Everyone should have goals. Here are mine for 2013.
- Get portfolio up to $672,750: The whole point of this blog is to document my efforts to retire early, so growing my portfolio will always be goal numero uno. I started the year off with $586,043. I think that the stock market will have a pretty good year, so I’m counting on at least a 10% return. Combine that with the $24,000 I plan to save and the magic number comes to $672,750.
- Keep track of all spending: We started keeping a notebook on the kitchen counter. Every time we spend money, it will be recorded in the notebook. At the end of every month, we’ll evaluate our spending in an effort to improve. Its an eye opening exercise that I encourage everyone to try.
- Save $2000/month: I need to be a better saver and I actually think that I can do a lot better than 2K, but this seems like a fine place to start. Savings will be divided between my company’s 401(k), microlending (Prosper and Lending Club) and building up cash reserves.
- Lower my exposure to stocks: Buying individual stocks is not recommended. Most professional investors can’t beat the indexes, so there is no reason to think you can either. However, in my younger and more foolish days, I did buy stocks in some tech companies that I liked. I held onto them and now those stocks have grown to become a third of my portfolio (Danger Will Robinson! Danger!!). I’ll be selling some of these stocks and putting the money into income generating investments (P2P lending and rental properties).
- Move: We just moved to Colorado for all of the outdoor goodness the state has to offer. It had been an old dream that took a couple years to accomplish due to the depressed real estate market. Our euphoria with moving quickly turned to discomfort when we became more familiar with our new area. Instead of hikers and snowboarders, we discovered that our new neighbors are all spendaholics. They are constantly buying new junk to fill some void in their lives. The level of waste I see around me is staggering (future post). I don’t want to live around people like this and I also don’t want my children to grow up in this environment. In the spring, we’ll list our home and say good-bye (good riddance?) after just a year. We’ll probably stay in Colorado, but rent first so we can be sure of our new neighborhood (Fort Collins, Loveland and Longmont; are you listening?).
- Grow my microlending account to $10,000: I’ve been on Prosper for over 2 years and Lending Club for almost that long. I think that both are great and I can actually see microlending providing a significant amount of living income some day. I have about $5,700 in them now.
- Purchase a rental property: This one is a bit of a longshot due to the upcoming move. I want to be really familiar with an area before purchasing a rental. Being that we’re unsure of where we will end up, this may or may not happen in 2013.
- Double my cash: I have about $6,500 in cash right now, not a very big safety net. I’d like to get this up to $12,000.
- Blog here 3 times/week: I hope to publish new posts every Tuesday and Saturday with a Thursday rant.
- Hike 5 14’rs: The joy of living in Colorado is having close access to a massive, outdoor playground; the mountains. I’m going to hike 5 new 14’r in 2013.
What are your goals? Leave a comment or contact me!
Join the 10s who have signed up already!
Subscribing will improve your life in incredible ways*.
*Only if your life is pretty bad to begin with.