March goals and budget review
My goals for March were:
- Setup one account with ING.
- Make at least $10 in passive income.
- Evaluate portfolio options for 403(b). Unfortunately this is very limited to a handful of funds.
- Price laptops and see how long it will take to save enough.
- Fix goal widget
Quite an eye opener when I realize I accomplished only of these goals.
- I made $12.34 in passive income thanks to quite a few various dividends and interest payments.
- I do have the form ready to start my ING account but I neglected to open it since I was busy pouring money into the stock market.
- I did evaluate and setup my 403(b) contributions, but they were changed so I’ll need to redo my asset allocation.
- I’m starry eyed over the new mac air but I cannot really justify it.
- I’ve been writing the PHP code by hand and have it in widget form. I now need to set it up to allow multiple goals and be editable from the WordPress dashboard. This was delayed by 2.5 coming out and the subsequent upgrade.
I’m rather pleased with March as I was able to increase my wealth to $4,268.48. This unfortunately is a hybrid of March and February so I won’t be able to keep up this raw increase per month. Considering I started at $0 in January, thats a monthly increase of $2,134.24, nearly my pre-tax wages!
If could do that every month, I’d have $1 million in just over 39 years assuming no return on my money! According to the rule of 70, I could just get half a million in 20 years, and then wait 14 years for a safe 5% interest rate to double it for me. Then I’d only have to wait 20+14 = 34 years. As long as I stick to the plan, I am guaranteed to have a million dollars in my lifetime.