Our 2020 Goals

With 2019 in the rear-view mirror, we have outlined our goals for 2020. We are still aiming for our long-term goal of financial independence by 2027. But we need our yearly goals to keep us on track to meet that end goal of a $2M net worth. Also, we have some personal goals that we help us become better and stronger people for the future ahead!


  • Max out 401ks. This is something we do every year and should be one of the easiest goals on the list to hit. With employer match and our contributions this equals about $45,000 in savings. Without doing this, it will be impossible to meet our FIRE goal.
  • Save $10,000 in 529. With our growing family we are also saving our future child's education. In New York, we get the maximum tax break by saving $10,000 per year, so we will aim to contribute that to the 529 account.
  • Double Mortgage Payments. We have been paying double mortgage payments, so we can pay off our house by the time we want to retire. We need to keep this up for 2020.
  • End 2020 with $30,000 in cash savings. This should be an easy goal to hit but with daycare starting in September and the unknown costs of a child, it might be harder then we expect.
  • Buy a rental house if we have an "extra" $25,000 available. This goal may ultimately depend on the bonuses we will/may receive over the next two months. It will also depend on how disciplined we can be in saving and maintaining a budget, especially with a child. However, getting another rental house under our belt is key to the early retirement plan.
  • End 2020 with a net worth of $1 million. This will ultimately depend on the stock market. 2019 was a VERY good year, so we are now in a position to make this an achievable goal if the market remains positive. However, a negative year for the stock market can set this goal way back.


  • Attend church 26 times. We have not been good about going to church over the last few years. This is something we want to prioritize in 2020.
  • Work out 20 days per month. Likely the hardest goal on this entire list (even when compared to the financial ones). This will be even harder with a new baby in March. Yet, it is something to strive for.
  • Be proud of our eating habits. We usually cook our own meals and bring lunch to work, but there are so many easy ways that allow anyone's diet to get off track. We don't have a set plan for this, but we are working on increasing our green vegetable intake and cutting down on the unnecessary desserts.

So that's our goals for 2020! We are really excited for all the adventures that 2020 has in store! Hopefully writing our goals down on paper and telling you all about them will help us achieve them!