I am reading through many other people's goals for 2008 or 2009. Most of my goals are long term, and I just make sure I do certain things towards the goals each year.
goal 1: 15% retirement contribution (my 401k, wife's 401k, my Roth, her Roth). If all adds up (current plan) it will be ~20% for 2009.
5k to my Roth
5k to wife's Roth
8k to my 401k
3k to wife's 401k
goal 2: get EF back to 12k by end of 2009. We tapped into it in October of 2008 and by my calculations it should be close to 12k by end of year (it is 3k now, gets $300/mo, plus tax return, plus $300 should increase to about $500 by october). HR block income might go to EF as well.
goal 3- take 3 vacations. We are camping Memorial day weekend at Letchworth state park (NY) with my cousins. Also considering a weekend to either NYC or Chicago around thanksgiving, and maybe a Vegas trip too.
goal 4 (this one is the most important one)- make sure I do not kill anyone anytime soon.
goal 5- I would like to get 4-10 clients for my financial planning business as well.
2009 goals
December 17th, 2008 at 03:33 pm
December 17th, 2008 at 03:55 pm
December 17th, 2008 at 06:32 pm
Doesn't this time of year just bring out the best in everyone?! NOT!
December 17th, 2008 at 07:20 pm
December 18th, 2008 at 03:43 am
December 18th, 2008 at 07:37 am
Are you starting a college fund for your kids? I also put down rebalancing my portfolio for Q1/Q2 2009. Just a thought.
December 18th, 2008 at 09:59 am
Rebalancing my portfolio's generally happens every month with new contributions.
No college fund- I am planning to pay off my mortgage then pay cash for the education. It will take me about 15-20 years to pay off my mortgage right now.
December 20th, 2008 at 05:51 pm
December 21st, 2008 at 07:13 am
over 18 years the risk/return profile of a college savings plan and a retirement plan are different (different time horizons).
Child ages 1-6 would be fully aggressive. Maybe 7-12 follow similar. Last 6 years have to be real conservative.
1-6 might be 80-20 or 60-40
7-12 would be 60-40 or 40-60
12-16 would be mayne 40-60 probably 20-80 or 10-90
last 2 years would be 0-100
If that same money was in a retirement account, it could maintain 80-20 or 60-40 for whole 18 year duration- thus higher returns.
I think one double in 29 is reasonable (over 18 years). Two is pushing it.
December 21st, 2008 at 07:15 am
one other point, we are not pre-paying mortgage yet, that money ($700-$1000/mo) does not come available until 2010.