2023 Goals

Following the success of setting goals and a monthly check-up in 2022 (the review can be found here), I want to continue in 2023 to do much of the same. Therefore, I have some goals for this year I want to establish and pursue. They are:

1. Continue to post bi-monthly articles
2. Write a series of posts on budgeting
3. Explore active and passive income streams
4. Research and plan some trips
5. Research and explore a podcast

This year marks a strikingly different focus than last; indeed, purchasing another home has made us really rethink things and how we approach them. To that end, this is the year of just simply trying to establish another rhythm when everything’s been disrupted.

2023 Goals – Continue to Post Bimonthly Articles

Building and maintaining consistency

This one is a holdover from last year. By continuing to write and publish two articles a month, I am demonstrating consistency and the build-up of this brand – it’s really that simple. Once the frequency is well entrenched, I can begin by polishing up the look here at The Wealthy Ironworker. February will mark 5 years I will have been at this – with some level of consistency – and I want to reinforce it. It may seem as though I am trying to build up content and to an extent that’s true, but another reason is to instill some discipline in myself.

Nevertheless, I plan on continuing the schedule no matter how busy I am and hope to have some great content by the year’s end. This is a good segue into the next goal.

2023 Goals – Write A Series of Posts on Budgeting

This series is something sorely needed

Why this goal? What is the reason for this particular focus?

There are a few reasons, really. First, the concept of budgeting is vital and important. IF you do not know your money in/money out scenario, you are in poor company (pun intended). CNBC reports an astounding 73% of Americans do not budget. This is the height of lunacy – well that and the fact that a “supposed expert” says it’s ok not to look at a budget.

Second, given that most do not budget makes it even more important for people to have someplace to go and review the basics. I am not an economist, scientist, or engineer – I am an Ironworker by trade. Who better to talk to those in the trades other than someone else in the trades?

Third, I am working through some budgeting things myself. We recently purchased another house and that prompted me to revisit our own budget. A house is a major expense and having two mortgages is rather daunting, to be honest. This is not the time to throw stuff against the wall and see what sticks. Rather, I plan to be intentional about crafting a budget, compartmentalizing with different accounts, and tracking it meticulously. I suspect keeping a record of this goal will be advantageous for others. I won’t get into particulars or specific amounts; instead, I plan on providing details on focus, adjustments, and how I essentially do it all.

Fourth, I am working with someone who needs to be taught the basics of budgeting – which is what I suspect many young adults need – likely the adult children of people in the trades. Or maybe it is someone just getting in the trades – or even a seasoned veteran. Whoever it may happen to be, I suspect the way I handle the instruction here is something others can model and adapt for their own personal use with themselves and/or their kids.

Fifth, for unknown reasons, there is a “fear” of budgeting people unreasonably have. The hope is that by modeling budgeting at an easy-to-understand level, some can overcome this unnatural fear of something so essential to a successful financial life. There really is no good reason not to take the time to actually create a budget. They are simple, provide a game plan, and possess the ability to really help you navigate through things.

So there you have it – 5 reasons why I think 2023 is going to be the year of the budget.

2023 Goals – Explore active and passive income streams

Everyone wants more money – the question is, how do we go about getting it?

This one is another holdover from last year but deserves another look. The reasons are many but renting out a house is a large move towards passive income – and as such, perhaps I should be a little more active in pursuing this goal. What’s more, our former house I purchased 15 years ago and the mortgage is quite a bit smaller than the one we have now. This means reevaluating all things financial including the income we bring into the home. I like having margin and I have less of it now. (I feel another post idea here on margin).

In any case, I have the motivation to look into this one even more and hopefully start something that will continue for years to come. And, as I navigate through this, others may learn lessons to apply in their own life. Winning.

2023 Goals – Research and Plan Some Trips

One of my favorite photos from a trip we took recently

This one is interesting. 2022 saw me travel more than I ever have and I enjoyed just about all of it, to be honest – personal and professional. I have some trips already planned out for this year but after visiting Banff National Park in Alberta Canada this past December, I have a renewed interest in the Rockies. We typically try to visit National Parks as a family and I can say there are some very specific parks I’d really like to visit: Yellowstone National Park, Grand Tetons National Park, and Glacier National Park are the top 3 that come to mind. I would also like to revisit Yosemite National Park in the future – that is one special and amazing place. For my money, I have never come across a view that rivals Glacier Point in Yosemite in all the parks I’ve visited so far.

Each of the above takes meticulous and careful research and planning. Moreover, It’s not a stretch to say for a thoroughly enjoyable trip, each of these could be a couple of years in the making – all the more reason for some serious planning.

If I had to rate the above parks, I’d say Yellowstone and Grand Teton are at the very top. The NorthWest corner of Wyoming merits at least a week – ideally two – to fully enjoy the views afforded to those who visit. Talk about planning!

Other trips – whether for work or personal – pop up from time to time, are already scheduled, or will also require some sort of planning to maximize the enjoyment to be had. I’ll be taking plenty of photos and documenting the travel for posterity.

2023 Goals – Research and Explore a Podcast

Long-form conversations via podcasts have soared in popularity

It seems like everyone has a podcast these days. That’s not the reason I want to explore a podcast though; it’s more that I have a specific focus and believe in the long run that if I can get things together, it would be beneficial. What’s more, I’ve had some conversations where others asked if I had one – or planned to. They felt it would be beneficial and some assessment on my part tells me I think they are right. To be honest, this is one of those things that I do not feel like doing the leg work for but I know that if I do, I’ll be glad later down the line. I just need to find the energy, time, and space. It likely won’t be the first half of the year; I have a lot to do with moving to a new house.

Conclusion

In the end, this year looks to take a different turn than 2022. Things and situations change and I need to get acclimated to a new routine with a new budget – and firmly believe it can be of help to others. Let’s get at it and see what we can accomplish when we are intentional about it!