Here is my 2016 goals that I would like to achieve.
Max out 401k:
$18,000, this goal is completed at the end of March 2016, so I’m happy I can max this out.
Max out IRA:
$5,500, this goal is completed. I would like to put it in Roth but I anticipate my income would be to high. I thought about a possible back door but I’m not sure about that and will think about it.
$30,000, Currently save up ($30,000+), This goal is completed. My saving account will hold at least $20,000 for my emergency fund and $10,000 will be for my regular checking account expense.
Open a Fund Rise account and invest $10,000 – This is a real estate crowd funding website similar to lending club concept. Instead you invest money in real estate building that have been analyze. This is new to me so I’m still researching about fund rise. I plan on investing about $10,000. I have not open an account yet but will later on. (Completed)
Invest $10,000+ in dividend stock – (Currently invested
$20,630), I will continue to build up my dividend portfolio. (COMPLETED)
Earn $6,000+ in annual dividend – (Currently received
Pay down my Car loan:
(Currently at $21,265) I would like to pay this off at least up to $1,000 – $5,000 left on the loan. I have heard keeping your car loan will look good on your credit history. So I might just keep this loan around for that purpose. Someone correct me if I’m wrong, would like to hear other people thoughts on this. (I decided to pay this off) (COMPLETED)
Increase net worth to
$650,000 – Currently at $555,556. Completed +$726,545, EOY
Blog – Continue to work on my blog and provide monthly updates.
I will continue to update my goals as I progress.