My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


By Topics

Overall:
0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)



MONTHLY ARCHIVE

Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)



 

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.

More PFBlog Articles You Might Find Interesting ...


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



Read More ... 139 Posts In The Same Category










This page was last rebuilt at January 27, 2014 07:33 AM PST.
 

RSS FEED





PERSONAL FINANCE BLOGS I READ

Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar






.

Error 500 - Internal server error

Error 500 - Internal server error

An internal server error has occured!
Please try again later.



Copyright 2003-2014, PFBlog.com. All Rights Reserved. (Privacy Policy)