At the beginning of 2022, I established a number of goals and resolutions for myself. The focus in 2022 was to set goals and resolutions that would keep me motivated and inspired throughout the year. I purposely did this because I was mentally drained and uninspired by many of my challenging and ambitious goals in 2021.
The last few years have been challenging for many of us. For me, while working from home meant no commuting and a more flexible working schedule, it also meant no face-to-face interactions with my coworkers.
The lack of social interaction has been tough and I’m glad that I have worked at my company for over a third of my life and have known many of my coworkers very well on a personal level so I can call them without scheduling a meeting and just chat. Sending emails and messaging on Teams aren’t just the same as a quick simple phone call.
2022 marked the fourth year that I have created goals, tracked them, and written quarterly updates on this blog. For me, this process helped me tremendously because I could hold myself accountable and be honest with myself. I plan to continue this annual goal setting tradition this year.
2022 Goals and Resolutions
For those of you that are new to this blog, I have been tracking my goals and resolutions in a spreadsheet. To make everything easier to track and see visually, I grouped my goals into four categories. At the end of the month, I’d then check what I have accomplished. If I achieve a goal, I would colour the box green and have a small celebration.
I also give myself a letter grade for each goal that I’m still working on or has accomplished.
I only had two financial goals for 2022 and they were quite straightforward.
Dividend Income over $36,000 -> Completed! $42,305.81. A++
We blew this goal out of the water, literally! It’s crazy that we increased our annual dividend by over 35% year over year. This is really amazing, especially considering we’re facing the law of the big numbers.
Most of the dividend income increase came from new capital contributions. We added a lot of new cash to our dividend portfolio in 2021 and throughout 2022. To do that, we have to say thanks to our relatively high savings rate. It also helps that we are reinvesting 100% of our dividend income and that Mrs. T is earning more with her doula services.
I’m extremely pleased to say that our dividend income was able to cover over 104.3% of our core expenses.
What are core expenses? They include expenses like mortgage, house insurance, life insurance, car insurance, groceries, household items, utilities, car gas, health-related expenses, internet, cell phone, etc.
Some of you may think that $3,380.27 per month in core expenses is extremely low for a family of four living in one of the most expensive cities in the world. But we have managed to live off of this amount and have fulfilling and satisfying lives.
Please do keep in mind that essential expenses do not include expenses like eating out, entertainment, charitable donation, vacation, day camps, and other so-called “non-essential” expenses.
Use up WestJet travel bank & free companion vouchers -> Completed.
We received a refund from WestJet when we cancelled our Disneyland trip a few years ago, due to the global pandemic. The travel bank money and free companion vouchers were expiring in early 2022 so we had to use them.
After some planning, we used our WestJet travel bank and free companion vouchers by booking a 2.5-week vacation to the Maritimes. We had a ton of fun and enjoyed the area, in particular, PEI.
Publish a blog post every Monday -> Completed. A.
Once again I managed to publish a blog post every single Monday in 2022, which meant a total of 52 articles.
I’m extremely happy that I have kept up such a consistent posting schedule since 2019. Publishing on Mondays has motivated me to plan and write ahead instead of scrambling and trying to write something the day before and having writer’s block.
I finished this goal back in Q2 and grouped published articles into the following three categories:
Beginner articles cover easy-to-understand investing and FIRE topics to get readers started on their DIY investing/FIRE journey.
Intermediate articles cover topics readers may encounter along their DIY investing/FIRE journey.
Advanced articles cover topics like decumulation, withdrawal strategies, and tax efficiency. These are topics I’m still learning as we get closer to reaching financial independence.
Finish Ahrefs blogging course -> Done
I’d say that the Ahrefs blogging course wasn’t as useful as I expected. To be better at SEO I may need to look at more advanced blogging courses, possibly some paid courses.
For 2022, I wanted to focus on my personal goals and create good habits for myself.
Work out at least two times a week -> Pass. B
I have been working out at least twice a week except for one week out of the entire year. In early November our entire family got the flu and we were completely out of it for about a week. I didn’t work out for a week as a result.
Despite missing one week, I did very well overall. I averaged 3.52 workouts per week in 2022.
After my back and abdominal injuries in Q2, I was really glad to get back to working out with my kettlebells. I even started lifting my 27 kg / 60 lbs kettlebell but kept to simple workout routines.
In early October we purchased an annual family recreational pass. This meant we could go to recreation facilities like pools, skating rinks, and gyms in our city. Furthermore, we could also attend recreational classes. We purchased the annual pass so we could take both kids swimming more and Mrs. T could attend Zumba and yoga classes more regularly while the kids are in school. To get our money’s worth, I also started swimming once or twice in the morning again. I went to the gym a few times and enjoyed non-kettlebell workouts.
