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Evaluating My Progress Against 2010 Goals

This article was written by in Planning. 12 comments.


There isn’t a lot of time left in 2010. As I get older, time seems to move faster. Perhaps now that I am not spending eight or more hours dedicated to a day job, I will be able to slow down the passage of time. With more time, 2011 may be better for me in terms of meeting the goals and targets I set for myself. I only have a few weeks left to meet my 2010 goals.

Rather than wait to see what I might be able to cram in during the last week of the year, I’ve decided to evaluate my progress as of today.

Income

At the beginning of 2010, I wasn’t convinced that my income from outside my day job would pick up. I have put in a lot of work, and some faith in some partners to help in the areas I didn’t have time for, and it has paid off. The goal I set called for maintaining a six-figure income outside my day job. Even without the relatively new development of having left the corporation where I’ve worked for the past nine years, I was able to build income well into six figures.

Investing

In terms of investing for the future, I’ve put a lot of money away. I was scheduled to maximize my 401(k) contribution this year, but leaving the job early meant I fell slightly short. I’ve made up for that by investing in my 2009 IRAs. In the past few months I’ve begun investing in my 2010 SEP IRA as well.

Net worth

I haven’t set a net worth goal since the beginning of 2008. The confidence I had at that time was shattered by the end of the year thanks mostly to the stock market and the economy. I didn’t meet my net worth goal in 2008, and I didn’t set one for 2009 or 2010. I ended 2008 with about $180,000 in net worth as I currently measure it. On December 31, 2009, my net worth was around $300,000, and I’ll be ending this year around $525,000. With or without predefined goals, my net worth growth has been successful this year.

I’ll write more about my income and expenses when I wrap up the year with my final net worth report of 2010.

Other goals

Beyond finances, I set a few additional goals for the year. I wanted to get in shape this year. I didn’t establish any new healthy habits this year, but I did eat healthier in general. In the past few months, I’ve greatly decreased my intake of red meat, and I’ve managed to lose some weight. Earlier in the year, I was on the team that won a six-week health challenge at work through eating healthier and changing some habits. I didn’t, however, exercise much more than I had been the past few years. With more flexibility moving forward, that will change.

The most important goal I set was to spend time on the activities that I enjoy. Through leaving my day job, I can focus on the work I do enjoy, such as writing articles and managing this website. I spent more time with photography in 2010, taking more classes and having the opportunity to practice the craft.

Overall, this has been a successful year. Even if I didn’t make every goal I set for myself, I was able to build strongly on everything that is important to me. In a few days I’ll start thinking about my goals for 2011.

Did you meet your goals this year?

Published or updated December 20, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 12 comments… read them below or add one }

avatar eric ♦1,549 (Half-Dollar)

Good job on the progress Flexo. Getting healthier physically and financially in these times is definitely commendable.

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avatar christine

Flexo, did you find it hard to focus on your online business(es) now that you took the leap? Now that you are your own boss, needing to apply self discipline, etc… I know, I’d probably be lazy for a good week or two after taking the leap. Would just need to make sure to not leave it that way! Oh ya, and to make sure I change out of my PJs. ;)
I think it was great you took the leap. I hope to do the same next year. That’s my future goal. As for this year…I made some great strides this year. Still need to timely reflect on them. Happy Holidays!

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avatar Luke Landes ♦127,490 (Platinum)

I’m still working on finding a routine that works best for me, but I’m off to a pretty good start. I’m naturally distracted, so I’m surprised that I have been able to stay focused as much as I have. I haven’t kicked it into high gear yet — there’s too much going on right now for the holidays, and a lot of the outside people I’m dealing with just aren’t around right now.

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avatar Evan

Do the people in your life support your decision or think you are nuts?

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avatar Luke Landes ♦127,490 (Platinum)

From what I’ve seen so far, my family is very supportive of the change. My friends range from ambivalent to supportive, at least to my face. Some are perhaps a bit jealous, but it’s not like every day will be a vacation…

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avatar brianahasmoney ♦367 (Nickel)

Congrats on accomplishing your goals! I accomplished my goal of finding a full time job and getting my first apartment, which are super exciting. I have a few more goals, more specific, measurable, for 2011. These I’m beyond motivated and excited for.

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avatar RC09

How did you increase your net worth from $300K to $525K in 12-months? What is the percentage of income you saved? What is the percentage returned from the stock market? Wow.

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avatar Luke Landes ♦127,490 (Platinum)

I’ll be looking at all those numbers right after the end of the month. In short, it comes mostly from income.

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avatar Financial Samurai

Good stuff Flexo! Didn’t realize you went from $300 to $525K in 12 months!

Simple maths means that your income was at least $350,000 gross because $350,000 gross is around $225,000 after taxes, and you had to obviously live off something as well.

So all this makes me wonder, if you are making this much money from your online ventures, why even bother working at a day job that only brings you 1/3rd of that? You should have quit a long time ago!

Cheers, Sam

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avatar Sandy @ yesiamcheap

I have myself a C on meeting my goals. The largest shortfall came from me using my emergency fund when I purchased some investment property. It was impacted every other goal that I had. But I do own the property fee and clean, and if need be, I guess I could borrow against the property right? I don’t intend to. But 2011 holds even brighter promises for me. You did very well on your finances.

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avatar Kay Lynn @ Bucksome Boomer

Flexo, I’m looking forward to reading your goals for 2011. Your destiny is in your hands now that you can focus on the online business full time.

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avatar Luke Landes ♦127,490 (Platinum)

Thanks, Kay Lynn! I’ve set my goals and resolutions for 2011 earlier today, so take a look.

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