Monday, December 11, 2006

An explanation of our 2007 goals

Here are a few quick thoughts regarding our 2007 annual goals:

Networth - although it looks like we'll surpass $100k in networth growth in 2006, 2007 will be hard to achieve the same increase for several reasons:
  • We will be moving to IL - moving expenses, closing costs for buying and selling, home furnishing costs
  • My wife will be changing jobs - lost income for 2-3 months
  • Cost of living increases in IL
  • Many one time costs related to moving
  • Redomiciling our living trusts and irrevocable trusts from NC to IL - legal fees
  • I don't expect to be as tax efficient due to the demands of my new job

Savings seems self-explanatory.

Health - I really let myself go with my wif'e's recent pregnancy - call it sympathy weight. I need to take it off. I haven't felt fat like this in ages.

Investments - due to the job changes, move, home purchases and sale, etc... my investment advisor and I agreed to put things on hold until we were settled in IL. However, we also agreed that I should move our investments to lower cost institutions with lower cost products that would be more aligned with our investment agenda. Once settled, we will pick up where we left off and most likely enlarge the assignment to become a full financial planning process (not just investments).

Strategic and other should be self-explanatory.

Please share with me any thoughts or recommendations.



1 comment:

fin_indie said...

Hang in there and stay focused. Your post reveals that you are methodical and keenly self-aware, and those traits are definitely shared by other successful people...