It's hard to believe, but there is just a day left in 2022 at the time of my writing this blog post. And with the high temperature set to be just below freezing today, it really doesn't feel like late-December here in Central Wisconsin.
At any rate, now is as good of a time as any to look ahead to my personal and financial goals for 2023. Without further ado, here goes.
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My Financial Goals for 2023
1. Collect at least $4,200 in net dividends
The first financial goal that I have for 2023 is to receive at least $4,200 in net dividends. Since I cleared more than $2,800 in net dividends in 2022 (spoiler alert for the next blog post of this series), I think this is a doable goal. This is because investing around $40,000 at a 3.5% net dividend yield adds $1,400 in net dividends alone (depending on the timing of the investments), not counting dividend raises.
2. End the year with net annual forward dividends of at least $5,000
My next financial goal for next year is to end the year with net annual forward dividends at or above $5,000. Given that I am going to begin 2023 with net annual forward dividends of around $3,354, I would only need to boost my portfolio's income by $1,646. If I can achieve my reasonable goal of investing $40,000 (via both fresh capital and dividend reinvestment) during the year, I should be very close to accomplishing this goal with dividend hikes considered.
3. Top $135,000 in investments and $150,000 in net worth
The final financial goal that I have for 2023 is to surpass $135,000 in investments and $150,000 in net worth by the end of the year. Depending upon what the markets do today (Friday, December 30), my investments will be worth approximately $93,000 heading into 2023 and my net worth will be about $107,000. Simply reaching my goal of investing $40,000 for the year will get me very close to attaining this goal.
My Personal Goals for 2023
1. Publish at least 450 articles for Motley Fool
My first personal goal for next year is to get a minimum of 450 articles published over at The Motley Fool. This averages out to a bit less than nine articles a week, assuming one week of vacation a year that I have yet to ever really take. With my additional computer monitor that I recently purchased, my productivity has meaningfully increased. That makes this goal pretty manageable in my opinion.
2. Publish one Seeking Alpha article each month
The next personal goal that I have for 2023 is to publish one Seeking Alpha article each month. Back in July, I made a decision that would go into effect in August that I would cut back my Seeking Alpha production from one article a week to one a month. That's because the pay wasn't quite on par with Motley Fool since I was typically covering underappreciated and underfollowed stocks when writing on a weekly basis. Since I have switched to a monthly basis, I can write about the more followed stocks and make pay that is more even with Motley Fool.
I don't envision ever stopping writing for Seeking Alpha since they are what got me into the game of paid writing. SA was the bridge between my blog and ultimately Motley Fool, so I am forever grateful for the platform.
3. Publish at least one blog post each week
My final personal goal for next year is to keep publishing one blog post here each week. As my post linked to in the prior subhead discusses, I may not have ever been on Seeking Alpha or Motley Fool without first starting this blog. I owe much of my life to this venture, so I am very glad that I started it.
2022 has been an exciting year overall. It was my first full year of writing for Motley Fool. Needless to say, I'm stoked to keep pushing on in 2023!
What are your goals for 2023?
Do you expect any of your goals to be more difficult to attain than all the others?
Thanks for reading and I welcome your comments below. Best of luck to everyone on achieving their goals in 2023!
Those are some solid goals for you Kody. It's still amazing how much you have time on your side and where you're at already. Another 5-10 years from now and it's going to be eye popping.ReplyDelete
That's a really hefty writing goal for this year. I typically try to aim for 1 article per week on SA and then as needed for the blog, but depending on how things go in 2023 some of that could slow down. We've got a few other much higher return opportunities that we're exploring but unfortunately they would be a much bigger time commitment. All the best in the new year.
Thanks for the comment. It should certainly be an exciting year. Best of luck on your higher return opportunities that you're considering for this year!ReplyDelete