My Big Hairy Goal for 2009…
Improve my net worth by 200K
Money Goals
- Max out $12,000 in payback to Mother
- Pay off IRS Debt ($30,000)
- Pay off car ($10,500)
- Settle old business debts (86,000)
- Save $70,000 for house down payment (20% of 350,000)
- Buyout old investors in my corp ($63,000)
- Large emergency fund ($20,000)
- Hire part-time employee to full-time ($55,000/yr)
Personal Goals
- Get Private Pilot’s License
- Develop long term romantic relationship
- Bench Press 225 (1 rep)
- Take (1) 7 day vacation somewhere exotic and relaxing
- Take (5) 3 day mini-frugal getaways
I’m feeling ambitious right now. The last few months of 2008 went well, and I don’t see any reason I can’t continue that success into this year.
I have other personal goals as well not listed, but those are just for me.
{ 15 comments… read them below or add one }
Wow – ambitious? I would say way too much so! Don't get me wrong, I love that you are addressing so many issues that are like monkeys on your back, but all at once, they could leave you feeling less then adequate to take care of all.
At any rate, good luck with your goals.
Your personal goals look good, but are you really sure that the money goals are feasible? might it be best to postpone the house down payment or the investor buyout?
Wow
those are some lofty goals. I guess the business must be projected to do very well?
dk is a smart guy. if he is putting this out there than he knows he can do it.
Thanks Chris. Keep in mind, I want to settle my old business debts for hopefully much less. So, that makes the goal much easier.
I like to dream big.
Lofty goals indeed. You seem to have real drive though. I think you can do it. You should post monthly or quarterly updates or you may forget your goal and not try as hard as you otherwise would.
Ay ay ay! DK, are you entering Casey territory? Say it ain't so. Private Pilot’s License? That's a rich boy's hobby. Maybe some day, but not for you in 2009.
On the "buyout" of your investors, have they agreed to be bought out at the price of their original investments, or is this in your head? What about paying off your debt in full, rather than at a discount?
I hope you don't mind if I hold you to a high standard.
Cheers,
Alan
The investors have agreed to the price.
I agree on the private pilot's license, I was hesitant to include it, it would be the first to go.
Are you telling me that with a massive bod like this (http://www.debtkid.com/wp-content/uploads/2008/02...that you are aiming for 4 plates just once? I think 225 x 1 is the one goal you are wimping out on!
DK – read the comment on the right about considering telling your employee about your DK blog. I don't twitter so I am posting here.
DON'T DO THIS
DO NOT
DON'T
You may eventually decide to, but there is really no reason for you to do so. I have never been privy to the personal financial situation of any of my employers, nor have I wanted to. My guess is that the good that could come of this is for YOUR conscience only – you get a weight off your shoulders and may feel more honest with him/her. However, think about what knowing this would do to this employees confidence in his/her employer. It could seriously shake up their confidence and may make them want to look for another job. At the least, it will undermine your authority and leadership. This is not good for the employer/employee relationship, even if you two are somewhat friends and spend alot of time together.
Please don't do this, to either of you. I know carrying a secret is so very difficult. However, in this situation, that is your burden to bear. It will not help the employee to know. This is not about honesty. This is about appropriateness.
If you still feel like telling your employee, wait it out for a week or two, discuss it with your readers, see if you still think the same way in a month, etc. Don't make a quick decision on this.
May you reach all your goals and then some!
Oh. And maybe you might want to consider calling yourself something else in 09? I'm not telling you what to do, but a name is very important. We are what we think we are. Please don't define yourself by anything negative or lacking… only as positive, plentiful and overflowing with everything good!
See ya, AssetKid
AbundanceKid
More Than EnoughKid
That’s a good point. Maybe when I’m debt free! or really much closer…
OK – why would your goal be to max out your repayment to your mom at $12,000 and then a down payment of $70,000 for a house. Don't you think you should max out your mom at $82,000 and worry about the house once her financial security is set and she is paid back. I don't mean to be hard on you – you have accomplished big things in the last few but I just want to make sure your priorities are set straight. Buying a $320,000 house when your mom is still owed money seems out of order.
I agree with SmileyGirl. No way should you think about a house while you still owe mom. For that matter while you still have any debt. Get all those debts cleared up and then you can think about a house.