Summer is almost over and it’s time to update my Financial Goals!
As I wrote in the last Passive Income Report during August I worked a lot on the blog. I created two new pages: Financial Freedom and Resources. The first is dedicated to Financial Freedom and the 5 steps you need to accomplish to achieve it. The second one is a always-work-in-progress page where I list all my favourite resources and tools, divided into categories: books, podcasts, products and so on.
August has passed away and as you probably know I write a new update of my Financial Goals every beginning of the month. If you want to read the July update, you can find it here. My suggestion for you is to read the previous updates in order to understand my progress in each goal. Achieving these goals is a long path and in my opinion they make sense only if we follow their progress from beginning to end.
If you’ve read my last Passive Income Report you may know that in August I earned far more than July. I’m really about the result and I hope to keep it more stable in the next months.
But now, check out my Financial Goals progress!
#1 – Reach a 7500 EUR P2P Lending portfolio
No great news for this goal. In August I did not add money on my P2P Lending portfolio. In any case my Investment Portfolio increased because I decided to try out a new investing platform. It’s an app called Oval, and I’m using is to invest on financial instruments similar to ETFs.
The result is that my P2P Lending portfolio is still stable at 4100 EUR, and the total Investment Portfolio increased to 4990 EUR. You can check the composition of my portfolio whenever you want on the page My Investment Portfolio. I added Oval to the pie chart and at the moment it is the 2.2% of my Portfolio.
#2 – Earn 1000 EUR of Passive Income
I’ve already achieved this goal in June. I never expected such a result. In August I added 218,83 EUR of Passive Income. If I add them to the previous total I obtain the amount of 1700,50 EUR of Passive Income in the first eight months of 2019. Awesome result for me!
Remember me to set this goal a little bit higher next year!
#3 – Have 10 different firms in my stock dividend portfolio
In August I did not receive any dividends from my CSCO stocks. Next dividends from this stocks will be at the end of October, so be patient. As you probably know at the moment I own only CSCO stocks as you can see in my Investment Portfolio.
Considering that I’m saving money to invest in ETFs I guess I will not achieve this goal unless we count the stocks in the ETFs. If you have any advices about which ETFs I should buy, let me know in the comments! I always appreciate your interaction. I already have an idea about 2 or 3 ETFs to buy. I’ll let you know everything in future so stay tuned!
#4 – 15 different cash flow sources
As I said before in August I added a new cash flow source. Its name is Oval and I’ve already talked about it in the Resources Page, where you can always find its brief presentation. I’m glad I added a new source. I’m on the right way to achieve this goal.
#5 – Read 5 financial booksRefresh Code
I’m still reading “Principles: Life and Work” by Ray Dalio, the founder of Bridgewater Associates. He explains the principles that he follows in his life, and I think that can be extremely useful to read a book like this.
Lately I’m not reading how much I would like. In the evening when I’m in the bed I’m always very tired and with little desire to read. I really need to change this attitude.
If you want to buy “Principles: Life and Work” I’ll be pleased if you buy it from this link: Amazon IT [25 EUR] (Link)
#6 – Increase my Net Worth by 20%
I updated this goal at the end of June. Next update will be at the end of September. Howewer I’m on the right track to achieve this goal for sure!
Finally, a list of useful things:
I also opened the official Telegram groups for FinanceShot dedicated to my readers. You can find here the italian group and here the english group. We’ll have the opportunity to discuss about all the topics covered by FinanceShot.
How are your financial goals going? Are you satisfied about their progress? Let me know in the comments!
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