Financial Net Worth Goal for 2007

Every year it seems like it’s harder and harder to forecast the major changes coming in my life and set challenging financial goals. In 2006, I was faced with the uncertainty of taking a temporary assignment and not knowing how much it would cost me, buying a new home, and I knew I would be proposing so I had a big purchase to make.

2007 will take uncertainty to new levels for me. I'm getting married in October - trying merge finances, pay for a wedding (at least part of it), combine homes, and meet my fiancee's financial commitments while accomplishing my (soon to be "our") goals will be tough. On top of that - I'm planning a year-long assignment in China which could hurt the financial goals if things aren't well orchestrated.

I've been putting off my financial goal planning for the year in hopes that I would soon see how things might play out for the year. However, 1/6 of the year is over and things are still very murky so I feel I need to get something done on paper now.

To be honest I am not even sure how to set meaningful and achievable financial goals this year. My fiancee and I are still so far apart on our financial planning that I don't think "we" can come up with goals together this year. I will continue to brooch the subject with her as opportunities emerge, but we have a lot of planning to do for life events so those opportunities will be limited.

So rather than make excuses or come up with detailed plans I'm just going to set a net worth goal of $430,000 (~$113,000 gain over 2006). Very scientific huh?

Here all all my financial goals 2007:

  • Grow net worth to $430,000
  • Combine households with fiancee
  • Turn one of our properties into a 2nd rental property
  • Agree upon system for merging our family finances
  • Finish reading Smart Couples Finish Rich with my fiancee

Related in Financial Goals:

Financial Freedom Plan - 2015 Update (Apr 30, 2015) I finally sat down to get an updated view of our progress towards our financial freedom plan that I laid out a few years go in terms of asset allocation. Some notes: Our asset allocation to fixed income (interest) will...

Financial Freedom Plan (Aug 25, 2013) Almost two years ago I laid out a plan for the net asset allocation I thought we needed for our financial freedom plan. It was a rough guide for asset allocation that I believe could generate enough income to cover...

2012 Passive Income: Dividends (Jan 27, 2013) Here is a summary of our 2012 dividend income. All this income comes from our taxable stock portfolio that is included in our monthly investment review. All retirement investment holdings are excluded from this dividend income summary. This passive income...

Comments (1)

I think that your biggest challenge will be keeping the wedding expenses under control. I thought my wife and I did a decent job and we still spent >$20,000

$2000 here, $750 there will add up quick. Depending on your fiancee, wedding planning tends to be more about emotions rather than reason. We don't regret spending the money one bit. I think the fact we paid for it from savings and don't have a monthly payment to worry about helps a lot too.

just some thoughts,
good luck this year

Post a comment

(Comment moderation enabled.)


A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,938,393


New Personal Finance Articles

PF Blogs