Last year, I set 3 investment goals for 2007 and published these goals here on Investor Trip. If you're not familiar with goal setting, it's an important key to success in all your endeavors. Without any precise goals, how will you know if you succeeded of not?
Listed below is each goal I set for 2007, followed by the results in 2007.
1. Increase my net worth by $10,000 in 2007.
Success! I reached my net worth goal and eliminated all my credit card debt. I retained my student loans because borrowing for education is a good investment.
2. Max out my Roth IRA Contributions by April 2007
Failed. However, I did max out my contributions in late November. Sometimes persistence gets your goals achieved.
3. Contribute $200 a month to ShareBuilder
Success! The only note is I switched from ShareBuilder to Zecco and TradeKing. I am very happy with the switch and was able to reach my goal in by December 27th, 2007.
Did You Dominate Your Investment Goals in 2007?
If you reached your goals in 2007, then pat yourself on the back. Great Job! If you failed one or more of your goals, stay committed and expect success in 2008. 2008 is your year.
If you didn't have any goals to begin with, start writing ASAP. Once you write your goals on paper, you just increased your success rate by leaps and bounds.
Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website.
While living overseas, he uses PureVPN for a low cost VPN service.
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While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.