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Home > Goals Review – May

Goals Review – May

June 2nd, 2008 at 01:00 pm

All and all a pretty good month. Executive summary: all lights are green and we are on target.

So, let’s jump into things, shall we?

My goals for 2008 are:

1) Pay off debt (except mortgage) by October 1st
. a) Pay off CC by April 1st
. b) Pay off Car 1 by June 1st
. c) Pay off Car 2 by Aug 1st
. d) Pay off wife’s braces by June 1st
. e) Pay off son’s medical by October 1st
2) Invest $15,000 by year end
3) Invest $15,500 in 401(k)
4) Review and reallocate retirement funds by end of Q1
5) Will by end of Q2
6) Life Insurance by end of Q2
7) Save $4,000 for college by end of Q4

1) Pay off all debt but the mortgage by October 1st

Total Debt
05/31/2008 - $18,301 ($4,756 paid)

Car 2 (3.9% interest rate)
05/31/2008 - $929 ($4,100 paid)

Wife's braces (0% interest rate)
05/31/2008 - $1,872 ($156 paid)

Son's medical (0% interest rate)
05/31/2008 - $15,500 ($500 paid)

I was hoping to pay off $5,500 this month, but it didn’t happen. I had camp, preschool, and a bike for the wife to pay for. And I used some money to shore up some budget items. Mainly, a party we will be having in August. I think it’s going to cost $1,500 to $2,000. So, I should start saving for that.
Still I am on target to pay off the second car and my wife’s braces this month.

2) Invest $15,000 by yearend

I am currently on track to start this one in September Looks like we will start hitting this in September. I upped this goal from $10,000. A little more aggressive, but what the heck. Aim for the stars and settle for the moon.

3) Invest $15,500 in 401(k)

Invest $15,500 in 401(k)
05/31/2008 - $8,621 invested

Right on target to finish this up in October.

4) Review and reallocate retirement funds by end of Q1

DONE

5) Will by end of Q2

Made the call to the attorney. I should have this completed end of June or July. So yes SCFR, I am finally getting it done.

6) Life Insurance by end of Q2

Just got a packet for additional life insurance. I’ll probably schedule the physical for this week or next.

7) Save $4,000 for college by end of Q4

This is also a new goal for this year. Aggressive – yes. Achievable - yes


Summary

I can’t complain. I seem to be achieving my goals while adding new ones. I added $9,000 in savings goals.

As long as I stay on point and focused, they should be achievable.

4 Responses to “Goals Review – May”

  1. managinglife Says:
    1212409095

    Your goals are on point!

  2. koppur Says:
    1212418259

    Wow! Talk about inspirational!

  3. Broken Arrow Says:
    1212427031

    Wow, congrats!

  4. ceejay74 Says:
    1212509988

    Well done! I'm glad you don't seem frustrated by missing the June 1 deadline on two of your goals. I'm experiencing a few budget hiccups and am trying not to be freaked out that my goal dates are looking a bit uncertain. What matters is that I reach them, not that I hit the predicted dates on the mark. Thanks for the reminder and congrats on your amazing progress!

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