Five Year Financial Plan

I was reading over at No More Spending's site about Laura's five year plan.

Wow. What a concept.  I have never actually written down any kind of plan for my future.   I have a loose idea of what we want to do, obviously paying off our debt would be at the top of the list.  And I have some ideas on what we need to do for Mr. A's businesses as the extra money becomes available.

I think I'll try to hammer something out right now using Laura's example:

2010 to 2015:

Finances:

  1. We're completely free of credit card debt 2013
  2. We have saved 1 year's worth of living expenses in 2014
  3. We have a healthy emergency fund (at least $5000)
  4. Save for the purchase of a vehicle to replace my 14 year old Pathfinder

Home:

  1. Build my office addition to our home in 2010
  2. Replaced the carpet with tile or wood in 2011
  3. Refinance home for a 15 year mortgage in 2010 and have less than five years left until we're paid off by 2015 (that was confusing!  I meant to say 5 years left to the mortgage by 2015, which makes the mortgage paid off by 2020)

Business/Work:

  1. I've retired from my “day job” and work part-time for Mr. A by 2012
  2. I've continued writing on my blog
  3. Turn Mr. A's business into an LLP in 2010

Personal:

  1. Restore my health through healthy eating with signs of healing by end of 2010
  2. Get more organized with my time

What about you? Have you ever written a five year plan?

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5 thoughts on “Five Year Financial Plan

  1. Wonderful, great plan, I love it. It’s so great to try and visualise where you’ll be in 5 years time; I do it every day, it keeps me focused.

    Part time in 2012, and mortgage gone in 2015, now there’s something to aim for 🙂

    [Reply]

    Mrs. Accountability Reply:

    Hi Laura! Thank you for stopping by and commenting! Hey I was a little bit confusing there, so I have updated on my plan. I meant to say 5 years left to the mortgage in 2015 (so paid off by 2020). 🙂 I sure hope I can “retire” from my regular job in two years. That would be so awesome! I would still work for my hubby’s businesses keeping his books, but I love doing that. I’d have SOOOOO much more time for blogging, my first true love! Thanks for the inspiration! Mrs. A

    [Reply]

  2. There are two place you can find forecasting software. Get the book Winning in Biz which has a chapter on how to do a forecast and includes an Excel template to prepare a multi-year forecast or go to their step 15 of the 20 step business program were you will find upscale software.

    [Reply]

  3. Pingback: A Letter to Myself

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