Read for 10 minutes before bedtime -> Completed. 27 books read. A++
I read a total of eight books in Q4, bringing up my total to 27 books for the entire year. Considering that the most books I read in a year since 2019 were 21, I have outdone myself.
The books I read in Q4 2022 were:
- The Clockmaker’s Daughter by Kate Morton: I started reading this book when I was locked inside of my hotel during my 4 day quarantine in Taiwan. I found the book very confusing and hard to get started at first because the author was telling the story from different characters’ points of view and from different times. But about 70 or 80 pages into the book, I began to really enjoy the book and almost couldn’t put it down.
- Rise Up: Leadership Habits for Turbulent Times by Ali Grovue and Mike Watson: continuing with the theme of learning more about leadership, I picked up Rise Up and finished reading it within days. The book was a great read with summaries of authors’ insights from guiding leadership teams in different industries. My key takeaway from the book is that a good leader needs to be relatable, honest, and trustworthy.
- Lie Down with Lions by Ken Follett: I really enjoyed Ken Follett’s writing in The Evening and the Morning so I was overjoyed to find Lie Down with Lions in our street library (one of the houses set up a little box where folks can exchange books). Not knowing Ken Follett well, I was surprised that Lie Down with Lions was a thriller spy novel, not a historical one. But nonetheless, I really enjoyed reading Lie Down with Lions and the usage of words throughout the book. I will read more of Ken Follett’s books.
- Cashing Out: Win the Wealth Game by Walking Away by Julien Saunders and Kiersten Sauders: I met Julien and Kiersten at FinCon briefly a few years ago and knew their book would be worth reading. I was totally right. Although many of the topics in Cashing Out were similar to many personal finance books, I really enjoyed that Julien and Kiersten wrote their book with a focus on a visible minority’s point of view. It was heartbreaking to read about the financial challenges Black people face in the US.
- Radical Love: Learning to Accept Yourself and Others by Zachary Levi: I had no idea what it is like to suffer from generational trauma and severe depression, and want to commit suicide so Radical Love was an eye-opener for me. Mental health struggles need to be discussed and should not be hidden under the mattress. I am really glad that Zac wrote this book and tried to take the stigma out of mental health.
- Harry Potter and the Prisoner of Azkaban by J.K Rowling: continuing with my quest to finish all seven Harry Potter books. The Prisoner of Azkaban was slightly different than the movie and was a quick and easy read for me.
- Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life by Jordan Grumet: I met Doc G/Jordan at FinCon’19 and appeared on his podcast a couple of years ago but I had no idea he was a hospice doctor. Jordan sent me the digital copy of Taking Stock in early 2022 but I told myself I’d wait and read the physical copy when it was available. Taking Stock was a great book, one of the best personal finance books I’ve read to date, in fact. What I really liked was Jordan’s balanced approach to money. The FIRE movement has changed in the last few years, and books like Taking Stock are reshaping the movement. This book is a must read for me if you’re on your FIRE journey.
- The Guest List by Lucy Foley: What an unusual murder mystery story with a surprising twist! The author kept me guessing until the end. The Guest List was highly entertaining so if you’re looking for something easy and fun to read, look no further.
Body fat <=15% -> Not complete. 17.5%. C+
I ended Q3 with 17% body fat so it was slightly disappointing to see the number go up slightly at end of the year. But that wasn’t a complete surprise given that I let go a little bit for Christmas. Considering I started the year at 18.2% body fat, I’d give myself a C+ and call it a slight improvement.
Despite doing intermittent fasting for about 80% of the year, the biggest challenge for me was avoiding eating too many snacks during the eight-hour eating window. I need to find a way to limit the amount of snacking somehow if I want to hit the 15% body fat goal. I certainly don’t want to go to the extreme of stopping buying and eating chips, chocolate, and crackers altogether.
Go to Disneyland -> Not complete.
Go camping at Goldstream Provincial Park -> Not complete.
Well, I didn’t accomplish either of my fun goals simply because we couldn’t fit them into our schedule. Perhaps we’ll try again this year.
2022 Goals & Resolutions – What went well
So what went well for me in 2022?
First, not setting a number on how many books I have to read before the end of the year really helped me. Focusing on reading 10 minutes before bedtime allowed me to just enjoy reading for the sake of reading, rather than focusing on a specific number I have to hit. Not limiting myself to a particular genre of books also made reading so much more enjoyable.
I was surprised that we beat our dividend income goal by so much in 2022. As mentioned, this had a lot to do with our relatively high savings rate and our ability to add quite a bit of fresh capital in 2021 and throughout 2022. Rather than dreading the volatile stock market and how terrible stocks did throughout 2022, we ignored all the noises, continued with our investment strategy, and focused on the long term.
