Objectives Review: May 2016

As promised in my previous article, this is the first 'technical' post in which I want to review my 2016 objectives.
You can find the up-to-date objectives here. As you would imagine, all of them have got an end date of 31 Dec 2016.

I think it is very important to set clear objectives for ourselves, as well as keep monitoring the progress. The entire process provides a great opportunity to grow as individuals and to understand if we are in control of our finances.




1. Generate $1500 in passive income (projected over 12 months)

This is one I like, as it's difficult to achieve. Last year I failed my 2015 objective, but this year I'll work much harder to achieve my goal.

Objective #1

As shown above, H1 2016 looks in line with target. I am now focussing my attention to try to achieve the objective for Q3, which would give me the opportunity to get very close to my ambitious objective by year end.


2. Increase my net worth by over 50%

At the end of 2015 my net worth was £25,143. When I set the goal for 2016 I thought I could make it very aggressive, by aiming to increase it by 50% (to £37,730).

Objective #2

As shown above, at £39,990 the objective is already achieved with many months to go before the end of the year! I am now thinking to obviously revise this to reflect the great progress made.


3. Save in excess of £2,500 each and every quarter of 2016

Objective #3

It would appear that I am doing great on this one too. Solid saving rate, I can easily see my goal achieved in Q4 as well.


4. Save more than £10,000 in calendar year 2016

Objective #4

The objective is already achieved (as of end of May). I will definitely revise this one (as well as no. 2).

I couldn't be more pleased with the results achieved so far. As mentioned before, I will definitely update my objectives no. 2 and 4. I will let you know what the new numbers are.

Hopefully this article will prove useful and be of inspiration.

Yours,

The Gentleman Investor