Year End Financial Checkup


Da_Sperm

Da_Sperm

New Member
The year is about to end and did you meet or surpass your financial goals for the year?

I DIDN'T!!! But that is COOL because I'm better off than I was on 1/1/2007, which is important.

Its time to start thinking about and lining up your financial goals for 2008.
 
I made some changes and I'm happy with the directions I'm starting to go in. I'm not exactly where I want to be, but I'm making strides to get there.
 

I'm doing slightly better. Got me a financial advisor (who moved some thangs around for me in some different investments.) I meet with him on 12/30 for a check-up. Got "managed care" for my 401k and went to Dave Ramsey's seminar - Total Money Makeover. I feel good about the direction I'm going.
 
Eliminated some existing debt, cut back on frivilious spending, invested more in my Retirement and personal savings. Not quite where I want to be...but doing alright.
 
Doing Good! Exceed most of my Goals this year. Eliminated 90% of most of the debt. Brought three rent houses this year and on track for 2 more in 2008. I even went to Millionaire School. My goals for 2008 will be loftier.
 
Shamocha said:
I made some changes and I'm happy with the directions I'm starting to go in. I'm not exactly where I want to be, but I'm making strides to get there.
Click to expand...
WHat she said up there.
I'm sitting her now reading Dave's total money make over. I have started to eliminate same debt I am not where I wanted to be but I am closer to my goal.
 
This was NOT a good financial year for me.

I incured NEW bills and I have literally been living check to check.

This new HOUSE project is already giving me the Blues.

Best thing to happen Financially: CAR was PAID off
Worst thing to happen Financially: My Student Loan payback got bigger

Ill be finished paying back my Student loans in January of 09......Thank Jesus.
 
I hit some major goals this year, but not all of them. After buying a new house, I paid off all of my new appliances and furniture that we bought, plus paid off over 20K in credit card debt from paying for my wife's MBA program.

Maxed out the Roth. Diversified my portfolio even more, and had a baby(tax deduction!)

It has been a busy year, and financially we are much better off than we were.

Looking forward to 08.
 
Shamocha said:
I made some changes and I'm happy with the directions I'm starting to go in. I'm not exactly where I want to be, but I'm making strides to get there.
Click to expand...

Fortitude said:
I'm doing slightly better. Got me a financial advisor (who moved some thangs around for me in some different investments.)... I feel good about the direction I'm going.
Click to expand...

Warndalyn said:
I'm doing better than I was a year ago, but it's still a process. God is good, though!
Click to expand...

What they said... Plus the career is going great and I am on track to get a major pay increase...

God is Great... he is giving me my Chocolate Cake :gift:
 
2007 was an upward direction for me financially, but I am falling into the mode ?the more I make the more I spend? syndrome I purchase a lot of big ticket item last year for my house. I will try to put my effort toward putting some money away. Don?t worry about making more money but keeping more of the money I make. Being a gadget geek it?s hard.
 
Well, 2007 I achieved a few things, however they were not my goals at the beginning of the year.

1. Didn't charge one red dime on credit cards.
2. Paid of my Auto Loan on 12/14. Now we own 2 descent SUVs OUT RIGHT!
3. Maxed out my 401K.
4. Got Nita's 403B contributions up considerably.
5. Paid off a credit card account.


I wanted to invest into more realestate properties in 2007, but it didn't work out.

For 2008.
1. Don't charge anything or open up any new revolving accounts.
2. Pay off Student Loan (owe less than $1,000)!.
3. Pay off a couple credit accounts by June 1.
4. Open an IRA account for both me and Nita AFTER June 1.
5. Be in a position to acquire a rental property after June 1.

Bigmanofds, I got a raise this year and so did Nita. What we did was put EVERY PENNY of that increase into our retirement accounts. That keep us from the "the more we make, the more we spend" habit. If you are happy with your current intake, I would recommend that you SPEND your next increase in your retirement account or some other investment vehicle because it really makes a difference.

ThrowForSix, keep up the good work!
 
