2022 New Year Goals & Resolutions

Hey everyone, Happy New Year week! So 2021 was an interesting year… It felt like we took 3 steps forward and 2 steps back. Personally, we did pretty well, but it seemed the world is inundated with problems. Well, what can you do? We focused on staying healthy – physically, emotionally, and financially. It worked and we ended 2021 in a good place. Now, I’m ready for 2022, though. We have big plans! Check them out below.

Setting goals

In previous years, I had moderate expectations and set goals accordingly. This worked well because I was able to accomplish most of the things on my list. I find that setting high expectations doesn’t work for me. I can’t achieve them and then I become discouraged. My style is to go slow and steady. Shooting for the moon is probably better for younger folks, though.

Here is my approach to New Year Goals.

  • Set achievable goals – Don’t shoot for the moon unless you have a sterling record of high achievement. Most of us will become discouraged and give up.
  • Make specific and measurable goals – New Year goals need to be very specific. Don’t make vague goals like saving more or losing weight. You can’t keep track of it and you’ll forget about them by April. A better goal would be maxing out your 401(k). That’s measurable. You also need to figure out a way to get there. Will you increase your 401(k) contribution right away? You need a plan or else it’ll be much harder to achieve these goals.
  • Write them down and track your progress– Write down your goals and put them where you will see them. The refrigerator door is a good spot for many people. Personally, I put my goals here on Retire by 40 and update the status monthly. This worked very well over the last 10 years. I have a public audience and all of you give me the motivation to improve. I made tremendous progress with our finances and personal life since I started blogging. It’s been terrific. I recommend starting a blog if you don’t already have one. It really helped me and it might help you, too.
  • Academic scale – These days, I grade my New Year goals on an academic scale. It works out really well. 90% is still an A-. It’s motivating and I feel good about the result. That’s better than getting 90% and still fails.

Ok, on to the goal sheet.

2022 Goals

Check out my goal sheet below. It’s simple and helpful. I can see my progress at a glance and it’s easy to update every month.

Financial Goals

Real Estate Crowdfunding $200,000

I want to increase our real estate crowdfunding investment at CrowdStreet to $200,000. I’ve been working on this one since 2019. Our investments are all doing pretty well so I have good confidence in CrowdStreet.

Currently, we have $124,698 invested. I plan to sell our rental condo and move some of the money to CrowdStreet soon. You can see how our investment is doing here – real estate crowdfunding monthly update.

FI Ratio > 110%

In 2021, our FI ratio was 107%! That’s a bit low than I’d like, but it still isn’t too bad. Hopefully, we’ll bring it back above 110% in 2022.

You can see how I’m doing with passive income here. The table below isn’t finalized because we have a few more days left in 2020. It should be pretty close, though.

*FI Ratio = passive income / expense

Sell Rental Condo

Once our tenant moves out in April, I’ll put our rental condo up for sale. I plan to travel a lot more in the future so I can’t be a landlord anymore. I’ll move the money to CrowdStreet so the income will be a lot more passive.

Speculate in crypto $10,000

I’m a bit late to the game, but I’d better jump in. Currently, I have $602 in crypto. This is completely speculative because I don’t know anything about cryptocurrency. I’ll have to research and see which one to invest in. But, I understand it’s basically gambling.

Health Goals

Reduce body fat to 22%

I got a new fitness tracker and the companion app can calculate body fat percentage through image modeling. It shows that my body fat percentage is 26.7%! That’s right on the cusp of obesity. Apparently, 27% is considered obese for my age range. It’s time to trim down.

The plan is to work out right after I drop RB40Jr off at school. This worked well in the past, but not in 2021. Mrs. RB40 was working from home and she needed it to be quiet. Next year, she’ll start going into the office again.

This goal will be very difficult to achieve. I’ll have to eat healthier and work out more. Unfortunately, this is in direct conflict with my other goal – to travel more. Usually, I eat less healthy when I travel because I want to try all the different delicious food. Anyway, you’ll have to check every month to see if I make any progress. It’ll probably take more than one year to do this one.

