Dividend Independence - 2021 Goals

We can finally leave the year 2020 behind us. A year to quickly forget, let's hope 2021 has some better news in store for us. But it's also the year I started with my dividend/passive income portfolio. And oh boy, the feeling  you get seeing those dividends role in is indescribable. To get the year off to a good start I would like to write down some new year's resolutions. I write these down to challenge myself and I'm able to reflect on these at the end of te year on how it went. 

1. Increase my passive income to 450 euros:

The first one is already a hard one. Last year I got a little more then 300 euros in passive income. This goal will mainly depend on the banks paying a dividend or not in 2021. I have quite some financial players in my portfolio and they were not allowed to pay a dividend last year form the European Central Bank (ECB). To accomplish this goal I'm going to reinvest all off the dividends I receive and contribute 200 euros eacht month into my stock portfolio. 

2. Deposit the maximum amount in my retirement account:

In Belgium we can annualy deposit 990 euros in our retirement account. I'm doing this on a monthly basis, so each month I will deposit 82,50 euros into my retirement account. Our government encourages this for tax purposes. We can recover 30% of the deposited amount through our tax return. 

3. Increase the amout of cash to 10% of my net worth:

Last year during the dip in march/april I almost put all of my cash reserve in the market to take advantage of this opportunity. Some cash on the sideline will be very handy for upcoming oppertunies. But the main reason that I would like to have a certain amout of cash aside are some upcoming family events.  In may me and my fiance will welcome our first child. Next year we are getting maried. And in the upcoming years we will be looking for a new, bigger house. So yeah, we will need some cash the upcoming years. :D 

4. Increase my net worth to 70.000 euros:

Last year my net worth ended just shy of 55.000 euros. I'm planning to reach this goal by paying off our mortgage on or primary residence. Depositing money in my dividend portfolio/riterement account and putting aside 200 euros in my funds each month. 

5. Write at least 30 blog posts this year:

Last year I didn't find the time to work on this blog. I just promoted to a new position and had to start over by learning all the new things. This year however I would like to write at least 30 blog posts. (I'm hoping it will be more). Each month I will give you guys and girls an update of the dividend income and my net worth. 

Let us ring in the new year. Hopefully a year with lots of positive changes! 

See you on my next post!