It has been a while now since I last tried to formulate my goals and having done some thinking I feel all the more certain that I can restate my goals here.
Short Term Goals:
- Monthly save 50% Of my current income and loans in low cost index funds and dividend stock.
- Beat the interest plus income tax with the returns on dividend stocks yearly.
- Pay of the forced mortgage and interest using dividend from stocks.
- Keep a 3-6 month buffer incase of housing crisis or a forced move due to critical changes in way of life.
- Minimize extravagant spending. ( See Post : Budget *hyperlink will follow as it is a work in progress)
- Rebalanced portfolio before the end of November.
Long Term Goals:
- Evaluate housing conditions; at the moment. high rents and low interest on loans.
- Diversify passive income sources to include but not limited to any of the following: affiliation on blogs, websites or other multimedia sources, influensors sponsorship, book or other royalties possibilities, renting e.g. rooms in bigger apartments to friends or smaller apartments in whole to strangers to offset mortgages and interest on loans.
- Start my own business in tech industry as a part-time expert consultant.
- Start my own business in tech industry as innovative problems solutions with a lease possibility for easily scalable production: More idea generation needed. [WORK IN PROGRESS]
These are various ideas currently being worked upon : tactical and strategic plans shall follow along side a budget.