I ended 2006 with some good returns on my latest stock picks. I had mentioned selling Google (GOOG) when I was up over 21% and I sold Goldman Sachs (GS) today being up just over 18%. My plans for the new year are to make at least 10% per quarter on both of my accounts.
Yep I said per quarter, which means that if I make my goal I should get a 46% or so return for the whole year. Definitely aggressive, but I’m dedicated to achieving it and sticking with it. Even if I only do half as good as my goal, I would still beat the market by quite a healthy margin, and that I like.
The downside is that I really won’t be able to fund these accounts this year. My main account is an IRA and I’m already putting in as much as I can afford on my 401(k). If it weren’t for the employer matching I wouldn’t bother with it, but you can’t beat the built in 50% gain on your money, as long as it doesn’t lose any money that is. I’m not as hurray about the tax savings as I have the potential to make more than the savings by doing my own investing, but hey it doesn’t hurt.
We are also setting lofty goals for reducing our debt and increasing our savings. If all goes well we will have all of our credit cards paid off and have our first goal for an emergency fund achieved this year.
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As far as I understand from the chart you have $2,200 of debt on your credit cards. You have to be a very sportsmanlike person to go into stock market with debt. Isn’t it a good chance to lose money instead of making it?