From past athletic experiences I’ve determined that the only way to accomplish a goal is to formulate a plan to accomplish the goal. Furthermore, writing the goals down in a visible location is a great way to maintain accountability. I will do my best to update my progress towards accomplishing my goals on a monthly basis. The following is a list of my financial goals at the end of December 2008.
- Setup and fully fund a solo 401k ($0/$10,427.33*)
- Fully fund my Roth IRA ($0/$5,000)
- Save for a 3-month emergency fund ($0/$7,762)
- Finish saving for 20% down payment on condo (Completed)
*My solo 401k maximum contribution is based solely on my self-employed income for 2008, which will change monthly depending on the number of hours tutored.