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2011 Action Plan

by retirebyforty on December 31, 2010 · 24 comments

in goals and milestones

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happy new year 2011

This week I went over my Exit Strategy, Financial Goals, and Progress Update. Last on the list is to figure out what to do in the next few years to make Retire By 40 a reality.

Looking over the progress update, I think we should focus on growing rental income first. The real estate market is still weak and it may be possible to pick up an income property with positive cash flow. We’ll work on this in 2011 while continuing to max out 401k contributions.

A bit of great news – Retire By 40 is #99,667 in Alexa Rank! This improvement has exceeded all expectation and it is just in time for New Year. Thank you everyone for supporting our blog!!! I love everyone of you. :)

I will work on my New Year goals this weekend and post them next week. Meanwhile, enjoy these resolutions from Yakezie members and more.

financial samuraiFinancial Samurai has some awesome goals and resolutions to work on. The inspiring collection of goals will take your breath away.

JD @ Get Rich Slowly has the opposite approach and sets one big goal that he can focus on.

forest frugal zeitgeistForest asked if you are following any of the Top Financial New Year’s Resolutions @ Frugal Zeitgeist.

first gen americanFirst Gen American has great tips on New Year Goals For Anyone. Sandy shares her goals and tips on how to keep your resolutions.

fabulously brokeNew Years’ Resolution(s): Past, Current and Future @ Fabulously Broke. FB’s posts are always entertaining and this one is great.

yes i am cheap2011 goals from Sandy @ Yes, I Am Cheap. Sandy continues the good fight against debt and go over her goals.

little house in the valley2011 goals @ Little House in the Valley. Boosting their saving account is just part 1 with 4 more parts upcoming.

sustainable personal financeNew Year Blogging Resolutions @ Sustainable Personal Finance. SPF is shifting into high gear and is poised to make huge gains in 2011.

college investorMore 2011 blog goals @ The College Investor. Robert shares some specific goals that he will be working on.

aloysa kitchen sinkBonus: Aloysa shares her first impression of China. Did she and Beaker joined in with the crowd and hock a loogie? I hope not.

Happy New Year Everyone and please be safe!!!

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{ 20 comments… read them below or add one }

FB @ FabulouslyBroke.com December 31, 2010 at 3:38 am

You are too kind :) Thank you so much for featuring me..!! Have a great New Year.

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Financial Samurai December 31, 2010 at 3:55 am

Nice wrap, and that’s cool you plugged in everyone’s gravatar. How’d you do that?

I think it was important that JD just focus on one goal too if you read his story about where he came from w/ his debt, and also how overweight he was as well. If I was that size, and never exercising, I would make it my mission as well to try and get fit, b/c I want to give my best chance to live longer.

That’s the thing though, once you have your debt and health situation down, you can do so much more!

Cheers, Sam

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retirebyforty December 31, 2010 at 6:59 am

Did you see my funny icons post?
http://retireby40.org/2010/12/funny-icons/
The idea to put gravatar with link popped into my head last night, I like it! see below on how I did it.

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Sustainable PF December 31, 2010 at 6:01 am

Thanks for including us! We too would like to learn how you added the gravatar!

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retirebyforty December 31, 2010 at 6:29 am

Folks, I just right click on your gravatar and copy image location. Then add an image in wordpress with that location. It was pretty easy to start with, but I had a really hard time with text formatting. Wordpress took out line breaks and stack the images badly. You can try it in your blog. I had to write at least two lines for everyone to make the post look good.

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Everyday Tips December 31, 2010 at 6:44 am

Great job on the Alexa ranking!!

I still need to get my resolutions together too. Happy New Year!

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Jessica07 December 31, 2010 at 9:41 am

Congrats on the Alexa ranking. It’s very exciting to see how all of your planning and efforts have come along so far. I look forward to reading more posts as THE year draws nearer. Good luck with your rental income. :)

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retirebyforty December 31, 2010 at 11:27 pm

Thank you! I will need to keep working on my handy man skill so I can be a better landlord.

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Jessica07 January 3, 2011 at 12:58 pm

Money Reasons just published a nice post to get you on your way, then! ;)

Check it out: http://www.moneyreasons.com/2011/01/draining-my-hot-water-tank-to-save-money/

Enjoy!

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Little House December 31, 2010 at 11:49 am

I love the gravatar with the link idea! It puts a “face” with a link. ;) Thanks for including me in your round up and congrats on your Alexa ranking!

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Moneycone December 31, 2010 at 6:17 pm

Congratulations on your ranking RB40! Here’s to a very prosperous 2011!

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Forest January 1, 2011 at 6:47 am

Thanks a million for the link. It’s awesome to read everyone else’s goals. We can all keep each other motivated.

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Buck January 1, 2011 at 2:50 pm

Congrats on your Alexa ranking and will check out everyone else’s resolutions. Perhaps we should make it a requirement in the future. Great way to review, learn, share, and get to know the community. Happy New Year! :)

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Daddy Paul January 1, 2011 at 7:24 pm

“Looking over the progress update, I think we should focus on growing rental income first. The real estate market is still weak and it may be possible to pick up an income property with positive cash flow. We’ll work on this in 2011 while continuing to max out 401k contributions.”
Great plan. Property values should not go much lower and as they rise you will be enjoying income.
401K is a great deal particularly if your plan matches.

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Sandy @ yesiamcheap January 1, 2011 at 8:26 pm

Thank you for including my goals here. So I ask everyone to have a theme song. do you have on for this year?

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retirebyforty January 2, 2011 at 10:26 am

My songs are more situational so I have a bunch of theme songs throughout the show, more like a movie really. :)

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LifeAndMyFinances January 2, 2011 at 5:39 am

I like your goal of acquiring rental property. I think it’s a fabulous idea right now since the housing market remains soft. I’m sure you’ll find something with a positive cashflow! :)

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retirebyforty January 2, 2011 at 10:29 am

Thanks for the encouraging words. I’ll send in my prequal in a few weeks and see how much the bank will let me borrow.

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Barb Friedberg January 2, 2011 at 1:28 pm

Yes to rental property. This is a golden time with resonable valuations and low interest rates. Only down side it the management time. Gook luck! Happy New Year!

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Aloysa January 3, 2011 at 1:26 pm

You are funny! Thank you for including me as a bonus. :-)

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