Updating My Goals And Shooting For The Stars

At the beginning of the year, I shared several goals and established some milestones to be achieved by April 1st. In this post, I am planning to update these goals and set new ones for the future. I am doing this because I believe having clearly defined goals is the key to success. And I think it’s even better if I write them down and share them.

1. Goals For Moolanomy

I shared three goals that I wanted to achieve by April 1st, 2008:

1,000 subscribers
45,000 page views per month
$417 income per month (or $5,000 per year)

I am very happy to say that I was able to achieve and exceed all three goals — thank you all the readers and bloggers for your support! In the second quarter, I am hoping to improve upon March results by 10% per month. So my new milestones for July 1st are:

1,500 subscribers
72,000 page views per month
$1,000 income per month

2. Alternative Income

One goal that I haven’t clearly defined before is my alternative income goal. I just checked my 2007 income tax returns, and our non-salaried income was 7.3% of our salaried income. In 2008, my goal is to increase my alternative income percentage to 15%.

3. $1 Million By 2017 Goal

With the current economic weakness, it’s likely that I will have to adjust my $1 million financial goal (as pointed out by David from David Makes Cents). However, I am not ready to do this at the moment. But I am planning to increase my contribution to $25,500 in 2008 — $15,500 to 401k and $10,000 to two IRA accounts.

$1 million goal

4. $250,000 by 2024

This goal is pertaining to my son’s college savings fund. I’d started his 529 College Savings Plan in October of last year and my goal is to contribute $5,000 a year until 2024 to build a $250,000 fund. Since I was slightly ahead of schedule last year, I think I am okay this year.

Conclusion

So far, things look very good for Moolanomy, but not so good for my financial goals. However, I think everything will work out since Moolanomy is one of my alternative income stream, and in the end it should help me meet my financial goals.

This article was featured in:

The Carnival of Financial Goals #5 hosted by I’ve Paid For This Twice Already…. For more information please visit the Carnival of Financial Goals.

18 Comments

No Debt Plan
March 31, 2008, 8:32

Congrats on the success and blowing the income number out of the water!
Hope to follow in your footsteps some day…
PT
March 31, 2008, 8:41

Great job, Pinyo. Congrats on meeting your goals. Keep it up!
squawkfox
March 31, 2008, 9:18

Yay Pinyo! Big congratulations for meeting and then exceeding your goals. Now, time for you to join Toastmasters!
Pinyo
March 31, 2008, 12:05

@No Debt Plan — It takes time, just don’t give up and try everything you can.
@PT — Thank you.
@Squawkfox — Thank you. Ah, Toastmasters…it’s on my list.
Shanti @ Antishay Ventenne
March 31, 2008, 15:40

Congratulations! That’s so awesome… and you COMPLETELY exceeded all of your goals. Go awesome. Way to go
Vered
March 31, 2008, 15:40

This is inspiring. I must say I am not as good as you are with setting clear, specific goals. But I just might do that after reading this.
Re: blog success vs. financial success, wasn’t it Nick Denton who said that blogging is good for readers, not so much for bloggers?
Pinyo
March 31, 2008, 16:30

@Shanti — Thank you.
@Vered — You definitely should. Although I must admit that setting clear goal is a good start, but may not be enough. I found that it takes a little bit of luck when it comes to blogging. In general, you could find both high quality bigger and smaller blogs — some just struck gold for some reason.
Make Friends, Earn Money
April 1, 2008, 3:52

Hi Pinyo, well done you thoroughly deserve your success with such a well written and thought out blog. Personally I don’t know how you manage to written so many high quality blog posts each day. Keep up all the good work, hope your wife is sharing in your success, I think you might have to buy her an especially large bunch of flowers this month!
Pinyo
April 1, 2008, 7:37

@Make Friends — Thank you. I definitely keep my wife informed and she’s supportive. But I don’t buy her flowers. She thinks it’s a waste of money and prefers chocolate.
jim
April 1, 2008, 8:05

Hahaha, my wife prefers both…
Sherthebear
April 1, 2008, 9:17

Great work at working toward your goals. I am new to your blog, but I very much enjoy all the info on your blog. I am learning so much.
Newb
April 1, 2008, 10:31

Keep it up!!!
Christine
April 1, 2008, 22:22

Awesome! Way to go! That must be a great feel to exceed all three of your goals.
David Carter
April 2, 2008, 12:07

Thx for the link back
Pinyo
April 2, 2008, 19:23

@Jim — Ahh…newlyweds.
@Sherthebear — Welcome to Moolanomy!
@Christine — As long as I am not comparing myself to others who did better…I am feeling great.
@David — No problem.
My Dollar Plan
April 3, 2008, 18:26

Pinyo,
You are doing a great job. Keep up the work. I believe that goal setting is the key to success!
Pinyo
April 3, 2008, 19:41

@Madison — Thank you.
My Daily Dollars
April 4, 2008, 10:09

How exciting that your blog has grown so! As a new blogger, I can only admire in awe. I’m sure that having clear goals is contributing to your success!