Lanny’s Q2 2017 Goals Update

The first six months definitely have been fun, interesting, lessons have been learned, passions explored and a renewed focus has developed.  I cannot wait to look at the half of the year coming up, sort of in a “the glass is half full” kind of way.  Learning more about yourself/oneself in a much more rapid pace, but still focusing on the areas that make me happy, as well as the true goal of financial independence.  This quarter marks another quarter closer to these goals and I’m excited to talk about what progress was made.

2017 Goals Re-Cap

This post helps me stay on the right path in case that I have steered off of it and also helps keep me on the golden brick road to the 12/31/17 end goals.  Below are the goals that I had established in January for this year, as a way to re-cap what I wanted to accomplish:

  1. Projected Dividend Income at $10,000
  2. Donate 3050+ pieces of clothing
  3. Increase Salary > Normal Increase
  4. Travel
  5. Study/New Certification

These goals, as you recall, are very different from 2016 – and shorter as well.  They are different because we all change over time, and I simply wanted to focus on a few things rather than 30 things.  Focusing on more is hard, especially when you are a public accountant, grinding 65-75+ hours per week in busy season and still have a heavy work load during the “off-season”, if there ever is one… One thing that always helps the monetary goals, however, which has been proven time and time again is – Saving over 60% of your income each and every month (however, life does happen sometimes!).  Further, the giving back and de-cluttering of a house has been something I’ve been very passionate about, creating space & time and adding value to someone else who would gain more value in an item than I would.  It’s been one helluva 2nd quarter, I will tell you that much.

June 30, 2017 Goals Progress

  1. Projected Dividend Income at $10,000: As of this quarter end of 6/30, I am sitting at a projected forward dividend income of $8,909.30 .  This is up from $8,453.45 back in Q1, or is an increase of $455.85 (5.39%).  First quarter I had an increase of $386.67, so what happened?  Well, first the bad news, Mattel (MAT), cut their dividend, quite a bit, negatively impact my forward income amount.  Next, my company does their once per year matching contribution to their retirement plan based on the previous 12 months, so I had a one-time “addition” to that portfolio (wish so bad they matched at each pay interval, as I am finding it more commonplace that companies do that).  Of course there was the dividend reinvestment of approximately $2,229 over the last 3 months and stock purchases, such as a few purchases into Grainger (GWW), and then a new stock of Cisco (CSCO) and Kroger Grocery (KR).  The combination of these capital additions, dividend increases, reinvestment, slightly offset by dividend cut, has allowed the income to grow by 5.39%, or an annualized amount of 21.56%, if only looking at this past quarter.  When looking at the six month period, my forward income is up $842.52 since end of last year, or 10.44%.  If we annualized the progress based on the six months, the annualized growth rate will be 20.88%.  Therefore, the 2nd quarter, obviously, was a tad better than the first quarter.  How am I doing, though?  I am in the yellow here, paying off my auto loan is still a priority, and I have less than $2K officially to go.  I need to increase my side hustles to bring in some extra capital to invest.  Conclusion: 40-45% chance I reach the goal and am in Yellow, territory here.
  2. Donate 50+ Pieces of Clothing: Now to begin – the original goal was 30, but I blew that out of the water in the first 3 months.  I have now increased to 50.  This goal was really about how nice it is to provide your clothing to others.  Not only that – but you get to clear out space in your own area, de-clutter, and someone can get value out of something that you aren’t currently receiving.  Lastly – there is a nice impact from a tax standpoint, since I itemize my deductions and this falls onto the Schedule A on the tax form.  I have donated an additional 11 pieces of clothing through the end of June.  Amazing, I had 31 pieces in the first quarter, plus 11 new pieces.  42 clothing items have been donated and no – this does not include socks, underwear or undershirts.  The last round was a never used track jacket, never used sweater, a few button polos, etc.. things that any individual could considering wearing and a few items were new!  This leaves me with 8 additional pieces of clothing to go, no changing the goal this quarter, but we’ll see what happens in Q3!  Conclusion: Green light, on track.
  3. Increase Salary > Normal Increase: I am currently in progress here, dang it!  More to come within the next 45 days, that I will be sure to write about.  Stay tuned, stay very in tuned to this one… (Bert knows what I’m talking about) Also, “merit” increases are occurring these next 3 weeks, which take effect on August 1st, so there is a discussion for sure happening.
  4. Travel: BOOM!  Done Baby!!  We have completed our roadtrip from 12:00PM on May 31st through June 7th.  We traveled from Cleveland, to Charlotte (1 night), to Charleston, SC (2 nights), to Hilton Head (2 nights) and then finished off with Savannah, GA (2 nights) before swinging on back home.  Over 1,600 miles and plenty of pictures & memories were definitely had.  I believe we would reduce Hilton Head time and increase Charleston time with Folly beach and reduce the overall trip by a day if we were to do it again.  We shall see if that trip will be in the cards in the future or not, but all in all – saw so much!  Here are a few pictures below:

