My 5 Year Goals

This time of year, it seems everyone is setting their 2011 goals. I set mine the other day, but also set a few longer-term goals to help guide my way.

Just like anything in life, the farther out you look, the harder it is to accurately determine outcomes or set goals, so I take these with a grain of salt. As life happens, and situations change, these will likely need to be updated.

Within the next 5 years, I want to…

  1. Buy a Home
    This one has been on my radar for some time, and figure it will likely happen in the next few years. Right now I rent, and judging by home prices in the region, renting isn’t necessarily a bad thing in my case. As I get more established career wise, buying a home will be a smart investment.
  2. Travel
    I used to travel a lot when I was living with my parents, but since I finished high school I’ve been almost no where, as I’ve been in school non-stop. I want to turn this around, and head over seas (Europe? Australia?) to get another perspective on the world. I’m not talking 2 weeks, I’m talking a few months.
  3. Start and Grow My Own Business
    I’ve always had the entrepreneurial bug in me, and want to venture out on my own and create my own career path. I’m still figuring out exactly in what area, and how to do it, but its on the radar. My guess is, it will involve developing a variety of revenue generating properties, which is in keeping with what I currently do for my employers.
  4. Figure out the Work / Life Balance Once and For All
    I’ve spent the last 5 years attending work and school at the same time, and have never been able to set a real ‘routine’ for life, that balanced work, sleep, school, exercise, and fun. I want to find a way to do all of this, without burning out, once and for all.
  5. Build a net worth of $150,000
    This is through a combination of saving, investing, and eliminating any debt. I’m at $22k right now, so its a long way to go!

These are pretty broad buckets, but are the big priorities I want to accomplish over the next several years… I figure if I can reach all of the above, all of the other goals in my life start to fit in place.

Do any of you have any 5 year goals? Share them in the comments below!

TSM

TSM is a twenty-something year old guy living in Canada. Follow along as he tries to build wealth through budgeting, investing, paying off student loans, and shopping for a home – all while trying to find his purpose in life.

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  1. Your goals sound a lot like mine! My wife and I are digging our way out of debt and would love to buy a home soon! Also, is it possible for me to get on your blog roll? I can tell that this site is going to be very popular, and would love to be a part of it.

  2. Ahhh I had set some five year goals… six years ago. I hit most of them, since then I’ve been in a sort of limbo as I don’t know what to plan for next. I’m lost without a plan. I’ve come to realize recently that some of the major goals I have are to travel more (like you) to grow my business and finally finish my dang degree. I haven’t written these down yet. I plan to though, it’s fun to look back after five years and realize how far you’ve come.

  3. I think that even the fact that you take the time to think so long-term and that you are so ambitious is a good sign for future success, whether you hit all of those goals or not. I too struggle with the work-life balance thing, and sometimes feel like I’m always just focusing on the future rather than enjoying the present. I too have the entrepreneurial bug, but I’m not sure how much risk, etc., to take on. Luckily, my career lends itself to one day having my own “practice”. Even still I would love to have a business outside my profession. Best of luck in reaching all of your goals, now and in the future. I look forward to reading your blog and seeing how you do.

  4. Sounds like reasonable goals. My biz is off the ground and slowly (I prefer this) ticking over. Am traveling at the mo~ another goal~ tho I like going away for 10 days or so and then returning to base ~:-) If you visit Australia, you can couch surf at my place in Cairns~ reef and rainforest!

    I want to do more short stint travels, build up the sustainability of my online and offline recycle biz and save for land for when city living attitudes just annoy me too much ~:-)

  5. Good set of goals. Especially about balancing work,rest and play. I find this rather difficult. I always seem to have diminishing amount of time for rest. I wish the old cliche about the days being longer was true. Also your point on travel is good too.

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