Well I finally started contributing to my 401k (I know I should've started years ago). I started putting away money into a savings account at a credit union and I don't have an ATM card for it. I also gave my credit cards to a friend who pretty much cusses me out if I even think about asking for one. It's Christmas and I have spent far less this year than I have ever spent. In January I plan on getting started with an IRA, increasing my 401k contribution, and increasing the amount I put in savings per paycheck. By the end of 2008 I want $0 on the remaining 2 cards that still have a balance.
 

jelli said:
WHat she said up there.
I'm sitting her now reading Dave's total money make over. I have started to eliminate same debt I am not where I wanted to be but I am closer to my goal.
Click to expand...
I love Dave's total money make over; he's the man!!! My friend mentioned making principal only mortgage payments, so I've started doing that and since I've purchased a new truck, I called Tuesday to see where I can mail my PRINCIPAL ONLY payments for that too! I'm extra excited about that idea for some reason - been telling EVERYBODY to do it!
 
Congrats to everyone who replied. I like people who think the way you do. Very encouraging. :clap:

I reached about 75% of my income goal, 50% of my savings goal, and about 25% of my real estate investing goal. 2008 will be the best year yet for all of us! :tup:
 
Da_Sperm said:
Well, 2007 I achieved a few things, however they were not my goals at the beginning of the year.

1. Didn't charge one red dime on credit cards.
2. Paid of my Auto Loan on 12/14. Now we own 2 descent SUVs OUT RIGHT!
3. Maxed out my 401K.
4. Got Nita's 403B contributions up considerably.
5. Paid off a credit card account.


I wanted to invest into more realestate properties in 2007, but it didn't work out.

For 2008.
1. Don't charge anything or open up any new revolving accounts.
2. Pay off Student Loan (owe less than $1,000)!.
3. Pay off a couple credit accounts by June 1.
4. Open an IRA account for both me and Nita AFTER June 1.
5. Be in a position to acquire a rental property after June 1.

Bigmanofds, I got a raise this year and so did Nita. What we did was put EVERY PENNY of that increase into our retirement accounts. That keep us from the "the more we make, the more we spend" habit. If you are happy with your current intake, I would recommend that you SPEND your next increase in your retirement account or some other investment vehicle because it really makes a difference.

ThrowForSix, keep up the good work!
Click to expand...


That is what I hope to do. I see what you are talking about, if you don?t see it you can?t spend it, right. Also, I need to find a way to deal with my bycth on the side, the I.R.S. One year I was so proud of myself and able to some save money in my saving account but had to turn around and give it to the government. That is why they are my bycth on the side, because I got fcuk good?or maybe I am the bycth. :idea:I need some type of tax deferred vehicle with a fix rate of interest. I am a state employee and my contributions to my retirement plan are base on my gross salary. My contributions are going to go up if I want them to or not. I need another retirement source other than state retirement and Social Security (SS may not be there), I don?t want to be 65 and working a 12 hour shift at Wal-mart.
 
I?ve never set yearly goal and maybe that why I am feeling the pressure with retirement staring me in the face. Career wise I have necessary years in but not the age. In July of 2008 I will have the age. I?ve been maxing-out my 401 payments for years but I can touch that to age 59 ? . My retirement would pay around 3 ? grand a month. So I would have to supplement my income if I want to maintain my present life style. That is why I spent $7,000.00 in 2005 to lean options, and trading stocks. That is the best 7 thousands I have ever spent. I am almost to the point where I want to be with trading. 2007 was a very good year for me the stock market. Come this time next year and I do as well as I did this year in the market. I may consider a change in careers.
 
I reached all but one financial goal this year and it was the most important one... drafting a will. I hope to, no will get it done in '08.

In 2007 I:
-Opened a 529 for the kid
-Beefed up efund to six months living expenses
-Paid off 25% of my student loan
-increased 401k contribution to 12%
-Opened a Roth IRA & contributed max amount for '06 and '07.

I've recently relocated, sold my condo and bought a house. I used part of the efund as downpayment so now I have to work on: replenishing the efund, rolling over my previous 401k, paying off the student loan, and getting a will/living revocable trust drafted.

I'm not where I want to be but financially, I did well in 2007. :tup:
 
Mostly met but really feel off with impulse spending at the end of year. But caught myself and readjusted.
 
You must log in or register to reply here.
Back
Top