5. Study/New Certification: No progress here, I blame myself for not taking advantage of every hour, as there is still time that isn’t that useful, I know I don’t procrastinate as much, but there are still ways for improvement, no doubt.  Conclusion: Not even on the radar screen.

Overall Q2 2017 Goals Conclusion

Not too bad of progress thus far.  As I stated in my June dividend income summary, there are some more dividends to makeup after Mattel (MAT) cut their dividend.  Additionally, I do have  6 months of dividend reinvestment and dividend growth to occur.  I plan to spend the next few weeks to continue to go through my clothes and possessions (actually, in between this writing – I have donated 3 coffee mugs to the office I work at – does that count???).  This will further reduce things I own, give back to someone who can gain more value from an older possession of mine.

Further, Bert & I have been putting more efforts into our side hustles, earning more income – whether that is selling items on eBay or one of the other areas we talk about on that article – we are pushing and wanting to make every dollar count, no doubt.  Though not one of the goals, this has been taking a focal point lately.  What’s been amazing about selling these items on eBay (as I believe I’m at 6-7 items through the last handful of weeks), is the space and “free-ing” feeling you receive, definitely addictive.  Also, I’ve been more serious about health and eating and similarly that it is not a goal, this is something I want to keep up and begin to question, “Do I want that in my body?”?  It has changed quite a bit.

How about you?  Making massive progress on the things you want to do?  Following what provides you happiness and helping others along the way?  Learning anything new?  Coming across any challenges that you ended up learning from that we could all take something from?  Please share, would love your feedback, stories, to hear your progress and how you feel about my progress above.  Enjoy summer, take the warmth it and go at everything with 100% of you, 100% of the time!  Talk soon and thanks again for stopping by!


23 thoughts on “Lanny’s Q2 2017 Goals Update

  1. Lanny,

    I always love following along your life updates. Great read!

    As for me my income comes mainly from work + freelance. (salary increases based on performance or jumping ship, along with side hustle when it’s there.)

    Stocks to watch:

    Abercrombie (ANF) (9% dividend, just dropped 30% after they declined selling their business, which I actually think is a good thing)

    AMC Theatres (AMC) (4% dividend, just dropped 10 points after disappointed summer blockbuster numbers)

    CPLP (8% dividend, shipping company in Greece that if they refinance debt on Friday could jump 25%)

    • Mike –

      Appreciate the comment sir, always pumped to find someone who enjoys following.

      love the free-lance work – how often have you jumped ship, by the way? Curious on your journey! Love side hustlin, no doubt.

      Do you think ANF can get back to selling their apparel? Interesting on the AMC front, as I don’t think they were hit too hard with the recession, I’d have to double check. Good movies in the pipeline, right?

      Interesting on CPLP – how did you stumble onto them?? haha.
      Thanks for sharing and hope to talk soon.


