Happy New Year! I hope everyone had a wonderful break, and may 2015 be filled with happiness, laughter, health, and wealth. Over the past few days, I’ve been crunching numbers and reviewing my goals, reflecting on the past year, and looking ahead. Here are the results of my 2014 goals:
Increase Net Worth by 30%
Last year was a complete failure, but this year, I can call it a success! Calculating net worth is challenging since I have assets in different countries and currencies, making it hard to estimate accurately due to currency fluctuations. By the end of the year, my net worth in euros grew by 31.5%. The dollar has been strong, and I made some smart moves buying dollars when they were cheaper. My net worth in dollars increased by only 19%, but when you apply the current exchange rate of 1 US$ = 1.20 euros to my January 1, 2014, USD net worth, it translates to a 33.75% increase. So, for me, that’s a pass. I haven’t updated the value of my properties yet, but I did include the value of the work I’m doing to build a new house on the beach in the land value. I believe the resale will exceed the building costs, though that’s a cautious estimate. I’m really pleased with this since I thought it might be another failure this year.
Make $60,000 Blogging
Another win—I earned a little over $70,000! What seemed like a stretch at the beginning of the year (making over $5,000 a month) has actually become the new normal. So, that’s a pass.
Keep Donating 10% of Online Income to Charity
I continue to donate 10% of my online income to charity, mainly supporting education projects in my Guatemalan village. This year, I’ve donated over $6,000 to send two honor students to boarding school for high school, buy uniforms and supplies for primary school girls, purchase 10 laptops and desktops, run a weekly 12-hour computer literacy class, buy books, and maintain a small library to encourage kids to enjoy reading. Additionally, I received nearly $3,000 in reader donations, which I fully passed forward. Another pass.
Turn a Profit with Land Development
Here’s my first fail of the year. We’ve continued investing in the land development by flattening streets, digging a well, and buying a beach to provide residents with private lake access. While we’re definitely moving in the right direction and my region experienced the strongest growth in Guatemala this year, all the investments have kept us in the red for now.
Make $5,000 with the Guest House
I haven’t nailed down the exact figure because I’m a bit disorganized, but I think this is another fail. I had a $1,000 booking over Christmas that turned out to be a hassle, and the guests left, so I owe them a refund. I prefer peace of mind over money. Without that booking, we’re probably around $3,500 to $4,000. I’m building a new house on another plot to move away from the guest house. As long as I still live on the premises, I’m okay with it being a small operation. Having guests around all the time would be annoying. Earning $5,000 was a stretch goal for the first year. I managed to pay the bills, staff, and make a small profit, but considering the property’s worth, the return was poor. I’ll promote it more once I move out.
Despite failing the last two goals, I still managed a 30%+ net worth increase, making it a good year overall. I haven’t clearly defined my goals for 2015 yet, but I will soon!
How was your 2014, and what are you looking forward to in 2015?