Monday, December 31, 2007

2006 & 2007 Greatest Accomplishment

Let’s see what I did well in the past and screwed up in the past as well:

What I Did Well

  • I successfully ran out of my comfort zone and joined a new company. I learned a lot of things out of it. My learning curve shoots up exponentially. Most importantly, what I learned build up my competent area in my expertise.
  • I successfully maintained my yearly income raise at 7% rate or higher in order for me to achieve financial freedom at 40. So far, this holds true in these 7 years of my working experience.
  • I managed to move my parents out of their comfort zone too. They are staying in East Malaysia and I’m in the West Malaysia. I meet them once a year (sometimes more than that) and this is not a solution in long term. They have sold their house eventually and officially will move to West Malaysia in May 2008. They are going to stay at this house.
  • I managed to start 2 blogs(i.e. software blog and financial blog) to generate income out of it. I set a very minimum goal to get a Google’s check by end of this year and I finally able to do it by 2007. This is also one of my second incomes. Although the earning is not as many as I wish, it is a good start and able to cover the cost I registered a domain which I don't use. :D Most importantly, I use blogging to help me to manage my thoughts and goals. I can also share what I learn to all of you.

What I Screwed Up
  • I failed to survive in a new company. Perhaps I stay in the comfort zone for too long. Although I learned a lot of things in this new company and I realized that I cannot perform as good as in my ex-company for several reasons. When I know I can’t perform as what I expected, it translates to my next focal review which will not meet my 7% target. I rejoined my ex-company in different department with the second time of salary raise to maintain the 7% rate.
  • I failed to start a business. I was once together with my wife and few colleagues planned to start a “comic bookstore” business. We did a lot of researches and we financially did not go for it. Starting a business is not as easy as I thought. It is not only time consuming but it requires a huge amount of capital. Maintaining a good relationship with your business partners is also another problem and needs to be managed well. For this experience, I realized that I don’t born naturally with business (not sure about internet business yet) and I don’t do well in sales too.
  • I discontinued my second income on giving 1-on-1 tuition service. I stopped doing this because I wanted to put more focus on the new job which I failed eventually also. However, what I did is conflict with my personal financial goal which is to build my second income. Then, why I want to stop? I shouldn’t have discontinued my second income.
  • I failed to exercise at least once in a week. I think in average I exercise once to twice a month. My target is once in a week only. Although I understand the importance of health, but I ignore it like the rest of you. This is my bad. Perhaps I should remind myself often that we need health to build wealth.
  • I failed to track my financial status monthly. 2 years ago my wife took an initiative to track our finance daily. So, I told her tracking it daily is very hard. Sooner or later you’re going to stop doing it. Guess what, I’m right. Few months later she gave up and I took over her job. I have a brilliant idea to track it monthly instead by monitoring our bank account expenses. I have been doing this successfully until the last September 2007 I stopped updating it monthly until today. Reason is "Lazy" and "Busy" - a very popular reasons. Perhaps I should just change it to yearly instead of monthly or I can set a check point at every six months.
This is what I did well and screwed up in past 2 years. I hope I’m not a loser because I have 5 items in my screwed-up list as compared to 4 items in my success list. The screwed-up list will be used to help me to define my 2008 and 2009 goals.

Time flies! Whatever, I'm here to wish you HAPPY NEW YEAR 2008!

12 Comments:

cheerfulday said...

actually your case similar to me.. I failed to perform in my new company and now I would like to change job.. sigh...

keeyit said...

A detail post on your achievement.

I wish I can be financially independent too.. BUT I dont think I can for now :(

Anyway, let's work together for a new beginning. Happy new year

Michael Tsen said...

about your last comment of budgeting style of financial planning, either daily, monthly or yearly ... it doesn't really matter. Budgeting requires disipline and not many ppl has that kind of discipline. Try the "Automatic" approach ...

kljs said...

Happy New Year!!

http://kennyljs.com/

niki yokota said...

Happy New Year 2008!!
may this year brings u tons of joy and success.
i didnt know that u are married. *sob*
that house is really gorgeous!
and comic book business is interesting. does it include manga?

ChampDog said...

@ Cheerfulday
Good luck,then! Remember to be prepared and confident before the interview.

@ Keeyit
Yeah, let's work together. When you got a master later, you will be one more step closer. :)

@ Mike
I think either daily, monthly or yearly, it is up to the individual. The purpose is to track "Where our money goes". Automated way is a good idea. I"m looking for it. Perhaps 70% automated will be good enough.

@ kljs
Thanks. Your blog has a lot of nice avatars. :)

@ niki
Happy Near Year!!! Are you going to create a new blog for 2008? I like the house, it is really awesome. Arr... Yes, I somehow not sure how exactly are married already. Yes, it includes manga.

cozuni said...

happy new year!!

{shellie} said...

i hope you stay positive and optimistic this year 2008 :) despite challenges and disappointments, i believe you can achieve your financial, health and personal goals in God's perfect time :) stay focus, committed to your goals, but most of all, stay happy :)

ChampDog said...

Hi Cozuni, thanks! Happy New Year to you too.

Hi Shellie, thanks for your advice.:) Yes, not to forget about stay happy. I do hope one day I can travel with sea turtle though.

kopidunia said...

Thanks for your comment on my blog and thank you for sharing your ups and downs. All the best for 2008!

Mariuca said...

Hi Champ Dog! So nice to see ur avatar on my page today! :)

And of course u're not a loser, try harder for the new year, all the best to u! :):):)

ChampDog said...

I'm happy that you're still remember me. Thank you and good luck to you too! :)


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