      • Tread cautiously on AMC.
        1) No history of dividend growth
        2) Cyclical based on strength of pipeline
        3) (most important) July 17th, China placed capital control restrictions on Dalian Wanda (80%+ shareholder of AMC). Although not a direct impact to AMC, Wanda may need to deleverage assets which may impact AMC’s share price if ownership stake is reduced.

  2. Lanny, great post about your 2017 goals. Like you (it seems), I find it hard to focus on all my goals equally. (One of my goals has zero progress so far). So, I definitely agree that having fewer, well-formulated and stretching goals are better than having many listed goals that are defocusing.

    It’s a pity about the MAT dividend cut but hang in there on your projected dividend income goal. While it may seem unlikely to achieve it now, you never know what might happen in the second half of this year. A side hustle may pay off big-time and allow you to boost your projected dividend income “just-in-time”.

    Take care and happy investing!

    • Ferdi-

      Thank you for stopping by. It’s okay on the zero progress, maybe there is another thing that you wanted to focus on, instead, but finishing something you start is key.

      Ferdi – you are exactly right – a huge side hustle (I’m selling like mad on eBay) and bringing in other ways to have extra income to invest further.

      Love the comment and keep it going! Talk soon.


  3. Hey Lanny,
    I like your goals! Donate 50+ Pieces of Clothing: conclusion: you have too much cloth in your wardrobe! hahaha! When we left for Central America, I got used to live with 5 t-shirts, 2 shorts and 2 swimsuits. I barely wear more than that since I’m back home 🙂 I like the fact I won’t have to purchase much clothes in the future!

    • Mike –

      You are DAMN right… it makes me sick, truthfully, it does. I have now sold 3 pairs of pants and a t-shirt on eBay this month and that seems to be rolling very well lately. Then, there is the donation aspect – hoping to break 50 by the end of the quarter, no doubt. Not purchasing clothes in the future = more money to use for better purposes/value. That’s what it’s all about. Thanks again Mike.


  4. Great list of goals. That is the thing about a list, it is hard to accomplish every single thing on it. Especially if you put time constraints on it. Can’t do them all at once. But like you said, the best thing you can do is give 100% and keep plugging away at the items. Doing pretty well so far for the first half of the year. Looking forward to seeing the updates after the second. Keep up the great work!

    • Daze –

      Thank you for your comment. Giving 100% towards what you want to do, i.e. this list, can only provide some form of results. Quitting/going half-ass won’t get there, that’s for sure.

      Appreciate the stop by DD, talk soon and time to keep my feet moving.


  5. Yeah, ouch about that Mattel dividend. Can’t say we didn’t see it coming, though. I sold what I had of Mattel in June, taking the last dividend and a small capital gain, and running away screaming. Do you think they’re going to make a comeback?

    My goals for July are keeping up with Meal Prep Sunday (where you make a week’s worth of meals to freeze on Sunday, and then don’t have to cook or eat out during the week), biking more to build stamina (so I can eventually go from a $120/mo unlimited train pass to a pay-per-swipe metrocard… slashing my already dirt cheap transport budget), and opening a solo 401(k) (green light! I submitted the paperwork today). Yay goals!

    • Meow –

      Nice work selling MAT, can’t believe you had a capital gain! As far as a comeback – management needs to focus on the consumer, that’s all I have to say. I still own them.

      That would be SWEET if you could cut that large expense (or small expense, depending on how you look at it) and DEFINITELY get your FIRST contribution in on that solo 401k. Will you be writing about that?

      Thanks again MW, talk soon.


  6. De-cluttering is always good! It can be a challenge sometimes though, as I don’t always like to get rid of things. I try to keep in mind whether I have used or worn something in the last year or so. If no, I seriously consider donating it. One of the benefits of being frugal and not liking to shop is not having too much de-cluttering to do!

    Glad you had a good visit in SC. Nice pictures of Charleston and of the Angel Oak – it truly is a magnificent site to see!

