Almost everyone in the pursuit of financial freedom is saying that you have to have short and long term goals, you have to follow them and track your progress, that is the key to success in achieving all of your financial goals.
Here you can find my financial goals for the year 2015. I consider them short term goals. I try to formulate my goals such that they can be measured and tracked if possible.
1. Passive income % of expenses
You can read about it on the Financial Independence section. I consider this the most important measure on the financial freedom journey. In 2014 the rolling average of the passive income % of expenses was 4.74% and the goal for 2015 is to achieve at least:
20% (read more from comments) 15.0%.
Last year my expenses increased by 44.18%. This year goal is to keep my expenses at least 10% lower than last year. This should be doable as last year I had many new home purchase related expenses that are not relevant anymore this year.
3. Savings rate
You can read more about the savings rate on the Savings Rate page. Last year my rolling average 2014 savings rate was 44.2% but this year goal is to have at least 55%. This should be doable if I can manage my previous 2 goals.
This year goal is to invest at least the same amount of the money as last year. With the emphasize of investing more into dividend stocks if possible and find alternative opportunities to current loan based portfolio to diversify the portfolio. For example Tartu Hoiu-laenu Ühistu seems interesting.
5. Passive income from online
Today I have small niche website (luuletused.ee) that is generating small amount of passive income. The goal for 2015 is to find idea and create some IT and online related project to earn more passive income. If any of you readers have some ideas we can team up and do the project 50:50. I have the technical and development skills and bit marketing skills and connections also.