2009 Goals V2.0

I’ve had so many changes in the first half of the year that my original goals aren’t quite what I’m striving towards.  So I’m going to redo them.  For comparison, original goals can be found here.    Bold items are alterations, strike outs are (obviously) no longer applicable, green are completed.

2009 Goals Redo

Retirement

• Max out Roth IRA by contributing a fixed amount each paycheck
• Contribute 15% in 401k from July to December

Cash Savings

• Increase car fund by $5000 (currently at $370)
• Save/Spend $5000 towards wedding/wedding fund
• Start “Long Term Travel Fund” and get balance to $1000
  
• Maintain Efund up to at least $16k by end of year
• Increase Student Loan Account by $1000

Career/Education

• Continue towards M.S. taking 4 classes
• Be proactive about job/career (quite vague…  Perhaps should define this more clearly…)
  • Talk to manager about career goals and ask to look for new assignments
  • Get my job classification changed == raise
  • Take part in one of those work involvement groups

Life

• Camping on Catalina (spring break?) was all booked by time I planned it
• Big Sur (summer vacation?) Doing kings canyon instead
• Sespe Wilderness area Did San Gorgonio instead
• Run a half marathon (probably not), or at least, Keep up running, do a 5k, for real
• Visit friend in Portland before she moves back to the Midwest
• Mt Whitney? Did Mt Lukens… Maybe do Mt Baldy?
• Move to new apartment
• Keep monthly clothing spending under $100/mo average
• Try out ocean kayaking
• Take a morning yoga class on the beach

Weekend Goals

I posted my July Goals a week ago… but so far I’m kicking butt on them!

Which motivates me to add some Weekend Goals.  This won’t be an every week thing, just a special feature this weekend! We were out of town last weekend, and the previous weekend was spent having fun with friends, so it would be nice to take care of a bunch of crap this weekend.

• Watch Lecture 7 (90 minutes)
• Watch Lecture 8 (90 minutes)
• Do all HW problems due Monday (2 hrs?)
• Eye appointment:  get new contact prescription
• Go out to event on Saturday (I know specifically what we are doing — I’ll tell you after we went!)
• Wash car, in and out (monthly goal)
• Figure out how to log into my Health Savings Account again
• Run 30 minutes
• Bring car in for oil change (NO, I will not learn to do it myself, and NO it does not save that much money)
• One load of laundry
• Help T with the bathroom or kitchen floors or other deep cleaning.  (I think) I’m much better at keeping things tidy and not having a million papers everywhere…  But he’s certainly better at the actual scrubbing/vacuuming deep cleaning chores that I hate
• General stuff:  Tidy, dusty, take out recycling/garbage, etc.
• Rough meal plan & buy groceries
• Cook the couscous salad I’ve been eating a lot lately for lunches, double batch

Bonus Points:

• Go for a hike on Sunday morning (instead of run).  Unlikely, but maybe!
• Or maybe go to gym and rock climb, use treadmills, or use weights.  We’ve been talking about starting some sort of strength building program, but no action yet.
• Donate stuff, again, and glance through closets (again) for things to be donated
• Go through all those papers on desks and organize them, shred them, throw them, etc.
• Plan out meals for our backpacking trip (if our permit arrives)
• Go to REI for the few small things we need (biodegradable soap… and some other stuff) & return other items

Whoa.  Don’t worry, I’ll still have time to relax, I promise!

What’s going on in your weekend? Productive?  Fun?  Chill?  Whatever it is, I hope you have a good one!

Lists

Reasons why I shouldn’t even think about purchasing real estate

1. In the areas I want, I could only get something tiny
2. I have exactly $0 designated to home purchase (I could shuffle stuff around and make that more… but not enough for 20% down)
3. I don’t know where I want to live long term
4. How bad is this recession going to be?  Will it affect my job?
5. I want to live abroad for awhile
6. A condo going for half a million still looks like a bargain to my eyes.
7. Have some other unknown $$ expenses coming up
8. Would have to give up other priorities that make my life happy
9. I have my whole life to buy property and settle down

(image by Locator)
Reasons I should:

1. $8k tax credit!!!
2. Historically low mortgage rates
3. A condo for a half million?  What a steal!! (sarcasm… sort of.)

2009 Goals, v1.0

I’ve seen a bit around the pf blogs about 2009 goals, so I guess it isn’t too early to plan them.  I’ve had mine sketched out for quite awhile, but it seemed premature to post them in October… Due to a multitude of other unknowns*, these goals are a bit of a shot in the dark.  The numbers will likely change, but the core ideas will be the same.

