Wednesday, December 30, 2009

Goals 2010

Been a while since I posted. Markets have recovered nicely since my last posts over a year ago.

My #1 goal is to focus on passive income/ monthly cash flow. I will become a become money making machine. If I can build my monthly passive cash flow year after year, It will allow me to reach my ultimate goal- Get out of the rat race.

1) $300 month in passive income ($3600 annual).

This will reverse a trend since I have been tracking passive income.
2007: $1654.22
2008: $1324.82
2009: est $1121.31

Not pretty.

$3600 represents a 320% gain over last year. This is quite an increase.

I have already started putting the pieces in place:
1) moving my money to high interest checking account with Royal Banks of MO. Pays 4.3% up to $25,000.

2) Opening up GE Interest Plus account. Pays 1.9%

3) Opened Lending Club account for peer to peer lending. Also collected $25 bonus for opening up account.

4) Will be looking at opening a few more positions in dividend yielding stocks. I have a few on my watch list.

Other goals for the year:
-$xxxK Income
-read 26 books
-become knowledgeable about real estate investment. This falls into my 3 year goal of owning investment cash generating real estate.
-do not procrastinate

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