One of the most important things I accomplished in 2014 was purchasing my first house. I managed to lock in a fantastic interest rate on a fixed 30 year mortgage. While I certainly do not plan on paying this mortgage 30 years, it is nice right now to be able to focus more capital on investing while having a fixed expense on my residence. One important advantage to home ownership is that I never have to worry about a landlord raising my rent on a whim. It is nice to be sure of what I will be paying each month going forward. I do pay extra each month to knock down some of the interest, but i also think holding a mortgage instead of trying to pay your house off as quick as possible has plenty of advantages such as taxes, and being able to allocate more capital to investments. At my age, I believe that letting the power of compounding work its magic is much more important than trying to pay off my house as quick as I can. Although I am an avid Dave Ramsey listener, I cannot agree with him on paying off the house as quickly as possible!
The second thing I am thankful for is being able to really dive into the dividend growth investment world. I really got myself into gear this year, and managed to invest in some amazing companies like PG, CVX and MO. I can't begin to express how thankful I am for growing up in the age of technology. The internet has made investing so much easier and accessible to people now versus even 20 years ago. There really is no excuse to not invest in this day and age. Trades are cheap, and tools/knowledge are free for the most part if you practice due diligence and research things properly. As cliché as New Years resolutions are, I plan on making mine right now! I want to introduce at least one person in my life to the investing world. We all know at least one person in our lives with good intentions, but lacking the tools and knowledge to get started. There is no better feeling than giving back, and I think that this would be a great way to do it. A little encouragement mixed with guidance goes a long way. I am 25, but I wish I would have started when I was 15! I think most of us share this conviction.
The final thing I want to cover in this post are goals for 2015. One of the most important things in life is setting goals, and staying motivated. Mixing these two things together will almost ALWAYS yield positive results. It doesn't matter if its weight loss, financial independence, or your career, without goals we are on an aimless path, bound to make unnecessary mistakes. Here are my goals for 2015, both financial and personal:
-Reach at least $750.00 in annual dividends in taxable brokerage account.
-Invest at least $3,000.00 into RothIRA account for tax year 2015
-Invest in (1) REIT in RothIRA account
-Get a Promotion at Work
-Get LEED Certification at work
-Continue Gym Routine, achieve 175lb weight. Currently 205lbs
-Take girlfriend on vacation, pay cash for entire trip.
-Read at least 1 financial or self improvement book per month from start to finish.
So there you have it! I have plenty of things to strive for in the coming year and I could not be more excited! I had a great 2014, and can't wait to see what 2015 will bring!!
What about you!? What are your goals for 2015? How do you stay motivated? Thanks for reading!!
-Josh @ Building Dividends