We are halfway through the month of January, and I’ve got a confession. While we’re rocking on some goals, others aren’t going so well. In fact, I’ve already failed at some of my goals completely.
But I don’t really care – and there’s a reason.
I Suck At Goals
Here are some of the goals I’m already behind on, or flat our have given up.
Finalize the rollover of my old 401(k).
I’m behind on this one, and it’s stupid. You see, I’d meant to have this done last year. Actually if we’re being honest, back in 2016.
I have a Roth 401(k) from my first job that’s still sitting out there. It’s got a fair amount of money in it, but I haven’t rolled it over into IRA’s yet.
The only reason I haven’t rolled it over yet is because I need to talk to somebody on the phone. And if you know me, you may know that I hate talking on the phone.
I’m behind, but it’s not too bad of a deal. I realized that a fair amount of the portfolio is in old company stock, and it’s been performing very well lately. If I roll it over this week I should be able to lock those hefty gains in and then reinvest in a Total Stock Market Index Fund.
Self-Imposed Deadline: End of January.
Convert Financial Fridays posts into a freebie opt-in email course.
This one will take a little bit of work, but I’m excited to get it done. That being said, I have no idea how to even begin.
For starters I know I’ll need to rewrite some of the content, so that’s my goal for this month. I’d like to have this one squared away by the end of Q1.
Self-Imposed Deadline: End of March
Generate income of $500/mo through blogging and other freelancing, etc.
Not too bad on this front yet. While things haven’t materialized, I feel confident that they will easily by the end of the year.
I’ll have a post on Friday that explains some of this in a bit more detail. The side hustle game is pretty new to me, though, and it is taking some easing in to.
Limit alcohol intake to 1 day a week. Exceptions allowed for vacations.
Udder failure. In fact, I didn’t even last a week on this one.
On Wednesday the 3rd I decided, after coming home, that a whiskey with dinner sounded like a good idea. I totally forgot about this goal when doing that.
Later over the weekend I had a couple of beers at my brother’s house, so this one was toast.
Revised Goal: Don’t drink during the week.
So why am I sharing this?
It’s a reminder that even though many people set goals at the beginning of the year, it’s important to evaluate your goals frequently.
Making goals shouldn’t be a once-a-year thing.
Goal-setting is an ongoing process, one that should accompany your thoughts every time you think about what you’ve been doing lately.
I like to make goals on a monthly and quarterly basis as well. Revisiting things helps keep them fresh in my memory – which I clearly need. And shorter time-frames are easier to deal with.
Those shorter goals ultimately should help prop up the longer-term ones. Having a month or even a week or two without spending anything (except on essentials) isn’t sustainable long-term. But it can be a nice little boost as we aim to save more and grow our net worth.
Don’t Give Up Altogether
If you’ve already failed at some New Year’s Goals, it’s okay. Not every goal is meant to be followed forever. Sometimes life changes, or you just set an unrealistic goal.
Keep evaluating your situation, see what is going well and what’s not. If your goals change, or if you decide it’s not something you want to follow anymore, there’s nothing wrong with changing your mind.
Are your New Year’s goals going better than mine?