My financial goals

I want to write a post updating how my thoughts may have changed on all the topics I have written about in my past blog posts.  I am always learning and finding out new information so some of my opinions may have changed.  First though I want to give context to my thoughts by describing what my financial goals are for my portfolio.

They say money can’t buy happiness, but I think that is just because people in general are not very good at spending it. Not everyone can turn flour, yeast, salt and water into a delicious baguette but that doesn’t mean that it is not possible.  You just have to be good at baking. I think the same applies to spending money. Thinking about spending money I’ve come to the conclusion that the most valuable thing I can buy for myself is time.  You may not have thought of time as a commodity that you can buy, but it is. When you work at a job you are in essence selling your time for money.  The same logic can be applied in reverse.

In my personal life I have a lot of goals and hobbies.  Some of these require me to spend money, but most simply require the time to do them. So my goal over the next couple of years is to reach a certain milestone of dividends earned per month that I feel I can afford to move to a four day week at my job. I love my job and want to keep on doing it, but balance is important. The weekends will be for family, but that weekday I get off will be for me to work on the things I love to do.

To accomplish my goal I am re-arranging my portfolio away from simply maximizing returns to trying to get a stream of steady dividend income. Ideally I want to find a group of dividend paying investments I can buy at a good value operating in industries that I like and that I believe I can hold for the rest of my life.  I am aiming on having an average yield on my portfolio of about 6% which should allow my to accomplish my goal in 2 to 3 years.  I feel this is very much within reach and am excited to work towards it.

4 thoughts on “My financial goals

    1. I was thinking of making posts on this blog on some of my hobbies that can also be a way to save money. The batch of mead (honey wine) I made was delicious and only cost about $3 a bottle to make. Posts about things like that though would require lots of pre-planing as I would need to document each step I do.

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