HAPPY NEW YEAR PEEPS!
Here are my goals for 2018. See my past January goals posts here:
DOUBLE DEBT SINGLE WOMAN GOALS FOR 2018
ONE. Pay down my student loan debt from $60,300 to $39,900 or less.
I want to end 2018 in the 30’s! This should be achievable in theory, given that my minimum payments (including interest) should get me to the lower 40’s by December. However, my extra payments this year will be substantially smaller than they were last year, so this meeting goal will take effort.
TWO. Increase my Net Worth to $100,000+
In my age group (40-44), most Americans have had time to accumulate some wealth. I’ve had the time, but don’t have the wealth. When I started this blog I had a net worth of over -$142k. This put me, for my age group in the U.S., in the bottom 1% according to this data. With a current net worth of $50k, I am now in the 46th percentile. I plan and hope to end 2018 with a net worth of over $100k, which will put me in at least the 59th percentile. As you can see, I have a long way to go in the coming years to get to where I need to be. Mosey on over to FourPillarFreedom (Thanks, Zach!) to see what this interactive visualization looks like for your age group.
THREE. Max out my 401k, Roth IRA and HSA
Given my age and repeated flirtation with career burnout, maxing out all appropriate tax-advantaged savings vehicles now is mandatory. Putting money aside every pay period to max my Roth will cut into the extra money I can put towards my loans. I’m prioritizing saving money in these accounts because they are ‘Use it or lose it’ every year. Any money leftover from maxing these accounts will go toward my student loan extra payments.
FOUR. End 2018 with no credit card debt
This credit card debt has been dogging me ever since I paid it off the first time…and the second time. I want to end 2018 with no credit card debt.
That’s it for this year.
I have no non-financial goals this year. I think we all know why…
I have an international trip planned for this year that I’m totally living for right now. Woot!
2017 had plenty ups and more than it’s share of downs for many of us. Here’s to 2018 being a year of power!