Today I am procrastinating from my intermediate accounting course work and throwing a quick little update on the blog instead. Appropriate, right? Same area of expertise, sort of!
I only have two goals for 2019, more detail can be found in my February post on the topic.
Numbero uno: I aimed to increase my NW to $220,000, this is a $38,000 increase and
Numero dos: monthly passive income increase from $273 to $385/month.
Both goals have really come along swimmingly. A snapshot of all my accounts shows I’ve made progress of $9,804.06 and increased my NW to $191,944.10 which is approximately 25% of my networth increase goal for the year of $38k… exactly on target for the first quarter. 🙂
My passive income has also increased, actually primarily because I made some investments before the RSP deadlines which I hadn’t considered when I set my goal for monthly passive income for the year… I also neglected to account for a $16,000 loan to my company that is earning interest.
With those items added in and the new additions to my portfolio I’ve rather easily surpassed my goal of $385 for the year.
It seemed like a rather large gap to add over $100 in monthly passive income at first, that’s over $38,000 invested in something like ZAG which would generate a dividend of about $100 a month.
If I achieve my networth and savings goals – another $28,000 added orso by the end of 2019, I’ll be able to add another $75 in passive income for a total of $467/month in passive income. That’s rather optimistic though given that we are closing the family cleaning business and I’ll be down to some rather meagre income for a while haha… time will tell.
What gains or losses have you made recently? Love to hear your comments below!