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Challenge Goals

January 24th, 2006 at 02:28 pm

In following with last years challenge, I will continue along the same lines of looking for good investments and reselling them in my spare time. Since I know that the site and other commitments will be taking up most of my time this year, my yearly goals are a bit less ambitious than last year. The overall goal, however, has been put forth to make this a truly long term endeavor.

I've decided to begin with $0 and my ultimate goal is to reach $1,000,000 all done in my spare time. As I mentioned earlier, this is a looong term goal and I expect it will take several decades to complete, but you have to begin somewhere. I decided to begin with $0 instead of the $20 for the normal challenge because if I do ever accomplish the ultimate goal, it just sounds cooler - I know, I know - but it's just the way I am sometimes Wink

I've chosen the name "Active Investing Blog" because most of the money will be generated through active investing, though probably not typical investments of stock, real estate, etc - at least not until I return to the US (and until my balance is a lot bigger). I will also earn through passive means, but this will not be the focus.

Monetary Goals

Monthly: I'm looking at a monthly goal of creating a minimum of $250 in extra income in my spare time. This is subject to change depending on time commitments and how things are progressing.

Quarterly: The $250 minimum will mean I'm shooting for $750 per quarter.

Yearly: The yearly goal will be to end with a minimum of $3000.

Non Monetary Goals

Come up with and try a new way of making money each quarter

I'm looking forward to this challenge as a fun diversion from other aspects of the site and hope that we cam all learn some stuff along the way.

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