goals · Goals Progress

2020 goals recap and setting 21(!) goals for 2021!

What a year it has been. Several things that one year ago I would not have held possible has happened. One year ago my biggest concern was the Australian forest fires. They just kept going and going. Proof of climate change was delivered! But that was without taking some unexpected events into account.

I know its been said 100 times already. Corona impacted all our lives and even our freedom. In my case it meant moving back from abroad to Belgium. I remember sitting on the trainride back and not realizing I would not return. I did return on a 1 week visa to clear out my apartment. I left my 90m2 2-bedroom apartment in Amsterdam and traded it for my one bedroom apartment in Gent of 55m2 that until then only sporadically visited. It became a home to me, my stuff from Amsterdam and on top of that my living room also suddenly became my office!

On the Finance side it meant saying goodbye to travel reimbursements I got giving a blow to my income.

After moving I also ended up being locked away here, as I was not even allowed to take the car to visit my family. Of course this is nothing new to you all, you were all in the same situation, and I fully understand why it was needed.

I would be lying if it all had negative sides. In fact I believe that thanks to this I had a chance to self reflect, sport move and improve my physical health.

I had to come back from living abroad to Belgium. I had to learn new hobby’s and find my way again, but generally I enjoyed that. I had a great summer here spending most of my free time at and on the sea. Even winter I enjoyed cycling trough forests, hills and winter landscapes.

But I can’t go around the negative side either. My goals were severely affected. Investments, saving rate, buying a house and even my sportive goals.

When looking at my financial goals then I can say I was not successful, at he same time I would not say that I failed either. The two law suit in peer to peer investments that ties me up will probably take a few years to round up. The rise in my ETF portfolio could not make up for this loss, so financially I must say it was not a good year.

But it was not that bad either. My losses are all in all limited, there is still a good chance to recover some funds by law suits, and the experience I had this year was priceless. I feel more confident then ever about my investments in the stock market.

Goals should be measurable so that was what I tried to do for the first time. I would say this was okay for a first attempt, but when making my goals I should pay more attention to what I can control more. For example instead of 5% better saving rate, a 5% cut on expenses might have been better.

Financial goals for 2020

In the end I achieved 2 goals fully, 1 half, and 2 I missed completely.

1. – 30.000 EUR invested in my ETF Portfolio

In the end this 30.000 became 18.000 which is still a lot. Actually a chunk of this came from transfers from my peer to peer portfolio to this. All in all I am satisfied with this goal as it probably was set a bit to high

2. – Passive income of 350 EUR per month

Initially I hoped to get some passive income from peer to peer investments. If not there I might have been able to buy a second home, and rent out my first apartment. Last but not least I could have rented out my couch during the Ghent City Festival, 10 days a year where touristic rental prices skyrocket.

All of this failed, and I have serious doubts I would set such a goal again, without having at least some passive income to begin with. At this point I even think passive income is not useful anyway. In all of the above it comes with extra hassle and is not fully passive.

3. – 5% higher saving rate then 2019

A very optimistic goal, and pre-corona I really believed I could make it, even without proper budgeting. In the end my saving rate ended 3% lower, but I did learn a lot about spending.

4. Buy off university years

It costed me 6000 EUR from my savings but I did accomplish this goal. And in 2021 I will be able to substract 3000 EUR of my taxes from this. Additionally this is really a needed goal to have financial freedom at an earlier age.

Remember if you didn’t do this yet you can still do this but not up to any age. The first 10 years you started working this will cost you the same as I paid. After that it will cost more every year.

5. – 1000 views / month on the blog

Not only did I managed to successfully complete this goal, I actually managed to get over a 1000 readers 9/12 months! It seemed like an impossible number when I started this blog.

This is all thanks to you guys! I am so grateful to the people who come here and support me just by reading this blog! I hope you will stay with me on our Roadtrip to Financial Independence!

Sportive goals

I also had a few sportive goals set. It included participating at some mountainbike tours in the Ardennes. All of these got canceled however so I could only complete 2/5 goals.

I was able to complete “Mountainbike 60km” and “Run for 10km”.

