OPERATION CHRISTMAS CHILD 2012

Welcome to Cents To Save! Follow along as we pay down our debt, become mortgage free, and enjoy life. You can read more about this site here and subscribe to get all the latest updates sent to you by email or RSS feed here. Thanks for visiting!

Goals For 2007

It is the time of year when one evaluates their current situation financially and personally. I tend to think both are intertwined.

We all have goals for our future. Some are attainable and others may seem far fetched. Starting with realistic goals:

1. Maintain current percentage of contribution to my retirement accounts which is currently 14% of my gross income AND strive to increase the amount 4% this year.

This is a goal that is quite manageable. I will have a new employer in b January. The new employer will contribute up 1500.00 dollars to the 401(k). I will be setting up auto transfer from my employer for my Roth IRA at T.Rowe Price to max it out also.

2. Increase my Emergency Fund Amount.

My Emergency Fund is currently at approximately 4000.00 dollars. My new goal for 2007 is going to be 7000.00 dollars. I think that over the course of 12 months that I can reach that goal. Let me rephrase that, I KNOW I can meet that goal in 12 months. That is only 250.00 dollars per month, OR 58.00 dollars per week OR 8.00 dollars per day.

3. Get a Will, Power of Attorney, and Living Will (last minute addition) And Life Insurance.

I know better,,, I work in the health care industry. I know what can happen to people, and what can happen to their families if things are not taken care of. But I have yet to get these important papers drawn up. What is that about? Denial. Do I really think I will live forever? And if something did happen to me and I could not speak for myself, do my loved ones REALLY know what I will want to happen to me?? As of now, all of these questions are officially unanswered. I need to make this goal a BIG priority.

Life Insurance is something I "know" I need, but have yet to get around to. I am a procrastinator of sorts.

4. Plan For A Little Fun.

As a health care provider I am in daily contact with a wide variety of patients. What I find interesting is that the majority of the older patients, (60 and older) will during the course of our conversation ALWAYS will tell me DO NOT wait until you are old to travel. IT will be too late. DO it now.

I am taking this advice to heart. This year I am planning a trip for my hubby and myself to visit Jackson Hole, Wyoming in December. December is our Anniversary month. We don't ski but Hubby has never been out west, and I want to experience snow. I have lived out west, but it has been a very long time ago.

We will still make quick trips to the beach and other places close by through out the year , but I am Extremely excited to go to Wyoming this winter. !!


5. Improve My Current Weight, Which Will Improve My Overall Health.

I like food!! And I am an emotional eater! Too very bad combinations! I will be getting back on track with the weight loss program that I was on in the fall. I lost about 35 pounds, from 228 to 193 using Transformations over 4 months. But I let major family issues get in the way of my progress and I was back in the cookie dough hot and heavy. Not to mention regular Coca-Cola which is my absolute favorite addiction.
I am back up to 201 lbs currently. (Sigh)

I will find a way to rework my budget to go back to Transformations and get back on track.

6. Consider And Implement a Plan for Room Addition.

This is where my goals start getting a little far fetched. I want to add a family room and a new master bedroom with full bath on to my house. This is doable. It will require a 2nd mortgage or a complete refinance. That is fine. I am content in my location. I really want MORE space. WE have looked into moving, but it is not something we can both agree on at the same time.

We do agree on adding more space. But we will have to agree on how to pay for it. I will keep you posted the developments of this situation. Should be interesting!
And in case you wanted to know, I am willing to take on this extra debt. For me it is worthwhile. My hubby is very handy and we will do a great majority ourselves. My sons are electricians so we have that covered. And hubby is in Air Conditioning. The putting on a new roof was a family project. Yes , even I was up there ripping off the old shingles destroyed by the 3 hurricanes of 2005. All in all, we are a pretty handy bunch. I think I have a good grip on funding my retirement, and I do need to live in the present not always in the future.

7. Research the Possibility of Acquiring Rental Property.

Yep, I have thought about this for quite a while. Hubby and I have talked about it for even longer. This goal is definitely doable, but it is the fear of failure that stops me. Must overcome the fear.

Well, I think that is just about it for my goals for 2007. I know this list will change a great deal in the coming year, but for now it is a start.

11 comments:

D said...

Your doing awesome with the retirement %. I wish I could muster this. Someday - a goal, goals are good.

Raising the emergency fund or any savings for that matter can only be good. Making money is always better then paying.

Legal Doc's and fun a must - something we all put off.

Transformations, is it just a supplement or a whole program? Does it work? I have a whole extra me I would like to lose.

I love fixing up my home. Additions are great, but they should be called marriage testers. This is when you find out how strong you and your marriage are. If your strong, you also have a lot of fun and mistakes and memories together.

1 and only 1 rental property help - think small, single story and more affordable. If you are handy, don't be afraid of a foreclosure - I actually love the fix-up better than the landlording.

Missy said...

Hi d,
Thanks for the great feedback on my goals for 2007! Yes goals are good and they can be changed by any and all life events.

As a couple we have survived several "small" renovations to the house. A huge addition will be stressful, but we do try to have fun with our disasters when they happen. Key phrase is "We Try"...

Sometimes, well most of the time it is me that the stress will get to, and a few tears will relieve the tension for me :)

I emalied you the infor about Transforamtions.. ii is a medically supervised Weight loss system.

Thanks for the tip about rentals... I am excited to move forward on that, but will probably jump into the room addition first.

Thanks again!

Financial Imbalance said...

Excellent post and best of luck achieving your goals during 2007.

D said...

Hey, no more name changing...I am Polish, I was kind of confused. All's good now though. Thanks for the email. No, they are not in my state. Oh, well.

lndsymaria said...

Great goals! I'm sure that you will achieve them.
Try switching to Diet drinks. I was a Coca-cola addict until I was ALMOST diagnosed with gestational diabetes with Punkin Head. Now, I cant drink a 'regular' drink, only diet.

Missy said...

Financial Imbalance,

Thanks for kind words!

D,
I'm glad you figured me out, and there will be no more name changes. :)

Maria,

When eating better, I can stay away from real Coke, and I get use to diet coke again.

But, sometimes late at nite,,,, I will search the fridge for a stray Coca-Cola.....

Financial Imbalance said...

Excellent post and best of luck achieving your goals during 2007.

Anonymous said...

[url=http://levitranowdirect.com/#rmfix]levitra 20 mg[/url] - order levitra , http://levitranowdirect.com/#hudqo cheap levitra

Anonymous said...

Hello. And Bye. Thank you very much.

Anonymous said...

Hello. And Bye. Thank you very much.

Anonymous said...

Hello. And Bye. Thank you very much.

ShareThis