Improve sleep quality to Fair

slept poorly

The fitness tracker also tracks how well I sleep. Usually, I sleep poorly. I’d like to improve it to “fair” for most nights. Unfortunately, I don’t know how to sleep better so I’ll have to do some research.

The target is to get a “fair” rating for more than 50% of the month.

Fun Goals

Travel for 6 months

I plan to travel for 6 months (180 days) in 2022. Originally, Mrs. RB40 was going to take 6 months off and we’d travel. However, we decided to travel together for only 3 months. RB40Jr will move up to middle school next year. He usually has difficulties adjusting to a new situation so we thought we’d better get him in at the beginning of the school year. Starting school late will make it harder for him to adjust. Even at his elementary school, he got in trouble at the beginning of every school year. When he starts 6th grade, I can only imagine how often we’ll hear from his new teachers, principal, and nurse. The new school year won’t be pleasant for anyone.

Anyway, I’m going to Thailand by myself for 3 months in Q1. Then we’ll travel together in the summer. We’ll also take short trips in the fall and winter.

  • Q1 – 90 days in Thailand.
  • Q3 – 70 days in Japan, Thailand, and maybe Indonesia.
  • Q4 – 10 days in Maldives/Qatar. 10 days short trips in the US.

Hot air balloon ride and zipline

These activities are on my Christmas Bucket List. Let’s cross them off next year! RB40Jr is better with height now so I think we can do it.

Happiness level > 8

I started this goal in 2019 and it’s good for me. It confirmed that I’m a naturally happy person. My happiness baseline is pretty high, around 8. I think 2022 will be better than 2021. We’ll travel more and relax more. The last two years were somewhat stressful. Hopefully, Covid will be done with us by the end of 2022.

The dip in November 2021 was due to our 20 years old cat passing away. We still miss her.

On to 2022!

Alright! Those are my goals for 2022. I’ll update them monthly in my cash flow posts. This is the key. If you don’t track your progress, you’ll forget about your New Year goals by April. What are you waiting for? Make a goal sheet and start tracking your progress.

Do you have any New Year goals for 2022? Happy New Year and good luck!

The following two tabs change content below.
Joe started Retire by 40 in 2010 to figure out how to retire early. After 16 years of investing and saving, he achieved financial independence and retired at 38.

Passive income is the key to early retirement. This year, Joe is investing in commercial real estate with CrowdStreet. They have many projects across the USA so check them out!

Joe also highly recommends Personal Capital for DIY investors. They have many useful tools that will help you reach financial independence.
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37 thoughts on “2022 New Year Goals & Resolutions”

  1. Hey Joe,

    I’m happy to touch base with you about sleep if you want. I’ve had insomnia for years mostly due to working too much over-time, overcommitting myself to projects, and night/graveyard shifts. There are a few things that I think could really help you. You mentioned exercise and that’s a main one for most people, however I recently learned you should try to do your exercises earlier, if you’re doing them at night they can make you stay up later or reduce the quality of your sleep. Similar with caffeine and overall fluid intake you should try to take it earlier in the day. Similarly what you eat, how much you eat, and when you eat can also affect your sleep.

    Here’s a short list to get you started: https://sleepeducation.org/healthy-sleep/healthy-sleep-habits/

    Good luck!

  2. Like you, I am late to the crypto movement and also thinking of allocating a small percentage of my net worth. I worry both that it is already overvalued and that it is speculation whose prices are driven by a few whales. However, I’m feeling like it is gaining traction as becoming a viable investment vehicle of the future. Keep us posted which coin you invest in!

    I’ve hit my physical health goals for 2021. In fact, I’m in the best shape of my life. Problem is that all the time I’m spending exercising at the gym leaves me feeling less energy for writing blog posts 🙂 Life is always about finding that balance.

