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Reading PF Blogs: Plans

January 10th, 2012 at 12:00 pm

So I was reading a couple of different Personal Finance blogs out there on the web, and I noticed that many of them tout their "plans" which are basically how they will achieve a given goal. I was kinda unsatisfied with the plans since they didn't actually involve exact dollar amounts. My Plan of Attack is an spreadsheet that outlines every savings goal we have for the rest of our lives. It states in dollars how much we want to save for that goal, when we want to achieve that goal, and how much we have to put away every month (if we did not earn any interest) to achieve it. The goals are ranked in order of importance to us and I track the goals we are currently working on.

From this I know for a fact how much I need per month to achieve all of our goals on time ($3,702) and how much I need per month to achieve all of our goals before our current projected retirement age ($1870). I have calculated when I will achieve the goals we are currently working toward (August 2013, early) and when we will achieve some future goals (November 2015, late). I have a plan for what we will work on during certain years of our life which can get changed as we finish items early or late.

This may not be a plan that I would publish for all to see, but it is a plan that is useful to my family and achieving our goals.

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