2008 Financial goals accomplished. What’s next?
My (pre-lump sum) financial goal for 2008 was to have $13K in our savings account. Just so happens, we currently have $15.7K in our savings account. And that’s post lump sum.
HOW (you might ask)?
Well it’s not all bad. I’ve been positioning myself and my family to be more prosperous for the future (starting in ‘09). Basically I’ve invested in myself and the market. As I’ve once hinted on, I’m planning on becoming a tattoo artist and I’ve invested approximately $10K in that which will give me a lifelong trade and a chance to make some really good $ down the line.
Besides that, I’ve thrown $20K in this down market with all of this turmoil surrounding us. I dind’t buy in at the bottom but I’m comfortable where I bought in. Because of our blessing, so far we’ve given away $3.5K ($500 left to give) to various friends and family in need. We also had to pay $2000 to our health insurance plan. To top it all off we went to Miami for Christmas which set us back about $3500.
So all in all, we have a comfortable 6+ months emergency stash saved up even while my wife & I losing our jobs at different times during the year.
Because of our investments I believe ‘09 will be a much better year despite all the negative things that are happening around us. I haven’t decided what our ‘09 financial goals will be because everything is so much up in the air right now. I have to be honest, I hate instability and now is a really unstable time for us.
My wife’s pregnant and jobless (laid off). I don’t mind it as I expect her to continue to be unemployed because I refuse to believe someone will hire a pregnant lady to do a white collar job. So I have to make things happen for us which I started working on around the time I thought I may be getting the pink slip from Sprint (which I eventually got).
I’ll let you in on more when i know more.
Roger.
4 Responses to “2008 Financial goals accomplished. What’s next?”
By Kitty Bradshaw on Jan 21, 2009 | Reply
Wow your financial goals are wayyy more then what I planned. I plan on opening a high interest bearing account w/ capitol one. I think I am going to put 75% of my tax return in it.
Then continue to put $100 each month… not sure what to do from there. I think this is a good start for me!
By Roger Garrett on Jan 23, 2009 | Reply
I’d invest it in the market instead of doing the high interest savings account if you don’t need it for 2 years or so. Continue to invest the $100/month in the market also.
Look into getting a Roth IRA. It’s just like a savings account but could give much better returns over the long haul.
What ever you do. GOOD LUCK and thanks for taking the time to read the site.
By Kitty Bradshaw on Feb 12, 2009 | Reply
I didn’t know yo responded back to me! Thanks for the tips.. I am going to look into that!
Ummm are you on hiatus with the site?!
By Roger Garrett on Feb 17, 2009 | Reply
Been busy as hell lately. With work, getting the tattoo thing going, four kids and one on the way life’s been a blur lately. Haven’t had time to even surf the web lately let alone post a RDL thought.