#101 Goals for 2020

At work I have become a big believer in having a handful of really clear goals.

Let's see what I can put together to allow me to shape 2020 financially.

First off, where do I expect us to be based on current commitments / funding.

By the end of 2020, as it currently stands...

• Workplace Pension value will likely be around £58k 
• SIPP value will likely be around £3.5k
• We will have £3.8k within workplace share-save, this is addition to money committed to holdays
• Global index fund will have zero invested
• Dividend portfolio will remain around £350, pounds not thousands of pounds 
• Emergency savings will remain £5k assuming not used nor added too
• Each child will have around £2k invested in cash ISAs 
• Mortgage will be reduced to roughly £381k

What do I want to most improve?

1. Global index fund to have more money invested for wife and I
2. The kids to have investments in a global index fund
3. Dividend portfolio to be of greater value
4. SIPP value to be higher
5. Mortgage value to be lower
6. Emergency savings to be higher
7. Workplace pension to be higher

What options do I have to make this happen?

1. Monthly savings investments. I guess about £300 available to invest if we are sensible
2. Bonus of roughly £7k - post tax - due in March

Therefore what shall I do, and what are the targets?

1. Provide an update each month to detail monthly spend and wealth.
2. Set up a direct debit of £200 per month to go into Global Index Fund. Target £2k by the end of 2020. This is half of what we had invested in this fund at our peak in 2019. DONE
3. Set up a direct debit of £50 per month each for the kids to invest into a Global Index Fund. Target to have £550 invested each by the end of 2020. DONE
4. Although I've prioritsed the SIPP, Mortgage and Emergency savings over the Workplace Pension, when it comes to my bonus I think it's safest, so we dont just spend it all, to transfer 50% directly into my workplace penson. This would add £7k and therefore the target would be concluding 2020 with £65k invested in my workplace pension. TO DO

That would leave £3.5k post tax from my bonus. 

If I split that with the wife it gives me £1,750. 

My current plan is to split this into 8 £200 chunks, and allow myself to make one £200 dividend portfolio purchase per month until it runs out.

This should allow me to focus on investing it rather than spending. Force me to use it slowly. And provide me with enough motivation to become re-interested in that side of investing... which I feel is really important to maintain a semblance of control over our money.

Goal 4 would then be to go from having £350 invested in dividend portfolio to having £2k invested.