Enough time has passed since writing my somewhat negative self-assessment relating to my 2016 goals that I feel comfortable drafting what I hope to accomplish in 2017. Since I lacked focus while striving toward my three categories of goals last year, I decided to simplify my objectives into a single sentence:
Increase forward dividend income by $2600 while achieving a dollar-weighted average organic dividend growth rate of at least 5%.
Although I dislike using specific numbers on this blog, I know posting a concrete figure for forward dividend income will further motivate me to achieve my objective. To counterbalance any yield chasing in the pursuit of my aggressive forward dividend income goal, the dollar-weighted average organic dividend growth rate of at least 5% is essential. The 5% average growth rate helps me steer clear of sucker yields and hopefully, avoid dividend cuts. The other tactic I used to avoid dividend cuts last year, not buying shares in any company that had not raised their dividend in the past 12-months, will also be re-implemented this year.
I decided against setting budgeting or personal development objectives this year, as I'm trying to simplify my life in advance of the summer of 2017, when my attention will be directed elsewhere. Despite only having a one sentence goal for this year, I feel positive and focused, ready to direct my attention toward achieving my singular financial objective.
Have you set your financial goals for 2017???