Hello to all...
I get a lot out of this forum, and really want to give back. While this is not a data sheet per se, I still hope you find value.
Please know that sharing this information with you is as important to me as your feedback.
As the post title describes, this thread is about me getting my shit together. I composed a list of priorities for the new year 2017. The list could easily be called 21 things that are on my mind. Ironically, it took me until the end February to complete. Some of this is original content, while other items were borrowed from other credible sources. You gotta start somewhere. Also, I noticed upon reviewing, that many of my list items are financial. The next step is to connect deadlines and action steps to each item.
Here we go:
1.Can live a full year without earnings. Identify bare bone expenses. Save one year of f-you money.
2.Go fully electronic, track expenses, and all money expenditures.
3.Continue to contribute to emergency fund monthly.
4.Adjust financial overhead and lifestyle to positively cash flow every month. Restructure life so that I can live off 50% of my earnings. Use Balanced Money Formula: 50% needs/30% wants/20% savings.
5.Use 4% denominator as rule of thumb based on long term investment in the stock market, which will allow for a near certainty of 30 years of specified withdrawals adjusted for inflation without running out of funds. Take your one year living expense figure (the numerator) and divide it by 4% (the denominator). Perhaps a simpler way to look at it is to multiply your yearly expense figure by 25. And this is your magic number for financial independence. These are the funds that you will need invested in an appropriate mix of stocks and bonds that you can draw from for the rest of your life.
6.Control time and money using hour by hour calendar and budget.
7.Scale my business to the point that not all earnings are dependent solely on my efforts.
8.Develop side hustle. Use part time job to augment savings.
9.Update savings goal 3x yearly salary by 45 years of age to adjust by 49th birthday in September. Engage financial planning resources.
10.Embrace minimalism in daily life. Start small: clean out drawers, closets, get rid of extra clothes, books, tools, dishes, furniture.
11.Improve diet, lose weight, curtail drinking. Cook on Sundays for the week – Costco, Trader Joe’s, Whole Foods bulk bins, cooking parties.
12.One approach a day/minimum – meet new and different women.
13.One date a week depends on effort and planning.
14.Cardio and weight training weekly/daily
15.Other exercise: meditation, hiking, spin class, basketball, walk around park
16.Learn/Relearn/Improve my Spanish: Pimsleur language course, private tutor
17.Travel: South America, Thailand, Nashville – Summer 2017, Florida
18.Write script
19.Nurture my existing relationships more carefully: Daily, weekly phone calls, plan and schedule them
20.Make some new friends. Going to different places yields new outcomes.
21.Go on quarterly mini vacations: Mammoth in March
________________________________________________________________
Sometimes I take notes, sometimes I take hostages. It all depends on the day.
I get a lot out of this forum, and really want to give back. While this is not a data sheet per se, I still hope you find value.
Please know that sharing this information with you is as important to me as your feedback.
As the post title describes, this thread is about me getting my shit together. I composed a list of priorities for the new year 2017. The list could easily be called 21 things that are on my mind. Ironically, it took me until the end February to complete. Some of this is original content, while other items were borrowed from other credible sources. You gotta start somewhere. Also, I noticed upon reviewing, that many of my list items are financial. The next step is to connect deadlines and action steps to each item.
Here we go:
1.Can live a full year without earnings. Identify bare bone expenses. Save one year of f-you money.
2.Go fully electronic, track expenses, and all money expenditures.
3.Continue to contribute to emergency fund monthly.
4.Adjust financial overhead and lifestyle to positively cash flow every month. Restructure life so that I can live off 50% of my earnings. Use Balanced Money Formula: 50% needs/30% wants/20% savings.
5.Use 4% denominator as rule of thumb based on long term investment in the stock market, which will allow for a near certainty of 30 years of specified withdrawals adjusted for inflation without running out of funds. Take your one year living expense figure (the numerator) and divide it by 4% (the denominator). Perhaps a simpler way to look at it is to multiply your yearly expense figure by 25. And this is your magic number for financial independence. These are the funds that you will need invested in an appropriate mix of stocks and bonds that you can draw from for the rest of your life.
6.Control time and money using hour by hour calendar and budget.
7.Scale my business to the point that not all earnings are dependent solely on my efforts.
8.Develop side hustle. Use part time job to augment savings.
9.Update savings goal 3x yearly salary by 45 years of age to adjust by 49th birthday in September. Engage financial planning resources.
10.Embrace minimalism in daily life. Start small: clean out drawers, closets, get rid of extra clothes, books, tools, dishes, furniture.
11.Improve diet, lose weight, curtail drinking. Cook on Sundays for the week – Costco, Trader Joe’s, Whole Foods bulk bins, cooking parties.
12.One approach a day/minimum – meet new and different women.
13.One date a week depends on effort and planning.
14.Cardio and weight training weekly/daily
15.Other exercise: meditation, hiking, spin class, basketball, walk around park
16.Learn/Relearn/Improve my Spanish: Pimsleur language course, private tutor
17.Travel: South America, Thailand, Nashville – Summer 2017, Florida
18.Write script
19.Nurture my existing relationships more carefully: Daily, weekly phone calls, plan and schedule them
20.Make some new friends. Going to different places yields new outcomes.
21.Go on quarterly mini vacations: Mammoth in March
________________________________________________________________
Sometimes I take notes, sometimes I take hostages. It all depends on the day.
