Before I get too far into things, lets define a thang or two, shall I? As far as what I’ll mean when I talk of things, short term is less than a year, mid term is less than 5 years, and long term is greater than 5 years (we’ll deal with long term in a bit – let me try and get the shorter time frames into some sort of shape before I get too carried away!).
Short-Term Goals
- My primary short term goal is to get our credit card balance down to something more manageable. Ideally, that would be zero. But realistically, $5,000 is a much more achievable, at least as things stand now. That would mean averaging a $1,250 reduction in the total credit card balances month to month.
Secondary short-term goals:
- Set aside at least $2,000 in savings for emergency needs
- $1200 in my ROTH account (just $100 a month)
- Set up Wife’s IRA & at the very least transfer those PERS monies into it
Mid-Term Goals
- Absolutely no credit card debt
- $75,000 in retirement savings (IRA/ROTH/SIMPLE; in other words, untouchables)
- $10,000 in non-retirement savings (CD/Savings Acct./etc.)
- Buy a house, and have 50% payed off (we already have something we’re strongly looking into, so this may switch over to a short-term goal if things go smoothly)