In sportive terms 2020 was a record year for me with almost 200 sportive hours logged on Strava. Mostly this was cycling but it also included running, spinning, gym, sailing and hiking. I do hope I can break this record in 2021! I plan to set some high goals for myself for 2021.

Setting 21(!) goals for 2021

I’m not going to make it easy for myself. With 20 goals for 2021 I am preparing to put new boundaries and test myself more then ever in the upcoming year!

As you know I love tracking, so I will be tracking these goals at my main goals page and I will update it regularly which I will announce in my portfolio blog.

Conclusion

To measure is to know. 2020 was my first attempt to set some goals, I think all in all I am quite happy with how I performed given the circumstances.

How was your year? What are your top 3 goals for 2021? Let me know in the comments bellow!

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Goals Progress

FIRE Goals Quarterly Update: Q1 2020

As usual I post an update of my quarterly goals. But it seems that just 3 months in my goals have been drastically affected. A collapse of a major platform in Peer to peer, other platforms at risk, the Corona virus closing shops and all events caused me to make forced or not some drastic decisions to my goals.

FIRE Goal 1: Passive Income vs Net worth

I want to revise this goal, as I am moving out of peer to peer lending, and my stocks are no dividend stocks due to tax reasons I feel that I should be focusing more on Net Worth rather then income. The only thing that could generate income now is real estate. So I will give it some thought and come up with a number that seems reasonable. But I really want to take my time for this, I just think its strange to put a number on this before you have bought a house that could see yourself living in for the rest of my life. On the one hand it needs to be something that I can actually achieve also. In general it should just be big enough to bridge the gap between my retirement age and the government pension I would get at 67.

FIRE Goal 2: retirement age

As a retirement age, I have set myself the conservative goal I want to have the option to retire before I reach 50. That does not mean I will retire, but it would be good to have the option. I will review this age when I am further down the line in Fire.

FIRE Goal 3: Buying a house

Right now there is no houses on the market due to Corona. I am still wondering how this will affect the prices and will probably do a separate blog about just this topic.

You can follow my house hunt in my blog. Check out the latest post here.

My goals for 2020

I had enough time to think about these

  • Invest 15000 EUR in ETFs (additionally) Has now become invest 30.000 extra in ETFs = 7500 EUR invested so far!
  • Invest 15000 EUR in p2p (additionally) I will be leaving peer to peer
  • Earn a passive income of 350 EUR / month (by December) (Before taxes) = This will become pretty impossible since I am leaving peer to peer. I leave it onthere for now though
  • 5% more saving rate then in 2019 (for the months where there is data) = So far I am doing worse due to a mix of extra costs and a drop in income due to Corona, however I am not giving up yet 🙂
  • Buy a house
  • Buy off university years (so they count as working years towards retirement age): this goal is coming over from 2018: YES I managed to do this, so this will make it much easier to retire earlier, as now the 4 years I studied at university count as working years towards the calculation of the height of my pension at 67!
  • It would be nice if this blog reached 1000 pageviews / month = This goal has been reached and it has been over 1000 views / month for 3 months in a row now

Sportive goals for Q2 2020

I wrote the following in the beginning of the year:

I started Mountainbiking in April 2019, and would like to continue to improve my skills there. There is a tour in the Ardennen called Rock d’Ardenne. Its quite a hilly region in Belgium. So far I drove almost only on reasonably flat pathways and fields, so it will be a challenge to have bigger altitude differences. It takes places in the beginning of May. The pack I would be interested in is 90km spread over 3 days. I currently do about 50km on a flat surface most Sundays, so it would be slightly more challenging then what I did so far. Some more tours I am interested in If I complete it successfully I will be looking into more tours later on the year! I already have a few more in mind.

But due to Corona all mountainbike tours are canceled! 😦 That means unless the tour I had in mind bellow is postponed I will not be meeting this goal. But I can still make my goal of doing 60km with a mountainbike. Last weekend I went for a 50KM drive so I am getting quite close to make this goal and feel confident I will, most likely in the next quarter!

