Personally, I think the best time to set your goals is yesterday but if the whole January 1st thing works for you then it’s a win. Whatever it takes, just set some goals.
I would like you to consider trying something a little different this time.
Let’s start with your endgame. At what age would you like to retire and what will your retirement look like?
Now, work that backward. Depending on how far out your end game is, break it down into four quarters and then break the first quarter down into even smaller increments. For example, if you’re 30 and your goal is to retire at 50 with 10 rental homes bringing in $15000 per month, where will you have to be in 15 years, 10 years and 5 years?
Then take that 5 years and work it back to 3 years, 1 year, 6 months and 30 days.
Maybe your goal will end up being 1 rental house within 1 year netting $250 per month and you estimate that it takes 100 attempts to land a house and six months until you’re collecting your first month’s rent. If you have to make 100 attempts in the first six months, that means you have to make about 17 attempts each month in the next six months or 3 per month.
This might not be the best example but hopefully it gets your wheels rolling to create a long term goal that you can actually envision with a broken down plan that you can actually follow and achieve.
If you need any help with your plans feel free to contact me or sign up to visit a WAM meeting and work with fellow members on your and their plans.