Setting investment goals is one of the fun things I get to do as an investor.
2022 comes with lots of uncertainty and many popular finance speakers predicting a possible fall or crash in both real estate and stocks.
I won’t let any of this affect my planning both for income and building wealth and assets.
Will the market crash? Yes…sooner or later.
Does it worry me? Of course though not that much.
Passive Income Portfolio earning $500mth
In Oct I set out to build a $500 per month passive income in the form of stock dividends.
You can see the posts here Passive Income Portfolio though it’s still Leary days at this time.
The portfolio is expected to approx 100k and earning 6% in dividends.
No index funds will be included, just some hand picked stocks.
Sell Excess Goods.
After many years it’s time to reduce the amount of stuff and things that I own.
Many not needed or no longer used hobby items, collectables, memorabilia and tons of books and CDs. The books may be the hardest to move on as I contacted a few local charity stores and they are not taking books as they have way more than they need.
Ebay will probably be the preferred method as it’s still the least hassle method of selling items with little interactions and time wasting.
Create Another Income Stream
I want to create a new income stream that is location independent and hopefully not very time consuming.
I have a few ideas and options to pursue though it may end up in the form of an investment in a different asset class.
Crypto is definitely ruled out. I don’t own any crypto and have no intention of buying any for the foreseeable future.
Establish a second base to live and work.
This is a longer term goal though I’m hoping to at least get most of the research done in the next few months on various places I could live for some or all of the year both local and abroad.
I would also need to plan for storage of many items and decide what to take with me.
Do I need another place of residence?
Do I rent it out on Airbnb or just keep it empty?
Same state? Interstate? Overseas?
Repairs and improvements to ppor
I plan on selling my current principle place of residence in the next 2-4 years.
I will need some general repairs and maintenance both for myself and to make it easier to sell.
And that’s it for my main finance goals.
Have you made your list of goals for 2022 yet?