Since I can no longer pursue most of my usual activities mid-week, I have also picked up running as a sport, and am coming close to the benchmark of running 5km! As a goal for now I want to be able to run 10km by the time Corona is over!

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Goals Progress · Uncategorized

New 2020 Goals: out with the old in with the new| January update

FIRE Goal 1: Passive Income

Passive income Milestone 1: 1270 EUR

The first goal I am setting myself is to get a passive income of 1270 EUR. I am well aware this is a high goal I set for myself. But its rather symbolic. 1270 EUR was my very first wage after graduation. If I could get this again, even before inflation, it means I have reached a stage where I could maintain myself without working

My max in 2019 was 230 EUR (before taxes), unfortunately in December I had a slight bump in the road because of Kuetzal troubles. But I feel that 2020 will really put me on track to reach this goal!

Passive income Milestone 2: 2700 EUR

The second goal I have is much higher. 2700 EUR would allow me to have a car, and pay off a loan for a house.

Passive income Milestone 3: 4200 EUR

The last goal I have is 4200. Should I ever reach this I will know for sure I never “have” to work anymore. It would allow me to never have to worry about money, and spend whatever I like (within reason of a normal life), travel as much as I like, wherever I like, do whatever hobby I like to do and still have money left to raise a family if needed.

Fire Goal 2: retirement age

As a retirement age, I have set myself the conservative goal I want to have the option to retire before I reach 50. That does not mean I will retire, but it would be good to have the option. I will review this age when I am further down the line in Fire.

Fire Goal 3: Buying a house

I know a lot of people who are going for Fire, do not buy a house. For me its really important to have a house anyway. At the same time, I do not feel rushed. I live in an apartment right now, and since I am convinced about Fire, I feel I can wait much longer to buy a house, and do not need to put myself into a lot of debt right now.

You can follow my house hunt in my blog. Check out the latest post here.

Goals by end 2019

With 2019 being over, I can say that I met 3/5 goals

Goals I met:

  • 25.000 EUR invested in peer to peer lending (total): with 26.000 EUR invested I met this goal quite easily
  • Make 5500 EUR in 2019 (Investment returns – unrealized + passive income): very challenging to measure. So I will not mention this goal for next year anymore. That I made this goal was mostly thanks to a huge surge on the stock market, and a lucky investments in the stock called Galapagos.
  • Earn a passive income of 100 EUR / month (by December): with the Kuezal troubles this goal got really close to failing, but right now it looks even after I withdraw the expected losses I will be able to meet this goal

Goals I did not meet:

  • 4350 EUR extra invested in ETFs: I did not make it, I only invested 84% of this. I do have an extra 750 EUR on my investors bank account ready to invest, but I always invest in packs of 2500 EUR as this has the optimal investment fee.
  • Buy off university years (so they count as working years towards retirement age): I started the process in August, but it did not finish this year. The Belgian administration got so many requests that they are not able to meet demands in time. The status of my request did change this month to “processing”.

My goals for 2020

I had enough time to think about these

  • Invest 15000 EUR in ETFs (additionally)
  • Invest 15000 EUR in p2p (additionally)
  • Earn a passive income of 350 EUR / month (by December) (Before taxes)
  • 5% more saving rate then in 2019 (for the months where there is data)
  • Buy a house
  • Buy off university years (so they count as working years towards retirement age): this goal is coming over from 2018
  • It would be nice if this blog reached 1000 pageviews / month (currently at above 400), its been going up slightly every month so I believe its possible!

Sportive goals for Q2 2020

I started Mountainbiking in April 2019, and would like to continue to improve my skills there. There is a tour in the Ardennen called Rock d’Ardenne. Its quite a hilly region in Belgium. So far I drove almost only on reasonably flat pathways and fields, so it will be a challenge to have bigger altitude differences. It takes places in the beginning of May. The pack I would be interested in is 90km spread over 3 days. I currently do about 50km on a flat surface most Sundays, so it would be slightly more challenging then what I did so far. Some more tours I am interested in If I complete it successfully I will be looking into more tours later on the year! I already have a few more in mind.

