My financial goals: four months later

Right! Have I mentioned before that goal setting and following is not really my strongest points? If I have failed to mention this one, now is confession time. Throughout my life I have mostly wanted and achieved; most of the time what I want and what I achieve are very different things. This is what not having clear goals leads to: how likely is it that one will get where they wish to be if they don’t know where they are going?

This is why, and as a part of a general drive for change and wealth, in May I published our financial goals. Did I publish them and promptly moved to the next thing, to the next idea? You bet I did. But today I am getting back to these goals and am going to report to you, my readers. A bit of accountability only focuses the mind; apart from me secretly hoping to generate some crafty and savvy ideas about how to achieve these goals.

I set myself to achieve the following within eighteen months:

  1. Generate £1,644 per month passive income. I still don’t have much passive income. It is true that I am on sabbatical for twelve months and it can be seen as a situation where all my income is passive. I would rather not: this was to be above and ahead of our current monthly income after tax. Work in progress.
  2. Transform non-income generating real estate into income generating assets. There has been some movement here: two real estate properties have been put on the market and we expect will be sold soon (one is as good as sold, really). This is not very much but some liquid wealth will be generated – have no idea what to do next. Apart from that I will discuss with an estate agent in Sofia (when I can walk and have a bit of independence) the possibility of renting out our apartment on very short term basis (two-three days at a time).
  3. Reduce our liabilities by £100,000. This is the scary one; or was. I put the number down and it sounded rather good. I never calculated that to achieve this will mean to reduce our liabilities by £5,556 per month; this is a lot! By some miracle, however, between May and today we have reduced our liabilities by £23,594 (a combination between John’s work, a small part of a useless pension fund and pay out by a naughty bank). This works out at £5,898 per month and spookily this puts us ahead of schedule. There is the small matter of continuing on this road but I believe that something will turn up

So far so good, long may it continue!

3 thoughts on “My financial goals: four months later”

  1. Good to hear you talking about those goals, and equally good to hear how you are progressing them. I can hardly believe you have reduced your negative wealth by that amount in such a short time, but congratulations, you are a formidable team!! As you may know already I am a great believer in ‘something will turn up’, and isn’t it exciting to ponder what that may be? World domination? Anything is possible!

  2. Helen, I can hardly believe it myself. But it does feel really good. Feelings and sense are different again, it seems to me – the third goal on which we have done so well is probably the one that is important in the short run. But the first two are so much more important in the long run; particularly the first one. I am starting to dream investments.

    Need to talk to you privately about World Domination and cocrete possibilities – when we get back.

  3. I seem to spend a lot of time thinking about the best way forward, I know I don’t want to continue with the way things are, so I am doing a test run on making a certain amount of money in a very short period, so that is keeping me very busy. I see opportunity everywhere! That must be a good thing, right?
    Stay well, and enjoy some time off with your boys, it’ll soon be time for them to get back to school/work.

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