Sunday, January 3, 2021

2020 Financial Independence Goals review

 This extraordinary year came to the end.  My portfolio went up by 15%.

Financial goals:

- Save 20% on the income - Accumulate $25 K a year and invest it either in one of the existing funds or new one. – This goal is only partially complete. I accumulated $24 K but not invested. The markets are all time high, so it is no point to invest it now. I have not selected where I want to invest them.



- Develop additional income source in full, potential reward about $2,000 a year. Target sites to be developed in full this year.  This is “make it or break it”. If I am not able to do this year, I will wind down niche sites and focus elsewhere.  My personal preference is to make it, despite disproportionate amount of time I might spent. – This did not happen. The main financial independence site generated some income. However, combined niche sites did not reach $2K a year. I need to re-focus the time elsewhere.



- Regular monthly updates. – This complete.

- To cover 6 themes on financial independence, including mortgage one.   This goal is complete. Networth change past 10 years,  Mutual funds spreading, The rich vs. Poor, Junior ISA, Market Charges, Dividend Aristocrats,  Four percent rule.



- Read 12 books from the list.  Read only two. One of them is Enough by John Bogle.

- Publish the books reviews.  Complete for the books that I read.

- Corporate finances to study in detail. – This did not occur.


- Be happy.  Run 1,000 miles during the year. BMI at 26.3 by December. Loose 2.5 pounds a month. – Ran only 240 miles. I thought that last year with 253 miles the lowest possible one.


What are your 2020 goals? Is it something you recommend I do more or stop doing?

 I need to think how to make this year goals smarter and to make sure that I will complete them.  How was your year and the goals achievements?


  1. I managed to meet several of my goals last year (regular savings into retirement savings and a small amount outside of retirement accounts, progress with my masters in financial planning) but failed miserably at others (gained back a lot of excess weight and didn't do as much exercise as I wanted, didn't make progress with a couple of specialist financial planning courses I'm enrolled in outside of the masters degree, and didn't manage to find any clients for my financial planning business). I can blame my failures on the effects of Covid-19 lockdowns etc. but I probably could have still achieved them if I'd put my mind to it. Hopefully this year will be more 'normal' and it will be easier to go to the gym, meet potential clients in person etc.

    In terms of your goals I'd suggest ones like 'read 12 books from the list' for a whole year are likely to fail due to procrastination. I'd suggest put the 12 books in order from most to least interesting, and set one specific book to read each month. The first few months the books should be fun to read, which will help your get into the habit. Depending on your reading style you might achieve the reading goal doing a block of several hours each weekend, or maybe half an hour each morning when you get up.

  2. Hello EnoughWealth,

    Thank you for sharing your goals and outcome for 2020. As they say: shot for the stars and you will reach the moon. At least savings and the masters degree were success. This is a great achievement.

    I really like your recommendation with the books. I will try it, as I am now in the third months of the year and still find valid excuses not to read them again!