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My goals are: to increase my net worth by $20k in the next year. to convert some net worth to income producing investments totalling $40k additional (including the above goal). The aim behind this is to increase my passive income and diversify my investments. My revolving credit on the house will end up being leveraged more but to a comfortable level, allowing some buffer in the emergency fund. 2014 was really the year where I've changed everything around to invest as I don't need more material possessions at this point.
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Dec 14, 2014 05:49
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| # ¿ May 11, 2024 21:01 |
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As a part of my general goals I have added an $88/month payment to Kiwisaver. The only contribution worth making as a business owner is just under $87/month to get the 50% top up from the Government. I don't get the employee contribution but on the flip side I get a lot of write offs that employees don't get in New Zealand. The future capital gain bonus I will get in the future is the house I bought last year is in an area of the city that is going to be replanned to allow higher density residential construction. That will take 3-4 years to come into effect and I plan selling in about 10 years so I should be able to realise some gain above inflation.
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Feb 9, 2015 00:29
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Devian666 posted:My goals are: My net worth is up $11k but my investments are only around $9300. I'm not quite where I thought I'd be but I need to review my forward cash flow. Then I'll open my stock market account so I can but the ETFs I'm looking at.
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Mar 2, 2015 20:47
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Not a Children posted:I've found that when well-to-do people are perpetually broke/indebted in a nonobvious way, it's because of one of 4 things: Drinking and smoking. These are very expensive, more so when combined.
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Mar 9, 2015 00:25
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I seem to have blown through my goals accidentally. House prices in my area are up with the current growth, just a bit more than I thought would happen when I bought last year. My net worth target increase for this year was a $20k increase but it has gone up $7k from income and $35k from the increase in value of my house. My second goal was to have $40k extra invested and with the house price increase that goal has been passed at $43k. I'm making the stretch goal $40k invested in non-house assets.
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Mar 12, 2015 01:01
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Veskit posted:MARCH SUCKED I was going to say you can take a break from budgeting but then I noticed it's item 3. You're locked into some form of budgeting.
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Apr 2, 2015 00:29
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Veskit posted:Manual entries and dealing with multiple accounts. Also I just have not been finding it useful. The first one is dealing with debt collectors and between balancing a lawsuit and researching court cases, and loving dealing with the fallout of these collections is tiring and making me not budget as much. Also I had a rough work couple of week because we were paying out bonuses and I work in payroll for a fortune 500 so it's a bit of a nightmare. You have a number of high priority things to deal with. A less time consuming budgeting process would help you focus your energy on things that need to be sorted out. I did a massive catch up on all my business accounts and invoice so I'm ahead of where I need to be for filing the last financial year by about two months. It's been exhausting but necessary. Do what you need to do to sort out those collections.
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Apr 2, 2015 21:57
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Moneyball posted:I have it set up to pay the statement balance, rather than the full balance. Is that the way to do it? As in, the statement balance is what's subject to interest, and the remaining balance is applied to next month's statement balance? Or should I just pay it in full? This is the correct method. The statement balance is the portion that will switch from interest free to interest bearing. So you pay that amount. If you ever carry a balance in the future you need to pay off the entire balance to eliminate interest. Any payments go towards the interest free portion of the balance first.
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Apr 15, 2015 10:26
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District Selectman posted:$165k to $170k in June, the struggle is real I'm finding the mid-year struggle myself. I have a slip on my property that I'm waiting on the final engineering design and the sum of the insurance payout. Due to the way the insurance works I suspect I will be paying for part of it out of my own pocket as well as the cost of the fixing up my garden. So I'm just not investing anything until I have some certainty. That's all good though as it means my revolving credit account for the house sits at a nice level keeping the interest payments down. It does feel like it's a fight to move forward.
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Jun 29, 2015 01:30
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Devian666 posted:I seem to have blown through my goals accidentally. House prices in my area are up with the current growth, just a bit more than I thought would happen when I bought last year. My net worth target increase for this year was a $20k increase but it has gone up $7k from income and $35k from the increase in value of my house. Due to events outside of my control a slip happened on my property. I've got a small insurance payout to go towards it. I need to build a retaining wall so some of the costs will set me back but it will add value to my property. I don't have any choice which is frustrating but it's not a major set back. By the end of the year I will have blown through the stretch goal but invested in my house. Non-house investments will need to wait until next year.
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Sep 17, 2015 21:05
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Moneyball is just starting to fix up debts, and interest paid is an issue. http://forums.somethingawful.com/showthread.php?threadid=3256838&pagenumber=290&perpage=40#post450778822
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Sep 30, 2015 19:59
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Devian666 posted:I seem to have blown through my goals accidentally. House prices in my area are up with the current growth, just a bit more than I thought would happen when I bought last year. My net worth target increase for this year was a $20k increase but it has gone up $7k from income and $35k from the increase in value of my house. I noted earlier that a slip happened on my property which means I can't invest in non-house assets. I will be building a retaining wall costing over $60k which will exceed the above goal and it will only be partially levered with the revolving credit account on the house. It's not what I'd planned but it's essential work. It looks like next year will be the year to diversify into other financial instruments.
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Nov 22, 2015 19:44
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Omne posted:For most people I believe fiscal year and calendar year are the same. Regardless, I assume most everyone in here is posting goals based on a calendar year (I know I am) Different for me but I go with calendar year because it's easier and I think about the next year's goals around Christmas and January anyway.
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Dec 1, 2015 01:42
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spwrozek posted:Nothing will change for the end of the year. Working on real financial goals for next year. Good times. I've passed both goals I set this year although one needed modification due to a natural disaster. My main issue is I have no idea what to set as a goal for next year. If I get a good enough offer I may sell half the shares in my company next year which would likely blow away any net worth goals. So it's time for a rethink.
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Dec 2, 2015 05:20
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My goals have long since been met. I think I'll hold off with 2016's goals as there's a deal that will either happen or not. The deal has too much money involved to be worth setting any further goals until after that is resolved.
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Dec 14, 2015 18:40
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legsarerequired posted:BFC has been so incredibly helpful for improving how I manage my money. Even better, two of my friends told me that they started saving more for retirement after watching the changes in my behavior. That's great, it's good to know they will be better off in retirement. It's easy to forget how much your behaviour can positively influence people. Within my office one person asked about credit card rewards. Another I discuss mortgages and finance with and he went from a 6% floating rate mortgage to a 4.4% fixed rate for the next year. He's happy with the reduced interest payments. A couple I know asked what it would take to get a house. They've transitioned from doing a lot of art to working a lot (and hopefully saving). I think the idea was in their minds already but they didn't know what they'd need to achieve to reach their goal.
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Dec 21, 2015 03:20
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| # ¿ May 11, 2024 21:01 |
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I'll take the gang tag as well. I met and exceeded my goals in the most roundabout fashion possible. That and the tag is ironic because I don't live in the US and the New Zealand equivalent retirement savings account is the one with the lowest balance (due to there only being a small tax advantage to myself).
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Jan 1, 2016 20:55
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