Setting New Goals for 2022

The new year is almost here and I am now officially setting new goals for 2022! It was around this time last year I posted my goals for 2021 (results I will post next month). I am going to follow the same system of goals setting that I used the past few years. It is a system with multiple tiers with the highest bar being the top prize. This I have done for both dividend income and stock purchases using bronze, silver, and gold trophies and medals to represent different tiers. I found this to be fun, exciting, interesting, and motivating.

Before we begin, as of this post, my portfolio is comprised of 49 stocks and is set to generate $12,126 in dividend income over the next 12 months. So, that is the starting point from which I was launch my 2022 financial goals. The time clock for these goals will begin January 1, 2022 and end on December 31, 2022.

However, there is still the big unknown that is coming mid-2022 that I am trying to take into consideration. Namely, the T cut that will happen mid-year. We don’t know how much exactly the cut will be, but I am expecting to have my dividends from T at least halved for a loss of about $481 in dividend income. Ouch. Nevertheless, I do plan on setting some ambitious goals for the year.

So, now let us begin. For 2022 forward dividend income, I will use bronze, silver, and gold trophies to represent each goal achieved. Each trophy is an achievement based on breaking a set forward dividend mark. Bronze is the lowest-level goal while Gold is the highest-level goal. Here they are:

• Bronze Cup: Achieve a forward annual dividend income of $13,000
• Silver Cup: Achieve a forward annual dividend income of $13,250!
• Gold Cup: Achieve a forward annual dividend income of $13,500!

Next up, is setting goals for stock purchases. How many new stocks do I hope to purchase this new year? To be honest, I am leaning more towards building upon the companies I already own with only buying new stocks as opportunities arise. I don’t know how the year will turn out and what opportunities will present themselves or how many. But I am leaning towards fewer purchases of new stocks this year, so that is the framework in which I will set these goals.

I will use bronze, silver, and gold medals to represent each goal achieved. Each medal is an achievement based on adding a number of new stocks added to my portfolio. Bronze is the lowest-level goal while Gold is the highest-level goal. Here they are:

• Bronze Medal: Add 3 new stocks to my portfolio!
• Silver Medal: Add 4 new stocks to my portfolio!
• Gold Medal: Add 5 new stocks to my portfolio!

I also want to add another financial goal to the mix. Think of this as a side-goal.

Back in August, I bought a bit of silver bullion and would like to build on to that. I consider this less of an investment and more of insurance against economic catastrophe. I think it is good to diversify across a little bit of everything, precious metals included. Hence, I would like to add an additional 30 ounces of silver throughout the course of 2022. Thus, consider 30 ounces for 2022 as my set goal.

In setting new goals for 2022, I cannot predict what will happen with any certainty. Nevertheless, I am optimistic and will aim for the gold and beyond. I will continue to building my dividend dynasty! So, what do you think of my goals for 2021? Do you plan on setting any goals? Are you glad this year is almost over? Let me know in the comments below!

Have a Merry Christmas and Happy New Year! 😀