Now that I've told you the "woulda, shoulda, coulda", I'm going to share what I plan to make happen over the next 10 years.
1. Within the next 6-12 months I'm going to take the personal trainer examination so that I can become certified. I just need to study. Would someone give me a swift kick of motivation, please?
2. Pay off all debt for my husband and me within the next three years. My credit card will be paid off by this time next year. Then the focus will be on my husband's debt. In addition, I'm probably going to take on a $4K loan this year, but more on that later.
3. Go back to school for dietetics and nutrition within the next 1-2 years. Getting into the health and wellness business now will allow me to start my side business and work at something I enjoy when I retire from my day job.
4. Turbo save and turbo invest. I'm only putting 1% of my income into my 401K because debt reduction is my immediate priority. As the debt comes down, I want to increase my savings by the amount that I'm reducing the debt and more, if possible.
5. Increase the emergency fund to 3-6 months worth of income. My plan is to make a deposit equal to one month's debt reduction amount each time I pay a debt to zero balance.
6. 5-10 years down the road I would like to buy a condo in an active senior community in a warm climate state. I'm thinking North Carolina, South Carolina, Florida, Arizona, Hawaii--a state like that. My husband and I could rent it out until we retire. Once we retire, we'll have a place to live.
7. Retire from my day job on or before December 31, 2017.
This is my official record of my 10-year plan. I think it will be fun to look back at this from time to time to see how I am doing. No more "woulda, shoulda, coulda". Now it's just make it happen!
Thursday, January 24, 2008
The Ten-Year Plan
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6 comments:
Hi - great goals. I noticed on the ones to improve your education, the dates are a little flexible - and you said you need motivation.
I think if you put fixed dates on achieving these, it will be easier to motivate yourself. Also, concentrate on the benefits of having those qualifications and focus on them. Good luck.
First of all...Good for you!
It is important to have a well thought out plan as it is the only way to make sure you end up where you are going.
My ONLY advise would be to have a smalle Emergency Fund, pay all debts (save mortgage) then get the 3-6 savings. Negative compounding of interest means it will take you longer otherwise.
Best of Luck!
Personal opinion here, but I think North Carolina is still too cold (I live there now)! Your plan is solid...it's such a good idea to put it down on digital paper!
great goals and a great idea to put them online its makes you more accountable. Have you stuck them somewhere on paper at home, I have mine over my pc.
Good luck with your plan:)
Great job on setting up those goals for yourself! Congrats!
Super goals wealthy_1...
Like that corny saying goes, "If you believe it, you can achieve it!"
I kind of like corny sayings...
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