2009 Goals

Retirement

• Max out Roth IRA by contributing a fixed amount each paycheck (same, except changing from monthly budgeting to per paycheck budgeting for Roth IRA only)
• Contribute 10% in 40k (up from 8%)

Savings

• Increase car fund by $5000 (currently at $370)
• Start “Long Term Travel Fund” and get balance to $1500 (not enough, but a good start)
• Maintain Efund up to at least $16k by end of year (will be about $15k by start of year)
• Increase Student Loan Account by $1000 (currently about $1500)

Career/Education

• Continue towards M.S. taking 3-4 classes (might take the summer off, because that sounds fabulous)
• Be proactive about job/career (quite vague…  Perhaps should define this more clearly…)

Life

• Camping on Catalina (spring break?)
• Big Sur (summer vacation?)
• Sespe Wilderness area
• Run a half marathon (probably not), or at least, keep up running (probably).
• Visit friend in Portland before she moves back to the Midwest
• Mt Whitney?  T really wants to do this, but I don’t know if we’ll have the time to devote to training this year.  He’s more optimistic.
• Move to new apartment

Those are my general plans.  Once I get into 2009, into my new apartment, figure out my new rent, and see how my health choices affect my take home pay… I’ll play around with the numbers.

(*Unknowns include:  Hoping to move in January, hope to have T move in with me in march/april/may, different health care costs, hopefully a raise, hopefully not laid off, and at least one major expense that I’m not discussing just yet.)

Goal Snowball

I’m going to do a sort of “goal snowball” to get my Emergency fund to $15k by the end of the year (or at least, by January 2009).  Typically, I approach my goals in a balanced way, giving the most money to the highest priorities, but still providing some to the goals that are a little further down the list.  But I’m going to deviate for two months and go all out on finishing the emergency fund.

Now that my student loans are in remission (deferment, but I like to call it remission), I intended on contributing $75 each month to a dedicated savings account to offset the balance (because who pays a 0% interest loan?).  That is roughly how much was going to principal each month.  However, this student loan fund will be on hold until the Efund is goal reached.

My car fund is around $350, which will cover minor repairs.  I’ll suspend contributions to that as well.

My gift fund is around $300, which is what I’ll need for the holiday season (plus November’s and December’s $100 contributions).  My travel fund will go back to getting the basic $75/month contributions, but I don’t want to suspend that one.  I’m also a little ahead on Roth IRA contributions, so I only need to put in about $190 November and December.

With those adjustments to my budget I should be able to shuffle $650 for both November and December into the Efund, ending the year really close to $14,900.   I’ll settle for topping it off in January.

So basically… I’m not really doing anything differently.  Money that was for one cash pot is going to  another cash pot.  A dollar by any other name is still a dollar.   Still, the efund has been this ever moving goal post, a goal I’ve worked towards since I graduated in May 2006.  It’ll be very very exciting to call  it DONE (even if it means I’ll just be calling my cash savings by another name).

Financial Priorities

I finally came up with a date for my $15k efund goal:  By March 1st 2009, I’ll have $15k in my efund. Now it is a SMART goal.

This is working on several assumptions, some of which have high probabilities of being false:

• We don’t lose our contract or we lose it, and I keep my job anyway.  Or find a new job within seconds.
• There is not any sort of annual bonus (February I think).
• My take home pay doesn’t change in January (not sure about this).
• I don’t decide to put some of this money towards a wedding.  (This thought won’t be discussed at this time, as I’m not even engaged.)

Whatever.  I picked a date that might be achievable.

Then what?  I don’t think I’ll increase my goal beyond $15k, especially since I’m anticipating a drop in expenses (ie, rent) sometime next year.  I have a long list of financial priorities from which I develop my budget.  Actually, that might be worth sharing!

Isn’t it pretty?  I put it on the “Master” sheet of my budget spreadsheet.  It will take a quite some time to complete this list, and I’m sure it’ll evolve over time.  When we eventually start making financial goals as a couple, listing out the priorities in a clear fashion will be really useful.  If you agree ahead of time what you are trying to accomplish, the actual numbers are much easier to fill in.  Even if you are only agreeing with yourself!

2008 (and beyond) Goal Status

I decided to take a look at my 2008 and longer term goals, and evaluate my progress.