  3. First-time reader here. Love the idea of separating goals out by quarter. So often there are things I start the year planning to do and end up forgetting about as it’s not something I can tackle right away.

    • The year isn’t quite over yet. 2021 should be just a bit better than 2020.
      Also, I sold some dividend stocks that I didn’t like anymore. Some new holdings are not paying out well.
      Disney – no dividend this year
      InMode – Growth stock
      Visa – low dividend

  4. First-time commenter, long-term reader!

    That’s a solid set of goals. Definitely recommend the hot air balloon ride. I’ve been on two and they are at on of fun. Just watch out for wind – I’ve had many scheduled rides get cancelled due to wind @ only 10 mph!

    Quick question on “tax advantaged accounts.” Is that just growth in a 401k/IRA or is some of that money actually being withdrawn?

    Happy New Year!

    • Really! I didn’t know it’s so dependent on the wind. There is a hot air balloon ride near us so if it got cancelled, we can just go again.
      The income in the taxed advantaged accounts is the dividends in those accounts.

  5. i agree with liking that sleep tracker. my garmin running GPS watch has a sleep feature i find very useful and informative. i can tell you one thing i’ve noticed over my few years of tracking. better exercise leads to better sleep and less booze leads to better sleep. stands to reason, eh? happy new year to you and your family!

  6. The picture reminds me Bangkok, a nice park where i used to train everyday .
    I wish to be there today.
    Enjoyed your article as usual.
    Happy Holidays to you ,your family and all your readers.

  7. You’re way more regimented than I am with goals, and that’s probably a good thing for you and not so much for me, haha. I make rough goals in my head for some things but don’t really codify them per se. Good luck with your goals, I’m sure you’ll smash ’em, here’s to ’22!

  8. Have you ever had a sleep study or been tested for sleep apnea? I thought I slept fine but was tested because of another medical issue. The result was a finding of moderate sleep apnea and a fancy cpap.

  9. Looks like a great list of goals!

    I am reading the book Atomic Habits while on end of year vacation and thinking about how I can make some improvements for the new year.

    I’m focused mainly on exercise and personal well-being goals, but will add a couple of financial related as well.

    Happy New Year (in advance) to Joe and everyone!

    • I just listened to Atomic Habits too. They talked about building habits instead of goals. That’s great, but I don’t know how to blog about it. Hahaha. Maybe next year, I’ll add some habits.
      Happy New Year!

  10. Sounds like a great 2022! I’ll be curious if the traveling for so long gets you homesick or craving more. I also want to hear more about the hot air balloon ride. That’s always been something that’s intrigued me as well, though I feel like I might be terrified once up there.

    I’ve decided that I’m going to cut back on drinking alcohol for 2022. I don’t drink a ton now (maybe 6-8 beers per week?) but it’s still more than I want to… so why not use the New Year as an excuse to make it happen? 🙂

    Have a wonderful New Year, Joe!!

    • I got the Amazon Halo View on sale for $50. It has a companion app on the phone. This app can take your pictures and estimate your body fat percentage.
      You can also get a scale that measures your body fat percentage.
      Thank you.

  11. Lots of great travel destinations! Hoping Asia is more fully open by the summer for you.

    So far we have 50 days of travel planned for 2022. Going to Death Valley/Joshua Tree NP in January. Visiting family in Florida and then spending a few days in Puerto Rico in February. In May/June we will be in Germany and Iceland. And in October we are also planning to go to the Maldives and thinking about spending some time in Doha on the way back. We’d like to see if we can travel every month in 2022, but I am afraid COVID might get in the way of some of that.

    Our big goal for 2022 is to get our will and other estate planning documents in place. We have had it as a goal for two years now but keep putting it off. 2022 has to be the year to get it done! I am trying to make our goals list shorter so we can get the will done.

