I'm sure all of you have heard the following statement before: "Goals are extremely important to your success." Nothing new there.
But consider the following fact: Research has shown that JUST WRITING A GOAL DOWN will make you more successful than had you not written down the goal. Wow. Just writing it down makes me more successful? That is powerful, and too easy to accomplish.
As such, listed below is a brief summary of my Passive Income goals for the next three years as well as my ten year goal.
I will provide more detailed goals, as well as progress updates, through individual postings (perhaps on a quarterly basis), but here are the big ones for my life as it relates to Passive Income. The number in parenthesis is my age for the corresponding year.
*See my post describing the details and reasoning behind my 2018 Goals List here:
2018 Income Investing Goals (32)
1) $17,000 Annualized Passive Income
2) $20,000 Cash Saved - for Real Estate Reserve
3) 30% Average Savings Rate per month
4) Max Wife Roth IRA
5) Max My Roth IRA
6) 810 FICO Score by the end of the Year
7) Contribute $161/mo extra principle payment to CO property
8) Contribute $117/mo extra principle payment to MO property
9) 1% Saved in TSP per month
10) $25/mo Saved in Kids College 529
2019 Income Investing Goals (33) (DRAFT)
1) $20,000 Annualized Passive Income
2) Purchase 5th Rental Property
3) 31% Average Savings Rate per month
4) Max My Roth IRA
5) Max Wife Roth IRA
2020 Income Investing Goals (34) (DRAFT)
1) $22,000 Annualized Passive Income
2) Purchase 6th Rental Property
3) 32% Average Savings Rate per month
4) Max My Roth IRA
5) Max Wife Roth IRA
2026 Income Investing Goals (40) (DRAFT)
1) $40,000 Annualized Income
2) 10 Rental Properties
3) Real Estate Business Fully Operational
OLD GOALS
2016 Income Investing Goals (30)
1st Goal: $10,000 Annualized Passive Income - Failed: $8,841
2017 Income Investing Goals (31)
4) 800+ FICO Credit Score - Failed
7) Max Wife Roth IRA - Failed (95% complete)
8) 1% Saved in TSP per month - Failed
We'll see how it goes. A wise man once said "Many are the plans of a man's heart, but it is the Lord who determines his steps." In any case, here's to an exciting ride and I'd love to hear your thoughts below!
Passive Income Dude
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