Q1 2019 Goals and Resolutions Update

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.

You Might Also Like

20 Comments

  • Reply
    Adam @ Minafi
    April 18, 2019 at 8:05 am

    You have almost the same goals as me for a bunch of these! About the same weight goal (starting and ending), going camping, FinCon, working on blog, etc. I might try this spreadsheet approach for tracking them too. Whenever I see I like how clear it is.

    • Reply
      Tawcan
      April 18, 2019 at 2:00 pm

      I can’t take credit for the spreadsheet approach, I copied it from Joe @ Retire by 40. 🙂

      Pretty cool that we have almost the same goals. Maybe we should do a weight in at FinCon haha. 😉

  • Reply
    Money Beagle
    April 18, 2019 at 9:34 am

    Good post. I may link this in my next monthly update. I set my goals to be very trackable numerically, so this is about the closest I’ve seen to the same approach.

    • Reply
      Tawcan
      April 18, 2019 at 2:01 pm

      Thank you, I think trackable goals are much easier to achieve, that’s for sure.

  • Reply
    Joe
    April 18, 2019 at 9:58 am

    It looks like you’re making good progress on everything. Nice job, especially on being active.
    I was going to go to Thailand this summer, but it looks like we might push it off until fall. We’ll probably go camping instead.

    • Reply
      Tawcan
      April 18, 2019 at 2:02 pm

      Thanks Joe, being active is making a big difference for sure. Thailand in the summer sounds way too hot for me. Fall might be cooler? Or just as hot as summer?

  • Reply
    yulian
    April 18, 2019 at 10:04 am

    Excellent, goals!
    Thumbs up.

    • Reply
      Tawcan
      April 18, 2019 at 2:02 pm

      Thank you yulian.

  • Reply
    Paul
    April 18, 2019 at 10:12 am

    Nice work. Curious on the Amex Bonvoy – here there’s a US$450 annual fee, while the Visa has the same bonus but a US$95 fee.

    I felt the same on Mark Manson – book started great, and then faded. Liked the concept but he stretched it too long.

    Good luck with the balance of the year!

    • Reply
      Tawcan
      April 18, 2019 at 2:04 pm

      Hi Paul,

      Here in Canada we only have 2 Amex Bonvoy cards – personal and business. One is $120, the other one is $150. The $450 one you mention comes iwth a lot more perks.

  • Reply
    Passivecanadianincome
    April 18, 2019 at 10:40 am

    nice Bob

    Great progress on all fronts. Kid free weekends are the best because they are oh so rare.

    Interesting set of books you got there. A bunch of them seem like great reads. The the subtle art – I just bought from a thrift store so its on my list to read as well.

    Factfullness really stands out as I enjoy what gates tends to read.

    Obviously on the dividend front your killing it!

    keep it up Bob.
    cheers

    • Reply
      Tawcan
      April 18, 2019 at 2:04 pm

      Kids free weekends are great, need to enjoy those when we get one, that’s for sure.

      Factfulness was a very interesting book. I think you’ll enjoy it as well.

  • Reply
    Eric
    April 19, 2019 at 3:23 pm

    Very inspiring post Bob! I also set up to lose weight. Started the year at 97kg coming back from Mexico. Set up a goal to get under 87kg (BMI of 25 for me). Have been working out, dieting, and as of yesterday I’m at 86kg. Lost 11kg in 3.5 months. I’m very happy about it.
    Thanks for the book recommendations, bought the one for parenting.

    • Reply
      Tawcan
      April 22, 2019 at 8:31 am

      Wow 11kg in 3.5 months is really impressive. Congrats on taking charge of your health.

  • Reply
    Dividend Diplomats
    April 19, 2019 at 6:40 pm

    Tawcan –

    Have to love spreadsheets. My wife always makes fun of me for my massive spreadsheet, tabs on tabs, on tabs. You’re investing goals are great – a challenge, but within a reach.

    Your travel hacking endeavor is great. Can’t wait to see how it all pans out.

    -Lanny

    • Reply
      Tawcan
      April 22, 2019 at 8:32 am

      Haha so I’m not the only one that goes crazy about spreadsheet then. :p

  • Reply
    Leif Kristjansen
    April 20, 2019 at 6:13 pm

    I’m impressed by how organized your goals are you are for sure going to crush your goals!

    I was never a great planner but my ability to follow through is fantastic and I embrace that to live my life. I ended up making non-planning actions like ‘I’m too fat to be a good role model dad’ to motivate myself to be healthy. Every time I look at my kids I get plenty motivated and blamo I’m skinny again!

    • Reply
      Tawcan
      April 22, 2019 at 8:33 am

      That’s an interesting way to keep you motivated. Propbably won’t work too well for me that’s why I’ms ticking with the excel sheet. 🙂

  • Reply
    Chris @ Mindful Explorer
    April 22, 2019 at 7:33 am

    Great list Bob, keep up the great work on the steps and the staying active. Also, I’ll keep my eye on that meetup you are planning for the summer.

    • Reply
      Tawcan
      April 22, 2019 at 8:33 am

      Thanks Chris, will let you know about the meetup.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.