2021 Financial Goals: Results Are In

It’s 2022! We made it people! Not gonna lie, there were some rough spots that gave me reason to think otherwise. Glad to be wrong so far.

Now that we are in the new year, I can officially see how we did with our financial goals for 2021. Previous updates here:

There were some unexpected changes which meant that some closings got pushed out of 2021. Meaning that I did not get paid on some sales that I was originally expecting to be paid on. They will be added to next year’s plans. Given that, let’s see how we did.

Here were the original goals for 2021:

  • Figure out how the hell a backdoor Roth-IRA works 
    • If it makes sense, open Traditional IRAs for both of us
  • Increase monthly IULs to $250 each
  • Max out my 401K
  • Get Mr. FOGA to 2/3 Max of 401K
  • Pay an additional $25,000 towards the mortgage principal
  • Make house savings account for $10,000
  • Invest $25,000 in VTSAX
  • Make $250,000 gross income in 2021
  • Get to a Net Worth of $450,000 (including the house)
  • Help my friend with money for a divorce lawyer

I mentioned previously that there were some unexpected changes which meant that about seven of my closings got pushed out of 2021. Meaning that I did not get paid on some sales that I was originally expecting to be paid on in the year 2021. Given that, how did we do:

  • Figure out how the hell a backdoor Roth-IRA works 
    • If it makes sense, open Traditional IRAs for both of us
      • Done! Opened traditional IRAs and both are maxed out.
  • Increase monthly IULs to $250 each
  • Max out my 401K
  • Get Mr. FOGA to 2/3 Max of 401K
  • Pay an additional $25,000 towards the mortgage principal
  • Make house savings account for $10,000
    • Done!
  • Invest $25,000 in VTSAX
    • Changed this one to $25,000 in total stocks/index funds
      • Done and surpassed!
  • Make $250,000 gross income in 2021
  • Get to a Net Worth of $450,000 (including the house)
  • Give $10,000 towards charity/direct aid
    • Help my friend with money for a divorce lawyer
    • $6066. Ended $3934 short.
      • I am going to be writing more on this one in the future. Short version: I am happy that I met the original goal of helping my friend, but I am not happy that I missed the full $10,000 goal. This was due to those closings getting pushed to January, but doesn’t change that it was missed.

When I made the original goals list, I said that I was being ambitious with these. Then 2021 said otherwise. Not in my wildest dreams did I actually think I would be able to accomplish all of the original goals (or make them obsolete). I also did not think that we would be able to surpass so many of them to the extent that we did. Financially speaking, this has been the best year ever for us (society wise of course is a whole other thing).

Given how far off we ended up being in some of these, I am honestly not sure how to set the goals for next year. Maybe go big or go home should be the motto here. πŸ˜‚

Time to get to making those 2022 goals.



How did you do on your 2021 Goals?




Feature Photo by Emma Svalstad on Unsplash

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