    • I really hope Omicorn will run its courses by spring. It seems to flare up quick from what I read about South Africa.
      Mrs. RB40 visited Joshua Tree when she went to see her parents. It sounds hot. 🙂
      Iceland is really great. There were so many things to see. We really enjoyed relaxing in Seydisfjordur for a few days.
      I’m looking forward to the Maldives too. Doha would be a nice quick stop.

      You really should get the estate planning done. It doesn’t take that much time. Good luck and Happy New Year!

  12. Wow, that’s a lot of traveling. To get 90 days in Q1, you must be leaving fairly soon, I would think. I hope COVID doesn’t stop you. I am starting to get worried that we might not be able to travel to Puerto Rico in the spring. I’m staying optimistic though.

    Good luck on the health goals. I might copy the body fat goal, because we are about the same. When my wife went away last month, I went from 28.2% to 26.2%, but with the holidays it’s going in the wrong direction again. I got an Oculus for Christmas and bought a boxing game (Thrill of the Fight) and it is a fun workout. It may be something to consider while traveling because it is light and you can do it anywhere you have space (cramped hotel rooms might not work too well).

    • I’m heading off to Thailand in a couple of weeks. That is if no more travel rule changes.
      Oh, wow. Nice job on your body fat percentage. I usually walk a lot when I travel so that should be okay.
      It’s eating that could be a problem. Although, I could eat better at home as well. Next year, less carbs.

  13. Crypto – yes I’ve been late to the game here as well, first years of skepticism and then some years of no understanding and hence lack of investment approach.
    Finally got advice to “put money in the top 10 crypto and leave for 10 years”
    This helped my mental block as it solved the passive investment nature as well as spread risk.
    Used nomics to identify the top trading volume (ie market cap equivalent metric) and then a Coinbase account. Links to personal capital as well to make it easy to include in net worth monitoring.
    Look forward to how you approach this…

    • Thanks for sharing the advice. I’ll probably do something similar just to get in the game. Also, I won’t gamble more than 1% of our net worth.
      I’ll do more research next year. For now, I’ll buy some Ethereum at the beginning of the year.

  14. Joe, when you sell your apartment, to defer the taxes ( capital gains and depreciation recapture) you should consider 1031 exchange. Email me if you need help.

  15. Joe, that’s fantastic that you plan to travel for 6 months in 2022. Congratulations. I hope it all works out.

    I can see why you want to sell your rental property. I myself would be a poor landlord.

    In regards to you being a poor sleeper, so am I. I tend to wake up every hour or two. This reminds me of the comedian Steven Wright who said, “Someone asked me how well I slept last night and I replied, ‘I made a few mistakes.’ ”

    Just a note that I had adventurous travel plans for the first half of 2022, with three trips planned to Honolulu (one in January, one in February, and one in March) and a trip to London, England in early May. I was able to book all four flights in Internaitonal Business Class (really First Class) using Air Canada Aeroplan points and just a few dollars.

    But now I don’t know if I will make any of these trips with the surge in the Omacron variant. In fact, I may have hit with it about 4 days ago even though had two shots of Pfizer as well as the booster shot. I ended up with strong cough and was pretty well house bound for two days due to low energy. But I am feeling great now, back to normal (much to the disgust of all my critics and a lot of my acquaintances).

    My other major goal for 2022 is to finish writing and then self-publishing these two books:

    1. “The Book of Swagger — For Men Only! (People, Places, and Things That Have Swagger — And Some That Don’t!)”
    2. “The Little Book of Swagger (637 Swagger Tips for Swagger Guys)”

    Question: Is there even a word in the Thai language for “Swagger”?
    (I believe there is in French and German.)

    • I don’t sleep well in the 2nd half of the night. I keep tossing and turning. The first half is usually good, though.
      I probably need more exercise to sleep better.
      My flight to Thailand will be in economy. Hopefully, there will be extra rooms so I can stretch out. When I flew last year, the plane was only 25% full.
      Good luck with your new books!
      There must be a Thai word for swagger. I’m not knowledgeable enough, though. I only know the basics.


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