Working out in our garage using kettlebells has become a fun and enjoyable activity for me. It is no longer a chore and this shift in mentality has really helped.
On the blogging front, I was really happy that I continued to post articles every Monday. The consistency allowed me to plan and write ahead.
2022 Goals & Resolutions – What didn’t go well
The fun goals certainly didn’t go well for me in 2022. But fun goals were supposed to be fun and exciting. For me, they’re considered as a bit “out there, dreamy” goals so I think it’s totally fine if I didn’t end up completing any of them.
Summary – 2022 Goals & Resolutions Q4 Update & Wrap Up
I accomplished many of the goals and resolutions so I’d consider 2022 as an excellent year. I really enjoyed setting goals and resolutions and tracking them throughout the year.
Having done goal setting and tracking for four years, I think the process and system have done wonders for me. I feel like I have accomplished a lot since I started in 2019. Therefore, I plan to continue setting goals and resolutions at the beginning of the year and posting quarterly updates.
Dear readers, how was 2022 for you? Did you accomplish most of your goals and resolutions?
17 thoughts on “2022 Goals & Resolutions -Q4 update & Wrap Up”
After reading this inspiring post again and again, I have 2 questions, Tawcan!
Can the kettlebells be used to give a full body workout? Any suggestions on how to get one?
Do you have any post on asset allocation?
When are your 2023 goals post coming? (Did I miss it already)
I’m eager to read it see what your goals for this year are.
I used to make yearly goals and do a monthly progress check up but I just realized it’s been 4-5 yrs since I did it. Some mid life health issues got me sidetracked and it’s time to go back to good old goals. Thanks so much for posting your yearly goals. Very inspiring!
Yes KB is great for the full body. I got one of my locally at a distributor shop, the other one (heavier one) I got from Amazon.
Could you elaborate what you meant by asset allocation?
2023 goals are coming later this month.
Thank you !! By asset allocation, I mean how much percentage of asset for what sector (like financials, utilities, telecom, energy, railways, etc) is there a right balance that we need to aim for .. right now I’m high on financials so looking for some ideas on better asset allocation strategies and rebalancing.
congrats on your goals. are you not tired of working so much yet? Curious whether you feel the itch to retire and do something else.
Thanks Jake, still enjoy what I do at work so no plan to change just yet.
Its so good to know that you have read 27 books. Something for me to start on as a habit- not 27 books, may be 2.7 book as a start.
Some one says, Readers are Leaders. You have done that. Congratulation!!!
Any other book you plan to read this year , or recommend us to in 2023 to make a difference? Love to hear from you
Thank you David. I don’t have specific books picked out that I want to read this year but I quite enjoyed reading Ken Follett’s books so maybe I’ll try to see if I can get my hands on The Pillars of the Earth from the library.
Goodness 27 books last year, that is solid! Thanks for mentioning the Ahref Blogging course, as I have considered it as well. I think I’ll look into something else. Keep up the good work, you are not too far off of your 15% body fat, you got this!
Thank you Jim. 🙂
I like your goal to just read specific no of mins a day. that’s definitely doable without the added pressure to finish X no of books… I might do that too for another task – to set up my house after our move. Task by task is getting harder as it is overwhelming to see so much stuff, but I can do 20 mins a day.
That’s a good idea. 🙂
I lost 10 lbs during covid and have kept it off (nearly 10% of my bodyweight). The trick for me was following the rules of calorie density. Google it…basically the more veg, fruit, starches like potatoes/rice/oats you eat and displace high calorie dense foods, you can effortlessly drop pounds. It’s because these foods contain more water and fiber so you feel fuller longer. Barbara J Rolls also has a book on Volumetrics, same concept. Hope it helps for your upcoming year!
BTW awesome results all around. I recently found your blog and love it. Impressive number of books you read,too!
That’s awesome. I lost around the same amount during covid as well. Yup, very aware of the rules of calorie density, thanks for mentioning it.
17% body fat: How I envy you!!!
I should take a page from your book and work on self-discipline.
Congrats and always looking forward to reading your blog.
I started the year pretty close to 17% so didn’t actually gain or lose much. Target is 15% still. 🙂
Pre-Covid I went to a gym for rehab and then semi private classes three times a week – spending $2500/yr for a decade. During Covid, I switched to https://citizenathletics.com/. These two guys are physios, one from Kelowna and the other from the States. They provide really good advice and give examples of how to work out at home. Their app provides 5 different exercise programs per week. It’s $300/yr. Well worth the money and provides incentive to work out. I’ve been using it since 2020.
Cool, will take a look at this app. $300/yr seems like a good deal.