My Personal Finance Journey

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2008 Financial Goals

Contributed by mm | January 11, 2008 2:45 AM PST

6356-target.jpgStarting in 2004, I have always published my annual financial goals at the beginning of each year, and reviewed the result when the year wrapped up. It is a great practice that allows me to keep a record and learn from past experience.

Having spent most of my December to complete my 2008 Financial Plan, I found it might be time to summarize and publicize my financial goals for 2008 in this dedicated post.

Measurement #1: Net Worth Growth

Goal: Net Worth of $1,120,000 by the end of 2008 ($225k annual growth)
Stretch Goal: Net Worth of $1,150,000 by the end of 2008 ($255k annual growth)

Comments: Net worth growth always comes at the top of my annual financial goals and this year will be no different. We are anticipating a challenging year and our net worth improvement in 2008 is likely to be smaller than that of 2007. However, I still want to assign myself a stretch target that exceeds our detailed plan by over 10%.

Measurement #2: Absolute Investment Return

Goal: Annualized Return Rate of 8% in Self-Managed Portfolio
Stretch Goal: Annualized Return Rate of 10% in Self-Managed Portfolio

Comments: 2007 is a volatile year and the common wisdom is 2008 will be even more volatile. Still, I look to manage the portfolio to deliver reasonable absolute return through proper asset allocation and diversification.

Measurement #3: Relative Investment Return

Goal: Beating My Investment Benchmark by at Least 0.5% in 2008
Stretch Goal: Beating My Investment Benchmark by at Least 2.0% in 2008

Comments: Obviously given our asset growth over the years, more of our future wealth accumulation will come from asset appreciation versus more savings from earned income. That's why I feel it is necessary to add the second measurement for my portfolio performance. In 2007 I successfully managed our portfolio to exceed benchmark by 1.79%, and I look forward to another benchmark-beating year.

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This Post Has Received 9 Comments. Share Your Opinions Too.


Jenni Commented on January 11, 2008

You should be really proud of yourself by doing this great in such short time. But I think that you would feel pain as most of us in 2008. You have too many financial stocks, which you cannot sell, and it will go worse again this year. BOC is a sample, bought countrywide was not a smart move in my point of view unless fed was involved.


Mortgage Loans Commented on June 5, 2008

So what do you do for work? Are you a full time blogger pulling in $225K/year, or do you have a "day job"???

Congrats on all your success and milestones!!!


Mortgage Loans Commented on June 5, 2008

So what do you do for work? Are you a full time blogger pulling in $225K/year, or do you have a "day job"???

Congrats on all your success and milestones!!!


jack Commented on June 5, 2008

mm: welcome back. I hope your return brings better returns to our stocks.


jack Commented on June 5, 2008

mm: welcome back. I hope your return brings better returns to our stocks.


jack Commented on June 5, 2008

mm: welcome back. I hope your return brings better returns to our stocks.


Mortgage Blogger Commented on June 6, 2008

So what do you do for work? Are you a full time blogger pulling in $225K/year, or do you have a "day job"???

Congrats on all your success and milestones!!!


Rajini Commented on June 16, 2008

Congratulations!! Have one more beneficial goal- Have MoneyLIFE magazine. I want everyone to get benefited out of it.

For more visit www.moneylife.in


Rajini Commented on June 16, 2008

Congratulations!! Have one more beneficial goal- Have MoneyLIFE magazine. I want everyone to get benefited out of it.

For more visit www.moneylife.in



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