My financial plan this year is to finish topping up my Personal reserve of $30k by end of this year. Also have saved up extra including 1 month completion bonus to pay off my Insurance annual premiums at the end of the year without affecting the $30k balance.
Then I want to up the Personal reserve amount to $50k which I will try to save up in the following year of 2011. The reason for this is that I am quite surprised at how much I had depleted in just a space of 8 months unemployed. Yes it was with driving which cost me $2.8k so far. But even without it, it would near $10k for just 8 months, aka $1250 per month. Thats high and really not that sustainable on a $30k.
It should be noted that this is just on my Personal reserve side. I have not touched my Investment account yet.
I want the Personal reserve to cover the annual insurance premiums and also provide the security in case of joblessness/illness.
The Investment account, I am trying to grow it. Of course it feels good that I am making profits here and there through some trades, some ST, some MT, some LT. Am looking for opportuinites to buy-in and sell whenever I can. Sometimes I dont make the best decision due to not being able to monitor 24/7 and some decisions and hesistance but so far on the whole, still pretty good. I take it as I am making some income by not having to sell my manual labour, yes there's still time investment BUT at least I dont have to travel here and there for the extra income. Just that its not enough for my retirement.
I am still young, can work on it. This is just my 2nd plus year of doing so. So far the 5 investment targets at still at $10k, $15k, $20k, $25k and $30k. Havent hit one yet. Almost there but really not selling much. So see how the market goes this month. Cos more free to look at prices and make decisions.
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