- Save 20% on the income. I would like to follow financial advice on an index card and save 20% of your money (Currently this is around 12%. I will try to save any extra bonuses I receive and trim some of our expenses.
How am I going to save 20%:
- Accumulate $10 K a year (tax deferred contribution) in the private pension fund – equivalent of 401(k) , $10K to the tax efficient account.
- Accumulate $4 K of them towards long term house maintenance and make two additional monthly payments on the mortgage.
– No changes. Keep investing in the pension/retirement fund.
- Develop additional income source in full, potential reward about $2,000 a year. Target sites to be developed in full this year.
- Regular monthly updates.
- To cover 6 themes on financial independence, including mortgage one.
- Read 12 books from the list.
- Publish the books reviews.
- Corporate finances to study in detail.
- As long as the savings goal is made I do not mind the rest. Aim to stay under previous year budget.
- Be happy. Run 1,000 miles during the year. BMI at 26.3 by December. Loose 2.5 pounds a month.
What are your goals for this year?