Welcome to the October 2019 update of my Financial Goals! Like every beginning of the month, I would like to share with you their progress. This motivates me and allows me to track them.
During October I reached an incredible goal. Actually it is one of the non-financial goals that I wrote down at the beginning of the year. I’m talking about publicizing on Amazon my first e-book. It is the English e-book version of the Financial Freedom Challenge: 64 pages, 31 financial challenges and 31 days to achieve them. Are you ready to take it?
During October I had to dedicate a lot of time to the Challenge. I had to answer many emails, check the daily post to make sure it was all right and many other important things. I’m telling you this to explain why I had very little time to work on my Financial Goals.
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 and subscribe to the blog to receive my future updates on your email.
Some days ago I posted my Passive Income Report for October. Check it out to find out how I got a Passive Income of almost 400 EUR and how I’m planning to increase it in the next months.
October 2019 Update of my Financial Goals
#1 – Reach a 7500 EUR P2P Lending portfolio
During October I did not deposit any money to my P2P Lending Portfolio. The reason is always the same. I think I reached a good amount of money invested in P2P Lending. When I set up this goal at the beginning of the year I had no intention to try new interesting financial instruments. During the year I decided to start investing in ETFs and this is why I’m saving money.
In any case every month my P2P Lending Portfolio increases because I do not withdraw from my balances. Indeed from the last month, it increased by more than 200 EUR.
- My Total Investment: 4990 EUR
- Portfolio Value: 7277,56 EUR
#2 – Earn 1000 EUR of Passive Income
This goal was too easy to achieve. Next year I need to set it more difficult to accomplish. Remember that we have to set realistic goals but not too easy to achieve. We always have to aim high. I’ve achieved this goal in June when I reached a Passive Income of 1000 EUR. With the Passive Income obtained in October, I got 2537,55 EUR of Passive Income in 2019. The average of 253,76 EUR per month is far higher than my initial goal.
#3 – Have 10 different firms in my stock dividend portfolio
During October I received dividends from my CSCO stocks. I have the intention to sell them in the next weeks. I intend to collect my money and reinvest it in ETFs. With these dividends, my total dividends for 2019 reached the amount of 6,09 EUR.
I think that these will be my latest dividends for 2019. I’ll start to receive dividends again in 2020. They’ll derive from my investment in a High-Dividends ETF.
If my ETF investment strategy will be on time, I’ll achieve this goal in December, when I intend to make my first investment in ETFs. I’ll write a dedicated article to my investment strategy. Stay tuned if you’re interested in this topic!
#4 – 15 different cash flow sources
During October I added a new cash flow source to my portfolio. As I said before I started to sell my first Kindle e-book. Moreover, I already sold my first copies. So I’m currently at 13 cash flow sources out of 15. Not bad!
I think I’m on the right track to achieve this goal.
#5 – Read 5 financial books
Finally, I finished reading “Principles: Life and Work” by Ray Dalio. It took me longer than I would have liked, but there was a period when unfortunately I read very little.
Fortunately, in the last weeks, I’m reading more and more. In fact, after this, I already read the biography of Elon Musk written by Ashlee Vance and also “The Hobbit or There and Back Again” by J.R.R. Tolkien. The second one is not for sure a financial book. Instead, the first one is on the limit between a financial book and a non-financial book. Actually, I don’t know if I should count it or not for this goal. For the moment I do not count it.
In addition, I would like to highlight how much I liked the biography of Elon Musk. It is an incredible book, trust me.
#6 – Increase my Net Worth by 20%
As you probably know I update this goal every 3 months. The latest update was at the end of September. Instead, next update will be in the December update of my Financial Goals. I’m on the right track to achieve this goal, but I still have to work hard for sure.
Besides in 2020 I’ll dedicate a monthly post about this topic because, as I wrote in the Financial Freedom Challenge, it’s one of the numbers that we always have to track. Maybe I’ll also create a new page for this particular topic.
That’s all guys, this was the October 2019 update of my Financial Goals! I hope you liked it 🙂 If you have any advice/questions feel free to leave a comment and I’ll be pleased to answer you.
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How are your financial goals going? Are you satisfied with their progress? Let me know in the comments!
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