NevBlog

Neville's Digital Surrogate Brain

Goals

New Goals

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My next short term goal is to:

Make $11,000 by April 31st, 2005.

This means I must make an average of:

  • $2,750 per month
  • $687 per week
  • $98 per day

This goal is more than double my last 4 month goal, so something about my income must change. I must either work more, make more money from my online business or create a new income stream. I plan to do all three.

Meeting Goals

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One of my goals was to finish Resumite.com by Dec. 15th. It is mostly done, but I need to add content and upload the sample sites. I am a bit dissapointed that I did not do this earlier.

I don’t really expect to do any business with Resumite until I get back to school. This Dec. 15th goal was simply an arbitrary date I had picked. Next time I make a goal, it should be completed by a relevant date.

Am I Where I Want To Be?

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Analyzing myself, am I where I want to be right now? And am I on the track to being where I want to be in five years? NO. I have accomplished a lot more things in my life than the average college student my age, but it is not even close to enough. I have high expectations for myself, and whenever I meet them…I raise them.

I’ve had in my mind a few things to start which I haven’t. I keep blaming school for interfering with my side projects, but that is no excuse.

I need to accomplish these few things within the next few months, definitely before I leave college:

–Videotape traffic patterns, contact traffic engineer researcher on campus and implement my traffic strategy on I-35 with a crew.

–Do research on starting my advertising company idea.

–Start Resumite Personal Sites and make it the largest of its kind on the internet. Fast turnaround, lots of services, upfront/cheap pricing.

–Trademark the name Resumite (even if it gets rejected, at least you now know how).

These few things are accomplishments I would like to have at least tried before I leave college. Even if they all fail they will bring in an untold amount of knowledge and experience. I also want to have the stigma of being a go-getter and someone who GETS THINGS DONE. Laziness and lack of ambition sicken me.

To Accomplish My Goals:

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A million in liquid assets is an extremely lofty goal. Is it even possible? Of course. To make $1,000,000 in five years I will need to:

Save $200,000 per year

Save $16,666 per month

Save $3,846 per week

Save $549 per day

Keep in mind this is saving $X.XX per year and does not include expenses.

I mandatorily put away $400 per month for investing and permanent savings, and after I get paid (from any source) I put away 60% if not more. Since I started working, I have been putting away roughly $685 per month. My current savings per month needs to increase by 2,400% immediately to meet my goal by 27.

My Goals

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Short Term Goals:

  • Ideal Goal: By December 31st, 2005, I should have at least 3 different sources of steady income (not including a job). All sources of income should together average about $7,500 of dependable income per month.
  • Minimum Requirement: By December 31st, 2005 I should have found a way to independently pay all my bills/expenses for myself and have money leftover for investing, savings, rainy day and spending. My liquidable balance should be slightly over $45,000 with an investment portfolio of at least $25,000.

Medium Term Goals:

  • Have at least 4 different sources of income, balanced in different industries to survive good and bad markets.
  • Accumulate somewhere near $1,000,000 in liquidable assets by age 27. This includes cash savings and stock.
  • Get mentioned in at least 5 of these sources by age 27: CNBC, New York Times, Business Week, Wall Street Journal, CNN, The Register, The Financial Times, Yahoo News, Google News, Bloomberg, BBC, Wired, Popular Science, Popular Mechanics.

Long Term Goals

  • Form Enwon into a conglomerate with at least 5 different subsidiary companies under the corporation. Companies will be balanced in different industries to survive good and bad markets. These would most likely include the liquor industry, asset management, 2 inventions in the consumer products area and real estate.
  • Follow plan outlined in my aspirations

First Post

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This blog will be dedicated to tracking my financial progress. Today I turn 22, let’s see how far I can financially advance by the time I am 23.