|80% take-home pay savings rate||81.31% average savings (Jan 85.35%, Feb 82.23%, Mar 84.41%, Apr 84.18%, May 81.40%, June 77.71%, July 79.71%, Aug 86.60%, Sept 84.49%, Oct 81.04%, Nov 78.82%, Dec 69.72%)||Success|
|Less than $1,400 required expenses||$1,616.73 average (Jan $1,304.19, Feb $1,500.33, Mar $1,314.30, Apr $1,361.56, May $1,399.65, Jun $1,442.76, July $1,454.40, Aug $1,489.46, Sept $1,640.97, Oct $1,595.79, Nov $2,351.98, Dec $2,545.32)||Failed|
|Reduce Misc. Expenses by 15% (Exp. < $96.51 per mo)||$120.22||Failed|
|Reduce Restaurant Expenses by 10% (Exp. < $128.31 per mo)||$119.16||Success|
|Reduce Grocery Expenses by 5% (Exp. < $205.64 per mo)||$225.89||Failed|
Well, my budgeting goals had some good success as well as some failures. My savings rate hit my target with a bit extra to spare although December saw a big drop in the savings rate from a lower income and higher expenses. If you look at the required expenses, you can easily see when we purchased our house. That increased my average monthly expenses by quite a significant margin but some of that will be coming down once we get some debt from the furniture paid off. I failed miserably on my minimum expenses goal, though. Even if you back out the housing expenses the trend was higher for the most part. I shouldn't be spending nearly as much as I do on food. A combined $344 between restaurants and grocery expenses is horrible considering that I'm buying mostly for myself. I'm a bit too loose on food and that's going to be remaining one of my focus areas in 2014. The biggest way for me to cut those costs is to rely less on convenience foods because they are horrible when it comes to price per meal and aren't exactly the healthiest.
$306,000+ Net Worth
|$320,114.22 (+$164,162.04)||Big Success|
My original goal was for a $100k increase to $256k for my net worth. Yeah, I blew that one out of the water a bit and ended at just over $320k. The markets had a huge run during 2013 which helped to spur my net worth ever higher. I had to revise my goal higher 2 different times during the year, which is never a bad thing, and still passed that by a big margin. With the increase in the markets and my after tax savings, I was able to average over a $13,650 monthly increase. I didn't see that one coming. 2014's net worth goal is going to be hard to predict because certainly the markets won't follow up with another 30% increase.
|Receive $2,750 in passive income (dividends, interest, option premium)||$3,696.93 received ($2,546.79, dividends, $41.77 interest, $1,108.37 options)||Big Success|
|3.00%+ YOC for FI portfolio||3.50% YOC||Big Success|
|Forward 12-month dividends at $3,500 by end of year||$3,597.64||Success|
|Surpass $250,000 in invested assets||$261,488.17 total value||Success|
|Max out Roth IRA's for my wife and I||$0 contributed||Failed|
The investing goals were essentially a resounding success across the board. Total passive income for the year almost exceeded my target by $1,000 thanks to my option income. I didn't really have an idea of what to expect from options as it was my first year to really pursue that as an additional income source, but combining options as well as margin for selling naked puts really helped me to add some income. I almost reached my goal through dividends alone which I'm quite happy about. I was able to significantly increase the YOC for my portfolio from 2.88% at the end of 2012 to 3.50% by being more selective with my entry yields, as well as the organic dividend growth and adding some higher yielding REITs in the second half of the year. My forward 12-month dividends were pretty much right on track throughout the year, which I was hoping to increase those a bit more, but a win is a win. The only failure on the investing front was maxing out Roth IRA's for my wife and I. We were amazingly above the MAGI threshold so we couldn't contribute directly to a Roth and due to my rollover IRA going the backdoor route would have created more taxes to be paid. This goal was pretty much shot from about the halfway mark of 2013 but I was hoping to be able to contribute to them. Overall though I was very happy with my investing goals and where I ended up.
|Gained 8 lbs||Failed miserably|
|Workout 3 x per week||Averaging 0 workouts||Failed Miserably|
|31,927 in December (27,012 avg. for 4th quarter, 18,440 avg. for 2013)||Big Success|
|Monetize the blog||$120.90 in paid Adsense earnings ($102.20 unpaid)||Success|
|Avg 2 stock analyses per month||1.92 average (23 total reports)||Slight Failure|
|Quit smoking||Oooops!||Failed miserably|
|Read 1 book per month||Ooops again!||Failed Miserably|
Um....yeah. About these personal goals. These are not the droids you're looking for. It was a horrible failure on pretty much every single personal goal that I set. But I've already started doing much better towards the weight loss goals for 2014 and I did the sacreligious personal finance move and joined a gym. So far I've used it quite often and even used it while I was home. I expect 2014 to be much better on this front, since 2013 was a resounding failure there's not much else to do but improve. No more excuses here. I also failed to quit smoking. I did much better in the second half of the year and would go a week or two without smoking and then pick it back up. But I'm doing better so far in 2014 now that I've started working out on a more regular basis. And thanks to all of you writing your own great content, you made me completely fail on my read one book per month goal. At least I was still reading/learning though. If you add up all of the reading I did online through blogs and news sources, it probably added up to somewhere in the neighborhood of 4 books per month.
The blog goals went much better than my personal goals and were a success for the most part. I had to revise my monthly pageviews target higher earlier the year, which is just fine by me. I can't thank all of you enough for continuing to stop by and check in on how things are doing and what I'm thinking. Several of you even started your own blog throughout the year and I always enjoy getting to see what the new guy has in store. I was able to monetize Passive-Income-Pursuit but it was only through Adsense and the conversion rates just aren't all that great. Things have gotten better as the traffic has picked up, but I'm not going to count on Adsense to be a significant contributor. For 2014 though I do want to expand into some other monetization methods so we'll see how that goes. I almost hit my stock analysis target but came up 1 short. Honestly I'm a bit disappointed on this one as I thought that I'd beat it by at least a few. I'm compiled the data on a lot of companies, but the most time consuming part is going through and actually writing the posts up. I hope to be much more consistent with this in 2014 as there were stretches where I'd go a month or so without posting one and then knock out 2-3 in a 2 week span.
All in all 2013 was a pretty big success, even though I only met or exceeded 9 of my 17 goals for the year. There's still some expenses that I need to cut down on as far as budgeting, namely food expenses, but I'm happy with the progress I was able to make on my goals as a whole. 2013 was such a great year and I can't wait to see how 2014 ends up. I hope you all had a great 2013 and have an even better 2014.
How did you do on your goals so far in 2013? What's your number one goal for 2014?