2011 Goals Final Report

Well it’s been a good year so far and now that I’m on vacation I’m actually starting to get caught up on my backlog of things to do around the blog.  One of those items was a final report on my 2011 goals.

For  your memory the goals were fairly damn straightforward:

Goal #2 was the publish my book, Free at 45.  This was completed back in March of this year. Sales were relatively modest, but I didn’t go broke doing it, which was the main idea.

Goal #1 was to pay off $39,000 of  my mortgage.  While it isn’t the official year end yet, I can project that the final mortgage balance will be about $43,000.  That means I would have paid off $40,500 over the year.  Yep, I exceeded my goal by $1500!

This now sets me up nicely to go after my 2012 goal of paying off the mortgage completely.  So that will be a bit of stretch for us given what we paid off in 2011, but as the balance keeps dropping so does the interest portion of our payments which should assist us in bridging that gap.

So how have you done on your goals for 2011? Pass, fail, or did you have to switch them along the way?

5 thoughts on “2011 Goals Final Report”

  1. The past few years have been a bit of a roller coaster ride for me (child’s illness, divorce, starting “new” life), and going into 2011 my goal was to become stable again.
    I purchased my condo, allowed my relationship to become serious, and feel like I’m finally going in the right direction financially.
    I’d say 2011 has been my best year in a long time, and I can now set reasonable and specific goals for 2012.

    I would like to thank this and other FIRE blogs and their commentators for the inspiration and education they have given me.

  2. I recall the snowball effect when I paid down large portions of my mortgage in 1997. The split between principal and interest in subsequent payments greatly skewed towards principal in those payments so when it came time to pay off the last small blob in 1998 there was not a lot left to pay. I am sure you can (or have) run the numbers to see how this will work in your favor in 2012.

  3. We didn’t have a specific goal heading into 2011 other than living “extremely” below our means – must have done well because our net worth went up over 100k. Mostly cash savings, with a sprinkling of property appreciation, DB pension growth, and some mortgage amount reduction. Investment portfolio is pretty much break even.

    My wife and I bring home north of 100k combined – we spend just a shade over 30k per year. This is how we do it. We drive 10 year old vehicles, and we don’t have granite countertops etc… ER is the end game for us.

  4. It’s hard for me to name specific goals because they always seem so blase’ … but here goes:

    HSA (not including company contribution of $500)
    $2,600 in 2012 GOAL

    Roth IRA
    $5,000 in 2011 DONE
    $5,000 in 2012 GOAL

    Roth 401k (not including company match)
    ~$9,500 in 2011 DONE
    $17,000 in 2012 GOAL

    Mortgage Payoff on Primary Residence
    ~$6,000 in 2012 GOAL

    Since I only gross about $50k annually in the USA (South Florida) as a SINK, some of this is rather speculative.

    I will definitely max out my brand new HSA because I already signed up for the payroll deductions. I will definitely max out my Roth IRA because I do that every year without exception.

    The mortgage payoff and Roth 401k contributions are competing for my attention … I would like to complete the mortgage payoff by the first half of next year but doing so would mean sacrificing the Roth 401k numbers … yet all of it leaves me very little wiggle room for discretionary spending anyway which is more than a little uncomfortable (or, more accurately, stressful).

  5. I had a number of goals. The first was to pay off $30,000 from the mortgage. We have paid off a bit more than that. Two more years and we will be mortgage free. Secondly I wanted to lose 10kg and improve my health. I’ve lost 9.9kg so will have to be careful over Christmas to get to and keep to the magic number for the end of the year and health is better. Thirdly I wanted to clear out a lot of clutter and have managed to achieve that as well. So all around a productive year.

    We have a net income around 60K and save about half. Our big expenses apart from the mortgage are health insurance, the car and health expenses and an annual holiday. We are aiming to cut our costs down to $20,000 a year and I’m cogitating on how this can be done.

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