Sunday, January 03, 2010

No New Resolutions for 2010

After realizing that I haven't fully met my 2008 New Year's resolutions, I decided not to make any new resolutions for 2010. Instead I am going to continue working on the 2008 resolutions until they become habit, making the process a three year plan. Here's my latest report card on how I'm doing on the 2008 resolutions.
2008 New Year's Resolutions and Status
CategoryCategory ActivitiesStatusGrade
Healthier LifestyleLose 10% of weight Briefly achieved 10% in September, 2009, but have only been able to consistently maintain a 7.5% loss.


Better dietAchieved a target of 5 servings of vegetables/fruit per day in July, 2009, but have regressed back to 2-3 per day.


More exerciseIn July, 2009, I had exceeded my target of 3 times per week by regularly exercising 6 times per week. Have fallen back to 1 time per week.


Tax StrategiesIdentify five strategies to minimize taxesUsed Roth IRA contribution, Child tax credit, Roth IRA conversion , and 0% long term capital gains in 2008. Continued to benefit from these four tax strategies in 2009, and added a fifth of using accelerated itemized deductions and standard deductions in alternating tax years.


Contingency incomeEarn 20-40% of retirement income needs in first 3 yearsAchieved 27% in 2008 due to deferred compensation. In 2009, 16% was achieved because our monthly expenses declined when we paid off our mortgage. It isn't clear yet whether I can achieve 20% in 2010.


Have FunFamily activities and vacationsHave attended 100% of our daughter's pre-school activities for parents. We do an annual vacation with in-laws, and an annual family camping trip. We are planning a trip to either Yellowstone or the Grand Canyon


HobbiesPlaying tennis, rediscovered stamp collecting, and playing some golf.


I won't consider my 2008 resolutions successful, until I give myself an A in every category. As a start, I will be returning to a schedule of visiting the company gym at least three times a week, starting tomorrow.

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial or personal development advice. Please consult a professional advisor.

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