The third quarter of 2019 came to an end and it’s time to update my Financial Goals!
I anticipate that during September I had little time to work on my Financial Goals. As you probably know I launched the Financial Freedom Challenge and it required hard work to build it up. I suggest you check it out because it’s incredibly interesting and useful for those who want to work on their financial life.
September 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 August 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 September I achieved a great result in terms of Passive Income. I think I’m on the right track to keep it a little bit more stable.
But now, check out my Financial Goals progress!
#1 – Reach a 7500 EUR P2P Lending portfolio
Again, no great news for this goal. In September I did not add money in my P2P Lending portfolio. I’m simply reinvesting all the gains that come from these platforms because I’m not withdrawing anything from them. This fact causes a monthly increase in my Investment Portfolio (that last month reached a new high, 7000 EUR) but as you know I’m saving to invest in ETFs.
- My Total Investment: 4990 EUR
- Portfolio Value: 7037,43 EUR
#2 – Earn 1000 EUR of Passive Income
I’ve already achieved this goal in June. I never expected such a result. In September I added 444,40 EUR of Passive Income. If I add them to the previous total I obtain the astounding (for me) amount of 2144,90 EUR of Passive Income in the first nine months of 2019 and an average of 238 EUR per month. Awesome result for me!
I need to set this goal a little bit higher next year!
#3 – Have 10 different firms in my stock dividend portfolio
Again, no dividends for me during September. Next dividends from my CSCO 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 advice 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 the future so stay tuned!
#4 – 15 different cash flow sources
Unfortunately, I did not add any new cash flow source during September. As I said before I worked a lot on the Challenge and I had no time to find new interesting investments. My last investment is still Oval and I’ve already talked about it in the Resources Page, where you can always find its brief presentation. Check it out if you want to receive the 5 EUR Bonus.
#5 – Read 5 financial books
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. I’m almost at the end, I need one week to finish it.
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)
Besides I started to read “The Millionaire Fastlane” by MJ DeMarco. I’m still at the beginning of it but it seems very interesting. (Buy it on Amazon)
#6 – Increase my Net Worth by 20%
New update for this goal! Honestly, I’m not so satisfied with my progress on this goal. In the last 3 months, my Net Worth increased by 0.96%. Since the beginning of the year, it increased by 15.01%. I need to work hard in these last 3 months of 2019 in order to achieve this goal. My motivation is sky-high!
Finally, a list of useful things:
Do not forget that I opened a Facebook page and an Instagram account for FinanceShot. In particular, I suggest you follow our Instagram profile because we daily post interesting content (weekly updates of the investments and so on). Follow them if you don’t want to miss anything or interact with me. It’ll be a pleasure for me!
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 all the topics covered by FinanceShot.
How are your financial goals going? Are you satisfied with their progress? Let me know in the comments!
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