Welcome to the penultimate update of my 2019 Financial Goals! November is over and today I’ll update you about the progress of the 6 Financial Goals that I set for this year. As you probably know, sharing them with you keeps me motivated.
Last month I published my first e-book on Amazon, and I love sharing it with you. It contains my Financial Freedom Challenge and its 31 steps. I believe that you can’t find something more useful at that price (only $3,49!). That’s why I suggest it one more time. Give it a look, and let me know what you think about it 🙂
You can have a clear view of my progress only if you follow my path month by month. Click here to check my previous updates. I hope you enjoy them – if you do, please consider subscribing to the blog to receive them directly on your mail 🙂
As every beginning of a new month, I posted on the blog my Passive Income Report. In November I got a Passive Income of almost 275 EUR. Not bad, but not as good as my usual results. I need to work hard on it to make it as stable as possible. But now let’s check the November progress of my Financial Goals!
November 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. During the year I changed my mind, and I decided to save money to invest in ETFs, as you probably read on this blog. I already wrote an article about my ETF Investment Strategy in which I list the 5 ETFs I chose to invest in. If everything goes right, I’ll start this investment the last week of December, or maybe the first of January 2020.
In any case, as you can imagine, I’m not investing money in P2P Lending for the moment. I want to balance my Investment Portfolio before investing more in P2P Lending or Real Estate crowdfunding. My Portfolio needs more diversification and I’m working on it.
However, my P2P Lending is constantly increasing because I do not withdraw anything from the platforms. At the end of November, it reached a cumulative size of 6760,32€, and my cumulative investment is 4100€.
I’m sure I’m not gonna achieve this goal, because it means that I’m creating a well-balanced Investment Portfolio, with a P2P Lending percentage not too high. I still have a lot of work to do, but I’m impatient to do it!
#2 – Earn 1000 EUR of Passive Income
I already achieved this goal some months ago. This means that it was too easy, but at the beginning of the year I never imagined these numbers!
Next year I need to set this goal higher. I’ll share with you my 2020 Financial Goals in a dedicated post, that you will receive on your mail if you’re subscribed to the blog 🙂
Let’s make some calculation:
- Previous Total Passive Income: 2537,55€
- November Passive Income: 274,68€
- New Total Passive Income: 2812,33€
- Average Monthly Passive Income: 255,67€
I’m so happy about these results! I still can’t believe I got results like these. Maybe some of you may seem small results, but I assure you that for me they are incredible and they mean that I’m working well and I’m on the right path 🙂
#3 – Have 10 different firms in my stock dividend portfolio
At the moment I have only CSCO stocks in my Investment Portfolio. During November I received no dividends from them. I intend to sell them, but I’m waiting for better selling prices. I am in no hurry, so I will continue to wait.
The only way to achieve this goal is to start investing in ETFs within the end of the year. I do not want to buy 9 individual stocks just to achieve this goal. So we’ll see if I do it on time!
#4 – 15 different cash flow sources
I’m constantly increasing the number of Cash Flow sources. In particular, as I wrote in the last Passive Income Report, in November I added a new cash flow source. I’m talking about Celsius Network, a platform that allows earning interests on our crypto coins. I deposited part of my BTC portfolio and I’m already earning interests on my deposit.
I need just one more source to achieve this goal, and I’m confident of achieving this goal!
#5 – Read 5 financial books
Now I’m reading “The Millionaire Fastlane” by MJ DeMarco and “Awaken the Giant Within” by Tony Robbins. They’re two incredible books and I hope to finish them within the end of the year. I’ve almost finished the second one, while I’m rather back with the first one.
My plan is to finish “Awaken the Giant Within” as soon as possible and then completely dedicate myself to the other. I think I can do this!
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
Only one thing is sure here: next year I need to read more!
#6 – Increase my Net Worth by 20%
I’ll update this goal in the December Update because I’m used to compute my Net Worth every 3 months. The latest update was at the end of September. I believe I’m on the right track to achieve this goal, but we’ll see in the next update.
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!
Here we are at the end of this November Update of my Financial Goals! I hope you find it useful and that it can be somehow motivating for you 🙂
I’m already working on the Financial Goals for 2020. 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 are your financial goals going? Are you satisfied with their progress? Let me know in the comments!