Goals

The Road to Financial Independence

Posted on by Kipp

Road

I have had a vague idea of when I would become financially independent.  Somewhere between age 46-50 was the general idea.  I can’t say when it will happen for certain, circumstances change, inflation happens, or life events.  But I can say if everything cost wise and lifestyle wise were to move in the same direction as where I am today, that I know when I can retire.  The good news is I am a bit of an optimist and I hope I can create a larger spread in savings, paying off debt, and make a little more income than inflation.  Who knows, if this blog starts to make a little money a couple years into the journey that is all money that will speed up this process.

After reading a detailed post from Big Guy Money on his journey to financial independence I thought maybe I should share my thoughts on the time frame for my journey here. So this post will kind of give you an idea of where I am going now and how I plan to get there.  Kind of like a travel guide subject to changes due to unforeseen circumstances. Continue reading →

Goals For 2014 and Beyond

Posted on by Kipp

Even though the year is half way over, I think it is important to establish my goals for the remainder of 2104.  There are two financial marks I desire to reach and two different personal marks.  In addition I want to discuss long term goals.

2014 Goals

Goal # 1 – Maintain at least a 50% savings rate for 2014

I think that I am at a good start in this area, although I did have a lively debate with Dividend Mantra over what should be considered an expense.  I would prefer to hit 60% in this category, but I have a huge expense that will be occurring either this month or the next.  I contemplated capitalizing this expense, but I don’t think it will increase my home value dollar for dollar necessarily.  It may, but I don’t plan on selling my home either.

Goal # 2 – Reach $45,000 Net Worth by year end

Originally I was going to go for $50,000, but as I said I have a large upcoming expense, that I will post about when it is all said and done.
Continue reading →