- Accumulate at least $24K a year. Stretched target - $50K.
Note: I have started looking for a new job back in April. I found it and accepted the job but it will not allow me to maintain the same level of savings, as I used to have last four-three years. I expect average savings rate will be $12 - $18K a year. Family budget will not be affected. The stretched target will only be true if I start the new job later than currently planned.
- Portfolio should be able to generate $8,000 a year after taxes in the money of the day. The reason for it is my significant stake in the energy companies, which are unlikely to finish restructuring next year to adjust to lower prices.
- Develop additional income source in full, potential reward about $2,000 a year.
- Less than 5% of portfolio in cash by end of the year and $350 K overall net worth in the money of the day.
- Regular monthly updates.
- To cover 6 themes on financial independence.
- Publish easy tracker for the long-term portfolio performance.
- Create list of books to read - 12 books is minimum.
- Read the books.
- Publish the books reviews.
- Stay under $100,000 with the family expenses.
- Accumulate $7,000 towards durable goods replacement over 10 years.