Contents from freedom 35 blog. (www.freedomthirtyfiveblog.com)
The act of writing down goals, and tracking them over time greatly improves the chances of achieving the outcomes you want.
So this year I have 5 new goals I want to accomplish for 2023.
2022 goals
- Increase household net worth by $150,000
Since I am no longer earning money from a 9 to 5 job I expect my income to be fairly low this year. Our household retirement strategy is to withdraw about $60,000 from investments. However because I expect the financial markets to perform well this year the capital appreciation should be more than the rate of drawdown.
- Reduce margin leverage to 1.5 times
Right now I am borrowing about $300,000 from my IBKR margin account. This is roughly 1.9 x leverage. Since interest rates have gone up over the last 12 months the cost to carry this debt has become quite burdensome. I currently pay about $1,500 a month of interest expense to Interactive Brokers. I expect their next earnings report to be pretty good, lol. I would be nice to lower my interest payments to below $1,000 by the end of this year.
- Read at least 4 books
I like learning about new things so I want to prioritize some time to reading this year. I’m currently reading The Book of Awesome by Neil Pasricha.
- Work out at least 3 times a week
I need to work on getting my body back in shape. I became lazy after becoming a dad. The baby is currently learning to crawl. But by next year he’ll probably be able to run around. I want to maintain a healthy and active lifestyle so I can keep up with the kid as he’s growing up.
- Earn $50,000 in net premiums from trading options
$50,000 represents about 15% of my IB portfolio which I think is a reasonable return to aim for. The good thing about earning options income is that it’s scalable based on the size of one’s portfolio and is not dependant on market direction. I sell mostly credit spreads which means I make the most money in a flat market. 🙂
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Random Useless Fact:
If the restaurant you’re in has these items, chances are their hamburgers cost $25 + tax and tips.
Contents from freedom 35 blog. (www.freedomthirtyfiveblog.com)
