Well the big one for me would be: to implement more short term goals!
I set a target 4 months ago to pay off my car loan by christmas. I Bought a camping trailer, and had someone run up the back of my parked car without leaving a note… but still managed to pull it off a fortnight earlier than my initial target. And a full 4 years ahead of the loan term.
It's amazing what you can do when you are focused!
Next year I will improve my cashflow and personal balance sheet further by:
1. Eliminate all non-deductible debt, that is not related to my PPOR, by end March;
2. Complete renovations on PPOR by end April, and revalue;
3. Take a short holiday for my wifes 25th birthday;
4. See a lawyer about establishing proper structure for future developments, for my situation.
In the 5 year look-ahead I aim to:
1. Convert current PPOR into IP;
2. Complete at least one small development project (subdivision, renovation, dual occupancy, etc) per year;
3. Produce a minimum of $400 per week passive income (or $20,000 lump sum per year);
4. Undertake one 4 unit development project;
5. Set aside at least 40% of household combined income for investment purposes, and 10% for savings purposes.
Great thread, really wonderful seeing other peoples goals!
The big plan for this year is to finish our development. It probably wont happen, it's already been 2 1/2 years, but I can work towards achieving. And I can watch people achieve along the way which gives a boost when you need it!
I'd also like to refocus this year too, get some of the 'WHY' back.
PPOR recently paid off first 2 IP's doing well, they will be cash flow positive after tax. In the middle of applying for finance for IP3 hopefully it will be off the ground in January. This one will also be cash flow positive after tax. Will be getting low on equity so will have to wait a bit for IP4
Our first (biological) baby is due in April 2013 so I'm throwing all investment/business goals out the window and will be focusing on trying to support my wife as best as I can. It's an exciting/nervous time but it can't come soon enough!
To do list for 2013 (hell I'm too old for goals I'm working on my bucket list)
1. in to hospital to get a few running repairs done, pipes valves and pumps need a reco. Bellows are probably buggered by I here oxygen is still cheap and plentiful. Teeth – last count I have enough to last me. Eyes? Not sure what to do about them. I'm on 1.5's at the mo' bit annoying really but mum doesn't look as scary in the mornings.
2. Buy a couple of Seadoos for me and the old girl. They say drowning's a nice way to go if it all goes south.
3. Thinking about an overseas adventure – suggestions
4. property – hell no. It's still a spectator sport around here
5. set up a business or three
6. maybe a grandson/daughter in August – Jeez a grandad