2021 Resolutions

Welcome to my 2021 resolutions. 2021 is upon us and it already started out crazy. However, I am determined that this year will be better than the last. In my 2020 year in review, I noted that I only successfully completed 2 out of 6 of my resolutions. My goal is to set realistic resolutions for this year so that I can accomplish most if not all of my 2021 resolutions. So, without further adieu, here are my 2021 resolutions.

1. Increase Contributions to Dividend Portfolio To $1000

The first 2021 resolution I have is to increase the contributions to my dividend portfolio. Currently, the contributions to my dividend portfolio is approximately $750 per month. However, in 2021, I plan to increase that to a minimum of $1000.

That’s going to be tough. I don’t make a lot of money, and I have a lot of goals for this year. However, it’s all about priorities, and right now, I choose to prioritize rebuilding my portfolio.

Although the year just started, I’m happy to report that I am on track to reach that goal in January. I just have to keep that up for 11 more months! Wish me luck.

2. Start A YouTube Channel

If you recall, this was part of my resolutions for 2020. Yet, I failed to start a YouTube channel last year in part due to fear. However, I’ve decided to punch fear in the face (so to speak) and have put this back on the list for 2021.

Now, it’s very hard to get any traction on YouTube, but that’s not going to keep me from trying. I’m going to give myself a year and evaluate how things are going after that point.

My immediate goal will be to post at least once a week. That’s going to be tough, especially during the busy months at my job. However, I will cross that bridge when I get there. I just want to start. I don’t have the best equipment, but I don’t want to use that as an excuse.

The YouTube channel will focus on personal finance and not just dividend growth investing. However, I hope you will support the channel, once launched.

Regardless, I will continue to post here on Dividend Portfolio. The monthly dividend income reports is a stable on this blog and that will never change. But, in addition, you can expect additional posting relating to either the dividend growth investment strategy or on additional efforts to build my portfolio.

3. Transform My Body

Once again, this will be part of my 2021 resolutions. I feel like I make this a resolution every year. However, despite saying the same thing last year, I feel this year will be different! Here is how I know it will.

Every year, I tend to hire a personal trainer. However, I’ve found that personal trainers can tend to be expensive, and I usually quit after a couple of weeks. So, when that doesn’t work, I try to work out with a friend or colleague. But, inevitably, our schedule don’t align and after we miss a few sessions, I give up. Perhaps more importantly, I have the least amount of motivation working out alone. Because I don’t really have a plan in the gym, I go and do whatever, and, after about 10-15 minutes, I figure that I am wasting my time and so I just leave.

Whatever the reason, or whatever the excuse, working out has been a challenge for me. But, this year will be different.

So far, I’ve found a personal trainer that is training me at an affordable price. We work out either 4 to 5 times a week at $100 per week. I work out at a private gym, and so I don’t have to worry too much about crowds or COVID 19. Granted, I just completed my first week, but the motivation to keep going is still there.

Since I’ve never really had a 6-pack, that’s my goal. I’m giving myself 30 days to see some difference, and then 90 days to at least see a 6-pack. I feel fat (although my roommate keeps telling me I’m not). If I meet my 90-day goals, I may post pictures. The biggest struggle is nutrition. So, wish me luck.

4. Buy A Primary Residence

This is a repeat from last year’s resolutions. What’s more, this is also a stretch for me this year. That being said, depending on what happens with the condo, there is a distinct possibility that I will be buying a primary residence this year!

Real estate definitely intrigues me and I want to get better at it. If I did buy a primary residence, I would be house hacking. That is, I would likely get roommates to help pay for the mortgage. Or, I could buy a multifamily unit (up to 4 units) and live in one side and rent out the other. Ideally, if I bought a multifamily unit, I would also have roommates in the side of the unit that I am living in.

I should know within the next month or two whether this resolution will be met in 2021.

5. Increase Dividend Portfolio Balance To $30000

Ok, this resolution will be tough. Although I normally don’t focus on portfolio balance, I think a good goal for 2021 will be to get my portfolio balance to at least $30000.

At the time of this writing, my portfolio balance is approximately $10,000.00. If I meet my number one resolution above, all else being equal, by the end of the year, my portfolio balance will reach $22,000. That still leaves the balance short of $8000. I hope to make this difference up with a combination of dividend payments, dividend increases, stock market appreciation and additional contributions that I hope to find over the course of the year.

This will be an aggressive goal! Especially since I’m also trying to buy a permanent residence. But, I am reminded of the quote by Michelangelo which states, “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.”

The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark. -Michelangelo.

Conclusion

There you have it. I’ve laid out what I think are 5 realistic resolutions that I believe I can achieve this year. They will be difficult to achieve, but, I am confident that I have the fortitude to succeed.

What about you? Do you have any resolutions for 2021? What did you think of this post? Let me know by commenting below.