    • PM –

      Thank you so much for your message – it can be tough – but each item I’ve gotten rid of – it causes me to want to pass along more items, contagious no doubt. I use, easily, the 1 year rule, even a 3 month rule. I would say I’ve benefited form the lack of accumulation in the last 3 years, its the older years that caught up to me!

      And love that you enjoyed the pictures, the Angel Oak is MASSIVE!!! Talk about old there, very cool to see.


  7. Looks like youre doing pretty good Lanny! My wife and I really enjoyed Folly beach when we were in the Charleston, SC area as well. If I remember correctly it was a tad expensive to buy a place down there but my wife and I could definitely see ourselves living in a town like that when we are older.

    Good luck with the pay increase. Going to be hard to beat the annual raises from dividend stocks!


    • ADD –

      Nice, we said we would def. do Folly Beach for a full day instead of Hilton Head. A very fun/cool town but VERY expensive to live there, easily. It would be a great place to visit in a few years from now, to try a few new places and see if there is a new piece of history to take away from it, you know?

      Appreciate it – and yes, dividend increases are the best – that’ll be my goal then – to at least beat my average div increase, which is between 5-6% on the portfolio!


  8. Goals are tough. Still stuck at 190 lbs although my muscle mass has been improving. I have learned to not worry about it so much as long as I am exercising and eating decent. Good luck on your remaining goals for the rest of the year. BTW I need to sell a crap load of stuff, thanks for reminding me.

    • DFG –

      Goals need to be tough though, right? If you’re muscle mass is improving – then you burn more when you don’t work out! And yes – it’s about eating healthy and feeling the same.

      I appreciate the luck and I’m going to keep selling & Donating!! Pumped.


  9. If I’m not mistaken, that’s the tree of life in New Orleans, right Lanny? I visited there this past May on my vacation. That trip is still one of the reasons why I’m broke. hahaha. I’m glad you’re making great progress on your goals for 2017. What’s good is that you’re making great progress while also enjoying your life now. The long work hours and dedication to meeting your yearly goals will definitely pay off in the long run. Awesome update Lanny, and good luck on meeting the 10k dividend income goal for the year.

    • DP –

      That’s actually the Angel Oak tree over in Carolina! But New Orleans has some pretty amazing sites as well haha.

      Hard work produces better results. As they always say hard work beats talent went talent doesn’t work hard. Onward to the next day to progress closer to where I want to be!


  10. Nice work Lanny,

    Looks like even with the income goal of the yellow, things are progressing forward nicely. Redeploying capital and purchasing new stocks should pay off in the longer term. Awesome work!

    I spent two nights in Charleston for work last month and it was absolutely gorgeous. I could retire there for sure! Lots of surprising new development as well, with auto plants to the west of town. Making for a still picturesque downtown and nice metro area.

    Always enjoy the update, thanks for sharing!

    • SSDD –

      Oh Nice!! It’s funny how I’ve talked to a lot of friends & family and not many have made a stop in Charleston yet. Definitely worth going at least at one point in your life to take in the culture, history and the “withstand of time”. Appreciate the post and hope you are enjoying summer and knocking out debt/pursuing freedom!


  11. Hey Lanny,

    tx for sharing your goals and progress. – i like that you included travel to your list of goals. For me saving is very important cause that’s where the ammunition for investments comes from, but a life without travel is not my way, although i’m not a globetrotter…Your road trip to Charleston and Hilton Head sounds great. – I’ll be at the north sea in Germany this year for a short vacation and to NewYork City for a few days…it will burn a small hole in my savings rate, but i know for sure that it’s worth every single dollar.
    Concerning my goals for 2017 i’m on track, but when looking back the goals were a little too easy to reach.


  12. All in all it looks like a great update. I like the shift you made to focus on smaller streamlined goals and less on the nitty gritty – we did the same this year with a very short list of goals (and we haven’t even done a goals update – oops!).
    In the end it seems like you’re succeeding in the goals that make you feel good and get the most life enjoyment from, nothing wrong with that at all 🙂

    Mrs DDU

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