Another year, another set of goals! Hopefully this year is more successful than the last!
Also an update to the inflation adjusted FI target – inflation was high again last year at 5.6%, bringing the FI target up to a whopping $3.01million from $2.85 million!
Non-financial Goals
- Reduce takeout to a maximum of once a week! Seriously!
- Reduce weight by 10kg by end of year
- Daily reading habit – aim for 25 books over the year
- Read from the books I already own rather than buying more!
- Go on at least one holiday trip (already done, haha!)
- Buy a new car!
Financial Goals
- Net worth goal $830,000 – stretching a bit on the goal this year to try and account for the high inflation over the past few years.
- $27,500 to superannuation (I’m dropping the catch-up contribution from the target!)
- $20,000 into share market
- Limit annual takeout budget to $2000
- Aim for discretionary spending to be under 5% of annual expenses
- Aim for 20% after-tax savings rate
- Figure out how to do my own final tax returns without an accountant
Chasing FIRE Down Under 