Friday, January 4, 2013

2013 Financial Independence Goals

- Accumulate at least $42,000 for investments during 2013, beginning  2014.
- Continue to diversify the nest egg.
- Think about additional source of income.

- Regular monthly updates
- To cover  6 themes
I have no intentions to move towards an entertaining blog with 2-3 weekly posts.   I will endeavor my best efforts to stay on personal subject of financial independence and family budget.  

-  Create list of books to read  & read them- 12 books is minimum.
-  Publish the books reviews.

Family Budget:
- Stay under $80,000 with the family expenses
- Accumulate $7,000 towards durable goods replacement over 10 years.

Be happy.  Run 1,000 miles during the year.


  1. One book a month sounds about right. That reminds me, I have some finance/business books to read as well. Have to go through "Freakonomics" and "The Power of Why." Got those from Amazon in late 2012. Accumulating $42K is a nice goal as well. Since you also plan to stay under $80K for expenses does that technically mean your family takes home more than $10,000 a month? Wow congrats, that would be incredible :0) I haven't posted my 2013 goals yet but I'm thinking increasing net worth by $50K :D

    1. Hi Liquid,

      "Freakonomics" is highly recommended for reading. I found real estate section particularly entertaining, as well as story about donuts sales.
      I have been fortunate enough to take on temporary contract which would allow me to earn some extra. In practical terms it means working about 3,000 hours a year instead of average 2,000. I took this opportunity anyway, as I enjoyed the challenge and the posting.

      Getting your net worth up by $50 K is a nice stretching target. But your networth is already $140 K. Should you get rate of return 7% you will need save $40 K on top of it. It will be very much exciting to read how you are going to achieve it and take on new challenges.

    2. Thanks FI :0) Sounds like you've been quite busy. Don't work too hard though. I have to admit that my strategy isn't all that exciting lol. Truth is, I can only save about $24K a year comfortably, including paying the interest on all my debt. I planned to blog about this later but I'll let you in on my secret early ;) I plan to make the remaining $26K from passive wealth accumulation. In other words, I have about $500K in real estate and stocks today. Should the average value of those assets appreciate by 4% then that's a net worth increase of $20K. Additionally I should build up about $6K a year in the equity of my home and farm, just by making the regular monthly mortgage payments :0) That's how I came up with the $50K estimate(24+20+6)Of course we both realize I am taking on a stupidly large amount of risk by leveraging to the extreme. But risk is the price I must pay for the privilege of being in my current position, oh well.

    3. Hi Liquid!

      This is one inspiring strategy - at $50K a year you will gaining more than your salary! I will closely following your journey to financial independence!

  2. Great goals! I will follow you closely.