Happy New Year Everyone!!! Now back to work!
2010 was a great year and my Retire By 40 plan made some major strides along with the stock market. It’s out with the old and in with the new though and this year I am inspired to make a New Year’s Goal and even more resolutions. One New Year’s Goal, you ask? Yes, I am making one overriding goal which I will focus most of my energy on and this Goal is really a part of my Retire By 40 Exit Strategy.
2011 Financial Goal – acquire a rental property, preferably a 4-plex. The real estate market is still very weak in Portland and I think a 4-plex is a great investment NOW. The interest rate is still near an historical low and it seems like the banks are loosening their purse strings a bit. I need to get a loan now while I am still bringing in good income from my corporate job. Once I leave my job in 2014 (or maybe even earlier), the bank will not be able to give me a loan for an investment property. The first step is to get prequalified for a loan and then get a good buyer agent.
Resolutions – I haven’t made New Year Resolutions in a long time because it seems they never last past March. I’ve learned some tips this year though and it’s time to try again. Financial Samurai’s New Year’s resolution “SAM” tips are these – (S)pecific, (A)ctionable, and (M)easureable. I think they are great tips so this year I will check how I do every quarter and write a post about it. In no particular order, here are the resolutions:
1) Transfer to a new position – I am hating my job more and more these days and I need to transfer to a new position. I’ve been putting it off until baby gets here. Once baby is here, it will be time to look for a new position. I am planning to stay with the same company for now. There are still plenty of challenging jobs here that I can learn from.
2) Stay Alive in 2011 – Yes, this might sound kind of weird, but quite a few people have kicked the bucket at work this past two years. Cancer, plane crash, unexplained hospital stay that turned bad, and more. Yet another reason to get the heck out of this group. Actionable? Yes, I will continue going to the gym at lunch 4-5 times a week. I will take public transit half the time to cut down on chance of car accidents. I will try to improve the nutritional quality of my food intake and also reduce portion sizes. Lastly, don’t stress out too much at work, it’s not worth it.
3) No New Electronics – I will buy no electronic gadgets/doodads/devices in 2011 unless it is to replace something that broke. Our house is full of stuff: toaster oven, coffee grinder, food processor, computers, laptop, TV, and more. We don’t have space for anything else so I will try to stick to this resolution. Exception – if baby needs an electronic doohickey, he’ll probably get it. Electronics mean anything that needs to be plugged in or needs batteries.
4) Blog Goals – Keep working on content and post 3 times a week on MWF. Participate in blog carnivals once a month. Monetize the blog in 2011. Pretty simple, just keep plugging away on this site.
All right! That’s enough for 2011. If I can do all these, I would be ecstatic.
I have a feeling 2011 is going to be even better than 2010, what do you think? I predict the economy will pick up quite a bit this next year. Did you make any New Year’s resolution this year?