Here is a monthly update on our annual goal's progress.
First goal, re-establish our emergency fund:
Target: $12,000
Progress: $555 (4.6% completed)
- We had to use our emergency fund to conduct some house renovations.
- We will have to increase our contributions to our registered accounts in order to offset additional income tax we are expecting for 2021. This is creating doubt on whether we can reach this savings goal.
Second goal, increase annual dividends:
Target: $100
Progress: $45 (45% completed)
- So far in 2021, we have received $45 in dividend income.
- Based on our current portfolio, our expected dividend income for 2021 is $113.67. We are well on track to reach our goal.
Third goal, debt reduction:
Target: 6.9%
Progress: 36.2%
- This is the portion of our net worth that is taken up by our liabilities.
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