Money Babble

The purpose of "Money Babble" is to make financial planning more interesting and enjoyable for everyone.  

I'm a 26 years old gal that twinges at the thought of financial planning but loves blogging. However, I want to learn more about investment and financial planning so I can have the financial freedom and flexibility to life. I been blogging since 2002, but those blogs are just "sounding walls" for whatever were on my mind. This blog shall serve as a way to make me focus on my financial goals and to make financial planning a habit (and hopefully, more interesting).

I want to have the financial freedom to choose how I spend my time and not worry about how I would support myself.  If I have all the money in the world, I may continue working, or join a dance troop, or take violin lessons, or travel around the world…the possibilities are endless! Furthermore, I would be able to afford a few luxuries such as: dinners at 3 Michelin Stars restaurants, regular spa treatments, gadgets, even more travelings…. I am hoping that one day soon, all my lucky stars would align and I would win the lotto jackpot (I'm a lucky girl but I'm not going to hold my breadth on this one). 

My ultimate goal is to be financially free (~30 years). My definition of financial freedom is to have:

• Zero debt
• Passive income of $7,000/month (~$4,000/month after tax)
• Own two houses, free and clear (a beach house for me, one for the parents)

Long Term Goals (<10 years):

• Passive income of $1,000/month
• Buy a beach house
• Keep current house

Medium Term Goals (< 5 years): 

• $100,000+ in liquid assets
• Keep current house

Short Term Goals (<6 months):

• Streamline my asset allocation
• Learn and start invest in stocks, mutual funds, and bonds
• Buy a used car for self and sell mom's old car (maybe this should go into expense)

Constant Goals:

• Seek passive/investment income opportunities
• Educate self on investment and passive income generating opportunities
• Update this blog!!!