Search My Frugal Miser

Tuesday, January 1

My Frugal Miser - 2013 Goals (and Beyond)

Happy New Year to All!

I am stomping on the gas for 2013.

In 2012 I made some major changes in my life.  These changes position me to achieve excellence moving forward.  With that, I want to focus on my 2013 goals but also sketch out some longer term planning.

My 2013 Goals
  1. Lose weight. At least 30 pounds.  I've never met this goal, but I finally lost a few pounds in 2012.  Now that I live in paradise, getting more exercise has never been easier.
  2. Increase my net worth by $75,000.
  3. Reduce utilities expense by 10%. In 2012 I spent $2,760 on electricity, natural gas, water/sewer, Internet and phone.  For 2013, I would like to reduce it to $2,484.
  4. Reduce debt to $350,000 if my tenants do not exercise their lease-purchase option; below $300,000 if the option is exercised.
  5. Purchase 1 piece of real estate. 
I've never posted goals that I hope to achieve in the longer term.  As I study investing more and more, I realize that looking out just one year at a time is short-sited.  I need to be focused on the BIG stuff - those things that are going to happen if I put my mind to it, but that I don't expect to happen in the next 365 days.

Goals After 2013
  1. I will reach a Net Worth of $1,000,000 by 12/31/2015.
  2. I will be completely debt free by 12/31/2014.
  3. I will weigh less than 165 pounds by 12/31/2014.
  4. I will have gross rental income (including from my self-directed IRA) of $20,000/month by 12/31/2017.