2021 was a dismal year! I remember I was so excited to start the year. I posted my 2021 resolutions and I was filled with motivation that is typical for a New Year. Well, it seems like all I did was made the post and then forget about my resolutions. That’s because I really didn’t follow through. So, for me, 2021 was a bud. But, this blog is all about accountability. So, let’s take a look at what my 2021 resolutions were and how well (or poorly) I did in meeting those goals.
As a reminder, here are my 2021 resolutions:
- Increase Contributions to Dividend Portfolio to $1000
- Start a YouTube Channel
- Transform My Body
- Buy a Primary Residence
- Increase Dividend Portfolio balance to $30000
Let’s see how I did.
Increase Contributions to Dividend Portfolio to $1000 – FAIL
This was an epic fail. I started the year with good intentions, and actually hit my goal for several straight months. However, I decided that I wanted to buy a beach condo and that meant saving as much money as I could. I ultimately had to cut back on my contributions, and at the time of this writing, the minimum contribution to my portfolio is a WHOPPING $10 per week!!!
Of course, there are times that I put more than $10. In fact, I started a new project entitled Driving for Dividends that will help provide a boost to my portfolio in 2022. But sufficed to say that I wasn’t able to maintain a minimum contribution of $1000 to my portfolio in 2021.
Start A YouTube Channel – FAIL
I came really close to doing this. I reserved a spot in my house just to make YouTube videos. I signed up for courses that talked about how to make YouTube videos. I even created an account and recorded my first video!!! All that remained was for me to upload the video, and post it to go live. Hahaha. I couldn’t do it! I chickened out!
It’s still possible for me to upload my first video. I’m debating whether I want to make this a resolution in 2022. One thought is to keep it off my resolutions list, but if I ever decide to go live, then I’ll just do it. Chances are, however, that I won’t go live in 2022 either, but only time will tell.
Transform My Body – FAIL
I really wanted to get a six-pack in 2021 but sadly, wanted a fit body is not enough. You have to put in the work, not just at the gym, but in the kitchen, and I struggled in both departments. Even after hiring a personal trainer, I wasn’t able to reach my goal. Clearly, it wasn’t his fault.
Honestly, I hire a personal trainer every year and I still have never had a six pack. The good news is 2022 will be another opportunity for me to finally get a six-pack. I will have a dry month in January, where I drink no alcohol. I’ve done that for the preceding two years, and I want to keep the trend going. The difference in 2022, is that I am now working with my personal trainer (the same one) at the start of the month, so hopefully I can see some difference sooner rather than later.
It’s going to take a lot of hard work on this one. But I’m clearly not giving it my all. For example, my training sessions are 20-30 minutes with my personal trainer. It’s not a lot of time, but I figure that time is better than nothing. It helps to keep the cost down by working out with the trainer for half the usual time. This is a working progress for me, and I AM making progress. It’s just been slow.
Buy A Primary Residence – SUCCESS
This is the only resolution I was able to meet. In 2021, I bought two real estate: a beach condo and a primary residence. So, the total amount of real estate properties I own is 3. The beach condo, so far, has been a money-suck, but I haven’t owned it during the busy season yet so I am hoping to turn a profit in 2022.
My primary residence was a good investment I think. My house is a bit far from work (20 minutes), but I live with two roommates and their rent covers the mortgage. One roommate constantly pays on time and the other roommate constantly forgets but pays after I remind him on the third day. I do pay the utilities out of pocket but whenever I move out of this house, I should be able to rent it for much more than the mortgage and other expenses.
I’m still debating if I will buy another house in 2022 or just take a break and rebuild my cash reserves, which are wholly depleted at the moment.
Increase Dividend Portfolio Balance to $30000 – FAIL
This was an epic fail. Not only did I not increase my portfolio balance to $30000, but I also had to liquidate my portfolio to purchase the beach condo. So, my portfolio balance was under $10000 at the end of 2021. It’s still under $10000 now. Perhaps another way to look at this resolution is that I prioritized my real estate investment to the detriment of my dividend growth investing strategy. Going forward, I’m going to have to see how the two strategies can co-exist.
I’m confident that there will be little need to liquidate my dividend portfolio again to buy real estate. The beach condo was a one-off. Even if I were interested in getting a bigger beach condo, I would likely sell the current one rather than liquidate my dividend portfolio. So, while I am not there yet, the plan is to treat the dividend portfolio as a retirement account where I don’t touch the money for another 15 years.
Conclusion
I only was able to complete 1 out of 5 of my 2021 resolutions. That royally sucks. Thankfully, 2021 is over and 2022 is a brand New Year. I hope that the financial decisions I make in 2022 will be for the better and that I maintain my focus on the ultimate prize of financial freedom.
How was 2021 for you? Did you meet your resolutions? What did you think of this post? Let me know your thoughts by commenting below.
As you say it’s all about accountability and in that department sir, you succeeded royally. 🙂
I also think that you did not fail perse, I think you were somewhat unclear on your own goals. I mean buying an expensive beach condo simply does not work with your other goals.
Even though it’s a different, you took more action and responsibility than most and I applaud you for that
So from where I stand, you learned a lot this year. So take the most out of your lessons and rock 2022!
I appreciate it Mr. Robot. Life certainly constantly teaches me lessons. It’s also a reminder that there can sometimes be setbacks in life but it’s important to keep going. I am excited to see whether I truly can make 2022 a success. Happy New Year to you and your family.
I finished up Atomic Habits at the end of last year and it’d be a good book to try and get you kickstarted and maintaining your fitness goals especially. A lot of the small 1% improvements rather than wholesale changes, but I’ll be implementing it in my own fitness goals for the year. Even though you only succeeded on 1 of 5 goals that 1 was a big one with buying a primary residence and all of the unexpected stuff that comes with that.
JC recently posted…United Parcel Service: Continues To Deliver The Goods, Now Show Me The Dividend Growth
Interesting JC regarding Atomic Habits. I haven’t read the book, but I firmly believe in incremental changes as well. I’ll consider it. Good luck with your fitness goals. And you’re right, that the goal I did meet for the year was a HUGE one. Still, I’m hoping to do more in 2022. Happy New Year to you and good luck with your own goals. Thanks as always for stopping by.