I will be perfectly truthful here and honestly declare that my track record of achieving goals set at the beginning of years is generally poor. Yeah, as poor as Liverpool’s shambolic defence. 😥
For the past 3 decades of my life, I probably have sat down for at least 5-6 times contemplating the targets I should be achieving in the year ahead. And by the end of the year, more likely than not, I could take the whole list and repeat it for the following year. Urgh… 😕
But luckily for me, I have managed to break this vicious cycle during the past year as I can safely say that 70% of the targets I set for myself in 2014 were met. A combination of some public accountability, more free time without a 40 hour work week and the much lauded SMART description probably did the trick.
So with some positive experience under my belt, here’s my targets for next year.
1. Financial Goals
Increase portfolio size to $320k – On first look, this seems a very ambitious target since the Nov 14 portfolio is only slightly over $250k. But if you think about it, once I start work, the second OCBC 360 account should easily attract 2% of interest and it’s highly likely that I will be able to top it up to the maximum amount of $50,000 by the middle of the year. And a $20k increase in the valuation of the equities portion should easily be achieved through either capital appreciation or some injections.
Combined savings of $50,000 – Compared to the above, this is much more within my control. And instead of looking at just expenses, a savings target grants me more flexibility. Besides reducing expenses, this goal can be achieved by increasing income too. And I am also inspired by many other bloggers who consistently have set such targets.
2. Fitness Goals
12km in 60 minutes; 120 burpees in 15 minutes; 25 laps of breaststroke in 50 minutes – If you compare it with the previous year’s targets, I am keeping the pace for both the running and swimming but stretching the distances. I hope to be able to do both of these activities at least once a week. Burpees was a struggle this year as it’s pretty “unpleasant”. I would normally require at least a couple of days to recover from the aches after each session but it will be the main priority this year. Besides being a much better barometer of fitness, it’s also much easier to set aside 20 minutes than an hour.
IPPT Gold – With the changes made to the IPPT system, there’s really no reason for me not to be able to get a Gold and having an extra $500 in the bag.
3. Relationship Goals
A baby – I don’t know how much this is within our control but adding a member to the household is definitely on the cards in 2015/2016. No pressure though and probably enough already said on this. 😉
Satisfaction in new job – Although I am definitely not ruling out an early semi-retirement, adopting that kind of mindset towards my new career could prove to be defeatist. It’s a vocation aligned with my deepest values and I am going to do my best. I will constantly have to remind myself that the modest passive income should not “provide an escape” if I face a difficult challenge. Yeah, no shirking.
4. Personal Development Goals
26 NEW books – Yeah, there’s an emphasis on new as the habit of re-reading old books can be a big bane when taken to the extreme. Granted, this consolidates ideas but at the same time can make one closed to different or even opposing arguments. One book every two weeks from every kind of genre and I will actually be actively looking out for titles that challenge my worldview.
And here’s wishing all readers a Merry Christmas & a Happy New Year!