2016 Goals and Resolutions

Adam My Life, Personal Improvement 6 Comments

We recently reviewed our 2015 goals and where we succeeded and where we didn’t. I think it went pretty well. This post should have been a couple of weeks ago, but I want to lay out my 2016 goals.

I think it’s important to hold myself accountable and let the community do so as well. If you aren’t creating a clear destination and a road map to get there, you’ll just spend another year stagnating.

Financial Goals

Max out my 401k / IRA

I almost hesitate to list this as a goal since it’s become so easy. I let my IRA and 401k roll on autopilot and I never even notice the cash didn’t hit the account. Nothing is easier.

Rebuild my Cash Balance 

I’m a believer that you should always care a year’s worth of expenses if at all possible in cash. 2015 didn’t allow for that. It’s all the more important when you look at what’s happening in Houston with the commodity bust. Over 50,000 jobs just in Texas and 300,000 globally. Sometimes things happen beyond your control.

I’ve put a lot of funding in to the amazon business this year to spur growth, so my cash balances are sitting at a level I don’t feel comfortable with. 2016 any spare cash that comes by will either be hitting the amazon biz or going to the savings account.

Purchase My First Rental Property

This one is a tentative since the Amazon business is a priority. If enough excess cash flow in and the Houston market keeps cooling, this will probably be where it goes. 

Grow the Blog 100% Year over Year

Everybody needs a Side Hustle. I’ve got 2. I’d like to see blog traffic double and I have a goal to monetize at least $500 per month. I’m working hard on all those facets now.

Expand my Amazon Business

I’ve been writing a lot about the amazon business. You can find more here. Specifically my goals are:

  1. Expand the current versions of product 1 from 4 to 8 products.
  1. Add 2 new product lines outside of Product 1.

The Amazon business hasn’t been the 6-7 figure success yet that some of the superstars of FBA but it’s building steadily every single month. I think it’s going to be a long-term success and we’re working hard to build a real brand. None of what we’re working on should be short-term hits. Are you working a Side Hustle?

Personal Goals

Get Back to Sub-12% Body Fat

There was a time long long ago in a land far away that I abs. I’ve always been really active, hitting the gym and playing sports. But 2015 I got a lot more serious and regimented about my workout plan and diet. I added a lot of muscle mass and look better, but I didn’t reach my full goal.

For 2016 I’ve got a diet I’m trying to keep dialed and a lifting program I’m sticking with. We will see how the progress goes before Costa Rica in March!

Meditate for 30 Days

I’m cheating a bit because I got started a bit early. I’m using the Calm Iphone app and just finished their “7 Days of Calm” introduction to meditation. Each day is a 10 minute period. I’m about to start the next level “21 Days of Calm”.

My goal is to finish the 21 day program and reevaluate if and how much it helped and what to do for the next 3 months. I’d like to make this a long-term and permanent part of my daily process.

Do a Caffeine Free Month

My coffee habit has gone up and up and up. On a typical day, I’m rocking 2 cups (about 8 oz.) in the morning and 2 in the afternoon. I also drink massive amounts of iced tea (which is caffeinated). At this point it’s not doing me much good.

I’ve been doing some reading that it only takes a month of no caffeine to fully reset your receptors and get back to square one. I’ve spent the first month of 2016 lowering my caffeine slowly each week (4 to 3 to 2 to 1) in order to stop for February. So I’ve got 1 more week to enjoy a cup of the other black gold before I give it a break.

Implement a Morning Routine

I’m a horrendous morning person. I tend to work on my side hustles late and then sleep until the last possible instance to get up, stick my head under the faucet, get ready for work, and get out the door.

I’m planning to read “The Miracle Morning” and want to start being more regimented in my process, though I’m not sure what that will look like yet.

Travel – 2 or 3 Major Trips

I’ve already 2 booked for 2016 (1 up the coast of Cali and 1 to Costa Rica – all paid for with points), so this one shouldn’t be too hard.

We’re looking to add a few long weekends and explore some more of Texas as well.

Get to know my neighbors

This was a 2015 goal that we were at best, partially successful in. This year I’d like to really go out and meet my neighbors, particularly in our immediate vicinity.

Read 30 books this year

Last year I had a goal of 52. I’m not positive, but I know I was really close to that number. This year I’m trying to put a bit more quality over quantity. Be sure to check out all the Book Reviews here.

Conclusion

More big plans in the works this year for us. What are your goals for 2016? Any big resolutions?

Go out there take action and create the life you want to have.

Comments 6

  1. Fervent Finance

    Great goals. I think it’s a good idea to carry more cash if you work in a cyclical (or commodity based) industry. I think Goldman was calling for $200 oil when it was $120. Basically when things are going good, people forget that they won’t necessarily always be that way. I have a friend who works in O&G and when oil was at its highest and subsequently O&G pay was, people were still finding a way to live paycheck to paycheck. Then some downsizing and pay cuts came and those people are hurting.

    I don’t know if I could do a caffeine free month. I drink one cup of coffee in the morning and one at 2pm, which I don’t think is too bad so I’ve never really considered cutting it down. Take care.

    1. Post
      Author
      Adam

      It’s amazing how quick you can spend in the good times. I know engineers in their early 20’s making over $200k per year easy and are probably broke after their layoffs instead of enjoying a year off traveling while they wait for oil to rebound. While I’m not at early retirement yet, I could pretty easily handle a layoff for a real long time based on our cost structure, savings , and ability to make some income on the side.

  2. DivHut

    Always nice to set out some specific goal at the beginning of the year and follow your progress in small measurable steps. Curious to see how you can better monetize the blog. I too would like DivHut to start earning more than it currently is. Good luck with getting a rental property. If the first two weeks in the market are any indication, you’ll have better real estate values coming your way as well. Thanks for sharing.

    1. Post
      Author
      Adam

      Hopefully I’ve still got a job when they do! The amazon business is really the key to where the capital goes.

      I’ll let you know how the monetization goes.

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