First off, I wanted everyone to know that is was 70 degrees here yesterday! This changing weather is really killing me. I think the low was around 25, so it’s such a huge difference.
Anyways, arlier this month I posted my 2012 goals, and then I noticed that Niki over at Debt Free by Thirty posted her 5-year plan. I guess this will just be a month full of me stating goals and hopefully accomplishing some. I hope no one is too bored.
Making a 5-year plan is very helpful. However, it’s hard to tell what my life will be like 5 years from now because I still feel so young and 5 years just feels forever away. I always think about how my life will be though. Not everything in my list is financial related, it’s also about things I would like and things that I need to do.
I’m hoping 5 years from now, I still have my same great friends, my wonderful BF, and my wonderful dogs.
Here’s what I/we hope to accomplish:
Get my MBA
Decrease my student loans to $15,000 (which would mean that I would hopefully have them done by early next year)
Increase my net worth to $85,000.
Fully fund $15,000 Emergency Fund
Finish decorating the house
Finally pick up the pool table. Our friend is selling his pool table for $200 (it’s really nice, he just needs it out of his house and he’s our friend so he gave us and his other friend a deal) but we just really aren’t looking forward to moving it. It weighs a ton. Hopefully we’ll get on that this year.
All of my goals can be found in this post for 2012
Pay off student loans completely (I would hope to have this done by the beginning of the year by using a lot of my bonus and any tax return money)
Start aggressively paying off mortgage. Maybe $2,000 extra a month? This would just be me applying the same amount that I was paying for student loans.
Add a bathroom to the basement
Add a bar area to the basement
2014 – 2015
Since my school loans will be paid off, I want to start saving more also
Do more upgrades to the house
Have our house at least 50% to 75% paid off. If we paid off at least $2,000 extra a month, this is very possible, or at least close. Of course if we decide in the next couple of years to move, then we most likely won’t be paying off such a large amount every month.
Start planning and deciding if I want to get my Executive MBA. Yes I know, more school, kill me.
Somewhere in these 5 years, I would also like to:
Go on a month long vacation
Go on a long hiking trip
Be successful in my career
Do lots of networking in my field
Go to Thailand because I hear the beaches are amazing
Get married. Right now we are just saving for one (ok not really), but we’re not in a rush. We already have pups and a house, and are pretty happy with life.
Do you have a 5 year plan? Where do you think you’ll be in life?