|80% take-home pay savings rate||84.00% average savings (Jan 85.35%, Feb 82.23%, Mar 84.41%)||Exceeded Goal|
|Less than $1,400 required expenses||$1,372.94 average (Jan $1,304.19, Feb $1,500.33, Mar $1,314.30)||Exceeded Goal|
|Reduce Misc. Expenses by 15% (Exp. < $96.51 per mo)||$116.83||Needs Improvement|
|Reduce Restaurant Expenses by 10% (Exp. < $128.31 per mo)||$112.07||Exceeded Goal|
|Reduce Grocery Expenses by 5% (Exp. < $205.64 per mo)||$212.76||Needs Improvement|
Of my 5 budgeting goals I passed 3 thus far but need quite a bit of work on the other 2. I absolutely killed on my savings rate through the 1st quarter which is great because it will help to make up for months when my income is lower. I'm very pleased that my required expenses have come in less than $1,400 through the 1st quarter. I expected to be much closer but improving on my miscellaneous and grocery expenses will help 3 goals. I'm still disappointed with my total food bills averaging over $320 but a lot of that is due to the lack of synergies due to my job. Since I work out of town for extended periods of time I'm buying groceries and cooking for one instead of two and then usually take my wife out to a few restaurants when I'm home. My food and miscellaneous spending will be my biggest focus for the 2nd quarter and I hope to make much better progress than I did during the 1st quarter.
|$256,000+ Net Worth||$210,272.29 thru March (+$54,320.11)||On track|
|1 year emergency fund||5.86 month covered||Needs Improvement|
The first quarter was a perfect storm of events to kick off the new set of goals. Higher than normal income, a new crop of ESPP shares, profit sharing deposited to my 401k, and let's not forget the market being on FIRE!!! After the first quarter I'm 54% of the way towards my goal of a $100k increase. I wouldn't have expected that at all. The progress should slow down some as my income normalizes and the markets most likely cool off. If I can keep up solid progress through the 2nd quarter, I'll most likely revise the net worth goal upwards. My emergency fund actually took a bit of a hit in March due to some extra car maintenance expenses. I had most of it covered through savings specifically for the car, but it ended up being a little bit more. I keep going back and forth on whether I want to increase the emergency fund up to a full year or keep it around the 6 month mark. I'm leaning towards keeping it at the 6 month mark because a full year's worth of expenses being kept in cash or cash equivalents seems a little rash when the interest rates on savings accounts or CDs are as paltry as they are currently. At the 2nd quarter update I'll make any revisions to the net worth and emergency fund goals.
|Receive $2,750 in passive income (dividends, interest, option premium)||$621.39 received||Needs Improvement|
|3.00%+ YOC for FI portfolio||3.06% YOC (3.37% Non-ESPP YOC)||Exceed Goal|
|Forward 12-month dividends at $3,500 by end of year||$2,178.30 (62% of the way)||Needs Improvement|
|Surpass $250,000 in invested assets||$202,873.44 total value||Needs Improvement|
|Max out Roth IRA's for my wife and I||$0 contributed||Needs Improvement|
I've only passed one of my investing goals thus far but should be able to hit all of them by the end of the year. My dividends, interest, and option premium goal is on target to hit $2,485. I should be able to hit this through additional capital and more option premium received now that I've added margin and naked put selling to my account. I'm excited to be able to cross the 3.00% YOC level even when including my ESPP shares and that should go up as some of the ESPP shares end up getting called away and are then reinvested into higher yielding dividend growth stocks. If the markets don't pull back some through the dog days of summer I think I'll come up short on the 12-month forward dividends goal because I won't be making as many purchases. It's a shame but a reality when you're trying to get good value for your money. As you can see I haven't contributed to the Roth IRA's for either my wife or myself so far. With the potential to get a raise this year, we just might cross the MAGI threshold for 2013, although that's a good problem to have. I'll be waiting until the end of the year to make any contributions.
|Lose and keep off 20 lbs.||Lost 2 lbs||Needs Improvement|
|Workout 3 x per week||Averaging 0 workouts||Needs Improvement|
|13094 in March||Exceeded Goal|
|Monetize the blog||Work in Progress||Needs Improvement|
|Avg 2 stock analyses per month||Avg. 2 per month||On target|
|Quit smoking||--||Needs Improvement|
|Read 1 book per month||--||Needs Improvement|
The blog goals have been great so far. I'm averaging right at 2 stock analyses per month and I hope to push that up a little bit higher. I'm going to keep my goal at 2 for now because it takes quite a bit of time to compile the data and form a post around it. I have started to monetize the blog, although just through Adsense. The income isn't great, but through the first 3 months I've earned almost enough to cover the cost of the 3 year domain registration so I'm happy about that. I'll be looking into more routes for monetization but not very aggressively because I'm more focused on delivering solid content.
In order to try and grow Passive Income Pursuit I joined the Yakezie Challenge, The Div-Net, and the Money Crashers Top PF Blog ranks. The goal for the Yakezie Challenge is to get under 200,000 Alexa Rank. I started off at 18.3 million and have climbed up to a 361,953 rank. I know it's going to take a lot of work to try and get under the 200,000 mark but I still have 3 more months on the challenge. If you'd like to help me out please install the Alexa Toolbar in the browser of your choice. I also killed it on the pageviews and have already eclipsed this goal with 13,094 in March. I'm on track to pass that as well in April so things are really starting to come together here. I'm going to revise this goal up to 20,000 which will be hard to meet but gives me something lofty to aim for. I can't thank you all enough for stopping by and if there's anything you'd like to see covered here please feel free to leave a comment or email me.
My personal goals haven't gone nearly as well as the blogging goals. A lot that has to do with no day light on my time off. Once the time change happened though I started walking/running and doing some bodyweight exercises. I'm still well behind those goals but am focused on them and if I slip again during the 2nd quarter, please someone come find me and whoop me. I'm very disappointed with the reading goal as well, although a lot of my free time has been devoted to reading some of the other great blogs out there and developing content. This should change as I get my daily schedule better tuned. The goal I'm most disappointed with is the quit smoking. It's just a waste of money and is horrible for my health. It's been a stress reliever for so long that it's really hard to break the habit. I did okay with the goal and would quit smoking for a week or two and then go buy a pack and smoke for a week or two and alternating back and forth. This is the biggest of all my goal that I'm going to focus on in the 2nd quarter and I hope to be reporting much better progress in July.
Overall it was a pretty good 1st quarter for my 2013 goals. Almost all of the financial related goals are on track to be exceeded by the end of the year and I'm very excited about that. My personal goals have been the biggest disappointment thus far and will be focused on much more closely in the 2nd quarter. I'm trying to come up with some ways to keep me on track with these goals so feel free to leave any ideas in the comments.
How did you do on your goals in the first quarter of 2013? Any new goals for the 2nd quarter or keeping everything the same?