My 2022 Financial & Personal Goals (as of now)
I know it’s almost the end of February and I’m just now sharing my financial and personal goals. But please, bear with me. 🙂 I work full time, am a full time parent and try to exercise whenever I can to keep my sanity. Here are my financial and personal goals for this year that I would love to try and achieve.
Purchase a Home
Perhaps on the top of my list the year is to purchase a home with my husband for my primary residence. I originally wanted to buy a duplex or somewhere that allowed an accessory dwelling unit for rental income, but for now I don’t want to deal with the headache of being a landlord. Also, I enjoy having privacy and don’t feel like paying a mortgage while sharing a wall with someone, again.
We are currently under contract to purchase a home just north of Austin, Texas for approximately $425,000. It’s a 4 bedroom, 3 bath, 2009 square feet and a two car garage.It wasn’t in our original plan to get a 4 bedroom, but since we both work from home and have our mothers stay with us for months at a time we desperately needed the extra room. Also, having a backyard will enable me to plant my own fruit and veggie garden to save me some money on produce.
Invest $24,000 Dollars
Each month, I invest $2,000 in my Roth 401k with my employer match, my Vanguard brokerage account and my Wealthfront brokerage account. Right now, I have over 95% of my investments in the total stock market and the over 5% in U.S. bonds.
I’d love to invest even more money, but I would rather have more cash on hand in order to be able to purchase a washer, dryer, and refrigerator for house when it’s completed. Also, you never know when you need a couple extra thousand dollars for closing costs. If I have extra cash hanging around at the end of the year, I’ll dump it into my Vanguard brokerage account.
Invest $5,000 Into UGMA Account for My Daughter
A UGMA (Unified Gift to Minors Act) s an account for minors that allows you to invest for your child and have that money transfer to them when they turn 18 years old. It can be used to help pay for college, start a business, or put a down payment on a house.
I originally wanted to invest into a 529 account, but that an only be used for educational costs. This sounds great, unless my daughter gets enough grants and scholarships that she doesn’t use all of most of what I have invested for her. Then, I’d have to transfer it to someone else. I wanted more flexibility so she could use money on education and anything else to start her life that she needed.
Go Running at Least Twice a Week
A new hobby that I picked up at the end of last year is running. I never saw myself as a runner, but I challenged myself to run a 5k and then realized that I needed to train for it. At first I almost wanted to give up, but I had told people about the race that I entered to help keep myself accountable. After about two and a half weeks I was able to comfortably run 3.1 miles. I ran my best time at the race and was proud myself.
Now, I run every weekend and it’s a great way for me to get some fresh air, enjoy nature, exercise, and have some time alone. My daughter is at home with us all of the time and it’s important for my husband and I to both have some time alone to recharge. Running is one activity that helps me recharge and I’ve enjoyed it more and more each month.
Practice Gratitude
Although my life isn’t perfect, I am very grateful and appreciate for what I have. From starting off as someone barely able to afford living on my own right out of college, I’ve come a very long way. Right now, I’m living comfortably with my husband and daughter and don’t have the same stresses as I’ve had before. I’m very thankful for that. I’d love to make it a daily practice to take a few minutes and remember what I am grateful for.
In conclusion…
What are your goals for 2022? I’d love for you to share it in the comments. Thank for reading!
