2017 Goals (incl. 2016 Goals Review)

2017 Goals (incl. 2016 Goals Review)

For the past couple of years, we have started setting goals for ourselves at the start of each year. This helps us to narrow down our priorities and focus on things that we believe are important. Without specific goals and a process of reviewing your progress, a week, month, year or longer can go by and leave you thinking “what have I achieved?” It’s not a great feeling and the best way that you can answer that question is by writing down what you want to achieve and then take steps needed to achieve it. To start off with, let’s review our goals from 2016.

Len’s 2016 Goals

  • Get 1 client for side business
    • DONE! – I beat this one as I got 2 new clients this year!
  • Create a marketing brochure, CV and capability statement for side business
    • DONE!
  • Do a quarterly blog for side business
    • FAIL – will have to try again next year
  • Develop a share tracking spreadsheet
    • DONE!
  • Buy second property in Australia
    • FAIL – we were on the verge of buying as we had pre-approval for a loan and were looking at properties, mainly around the greater Hobart region. However, I’m not convinced that this is best investment option that we currently have and we may repurpose our savings to the stock market in 2017. I’m still keen to add another property to our portfolio but with Australia’s housing bubble in full swing, the financials just don’t look that great. 

Score: 3/5 – not bad but I’m happy with these overall. I didn’t include all of my goals for 2016 here but will be more open with the goals for 2017.

Toon’s 2016 Goals

  • Earn min. $100/week
    • DONE! – Toon got a full-time job in September 2016 so she smashed this goal
  • Finish episode 1 of blog and publish online
    • DONE! – check it out here 
  • Finish Sabai Photography website and 1 client
    • DONE!
  • Get a part-time or full-time job
    • DONE!
  • Marketing for Sabai Photography (call clients etc.)
    • FAIL

 

Score: 5/5 – well, you can’t get any better than that!

 

 

And now, here are our goals for 2017:

 

 

Combined 2017 Goals

  • Publish 1 post/week for financialfarmers.com
  • Invest $2000/month into the share market
  • Share portfolio value to $25,000 (currently at $12,500)
  • Annual dividends to $1,000 (currently at $100)
  • Buy an investment property
  • Savings rate of 50%
  • Net worth to $500,000

 

Toon’s 2017 Goals

  • Get Ps (driver’s licence)
    • Toon got her Learner’s driving licence in 2016 and now needs to get to the next stage and get her Provisional licence which will allow her to drive our car without me in the passenger seat. Unfortunately, to get to that stage, I need to sit in the passenger seat and teach her how to drive. This is often scary!
  • Get 3 wedding photo shoots booked for Sabai Photography
  • Buy a  24-70mm lens and 6D camera body
    • Although this doesn’t sound very frugal, the main purpose of this goal is so that Toon can take better quality photos at weddings for her photography business.
  • Get to 50kg (currently at 59kg)
    • This is a tough one! We ate much healthier in 2016 (our grocery expenses took a hit) and exercised regularly. As a result, we both lost weight. We’ll aim to continue to lose a bit more weight to get to our optimum level.
  • Spend more time/do activities together on the weekend
    • Although this goal is hard to measure, it’s an important one. We both work full-time and travel long distances to and from work. Combine that with everything else in our lives and it’s sometimes hard to make time for quality time together. We did OK in the area in 2016 but can always do better and this goals helps us with that.
  • Call parents in Laos at least once every 2-3 weeks
  • Online marketing for Sabai Photography
    • Develop a newsletter, get up to 200 likes on the Facebook page, video campaign/promotion of work
  • Get a new job closer to home
  • Make $1,000 from AirBnB
    • Check out our place here – you’re welcome to come and stay!
  • Visit Laos and Japan

 

Len’s 2017 Goals

  • Get to 70kg (currently at 79kg)
  • Read 12 books this year
    • I’ve been setting a reading goal regularly and just as regularly missing it by a long way. I like reading but for some reason can never make enough time for it. I’m going to try a new strategy this year.
  • Attend a regular weekly sport besides gym and yoga
  • Meditate daily
  • Be able to do 50 push-ups at one time
  • Learn 50 new Lao words
  • Go camping 4 times this year to new places
  • Start Masters course
  • Side business to make $10,000 in revenue
  • Get 3 new clients for side business
  • Do a quarterly blog post for side business
  • Execute 1 options trade
  • Become a chartered engineer

 

 

What do you think of our goals? Are they similar to yours? We’d love to hear from you in the comments section below.

7 responses to “2017 Goals (incl. 2016 Goals Review)”

  1. Jef says:

    Wow you guys are going to be busy, I must say I’ve set some smaller ones (post coming up in the next few weeks) that will form habits plus there’s a big trip (6 months) for me in the pipeline, which makes it challenging to hit the financial ones..

    I’m not sure I agree on the housing bubble one, sure I probably wouldn’t be buying a million $ place in Sydney or other parts of Aus although I feel there’s plenty of value out there in places you mention i.e. Hobart although the fundamentals have to be correct

    All the best and thanks for sharing 🙂

    • Thanks for your comment, Jef and looking forward to reading about your 2017 goals. I’m interested in hearing your thoughts on the property market in Australia. I feel like it’s slim pickings in terms of finding a property that can generate any form of income (no capital gains). What areas are you looking at that have potential?

      • Jef says:

        Awesome and you’re welcome.. Must admit my goals possibly could be a lot more specific although there is some big travel plans coming up that will affect them..

        Agree on the lack of income from properties, unless you’re generally willing to sacrifice capital gains.. Unless you look at regional areas i.e. Broken Hill, down on NSW south coast or some parts of suburban Brisbane (these are the main areas I’m aware of) and aren’t advice :).. It really depends on your goal with property I suppose, in the longer term they can show some appreciation however unless you put a lot of cash down yields as you mention aren’t fantastic.. I see property as a way to build capital however will be generating the cash to invest in property through other means

  2. Congrats on a great 2016, I like all your goals, particularly your posting, dividends and savings rates goals 🙂

    Good luck with all of them, we’ll be following along and wishing you luck!

    Tristan

  3. It looks like a typo but Toon’s 2016 goals have 4 PASSES and 1 (green) ‘FAIL’ yet she earns a perfect score 😉

    Congrats on setting new goals for 2017 and looking forward to seeing a perfect score next year for both of you!

    Best wishes,
    -DL

  4. Freaking love the goals! I set a reading goal for myself as well this year and I’m pumped to see others doing it as well. Do you have any must read books this year??

    On a different note, your goals are diverse and will lead to a prosperous year regardless of the outcome. If you make progress towards this end game, amazing things are going to happen!

    Bert

  5. Thanks, Bert! I’m doing ok so far with the reading goal. Have finished The Help (highly recommend if you haven’t read it) and am now onto Clear and Present Danger.

    I’ve got a long list of books that I want to read. The problem is that list just keeps getting longer it seems. Have you got any book recommendations?

    I’m keen to read Fear and Loathing by Hunter s Thompson but that’s just one of many on the list. It really depends on what the library has on offer from my list as I’m not that into buying books.

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