Well it’s that time again to start to put the list of goals together. 2019 was better than i would of expected however when you focus on your goals set out and review them often you have a much better chance of them being achieved.

There is a lot of talk around a market crash coming as most of you have probably heard, so my family and I will be monitoring certain metrics and ensuring any stocks purchased are very solid companies who we can see 20 years from now. It’s also important to note we will be focusing on those companies who also don’t typically cut their dividend in a recession and in some cases continue to increase throughout the years.

You will notice that the list may be different then what you have seen elsewhere. We try to ensure that we are not only adding financial goals but also family goals. We feel this is very important as “why not” have fun while shooting for your financial goals. I would highly encourage all of you to put your goals either on your website or even just on a piece of paper and look at it every few weeks, this will give you the opportunity to ask yourself “What I have done so far this year, will this get me to this goal?”. If the answer is no “What can i do differently to change that?”. Push yourself to think outside the box and make it happen.

So without further to do here’s our 2020 goals that we want to hurdle

Increase my personal TFSA by $6,000

  • This was completed early in the year.

Increase Maria’s TFSA by $7,000

  • We ended up being lucky enough to contribute $13,000.

Redo the deck steps

  • This was complete in early summer

Install Lattice on the deck

  • This was completed in the summer.

Plant remaining tree’s and shrubs

  • This was complete as soon as the snow left us.

Pay no interest on any credit card

  • Credit card was paid off almost every week.

Complete deck siding

  • Completed late summer.

Increase RRSP by $7,000

  • We ended up contributing $7,287.

Beat the TSX

  • TSX gained 2.15%.
  • We gained over 15%. Meaning since we started making this a goal we have not underperformed the market.

Take a family trip to Kelowna

  • Due to Covid my sister postponed the wedding and due to some limitations we decided to not go on this trip/

Fund the kids RESP by $5,000

  • We ended up funding $6,000.
  • Government funded $1,200 for a total of $7,200

Frame basement

  • Due to restrictions we decided to hold off on this.

Receive $3,100 in dividends

  • We just made this one by receiving $3,165.

Reduce Tim Horton bill by at least half

  • We cut this down big time by more than half as I ended up working from home for half the year.

Reduce debt to asset from 52% to 48%

  • We destroyed this goal big time as we continued to pay down the mortgage, added no loans of any kind and the portfolio has a very strong year. At the end of the year we are sitting at 45.5%.

Help a family in need

  • Due to Covid they did not allow for us to pick one family to buy gifts and provide a nice meal so we decided to give financially to over 4 families this year that are all going through a very difficult time.

Increase net worth by $65,000

  • For the second year in a row we were able to not only meet this goal but beat it by a significant number. In 2020 our net worth increased over $80,000.

Maria to take a trip to phoenix

  • Unfortunately this got cancelled due to Covid.

Receive a minimum of $1000 from cash back on credit card

  • We ended up at $875 as we just didn’t spend what we normally would have under normal circumstances.

Read a minimum of 6 books

  • Completed this just barely as the last book was completed in the last week of the year.

16/20 is not bad for a year that brought much uncertainty. Overall happy with the performance.