Well I suppose seeing as how the title of this blog is “My Financial Goals” – I suppose I should actually talk about what my goals are. Now despite the blog title I really have not been a big proponent of setting goals for myself. I know I subconsciously have ideas of what I would like to accomplish in my life, I have never before actually defined a goal and written it down somewhere. In the past I have always been pretty good about accomplishing my secret subconscious “goals”, but who knows maybe I just forgot about the goals I had failed to attain. So at this point in time I am going to dig into my subconsciousness and put some of these goals I have for myself out on paper…err well electronic storage.
The first real goal I had set for myself coming out of college was to be making $100,000 a year by the time I turned 30. I don’t know where this came from, but I’m pretty sure I figured that would mean I was successful at what I was doing and would allow me some added financial freedom.
As far as investing using my 7th grade math skills I had decided I needed to put $10,000 a year away to become filthy rich (I was probably aiming for $1 million dollars at the time and probably wasn’t going to cash in until I was 80 or so getting my 6%). Regardless this goal stuck in the back of my mind and when I got my first job I tried to stick to this – although I was not that successful – more on this in separate post)
The next goal I can remember subconsciously setting for myself was that I wanted to have $10 million when I retired. This number was purely pulled out of hat and there was no logic as to how I would attain it or what I would need the money for.
Probably the most poignant goal I have set for myself at this point was to amass $100,000 for my retirement by the time I turned 30. I believe this has gone back and forth from $100,000 in principal I had put away to just having $100,000 principal and interest before I was 30. I generally try to push myself to achieve the harder goal, so I believe I was generally leaning towards $100K in principal.
Regardless as you can see my goals are kind of haphazard at this point and I really need to sit down and more clearly define my expectations for my financial growth and come up with attainable goals that have a plan to go with them.