Small Steps Lead to Success for 2016 Goals

05 Mar 2016 13:01

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My goals this year are pretty lofty and the only way to get their is to climb one step at a time. This week I took a couple more steps.

1. Transitioning my old 401K – The remainder of my 401K assets finally arrived into my IRA. Starting the transition to a dividend growth portfolio is now all on me and how I invest. I will spend the weekend determining which assets to buy and will place all my limit orders on Monday. I am well aware of the recent market increase and expect most orders to go unfilled in the early stage.

2. Fund 100% of daughter's first year of college – We received confirmation in the middle of the week that my daughter received a second scholarship of $7500. This latest scholarship equates to 80% of tuition costs being covered. The remaining 20% I already have covered so I have completed my first 2016 goal!

Of course we won't stop there. I made a deal with my daughter that for every additional scholarship she receives I'll give her the equivalent in cash that I would have paid. This should help with non-school items like gas & maintenance for the car as she will be commuting to school.

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