The net worth goals might seem rather high and they do depend on everything going right.
The goal for this year is based on:
Current savings from salary: $20,000
Retirement contributions: $7,000
Investment returns: $30,000
Inheritance: $20,000 ($7,000 of which has materialized the other is a guess of the value of my share of a land sale)
Exchange rate change: $23,000
I'd be happy with a lot less - say a $50,000 gain instead of the $100,000 gain. But with $16,000 added to net worth so far this year I am right on track for the $100,000 goal.
The decade-end goal is dependent on there being a new stock bull market in 2007-8. This is what I expect based on the four year stock cycle. Based on the 2002-5 bull market I could double whatever wealth I have at the beginning of such a bull market. If that happens, the $1 million goal will not be so hard to achieve.
At the moment I am mainly trying to preserve capital against a potential downturn this year. You have to be very daring and right to make money in a down market...
1 comment:
Are you prepared to share your investment portfolio decisions and how your investments are tracking? I have been investing for many years and I am trying to get a blog off the ground to show people how to create a portfolio and manage it. I am also prepared to pay people for stock tips if they make profit. Perhaps you would contribute one idea? My blog is investment-challenge.blogspot.com.
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