Q1 2019 is over which means it’s time to do a Q1 2019 goals and resolutions update. When I published my goals in January, I wasn’t sure if I’d do monthly or quarterly updates. I ended up deciding on quarterly updates because I think quarterly check-ins are sufficient enough to keep me motivated and honest with myself.

Some of the goals I created for this year are extremely challenging and ambitious. It will be interesting to see whether I can accomplish all of them or not.

2019 Goals & Resolutions

Here is my goal schedule spreadsheet. Being an Excel nerd, I have created several sheets within the spreadsheet file to track my progress of the different goals. For example, after I go swimming, I’d enter the date and distance. The spreadsheet automatically adds up the distance and reports the result in the goal schedule spreadsheet. Ah, the beauty of spreadsheets!

Financial Goals

  • Save for 2020 TFSAs and RESPs ($17,000 total) -> We already maxed out our TFSAs and RESPs for 2019, so we are saving for next year. This goal is definitely a work in progress.
  • Dividend Income over $23,000 -> 23%. This was an ambitious goal since it meant a YoY growth of 22.8% or a contribution of $106,642.75 at a 4% dividend yield, but I wanted to give us a CHALLENGE! In Q1 we received a total of $5,293.60 in dividend income. If we were to accomplish this goal, we should be expecting to receive $5,750 in dividend income after 3 months. Therefore, we are slightly behind in progress with this ambitious goal.
  • Max out RRSP contributions -> Complete!!! We maxed out our 2018 RRSP contributions in early Feb 2019. In fact, we had a small over-contribution. Fortunately, the CRA allows for a $2,000 “cushion.” The “up to $2,000 over-contribution” is penalty free, but it’s not tax-deductible until next year.
  • Travel Hack 100,000 Marriott rewards points -> Separately, Mrs. T and I have applied for the American Express Bonvoy credit card and gotten approval. We need to hit the requirement of $1,500 in the first 90 days spending to get the 60k Marriott welcome points (we have a few planned expenses, so it should be no problem spending $3,000 altogether). I also recently applied for the TD First Class Travel Visa Infinite Card and hit the $1,000 in the spending requirement within a month thanks to some planned big expenses. I’m waiting for TD Visa to award the 80k TD rewards points, which is equivalent of $400 (if you redeem through TD Expedia, $320 if you redeem for a statement credit). I plan to use the TD rewards points to book my flight for FinCon’19.
  • Dividend Income/Annual Expenses ratio 50% -> After 3 months, we are at a dividend income/annual expenses ratio of 42.8%. We need to work on increasing our dividend income and reducing our expenses to accomplish this ambitious goal by the end of 2019.

Blog Goals

  • Publish 6 high-quality articles every month -> 25% complete. I published 6 articles every month in Q1. Do you have any suggestions on what topic(s) I should write more of?
  • Attend FinCon’19 -> I still need to book my flight to Washington DC and book 3 days off work. Unless something drastic happens, it is my plan to attend FinCon’19.
  • Attend CPFC’19 -> I have no idea when CPFC (Canadian Personal Finance Conference) will be this year, probably sometime in Nov. Once more information is available, I’ll determine whether I can attend or not.
  • Organize a meetup in Vancouver -> I have not started organizing the meetup. I probably won’t get started until late June or early July. My current plan is to have a small Vancouver personal finance bloggers meetup sometime in July and August.

Personal Goals

  • Eat better & healthier, avoid snacks at night. Weigh 70 kg by the end of 2019 -> 75.5 kg. I started the year at 75.8kg, so I haven’t lost  any weight after 3 months. However, I have been more active in the last 3 months, going swimming to the gym regularly, as well as having over 10,000 step counts for most days. I also have been more conscious of what I eat and avoid snacks at night. I usually wear 32-inch jeans, and they have been feeling a lot loser lately. In fact, I had to buy a new pair of 30-inch jeans the other day. I must have been losing body fat and gaining muscle. I suppose weight isn’t a perfect indication of your body type.
  • Go swimming at least once each week. Swim for 100 km in 2019 -> 39%. I missed one week of swimming when we were in Taiwan and Japan because the hotels we stayed at didn’t have a pool. Having said that, I am ahead of the 100 km goal as I have already swum 39 km. At least once a week, I would get up around 5:45 AM and swim laps for an hour before heading to work. I used to think the 100km target was super challenging, but I no longer feel that way.
  • Go to gym at least twice each week -> I have been extremely pleased with my progress on this goal. After 13 weeks, I’ve hit the gym at least twice every week.
  • Read 15 books -> I finished 8 books in Q1. This is slightly ahead of schedule. The 8 books I read were:

Fun Goals

  • Go camping 3 times -> We have made camping reservations throughout the summer.
  • 1 staycation with Mrs. T -> We have made the arrangement with my parents to look after the kids for a weekend so Mr. T and I can spend a weekend together kids free. We are very much looking forward to the staycation.

Q1 2019 Wrap Up

I think I had a pretty good Q1 when it comes to making progress with my 2019 goals & resolutions. One thing we need to work on is generating more dividend income and reduce our expenses, so we can hit the $23k dividend income target and the 50% dividend income/annual expense ratio. Now that the weather is getting better in Vancouver, I am looking forward to our camping trips and the upcoming staycation with Mrs. T.

Written by Tawcan
Hi I’m Bob from Vancouver Canada, I am working toward joyful life and financial independence through frugal living, dividend investing, passive income generation, life balance, and self-improvement. This blog is my way to chronicle my journey and share my stories and thoughts along the way. Stay in touch on Facebook and Twitter. Or sign up via Newsletter