Welcome to the December update of my 2019 Financial Goals! 2019 is over and in this post I want to make a recap of my Financial 2019. As you probably know at the beginning of 2019 I wrote down 6 major Financial Goals and I tracked them here on the blog every month.
Before this, a short memorandum for you: in October I published my first e-book on Amazon. It is about the Financial Freedom Challenge and its 31 steps.
Do you want to start 2020 at its best? If the answer is yes, I suggest you to buy it and complete the challenge. This will revolutionize your year (and your life!). Click here to check it out 🙂
In this last update of 2019, I would like to list all the 2019 updates of my Financial Goals, so you can have a clear view of my progress.
As every beginning of a new month, I have already posted on the blog my December Passive Income Report. In the last month of 2019, I got a Passive Income of 223,46 EUR. It is a little bit lower compared to the previous ones, but I’m completely satisfied with the results that I obtained in 2019 and I hope to do even better in 2020 🙂
But now let’s check the December progress of my Financial Goals!
December 2019 Update of my Financial Goals
#1 – Reach a 7500 EUR P2P Lending portfolio
I set this goal at the beginning of 2019 when I intended to create a “big” P2P Lending Portfolio. As you know, during the year I changed my mind, and I decided to save money to invest in ETFs, as you probably read on this blog. In the “my ETF Investment Strategy” post I list the 5 ETFs I chose to invest in.
So I’m not investing money in P2P Lending for the moment. But my P2P Lending is constantly increasing because I do not withdraw anything from the platforms. At the end of December, it reached a Cumulative Size of 6859,48€ (91,46% of my Goals), and my Cumulative Investment is still 4100€.
I consider this goal failed, but I consider it a success because I realized that if I continued to invest in P2P my Investment Portfolio would have been too unbalanced.
#2 – Earn 1000 EUR of Passive Income
I achieved this goal many months ago. In hindsight, it was too easy. The point is that at the beginning of 2019 I never expected numbers like these!
I set this goal much difficult for 2020, but I’ll talk about it in a future post. You will receive it on your mail if you’re subscribed to the blog 🙂
Let’s make some calculation:
- Previous Total Passive Income: 2812,33€
- December Passive Income: 223,46€
- New Total Passive Income: 3035,79€
- Average Monthly Passive Income: 252,98€
The initial goal was to obtain an Average Monthly Passive Income of 83,3€. I got a far higher result (almost 253€), so I couldn’t be happier. Goal achieved!
#3 – Have 10 different firms in my stock dividend portfolio
In the last month, I bought some Datalogic S.p.A stocks, because I think that its price can arise in the future.
So at the moment I have CSCO and DAL.MI stocks in my Investment Portfolio. During December I received no dividends from them. I intend to sell them, but I still have to decide when.
I did not yet start to invest in ETFs, so I don’t any more stocks in the Portfolio. So I consider also this goal failed!
#4 – 15 different cash flow sources
In December I increase again the number of Cash Flow Sources. I used some of my earnings derived from DiversityFund and SolidTradeBank (be cautious with them!) to invest in a platform similar to them.
With this new entry, I achieved this goal. I think that this was one of the most important goals because having many Cash Flow Sources is essential. Goal achieved!
#5 – Read 5 financial books
I finished to read “The Millionaire Fastlane” by MJ DeMarco and “Awaken the Giant Within” by Tony Robbins. For this goal, I counted only the first one because the latter is not a financial book in my opinion. We can say that I failed this goal but I am completely satisfied with the books that I read in 2019. In any case, in 2020 I want to read more than in 2019.
Now I’m reading “The Essays of Warren Buffett: Lessons for Corporate America“. I’m on page 40 but I can say that it’s extremely interesting!
Financial books I read in 2019:
- Principles: Life and Work by Ray Dalio
- Zero to One by Peter Thiel
- The Little Big Things: 163 Ways to Pursue Excellence by Tom Peters
- The Millionaire Fastlane by M.J. DeMarco
#6 – Increase my Net Worth by 20%
It’s time to update also this goal, that in 2019 I updated every 3 months. In 2020 I’ll attach great importance to the Net Worth topic. I already decided to dedicate a post per month (and also a dedicated page) in 2020 to this topic because of its importance. I hope you like the idea!
The latest update was at the end of September. At the beginning of January I made the new calculations, and the result is positive! My Net Worth increased by 21.5% in 2019, and this is a great result I think 🙂 Goal achieved!
As always, I hope you find this post useful and that it can be somehow motivating for you 🙂
In general, I can say that I’m very satisfied with my Financial 2019. Obviously, I can do much better, but this will be part of my 2020 Financial Goals.
I’ll write a dedicated post to the Financial Goals that I set up for 2020, and then I’ll monthly track them as I did in 2019. I noticed that you like this kind of post, so I’ll continue to write and share them.
I already set up my Financial Goals for 2020. As I said many times, setting goals is extremely important, and since I started doing it, my life has changed! That’s why I suggest you to do the same.
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How did your Financial 2020 go? Are you satisfied with it? On what you want to focus on in 2020? Let me know in the comments! 😀