As a young investor, I think it's important for me to aim high, but also be realistic. Unfortunately, I'm stuck in a situation where my total work and school hours total to about 50-55 hours per week, so I really have to manage my time in doing research to see what and where to invest in. So, here are my goals for this year.
1. Increase Net Worth to $35,000
Currently, my net worth is about $11,000. My net worth has to be my top goal because it's what will get me that much closer to retirement and getting out of debt. I honestly think this an attainable goal. With work, I should be able to get pretty close to $30-35,000, and with my investments, I hope to surpass my goal. It's going to take a lot of research to find the right stocks that have the right combination of growth and dividends. At some point in my investing career, my top goal will shift to gaining as much passive income as possible. As for now, I understand how important it is to simply bulk up via net worth, to help open more doors in the future.
2. Make $700 of Passive Income
Passive income is key when it comes to retiring as early as possible. Right now, most of my passive income will be coming directly from dividends, so I will be constantly researching which stocks are the best buy at the current time to make as much of dividends as I can. In order to be able to buy these stocks that pay out great divs, I'll need to raise my net worth. This is why my first two goals kind of mesh together. In the future, I am hoping that my passive income will not only come from stocks, but will come from real estate, a business, etc. For now, being a young investor, I'll focus on making as much of dividends as I can. $700 is a very lofty goal.
3. Learn About Business and Real Estate
This past year has taught me a lot about where I would like to be in the future. Obviously, the goal is to retire as quickly as possible while having enough money to support myself and a family. Working for a CEO for the rest of my life is definitely not something I want to do, so it's important for me to begin to wet my feet in what it takes to own property. I am also very interested in opening my own business at some point in my life, and understanding the logistics and building a foundation of knowledge of how small businesses work is very important. I'm hoping that I can make enough time in my year to learn about some possible ventures I will be taking down the road. We'll see where I land after this year. If anyone has some suggestions on good readings, leave me a comment!
4. Increase Body Weight to 175 Pounds
This goal is more for fun. Right now, I weigh 155 pounds, and I'm trying to find time in the day to hit the gym hard! Fitness is important to me, and it's a great way to de-stress when dealing with all the junk that comes along with work or school. The plan is to get into the gym 3-4 times a week, which I have been doing a good job of doing. I also need to increase my calorie intake and maintain it at about 2800-3000 calories a day. That's so tough when I spend 15 hours of my day at school, work, or driving! No excuses. I think I can achieve this goal. 20 pounds of muscle, bro.
What do you think about my goals? Agree, disagree? Achievable? What are your goals this year?