Tags: planning, saving, home economics, goal setting, financial planning, budgeting.
Net worth
- Increase net worth by $80,000.00.
- Strech goal, increase net worth by $100,000
Savings
- Save to meet net worth increase requirements (in addition to investment returns)
- Restore operating cash reserve to $33,000.00 by end of March 2007
- Increase operating cash reserve to $50,000.00 by end of December 2007
- Contribute at least $20,000 to 529 plans
- Make retirement contributions for Mom, Dad and Children
- Fully fund Mom & Dad's 401k
- Fully fund traditional IRAs with post-tax contributions
Spending
- Move into and furnish new house (basic furnishings) ($5,000 - $15,000)
- Repay unleveraged debt ($8,124)
- Big family vacation ($3,000 - $9,000)
Health
- Lose 15-20 pounds
- Exercise regularly
Investments
- Move investments from Schwab to Vanguard and Fidelity (only individual 401k)
- Shift out of life cycle investments into low-cost index funds and index ETFs
- Restart investment planning process once settled in new home
- Complete financial planning process with financial advisor (budgets, insurance, etc...)
- Finish the liquidation of variable and cash value insurance products
- Reduce the number of investing accounts (if possible)
- Make sure investments rebalanced regularly
Strategic & Other
4 comments:
Your goals are awesome. Outside of the financial ones, I am most impressed with the Daddy Day's and Dance Lessons.
It is a truly rich man whom can balance these things in his life that matter most.
D,
Thanks for the wonderful comments. Daddy days are something I aspire to and manage to accomplish - at least with the older ones. The youngest are a bit too young to be aware - within a year that will change. The youngest get Daddy moments.
The dance lessons are something my wife and I have done on and off for years. After practicing together for a while, it's thoroughly enjoyable, but rough when we first start.
Of course, I'm uncertain as to how the new job will affect work-life balance. My boss seems to be challenged with this matter - though he holds it in very high esteem - perhaps, for him, it is more of an aspiration and goal.
regards,
makingourway
You might find this interesting:
http://www.nytimes.com/2006/12/12/education/12tuition.html
I've jsut reviewed my goals for this year. At the end of Q3, my bed's fairly well made.
With exceptional effort I can improve some of these items, but not everything. It will really be a question of priority.
Next month I'll try to make a formal assessment.
The big points here are:
1. Cash reserve $11.5k - quite a bit lower than expected, however, I did convert about $25k of prior balance into investments.
2. Blog traffic has not been as succesful as planned (to date) - about 66% of year end goal.
3. quite a few of my family and personal actions never came through - especially due to the overwhelming impact of the new job.
On one note, my networth goals so far have exceeded plans, however, in light of my personal / family goals not being met, I'm uncertain to say it's a superior accomplishment.
Regards, makingourway
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