This blog serves me as a reminder to stay on track. In 2018, I give myself goals in order to raise my play level.
- Lose 20 pounds.
- Accumulate $2500 in churning of credit cards and bank account bonuses.
- Obtain a savings rate of 50%.
- Publish 2 public tools.
Lose 20 pounds
At the end of 2016, I had reached a maximum of 250 pounds. I was scared. I was now as close to 300 pounds as 200. I started eating better at the same time as I started this blog. During the year 2017, I reached a minimum of 214 pounds and I am now back to 220. I want to reach the symbolic number of 200 pounds. I went from “obese” to “overweight” according to BMI. Financial independence is also about working on your future health. There is no point in being rich but being sick. We cannot guarantee the future, tumor, cancer, or other incurable diseases. But we can guarantee that taking care of your body now can only have positive impacts for the future.
|Health/Caring for yourself||No tumors, cancer, etc.||Tumors, cancer, etc.|
|Taking care of yourself||Healthy Future||Future Not healthy|
|Don’t take care of yourself||Future not healthy.||Extremely unhealthy future|
While taking care of oneself does not guarantee to be healthy in the future, I can guarantee that not taking care of you, guaranteed not to be healthy in the future. So pragmatic optimism is the right way to go. If illnesses there must be, having taken care of oneself can help to get through the different treatments. The attitude and the placebo effect help.
The first 30 pounds were relatively easy, I cut sugar intake. The next 20 pounds will be more difficult!
Accumulate $2500 in churning account bonus credit card.
I started at the end of 2017 and the first bonuses will accumulate in 2018. I make ~ $1300 easily with these first bonuses. I think it should be possible to do the equivalent over the next nine months. I could have put $3000 as a goal, but it seems ambitious. I have to stretch the bonuses in time due to the expense prerequisites. Several offers also arrive by mail, we’ll see what will be available!
Obtain a savings rate of 50%.
My weighted savings rate over the last 12 months has decreased from 45% to 40%. I want to bring it back to 50%, which is aggressive given our house and our three children. However, several factors will play in our favor.
- The refinancing of the mortgage frees up a large amount of interest and increases our payment of principal.
- A salary increase of more than 13% in 2018.
- Trump’s tax reform benefits us because it adds a new tax credit of $2000 per child which I did not have access to in 2017. It also reduces the rates of taxation of different levels even if it limits the deductions of state taxes. In total, it should be a winner. The 401 (k) limit is now $18500 instead of $18000.
Publish at least 2 public tools.
I’ve been working on several micro-tools recently. The first is a version of Personal Capital that connects different bank accounts and credit cards in a single view. Very convenient to get a glimpse of your financial situation. Another tool is a dynamic RRQ simulator. It allows you to quickly see the payments to which you will be entitled and allows you to make simulations. My last tool is a credit card selector. It shows you which card to use among the ones you own in order to maximize your points.
All these tools are still in beta phase, but I want to publish at least 2 in 2018, either in Google sheets format, either in mobile application or on a Web site. To be continued. 🙂
To keep me on Track, I will update the status of my goals every quarter, as a business.
- First quarter – April 1st, based on results from end of March.
- Second quarter – July 1st, based on results from end of June.
- Third quarter – October 1, based on results for the end of September.
- Fourth quarter – 1 January 2019, from the results of the end of December 2018.
With that, I will have no choice but to be honest with myself!