Tuesday, January 30, 2024
Tuesday, January 23, 2024
As I'm writing this blog post on January 17th, it's hard to believe that there are just two weeks left in this month. The low temperatures here in Central Wisconsin are set to remain in the negative Fahrenheit territory, although not as bad as the -30 with wind chill that we have been experiencing. Fortunately, in a few days, the low temperatures will reach into the upper 20s with highs getting above freezing.
With that aside, now is time to set my new financial and personal goals for 2024.
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My Financial Goals For 2024
1. Generate at least 20% growth in net dividends collected
In the last few years, my net dividends have routinely grown by 40% or more. However, I believe this will be coming to an end in 2024. That's because aside from having less capital to invest than in the last couple of years, my portfolio base is making it more difficult to post these types of growth rates.
Fortunately, I still think a 20% growth rate is doable. Off the top, my organic growth should come in around 10% from dividend reinvestment and dividend growth. I figure another 10% dividend growth from capital deployment is reasonable and gives me flexibility to be more qualitative (e.g., lower yield and higher growth prospects) with my dividend stock purchases.
2. Grow net annual forward dividends by 20% by the end of the year
Similar to my first goal, I am aiming for 20% growth in my net annual forward dividends heading into 2025. For the reasons that I already discussed in my previous goal, I think that this will also be a doable goal.
Personal Goals For 2024
1. Jog At Least 10 Miles A Week
As the weather has become more unfavorable in recent months, I have shifted my exercise routine to the indoors. I have enjoyed jogging on the treadmill these last couple of months and plan on continuing to do this throughout the year. As the weather warms up, I will spend more time outside. However, I intend to stick with my routine on the treadmill moving forward in lieu of exercise in the outdoors.
2. Lift Weights At Least Four Times A Week
Since November, I have been lifting weights. Given my 5'8'' and 125 pound frame, I started out doing at least two sets of 10 reps of various exercises with eight pound weights four times a week. As the year comes to a close, I would like to work my way up to doing the same amount of sets and reps with 15 pound weights.
3. Publish A Blog Post Each Week
As I have done for nearly five and a half years now, I plan on continuing to publish a post to this blog each week. I enjoy updating readers on my progress with dividend growth investing to demonstrate the power of the strategy in real time, so this is a goal I envision running back year after year.
Overall, I am excited to see what the new year brings. In recent months, I have been clearing what I view as dead weight out of my portfolio. Also, I look forward to likely resuming capital deployment in just a few more weeks and further improving on the quality of my portfolio. Fitness-wise, I enjoy the grind of the everyday routine of remaining active and am eager to continue this in 2024.
What are your goals for 2024?
Do you believe any of your goals are going to be more challenging to accomplish than any others?
I appreciate your readership and welcome your comments below!
Tuesday, January 16, 2024
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