular do 3+ hours
- Backpack over 100 miles on AT (did around 58 miles in 2020). Did better this year, with longer trips (3- and 4-day trips) Grade B: 78 miles
- Continue volunteering at Pennsbury Manor at their joiner’s shop (woodworking). Really enjoyed this. Incomplete. Site shutdown due to Virus
- Reduce weight by 15 lbs. from Jan 2021 Grade F. Gained 3 lbs in 2021, mostly in Nov/Dec. Need to knuckle down and get back to where I was in 1st qtr.
- Read at least one book a month. I surpassed this goal in 2018, and re-learned the joy of reading. Grade A. 23 books
- Visit one national parks (that is the plan, right now); Incomplete due to virus
- Visit family in Tennessee, Vermont and New York. Family is very important to me. One of the things I am looking forward to with financial independence is the opportunity to visit family more often. Need to get up to see my brother in Vermont. Grade C – Visited Vermont and Tennessee, but didn’t get up to NY
- Take a week at the shore and just relax with family. Currently planned for July, but we’ll see how many family members can come. Grade A – Did week on the Maryland shore with Mrs. 39 Months
- Visit Ellis Island. Still want to do this – its so close. As 50% Czech from immigrant great grandparents from the turn of the century, I believe they went through there, and I want to see it Incomplete due to virus
So that’s how I did. How did you do in 2020?
Mr. 39 Months