Where are my annual goals? Right now our lives are in a state of limbo, with several pieces that need to fall into place. First and foremost, we are both working towards getting jobs in a new city. After that, we’ll have a better idea of what our income will be (probably significantly higher). It is quite probable that one of us will take longer to find a position than the other. We have a lot of temporary living options with family, or we could rent again, or we could buy our first house.
Given all those variables, here’s the best I could come up with:
- Find a job!
- Start Tracking Expenses
- File income taxes
- Set up estimated taxes for rest of year
- Put at least $500/month away in 401k
- Reach $50,000 in cash for a house down payment (currently at ~$37k)
- Sell most of our nonessential property, aka crap
- Move; Find a real estate agent
- Maybe buy a house if the stars align correctly
- Most likely buy a “reasonable” house during this period
- Long shot goal: Buy a rental property in the Portland area
We are putting off the 2007 Roth IRA contributions until we know better what our income situation will be. It’s amazing that 2006 felt like it passed right by without much action, but 2007 looks like it will be much more hectic.
By Jonathan Ping | Goals | 1/28/07, 8:44pm