• Contribute 10k in 401k this year and 5k in a Roth: This is going well and should be no problem.  Balances are dropping, but my contributions I can control.
  
• Take one graduate course in the fall I’m all registered, start next week!
• Get efund up to 15k by the end of the year 13k by the end of the year (too ambitious), 15k eventually. This is going well, but has tapered off due to REI.  I’m going to shoot for 14k, which will be more of a stretch.  I’ll hit 13k no problem.
• Take a sailing class in the spring Done!
• DO NOT PAY EXTRA ON STUDENT LOANS. I’ve paid extra 2-3 times.  Much less than I have in the past!
• Run (or similar) three times a week or more A little spotty, but generally, going well.  I seriously need to increase my food intake in order to stick with this.
  

Midterm goals

• Get M.S. by the end of 2010 This shouldn’t be a problem if I just chug away at it, one class at a time.  And they accept my 2 transfer credits from my other graduate university.
• Hike Half Dome in Yosemite I’m getting my hiking skills up, but the thought of those chains freak me out!
  
• Run in the L.A. marathon (2009) sometime, but probably not 2009  Maybe someday, but not soon.
  
• Have 100k in retirement by age 30. If the market cooperates (eeek!).  I’m inching my way towards $30k, but it’s slow going and quite rough lately!
  
• Live and work abroad for awhile before “settling down” somewhere I haven’t exactly made any progress, but the outlook is still good!
  

Long Term Goals (These aren’t well defined yet, but I’ll figure it out as I go)

• Be content Oh, if only I could be!
  
• Travel as much as possible Yes and no.  Funds are limited, but ambitions are high!
  
• Save “enough” for retirement Who the heck knows??

July Goal Results, August Goals

1. Resume running habit, 3x a week or more. Success! Well, ok, one week there was only two little x’s, but I have good reasons. And average was great.
2. Clothes: Quality strapless bra, inexpensive sunglasses, keep within clothing budget. Start to look around for quality brown work shoes. Fail, let’s just not talk any more about clothes! (Did get the sunglasses and shoes.)
3. Stay within July budget, (with extra focus on grocery + dining out). Success. I guess. The numbers add up, groceries and dining out were fine. I just don’t feel very successful!
4. Finish my book. Fail. Eeek. I obviously don’t care about reading any more. I did listen to the Alchemist on my iPod.
5. Add $25 extra to travel fund ($125 total). Success!

August is going to be a difficult month to set goals for, since I’ll be on vacation for part of it. I’m going to put a bunch of little lame goals in, so I can get more successes next month.

1. Continue running, get new shoes, run in the a.m. before work at least three times (hey, I’m not a morning person, it is a start).
2. Stay in vacation budget while having a blast.
3. Start side job. This isn’t a goal so much, as I have little control over it… but I think it is really going to happen this month!
4. Schedule doctors appointment, and dentist too.
5. Figure out cable/internet situation. Promo rate ran out, there’s no way in heck I’m paying $100!
6. Fill out transfer credit request form for school
7. Oh, and get a student ID card too (yay discounts!)
8. Have a happy interim review with manager, where he tells me how great I am.
9. Get my free miles (spend $500? what a horrible pf goal!), and make decision about flying home in September.
10. Work extra hours before and after vacation to flex at least 8 hours of it.
11. Sign up for career development class. I did one of these in the spring, and it was a little annoying, but I may as well take advantage of it. I’ll have little time once August is over.

Goal overload? Yeah, maybe, but some of these are just life tasks I need to do anyway.

I need to post these in a nice prominent place so I remember to think about them this month.

The running in the morning thing seems like a good idea, since as soon as school starts I’m going to need to be extra disciplined and manage my time really effectively. It’ll be difficult. I’m not a morning person, and staying in bed a little longer always seems great. I’ve also been in the habit of reading (and sometimes writing) blogs before work, which is a sort of silly waste of time. Now is the time to start integrating effectiveness. By the way, i suspect blogging will go down (but not away).

I also want to make it a point to be more productive at work, as much as possible. For awhile, they weren’t providing me with enough assignments, and it was frustrating, but I’ve had challenges all week, yet I feel ineffective. I need to push myself. This isn’t really a goal that can be quantified, but it really is the highest priority of all.

100 push ups

I’ve noticed several pf bloggers doing the 100 push up challenge. First, girls, are you doing all out push-ups or modified style?? If you are doing them normal style, I’m extra impressed!

