|December turned out to be an exceptionally great month for earnings - the best of the year and my all time second best. Christmas expenses notwithstanding, I was able to save 63.74% of net income for the month. For that, I am truly thankful. We were, however, not able to completely rescue the 2016 figures in what was undoubtedly a challenging year for earnings: Top line Revenue for the year declined by 18.62% and Net Income fell by 22.52% compared to 2015. Consequently, I did not even come close to my S&I target of 45% of Net Income, registering instead 28.38%. As disappointing as this is, it actually marks quite a spectacular comeback over the last four months given that Y-T-D S&I stood at a woeful 3.41% at the end of August.
Highlights of the Financial Year: Both Business and personal expenses came in under projections; Passive Income handsomely exceeded expectations coming in at $25,215.87 for the year. This represents 53.95% of actual personal expenses for the year and a giant stride in the journey towards Financial Independence; I liquidated several stocks in my Trading Account at above-target prices and used the proceeds to continue building my Social Enterprise Fund - I have been ready to launch for a few months now but have not been able to secure the desired parcel of farm land. This MUST be done in 2017; While not hitting my 2016 NW target, I did have quite a satisfactory increase of over $129k - 30.66% in JMD and 20.96% after allowing for currency depreciation and over two times my Net Income this year.
I expect to be faced with some very significant expenses in 2017. As such, it is imperative that there is a dramatic increase in earnings. Even so, I will be forced to adjust my S&I target to below the minimum desired benchmark of 40%. I expect Passive Income to continue to grow.
I will continue to focus on building my relationship with my six y-o daughter, improving my health and wellness, being more disciplined in all my endeavours, being genuinely thankful for all my blessings and making my little corner of the Earth just that little bit better than I found it.
A wonderful and better-than-planned 2017 to you all. PEACE.|