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2009 Financial Goals

25 August 2009 No Comment

It’s time to document some goals with regards to my finances.  Investing, income, budgeting, real estate… it’s all covered here.

It’s a little late in the year to establish financial goals, but I’m going to document my goals for the rest of the year and then update this list closer to the start of 2010.


I continue to be very wary of the current market and am patiently waiting for a significant pullback.  I am still mostly cash (and short) and am waiting for some strong stocks with attractive entry points.  Depending on what happens, I may still be in the same position as we transition into 2010.

Goal: Continue to be patient.  Close out shorts as market goes lower.  Watch for high-yield entries.


With a renewed focus on some of my online businesses, I’m hoping to develop a consistent monthly side income stream.  I have a few businesses/income streams in the works that may come online between now and the end of the year.

Short Term Goal: Focus on building 20smoney.com and wait for other opportunities

Hopefully through a combination of potential income streams such as 20smoney.com, I will be able to generate some lasting, substantial monthly income.

Long Term Goal: $2,500 / month in side income from businesses and investments

Saving / Budgeting

Since recently implementing my bucket savings plan [July 27, 2009], I have begun to build up cash reserves for multiple categories of potential expenses (such as home maintenance, auto maintenance, etc.).  My goal is to hopefully avoid any large expenses and continue to build these reserves so that I may be well positioned in 2010 to withstand any unexpected events without breaking my monthly budget.

Goal: Have $150 in house maintenance reserves, $150 in auto maintenance reserves, $200 for insurance payment reserves

Real Estate

Thankfully, I just completed a re-finance of my home which will save me almost $300 a month.  Additionally, I’m looking to make a few upgrades to my back yard which will not only increase the value of our home in terms of lifestyle and enjoyment but also assist greatly should we sell the home in the future.  This may or may not happen by the end of 2009.

Goal: Sit Tight, save accordingly for desired back yard upgrades.

I will be detailing some future real estate investment plans very soon that may take place in 2010 or 2011 (depending on the market).  I’m hoping to scoop up an income producing property in the near future and I will be discussing this further on this blog.

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