Posted by Tim Stobbs on January 21, 2010
Sorry I’m a bit on the late on posting this report of my 2009 goals, it took me a while to figure out the math on goal #3. In case you don’t recall my goals I’ve reposted them in bold below.
- Reduce my LOC balance to zero by mid-2009 (ie: June, July or Aug). Completed by March 26, 2009. A full two months early.
- Max out contributions to both my wife and my TFSA’s for 2009. Completed in April 28, 2009.
- Make total contributions to pension (employer and mine), RRSP’s, TFSA’s and taxable accounts of $25,000 in 2009. Remember this includes goal #2 as well, but final total was $28,400. So I beat that goal by about 14%.
My bonus goal should I complete the above with cash to spare is to make a extra mortgage payment (or two). Ok this one I more than made this goal. I estimated I should have paid off about $8000 in principle off the mortgage in 2009, but we managed to pay off over $16,000. So we paid off an extra $8000 or about 14 extra half month mortgage payments.
How the hell did we beat the bonus goal so much? Well keep in mind I got the school board job in late 2009 which allowed me to make about half of those extra payments. The rest came from a few extra payments and the fact we got a lower interest rate on the mortgage in the late spring so the regular payments paid down more principle than expected.
So on the money side it was a great year, but not so much on the personal goal side. My personal goal to finish a 1st draft of my book, but I failed to complete it. I would estimate I’m about 80% done. So what happened? Well it was a few items but the most significant was I changed my chapter structure about mid-way into 2009 and the resulting merging of chapters took way longer than I was thinking it would. I also had to toss out some previous writing. It was also just my fault that I didn’t focus enough time on this goal to get it done. I sort of fell off my daily work on the book routine in the summer and never got back on the daily routine again which cost me by the time I took on the school board job in the fall.
Rather than just feel sorry for myself about missing the personal goal I think I’ll just keep working on the book and get it done this year. When? I don’t have a clue, since obviously I underestimated the amount of time I needed to finish the project in 2009. I’ll keep you all informed when it’s close to being ready.
So how did you do for your goals in 2009? What did you make or miss?