My Roadmap to Wealth

I spent a lot of time this week getting my finances in order, looking at my stock portfolio, and updating my budget. This inspired me to go the extra yard and finally put my long-term financial goals an steps to achieve them, down on paper…er, blog. So here it is (and as always, a work-in-progress):

SAVINGS/CASH

Maintain 6 month Emergency Fund

INVESTMENTS

Maintain an average ROI of 10% or more utilizing:

Tax Free Retirement Accounts

• Roth IRA - Maximum payment every year (now $5000)
• 403b - Currently add $10,000 - could do more but want more money to try other investments this year (RE, eBiz)
• Taxable Mutual Funds - Add anything extra. I currently automatically put in $200/m for kicks.

Real Estate
My goal is to Lease Out Single Family Homes w/ an Option to Buy in 2yrs for ROI of at least 25%
2008 - 1 house
2009 - 1 house
2010 > Purchase 2 properties for each I sell

Online Businesses
2008 - Start an online biz that generates $500/m in profit.
(attempt 1 failed but I learned much)

A great quote I read recently (sorry, don’t remember where or who):
“The most successful people are the ones that fail the most”
- just don’t fail the same way twice.