In case you missed it, I wrote about my 2007 goals and how I did tackling them.
Without a job that pays me an hourly wage my goals for 2008 are quite complex. It would be unfair of me to set net worth goals as if I were still making a 6 figure salary. On the other hand, it’s very possible I will go back to work this next year. If that happens, loftier net worth goals should be back in play. For this reason, I’m going to have to make two sets of goals for 2008 one for Independent Lazy Man (income coming from only my own business and freelancing ability) and one for Corporate Sell-out Lazy Man (I decide to work for XYZ Corporation for a set salary).
Goals for Independent Lazy Man
- Net Worth – $250,000. This may seem a little low since it’s only $30,000 more than my current $220,000 – especially when you consider that a 10% gain in a lot of my investments would push me to $240,000. However, without a steady income, I could be looking at a year of treading water. Stretch goal: $275,000.
- Alternative Income – End the year making $5000/mo. Assuming that I don’t have to commit 8+ hours a day to a full-time job, I need to grow this. No job and no growth in this area would be a pretty large failure. Stretch goal: $6000/mo.
- Software Development Skills – Put in 500 hours becoming proficient in a rapid development computer platform like Ruby on Rails on CakePHP. A substitute for the 500 hours would be for me to launch at least one website (in these technologies) that I would feel proud of putting on my resume. Stretch goal: none, this is aggressive enough considering that I’m thinking of ditching of my software development career.
- Business Skills – Start a personal MBA program. I’m an extremely slow reader and would consider it difficult to read two books from each category. However, that will be my goal. Stretch Goal: Read half of the books.
Health – I weight around 175 lbs. and my body fat measuring devices say I have around 20% body fat. I’m not concerned much about the weight, but I’d like to get to 17% body fat. Stretch goal: 15% body fat.
- Lazy Man and Money – I’d like to finish the year with 55,000 monthly visitors and 4,000 subscribers
- Lazy Man and Health – I’d like to finish the year with 20,000 monthly visitors and 1,000 subscribers.
Goals for Corporate Sell-out Lazy Man
- Net Worth – $290,000. Stretch goal: $315,000.
- Alternative Income – End the year making $3750/mo. Stretch goal: $4500/mo.
Career – As Corporate Sell-out Lazy Man, I’d be happy contributing to that company in every way that I can. As such, I probably wouldn’t make much progress on a personal MBA while I work on other side businesses.
Health – I’d like to get to 18.5% body fat. Stretch goal: 17% body fat.
Websites – Same as Independent Lazy Man (see above).
Tim Rosanelli says
Hi Lazy Man,
I had a goal to read 12 books in a year. My first book was a book on speed reading. I boosted my reading speed from 200wpm to 600wpm. I ended the year reading 46 books.
Writer's Coin says
I’m curious about what steps you can take at this stage of the game in terms of increasing traffic to this website. That is left to be done that you haven’t already?
Lazy Man says
WC, here are some ideas off the top of my head…
1. Write good quality content that people want to read. This is always #1. I think there’s always room for improvement in this area.
2. Look into other opportunities like my writing for Prosper.com. I’ve had a few people come here and e-mail me after reading my writing there.
3. Prepare a set of guest posts, hopefully 10 or more and have them in pocket for popular sites. This is a great opportunity to get my writing in front a new audience – a great way to bring traffic.
Early Retirement Extreme says
Just saw the personal MBA site. They have a complete list of books which seems quite nice! I think I have to focus on my “other” three letter cert. before I engage on that one, but it’s a good list to keep around.
Writer's Coin says
I agree about always upping the quality of the posts, that’s something I’ve def noticed when comparing old posts to recent ones, which is good. The guest post idea is new to me, and I will definitely try it out.
Wow, that’s pretty cool. I think I’d like to finish the year with 2 visitors coming to my site, and that’s not including my wife and mother hehe. Good luck on your goals. I’m thinking of trying to add another $500 to my prosper account over the year for rotating investments. I’m still a little gunshy about Prosper right now though.
Thanks for that link to personal MBA. I hadn’t seen it before but I’ll be checking out some of their recommended books.
Great way to make yourself work for the goals by publishing them! I will also need to do this!
Brip Blap says
If you’re making $5000 per year in “alternative income” and not working at a traditional job, isn’t that your “income”, sans “alternative”?
Lazy Man says
I think $50,000 would be (which I think is what you mentioned). However, I’m not counting any money that I earn via a salary. I will earn some money from other sources (such as contracting). So I guess my alternative income will actually be primary, but nonetheless it’s not what most people’s primary income is.
I’m not sure why the health goal cannot be the same whether you are indie or sell-out. How do you only get a $40k difference if you are selling-out making 6 figures versus indie making nothing? Seems to me that the sell-out figure would be higher.
Lazy Man says
If I’m independent, I’m going schedule definitive gym time in my day. If I have to work at a corporate job, there’s simply less time with commuting and maintaining side business. It could be the same goal, but it’s not realistic.
As an independent I wouldn’t necessarily make nothing. I’m already making money with my alternative income. I estimate that after taxes, a significant, the difference between sell-out and independent will be $40,000.
Ankit Arora says
Wow !! Very nice post !!
Infact, i really love the way you write about your Goals !!
This propels me to set my own goals as well !!!
Great Site !!