2011 Goals
Posted by Canadian Dream on November 12, 2010
So after knowing I’m going to fail at making my 2010 goal you might think I would give up making an annual goal in 2011. Yet I’m still going to do it. Why? Because I’m a firm believer that if you write down a goal strive for it and miss you will be further ahead then if you never had the goal at all. So here are my 2011 goals:
Goal #1: Pay down mortgage principal by $39,000.
This year I’m giving myself a little slack since I’m getting better at estimating what I can reasonably do in a year. So even when I really wanted to round that number up to an even $40,000 I resisted the temptation. For those of you wondering where this will leave me in the longer run I should be close to paying off my mortgage by the end of the first quarter of 2013 if I keep up this pace in 2012.
Goal #2: Self publish my book, Free at 45, by end of the first quarter 2011.
After working on/off on this project for the last few years I’m rapidly getting to the point I just want to get the project over with. If you have never written a book before let me be honest. It’s a LOT of work and more than anything just takes commitment to get it done. Depending on how badly this turns out or not, I might consider taking book proposals for launching a 2012 title.
How about you? What goals are you planning to do in 2011?
Our goal is to continue to save 4 – 5k per month for 2011 so that by early 2012 we can be in a position to pay off the mortgage completely, or pay off a good chunk of it, renew for a 1 year term at a cheap rate, and keep lots of cash ready for investing opportunities.
$10k to max out both of our 2011 TFSA contributions
$24k in extra mortgage payments
$12k in RRSP contributions (in addition to automatic payroll deductions).
$6k to kids education fund
Extra commitments under consideration, but which would require me to add a PT job:
Finish recroom ($5k), $5k more to replace furniture
Replace back deck ($5k)
Complete landscaping ($2k)
SURVIVE!
Just had my first child in May, switching to single income. shoud be interesting.