Biggest goal for next year

My current biggest goal is to save enough money for a down-payment of our own apartment. In Lithuania, you need to have at least 15% of apartment’s value in order to get a mortgage from a bank. This means that me and my wife should save around 15-20k EUR with current apartment prices in Vilnius (capital of Lithuania). In my opinion, the prices are inflated at the moment and I am hoping for a correction in the near future.

I am planning to sell my stocks when we reach the required sum. It will be heartbreaking to sell stocks from my portfolio but I am sure that it will make sense in the longer run. Currently we are paying 540EUR/month for our rent and I am expecting to pay up to 400EUR/month for mortgage when we eventually buy our own place. Since my portfolio does not generate even 100EUR/month, it will be worth to sell everything and start over. I will then be able to put aside more money each month to be added to my portfolio so hopefully the snowball of dividends will start rolling quicker then. The goal is for the portfolio value to reach 10000EUR until August of 2018. This is a long stretch and I am not sure if I will be able to achieve that but I think that the goal is supposed to be challenging. What’s the point if it was easy? I am setting a goal to grow my portfolio to 5500EUR until end of this year. Since my portfolio is currently worth ~2500EUR (in August), I will need to add additional 3000EUR considering that market value of portfolio will not change. I would need to increase the portfolio by 600EUR each month. This is a stretch but let’s see how it goes.

An obstacle is the fact that we don’t own a car at the moment and are planning to buy one soon. If we do that now, it will be hard to reach the goal for this year (unless we buy a really crappy one). We managed to live without a car since March 2017 and so far we didn’t have a lot of inconvenience. Good thing is that we rent a place which is 10 minutes away from our workplace on foot. So maybe the plan to buy a car will be postponed even more if we decide that we can manage to live without it for a while.

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