For any type of venture you embark on it’s important to set goals. What is special value investing versus other types of trading or speculation, is that the action of buying the stock and watching your stock’s movements is the least important part of the process. Your personal growth path and investigating businesses is much more important. Setting goals is key in order to keep you on the path.
I have a money growth focused goal and mind growth focus goals. Today I’d like to share these goals with you to hopefully inspire you to set your own goals. I use some frameworks that you can copy and use for yourself.
Money Growth Goals
I use the OKR (Objective-Key Result) methodology for my goal setting but there are other methods ex. SMART goals. OKR is my preferred type because it’s crisp and clear and ambitious. If you want to learn more about OKR’s there’s a couple of great videos out there for example this TED Talk with John Doerr.
Objective: Freedom to focus on my passion and receive lovely experiences the world offers with my family. Money works for me.
Key result: Accumulate $1 million within 5 years (13th July 2025). (7 million DKK)
Freedom to focus on my passion (which is value investing), money works for me and that I with my family getting unique experiences the world offers. I want to spend less time on ex. household jobs that bring me little pleasure, I want to be able to take my family to experience the delightful wonders of the world.
I’ve broken down this goal into smaller increments, so it’s crystal clear what I have to achieve every year and every month. In order to reach my goal, I need an annualised increase of my money of 124% and in 2021 that means I have to accumulate 234000 DKK – 19500 per month. I currently achieve this by saving and investing. However in the long term I won’t reach the goal if I focus on only saving and investing.
This is why I’ve taken a step to start this blog and other types of content production that will help me generate a revenue. The revenue would come from ads for example on my videos (so do me a big favor and follow my YouTube channel – I need 1000 subscribers to be able to advertise. In return of subscribing you’ll get my investing advise).
In the future I would like to expand my business to providing coaching, courses and webinars about investing (it will not be financial advice, because I’m not a financial advisor) and to build a community.
In return for what I receive, I will educate others about value/GARP investing and provide valueable service to others.
Mind Growth Goals
Unlike my money growth goal my mind growth goal doesn’t have a destination – it’s an ongoing focus area. I’ve made a structure that fits my life with work and family, and you can use my framework as inspiration for your own growth, but tailor it to your situation and your time.
1) Have an investing topic to deep dive into every month
- Plan topics in July and January
- When planning: acknowledge there’s difficult topics, try to also plan for how to cope with procrastination when topic is difficult.
2) Peer to peer sparing and community– find likeminded to connect with: mastermind groups, value investing community connections.
3) Course work. Participate in at least one relevant workshop or seminar a year.
For example I study on weekend evenings and I use my phone calendar to remind me that now it’s time and I get an overview of the topic and potential notes/ resources to use to study the topic. I participate in mastermind groups with likeminded where we discuss wonderful companies, strategies, goals etc.
I hope my approach can help you set goals for your own investing journey. I would love to hear from you to get inspiration from your ongoing growth or money practices, so comment below or contact me via the contact form. I’d also love to hear from you about which courses. Webinars or Coaching sessions that would help you in your investing journey – it would be great inspiration for my business and I would be incredibly grateful to receive any advice you can provide.