Friends also suggested to participate to a Triathlon in June. I am not sure yet how serious they were. I did not decide yet if I would join, I love to bicycle, I am not sure about running or swimming.

Final note

I believe these are all goals that can be achieved based on the current year. Its possible that I modify these goals slightly depending of the situation, but based on my current situation this is a good guesstimate.

Happy new year all!

Uncategorized

My Fire goals redefined | September 2019 update

Fire Goal 1: Passive Income

Passive income Milestone 1: 1270 EUR

The first goal I am setting myself is to get a passive income of 1270 EUR. I am well aware this is a high goal I set for myself. But its rather symbolic. 1270 EUR was my very first wage after graduation. If I could get this again, even before inflation, it means I have reached a stage where I could maintain myself without working

Passive income Milestone 2: 2700 EUR

The second goal I have is much higher. 2700 EUR would allow me to have a car, and pay off a loan for a house.

Passive income Milestone 3: 4200 EUR

The last goal I have is 4200. Should I ever reach this I will know for sure I never “have” to work anymore. It would allow me to never have to worry about money, and spend whatever I like (within reason of a normal life), travel as much as I like, wherever I like, do whatever hobby I like to do and still have money left to raise a family if needed.

Fire Goal 2: retirement age

As a retirement age, I have set myself the conservative goal I want to have the option to retire before I reach 50. That does not mean I will retire, but it would be good to have the option. I will review this age when I am further down the line in Fire.

I will review this age next year when I have a better view on the rise of my passive income.

Fire Goal 3: Buying a house

Status: todo

I know a lot of people who are going for Fire, do not buy a house. For me its really important to have a house anyway. At the same time, I do not feel rushed. I live in an apartment right now, and since I am convinced about Fire, I feel I can wait much longer to buy a house, and do not need to put myself into a lot of debt right now.

Goals by end 2019

Ok 2019 is almost over but still I wanted to set myself a few reasonable goals

  • 4350 EUR extra invested in ETFs
  • 25.000 EUR invested in peer to peer lending (total)
  • Buy off university years (so they count as working years towards retirement age)
  • Make 5500 EUR in 2019 (Investment returns – unrealized + passive income)
  • Earn a passive income of 100 EUR / month (by December)

Goals by end 2020

I am still thinking a lot about these goals, and I might still change them near the end of the year, but the bellow goals do seem reasonable:

  • Invest 12000 EUR in ETFs (additionally)
  • Invest 18000 EUR in p2p (additionally)
  • Invest 1200 EUR in startups
  • Make 7000 EUR in 2020 (Investment returns – unrealized + passive income)
  • Earn a passive income of 300 EUR / month (by December)
  • Earn 500 EUR with Airbnb
  • Make 1 EUR from this blog
  • 3% more saving rate then in 2019 (for the months where there is data)

Goals Progress

Goals progress August 2019 – First update – FIRE

Since this is the very first update, it is not a quarterly update, but it is a first status of where I am currently. I set myself some goals for 2019 that I believe are not impossible to make

Main goals

  • Increase passive income
  • Increase Savings rate (slightly)
  • Get more structural passive income
  • Diversify

Passive income

What is included to make passive income?

  • Tax Returns on investments: I doubted to put this in or not, but it really should count as ROI, although its not pretty constant. Its a one time only payment
  • Returns on stocks (after taxes) – only actual realized return
  • Dividends on Stocks
  • Funds (unrealized return) – (YTD)

What is excluded?

  • Retirement funds (since they will be unrealized until 2049… )
  • Interests on savings accounts (so small that I don’t bother to check)

Savings rate

This is a really hard one to tackle since I have a lot of business expenses. This is making it hard to estimate my savings rate. But I did put an estimated guess here. I would say as long as it is above 70% I am happy.

Structural changes goals

  • Purchasing a house: this would allow me to rent out my current apartment and maybe earn a little bit extra on Airbnb rentals. It would also give me a more structural income
  • Increase investements on SP500 and Divident stocks

Goals by end 2020

Based on the above I set myself the following goals to reach by the end of 2020. If I reach all the goals I will reach my goal to have a passive income of 750 EUR/Month by the end of 2020

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