With the last day of the year happening tomorrow, I’ll take a moment to tell you where I’m at with my investment situation at the end of 2010 and where I want to be by the end of 2011.
As the title of this post says, I’m “right where I want to be.” I’m a hair or two over the point I set for myself to be at by the end of 2010. My 2011 goal is to double my portfolio’s value by the end of the year.
Doubling my portfolio’s value will not be an easy task, but it is not as challenging as it might seem. Why? First, I estimate that 70% of this gain will be covered from additional funds I deposit in my account. If my investments do not appreciate and I receive no dividends throughout 2011, I will be able to reach 70% of my total goal from deposits I foresee coming into the account.
Secondly, based on the information I just divulged, I need to realize an average annual return of 60% from my current portfolio value to bring me to my 2011 investment goal. Though this is quite a high annual return, I will have some help. I assume that the funds I regularly deposit into my portfolio will not sit idle throughout the year. If they are invested into stocks or funds that appreciate that will help me meet my goal.
My 2011 investing goal is going to be a challenge. If you have not already, take some time to sit down and set a few investment goals for yourself.
I encourage you to share what you hope to achieve in 2011 via the comment section below.