Midterm Goals Game Plan

2008 August 9
by Michael

Alrighty then-
A few days ago I went through my planning as to how I would accomplish each of my short term goals.  I still need to elaborate on goal #3 of short term, but I’ll leave that until a later post.
Here is my plan for my MidTerm Goals::::

Mid Term Goals

  1. By 20, be earning pretax $2500/month from my business ventures
  2. By 22 have $10,000 in personal account set aside for down payment on real estate

Here we go!

1. $2500.00 per month will equate to $30,000.00 per year.  My only real strategy behind this is to start and run as many different forms of businesses and investments as possible.  By spreading my money out over different industries, I should be able to even avoid any issues with the economy.  So if you have any ideas, I’d be on board for testing, just let me know :D   To have this accomplished by my 20th birthday, I have a year and 17 days from today to accomplish it.

2. Now, by 22 years old I want to have $10,000 saved up in a seperate real estate account that can be put towards a down payment.  Preferably, this will be accomplished before my 22nd birthday, but If I start on my 19th birthday (17 days from now), Then I will need to put $277.78 into the account each month in order to achieve the $10,000.  That gives me three years.  Should be “accomplishable”. :D   It will, however, require an update to my income allocation procedure though.  I’ll have to remember to bring that to the discussion with my pretty girlfriend :)

If you have any ideas or suggestions, drop em in a comment!
Maranatha!
–Michael

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