The start of a new year gives everyone a fresh start. All around us people are making goals and resolutions to try and change their lives for the better. Seems that the most popular types of resolutions are usually fitness or financial related. Well I am certainly no different and I have established both types of goals for the upcoming year. Since this is my website about dividend growth stock investing, I will stick to discussing my investing goals that I will be trying to reach this year.
Dividend Growth Stock Portfolio
Currently I have a taxable account with Scottrade where I invest in dividend growth stocks. I discussed in my last article that I made around $377 in dividend income last year in this portfolio. My main goal this year is to contribute $8,000 in new capital to this account so that I can make new buys. This should allow me to make around 8 to 10 purchases in 2013. My plan will be to purchase either completely new positions in companies that I would like to own but haven’t previously bought or to purchase more shares of companies that I already have a position in. Sometime this month I would like to update my stock watch list to reflect all the companies I may be interested in owning a part of one day. This way when I have new capital to invest I can easily go out and do quick valuations for these companies to determine the best to buy at that time.
I’m not going to make a dividend income goal at this time because it’s kind of hard to estimate. Obviously if I am investing new capital throughout the year and if the companies I own increase thier dividends at some point during 2013 like I want, then my income will definately increase. I am in the accumulation phase and while I eventually have the goal of dividend income offsetting my living expenses, I am a long way off from being able to reach that goal. So in the meantime I think it best to focus my efforts on a goal that I can have more control over. This is why I will focus on the amount of new capital I contribute to this account and save. I believe as long as everything goes well this year I should have a good chance of reaching this goal.
401k Retirement Plan
Along with my dividend growth stock investment account, I also have a 401k through my employer. In my 401k I am saving for retirement goals and for 2013 I will have the same goal of contributing $8,000 into my 401k. This goal should be pretty easy to reach because all I have to do is set my contribution amount and forget it. The money will automatically be taken from my paycheck before I even have the opportunity to see it. As long as no problems emerge in 2013, I should be able to leave my contribution level high enough through the year to reach this goal.
I started this website last year as a way for me to share what I have learned about what I consider to be the best investing strategy out there. Things went pretty well for my site last year as the number of visitors grew each month since the start. I am looking to maintain that growth this year and I am aiming for double the number of visitors in 2013 compared to what I reached in 2012. I am planning to achieve this through a consistent posting routine of at least 2 posts per week or about 8 posts per month. I will also try to get some more guest posts this year which has proven to be quite beneficial for increasing traffic. A couple other ideas I would like to implement for the website at some point in 2013 is a free ebook that I can give away in exchange for signing up for a newsletter which I will also look to create sometime this year. Hopefully all of these initiatives will help me gain more readers and more comments to make a great community here at Dividend Growth Stock Investing.