In terms of better late than never, I will dedicate this blog post to my goals for 2019!
I will split my goals into two categories. Goals regarding this blog and goals regarding my investments. Being new to blogging, having specific goals will really help me succeed.
My 2019 goals for FinancialChipmunk.com
1. Post 100 blog posts.
100 blog posts looks daunting, especially since I’m just starting out, but I really think I can do this. This is just needed to build the online presence of FinancialChipmunk.com. But also to show to myself and the outside world I am serious about blogging.
2. Post monthly net worth update articles
One reason I started this blog is to track my (long) journey to financial freedom. But also to show to others who want to embark on the same journey how to do it. To track my progress, I will post monthly updates about my net worth, savings rate and investment portfolio.
3. Post 10 analyzes of public companies
I like to analyze companies by learning about their business model, going through their financial figures, etc. I want to write at least 10 posts of different companies I am interested in.
My 2019 investment goals
1. Invest €15.000 in my mortgage savings account generating 4.3% tax and risk free
In The Netherlands, we used to have a type of mortgage which required me to pay off 50% of my mortgage over the duration of the loan. The mortgage payment comprises of interest and an amount that is deposited on a mortgage savings account generating the same interest as the interest rate on my loan (4.3%).
The benefit of this mortgage is that I can make full use of the deductibility of the interest payment (the principal amount of the loan does not change over time). At the same time I build equity in my home through a savings account that generates the same interest as the interest on my loan.
Obviously I need to repay the loan 100%. But for remaining 50% I can decide how and when to do it. I have a mortgage of €260.000 of which I need to save 50% (€130.000). I need to deposit this amount in a blocked mortgage savings account over 30 years. Actually, I am decreasing the duration of 30 years by depositing higher amounts than required. That’s exactly where the €15.000 is for.
This way I can pay off €130.000 of my mortgage in about 5 years from now. This reduces my monthly mortgage expenses significantly while giving me the option to refinance and possibly buy a rental property. But that will be a goal for a few years from now. Hopefully, the real estate market in The Netherlands has cooled down by then!
2. Invest €7.500 in my personal investment portfolio
Investing is the key to building wealth. Saving cash and building my investment portfolio is essential to achieve financial freedom. I will invest this €7.500 in individual stocks and index funds on a monthly basis.
3. Invest €2.500 in the investment portfolio of my kids
Everyone wants the best for their kids, myself included. My kids are still very young (4 and 2 years old). The perfect age to invest in the stock market. I will help them a bit of course and time will do the heavy lifting for them. I will invest the €2.500 in index funds on a monthly basis.
What kind of financial goals do you have for 2019 and beyond?