Anyway, I started the program Tuesday night. While I never had any burning desire to do 100 pushups, I do have a desire to increase my strength.

What I really need is an overall strength training program, sans gym. I have access to a “gym” at my apartment, with a (yes, one) weight machine. I am more comfortable with free weights.  I have 5 lb and 10 lbs, which should get me through a several weeks before I need something heavier. Weights at 15 lb are $20 each. At that point I probably can make friends with the weight machine rather than cluttering up my life with more weights. I like working out in my living room, but it is unnecessary.

I’m not trying to lose weight or anything, just improve my overall fitness. Hiking will be a lot more enjoyable if the hikes are easier for me, so I want more strength and endurance. I also have a faint dream of hiking Half Dome in Yosemite, but we probably wouldn’t do that until sometime next year anyway. Next month we are going to the Grand Canyon, and I have to select some hikes to do.

I’m a little limited in my fitness spending, so I mostly run, hike, and workout and do yoga in my living room. I just don’t have the budget for it.   I’ve been talking about rock climbing for awhile, but I can’t justify the cost yet. It isn’t that expensive, but it is more expensive than free and I don’t know how to do it yet. I also want to take a two-weekend surfing class, even though I am pretty sure I’ll never actually really learn to surf. Real yoga classes would be sweet. And sailing classes? I could continue those. I’d like to buy a bike, but I don’t think I’d ride it to work often enough for it to actually pay off (the route isn’t very nice). Still, I can do a lot and have fun just by sticking with activities I don’t need to spend much money doing. One thing at a time, and right now, that thing is camping/hiking.

By the way, I just got two tickets for Dark Night (matinée) for $8.75 using this promotion from Discover Card/Fandango. Great deal for L.A.!

Marathon Thoughts and Am I Superwoman?

I’m seriously considering running a marathon, but I’m also seriously scared. I sketched out a training schedule that has me running a 5k next month (easy!) then starting a half marathon training program (concluding in November or so), then starting a full marathon training program concluding March 1st, the LA marathon. Yikes. I do not want to lose my toenails.

Budget considerations:

• New running shoes, $70 x 2 = $140 (I figure I’ll go through my current pair and up to two more. Realistic?)
• L.A. Race Fee: $105
• Fees for other planned races: $165 (a 5k, 10k, half marathon, and $50 extra in case I want to add another one.)
• Paid Training Program: $0 – $125 (Any thoughts on these?)
• Total: $410-$535 (Am I forgetting anything?)

This takes me from today until the beginning of March, roughly 8 moths of commitment (mostly of time, but also money). It comes out to roughly $50-$65/month. If I’m going to do this, I need to make a Marathon category in my budget, because that is how I like to do things. Where can I steal $50/mo from? I can get $30 by canceling cable, which I probably should just do anyway. I’m reluctant, because I think I get a lot for that $30: DVR service and a lot of channels. In the fall, I will not have a student loan payment. I wanted to save the difference, but I suppose I could divert a small portion to this project.

And what about time? Could I really accomplish all of the following:

• Work full time (40 hrs/week)
• Grad student part time (15 hrs/week)
• Work part time for start-up (10 hrs/week. This is not certain, still considering.)
• Train for a marathon 6 hrs/week
• Plan a wedding (Also not certain, but there is a good probability.) ? hrs/week.
• Sleep (3 hrs/week) Kidding. Much much more than that…
• Have a life

That is about 71 hours a week in committed time (work, part time work, marathon, and grad school). Ten hours a day, including weekends. What are my priorities? My full time job is first, and grad school is second. After that, I’m just not sure. That is what I need to answer for myself.

I’m quite torn about the new opportunity. On one hand, it sounds interesting. I’m not completely sold that the company will be a success, but I think it’ll be viable in the short term and might have long term potential. It would benefit my career even if it fails by diversifying my background. I really feel like turning it away would be a mistake, that I’m young and this is an opportunity I should seize. I know that I absolutely can’t promise any more than 10 hours/week, and I’m not sure he would be interested in that little commitment. If not, I understand, and my choices is made for me… On the other hand… I have a lot of other stuff I want to do now. Could I even manage work + school + part time gig? Am I superwoman?

No, I am probably not superwoman. (But maybe? Possibly?)

(I was up until almost 1 a.m. writing this, thinking, and casually surfing the internet for marathon training info. Sigh. Definitely NOT superwoman.)