Sunday, February 21, 2010

2009 Annual Report

Happy to say that I have my income taxes done. I'm calculating the figures to see if we met our goals:
  • age x income/10 = average accumulator of wealth x 2 = our target (from book Millionaire Next Door)
  • 20% savings contributions (retirement, added cash value in insurance, principal reduction of mortgage, and education savings)
  • 21% of annual income from passive sources (net rental income, dividend, capital gains, & interest) - an age based calculation
  • 10% charitable contributions to family/community

Also, the annual report should reflect our mission - financial freedom and time spent with family, a comparison of the net worth statement from 2008-2009, employment marketability...

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