2022 Goals and Quarterly Updates

Versions
  • 1/1/2022 : Plan start

History

My FIRE journey started in 2014…..07/21/2014 to be exact is when I wrote the About section of this blog. I have completed 7 years on the FIRE journey and moving to my 8th year. I went from accidentally learning about FI to earning the following Passive Income dollars per month from 2014 to 2021 with a 2022 estimate as well.

YearDividends per month
2014$0171.02
2015$0705.80
2016$0840.80
2017$1040.13
2018$1380.78
2019$0868.90
2020$0733.73
2021$0877.75 (goal for 2021 was $900)
2022$900.00 (targeted goal for 2022 after a failed attempt in 2021)

FIRE targets for life

My Financial Independence criterion, that I followed for the period 2014-2019, is listed here. In 2020, I changed the way I track the path to reach that goal. Why? I educated myself on a different way of looking at my portfolio called Bucket Investing Approach. I have listed my rationale and explained how I want to use the Bucket Investing approach in my financial life here.

With that in mind, I am going to list my FIRE targets for life! From this table, I will derive the 2022 yearly financial goals later.

Bucket 1: CASH3 yrs of living expenses
Bucket 2: BONDS7 yrs of living expenses
Bucket 3: EQUITY 30 yrs of living expenses
Bucket CF1: College Fund 1$100K
Bucket CF2: College Fund 2$100K
Bucket Mort: Mortgage Loan-to-Value ratio0% (fully paid off mortgage)
Bucket Med: Medical Fund$100k….via HSA

Using the above targets table, my goals for 2022 will be derived next.

FIRE goals for 2022

For 2022, I have the following mini goals to get me closer to the FIRE targets for life listed in the previous table.

  1. Contribute $12K to Bucket 1 (CASH Bucket…3yrs of living expenses)
    1. 03/31/2022
    2. 06/30/2022      
    3. 09/30/2022      
    4. 12/31/2022      
  2. Contribute $0K to Bucket 2 (BOND Bucket….7yrs of living expenses)
    1. 03/31/2022 DONE (Nothing to do for this year)
    2. 06/30/2022      
    3. 09/30/2022      
    4. 12/31/2022      
  3. Contribute $12K to Bucket 3 (EQUITY Bucket) via Brokerage Account
    1. 03/31/2022
    2. 06/30/2022
    3. 09/30/2022
    4. 12/31/2022      
  4. Contribute $39K to Bucket 3 (EQUITY Bucket) via 401K
    1. 03/31/2022
    2. 06/30/2022
    3. 09/30/2022
    4. 12/31/2022      
  5. Keep Loan to Value (LTV) ratio <= 75% for 2021
    1. 03/31/2022
    2. 06/30/2022  
    3. 09/30/2022
    4. 12/31/2022 
  6. Max out HSA contributions ($7300)
    1. 03/31/2022
    2. 06/30/2022      
    3. 09/30/2022     
    4. 12/31/2022       
  7. Contribute $4800 to 529 College Fund 1
    1. 03/31/2022
    2. 06/30/2022      
    3. 09/30/2022      
    4. 12/31/2022    
  8. Contribute $4800 to 529 College Fund 2
    1. 03/31/2022
    2. 06/30/2022    
    3. 09/30/2022
    4. 12/31/2022     
  9. Estate Planning (Will, POD beneficiaries, Caretaker for children)
    1. 03/31/202
    2. 06/30/202     
    3. 09/30/202      
    4. 12/31/202

Bucket Status 2022

  • 1/1/2022 Update
NamePurposePercent Complete
Bucket 1CASH (3 yrs of living expenses)56.21%
Bucket 2BONDS (7 yrs of living expenses)92.42%
Bucket 3EQUITY (30 years of living expenses)66.72%
Bucket CF1College Fund 187.79%
Bucket CF2College Fund 227.70%
Bucket MortgageLoan to Value ratio (low band price)70.76%
Bucket HSAHSA Medical Fund42.25%

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