My Business, Financial and Personal Goals For 2007

As everyone has started writing about their goals for the year, I’ll follow suit. Here’s what we’re shooting for this coming year:

 

Business

We have one main business preoccupying our household right now, and my spouse is at the helm of that. The goal is to get the software in alpha by Spring of 2007. By then, we’ll be recruiting some beta testers so if you’re interested in pitching in to help an embryonic startup, let me know!

As I’ve mentioned before on several occasions, I’m still working on some business ideas of my own but with my limited time, I’m taking a more casual approach to these efforts; I’ve decided to stop sweating it out to keep my sanity. I’m hoping to open a few more CafePress stores, and improve the web sites I’m running.

Finance

The main thing is to improve our cash flow by the end of 2007. Instead of bleeding red on one income, I’m hoping that some funding comes through from my spouse’s business to neutralize our outflow. Otherwise, there’ll be some consulting in the works to tide us over, but we’re giving ourselves a whole year to see how things go before we worry about that. Our savings earmarked for living day to day to supplement our one income is slated to last us a year.

I’d like to do some research and look into some other investments as a hedging strategy against what we currently hold. More discussion on this later.

I’m working on a better budget as well, training ourselves to live on less given the higher risks afforded by our new ventures. We’re aiming to bring the budget down by 20% from what it normally is. We’re doing this by occupying ourselves with things that take us away from window shopping (both online and offline). It also helps to review the other finance blogs as well, which gives us great leads on saving, cutting costs, coupons and where to go for better prices!

I’m planning to consolidate all my retirement accounts into one Rollover IRA. I had been thinking of doing this for ages, but it’s just been one of those things I’ve put off. I’ve had around 8 jobs which yielded a bunch of scattered, minimally funded 401Ks that I’ve almost forgotten about. This state of disarray does not sit well with me, so I need to clean house!

I need to desperately update our estate plan. That involves updating our wills, fixing our lists of beneficiaries for accounts and creating a trust for our house (yes, we’d like a trust to own our house for estate planning purposes!).

While am it, I’d like to review our insurance requirements — we’re seriously considering doubling our life insurance because my spouse lost his survivors (death?) benefits from his previous employer. Gee, doesn’t that sound a bit morbid? But it needs to be done.

 

Job

I’m aiming to be a more productive worker this year. I already know that some very large software releases and production cycles are in my horizon, and I’m hoping to make it out alive from these projects.

 

Personal

I can afford to lose 15 unwanted lbs. Even 10 would be spectacular. It doesn’t help that I already gained 5 lbs. so far this winter season from all the delectable feasts we’ve been partaking in. I’m going to try upping my exercise schedule.

 

In Parting

Yes, there doesn’t seem to be anything too out of the ordinary about my goals, except possibly for the startup. Speaking of which, by the summer of 2007, I’m sure something will have panned out one way or another. All in all, I’m just hoping we get through the year whole!

Some other goal setting posts in the blogosphere:
What Are Your Goals For 2007?
How To Set 2007 Savings Goals
Regular And Stretch Goals For 2007
Planning And Goal setting Week: Flexo’s 2007 Goals

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