Ahhh! Making goals only in february seems like slacking right? Right…
Let me explain here some of our 2020 goals and how did they go in 2019.
Savings rate at 30%
In 2019 we achieved 24% savings rate. Summing all our income recorded (since August) and subtracting all our expenses we got ~5k saved for 5 months. This accounts for an average of saving 1k per month.
We think we can do better!
For 2020 we would like that this value increases to 1.4k per month in average. For the sake of simplification i’ve assumed we maintained the same income and saving 1.4k would mean 30% savings rate. This is a percentage we feel confortable with.
Increase networth in 10%
In 2019 our Networth increased 114% (+ 211 679,78 €) which was a huge bump. The reason for this was we got married and joined our assets.
I’ve been tracking my Networh individually since 2011 and as you can see there as been a nice rise! I’ve been tracking this since i was 23 years old and started working full-time 2 years before (in 2011). The increase either means i was very poor at the time or i’ve been saving and investing properly. My wage also grew dramatically (thankfully!) over this years.
To be honest i think i already had a good headstart since i dont know much 23 years old Portuguese with a Networth of 19k. And i had alredy bought my car which i valued at ~14k. Meaning when i was 23Y i had ~5k in liquid assets. Yay!
Coming back to topic….
Using currently our forescast for growth i would expect a rise in our networth of ~5%, this would mean 22k. To achieve this value i would use the % i expect our ETF portfolio to grow, what we would save yearly, what P2P returns would be, etc.
Nonetheless, i believe we could go to a higher number of around 39k growth, meaning 10% increase. (+39k).
Starting a company and having revenue of at least 10k
I’m currently in 2 partnerships, one of them already started last year which i will be formalizing soon by creating a company with a business partner. I’m quite confident we would be able to generate significant influx from this endeavor (>50k) at least. Nonetheless, lets be conservative. It’s my first company and i would like to have some activity at least.
Find a new property to invest (Optional)
I’m not making a hard deadline for this. We have still+3Y to invest the proceedings from our apartment sale and if the market doesnt retract soon we are willing to wait more time.
Remodel the farm houses
In 2020 we would like to remodel and have usable our 2 farm houses. Or at least one of them so that we can finally start making use of our farm.
Maintenance primary house
Currently we have several things still to be done on the building we have our primary residence. This involves some work on the roof of the building (on going) but also other things like starting repairments on the facade. We live in a 1900’s building with 2 more tenants and every step takes a toon of time and effort. Making budgets for repairments, sending it to companies that execute this work, having them either not replying or coming and never sending a budget (yes, this happens in Portugal! Angry face).
If i could sum-up our objectives for 2020 it would be having the lateral facade repaired.