After a successful 2012 i have a few things i'd like to achieve in 2013:
1) Reduce cash balances towards my medium term target of 20% of total assets.
This will be challenging as i'm expecting a couple of lump sums of cash to come through in the first half of the year and my ability to invest will to some extent depend on the markets and any other investment opportunities that arise. Whilst my investment focus for the past couple of months has been primarily on high yielding ETFs, i may also consider alternatives including property. I don't expect to reach 20% in 2013 (barring any unforeseen investing opportunities), but i would like to continue to move towards this target.
2) Maintain investment discipline.
In the past i've had a tendency to make impulsive, short term investment decisions. My investment discipline improved a lot in 2012 with each new addition forming part of an intentional long term strategy. I would like to maintain this into 2013, with focus on value & risk management (including geographical, asset class & industry diversification).
3) Achieve a high savings rate.
Whilst 2012 was exceptional in this regard, a quick forecast of 2013 suggests a 60% savings rate may be achievable again. At a minimum this should stay above 50%. I will also continue to build on my expense analysis as recent months have shown that i have been spending less than forecast. As i believe the forecast amount is already sufficiently disciplined i will ring-fence any further 'under-spending' against this forecast as a fund that can be used on a more discretionary basis for unplanned luxuries.
1) Improve fitness.
I have a gym membership but my attendance dropped considerably towards the end of 2012. In 2013 i would like to reverse this trend and target a minimum of 3 visits a week. Along with exercise i need to improve my diet, in particular targeting less unhealthy takeaways and less chocolate.
As the logging of my investment decisions has proved successful in enforcing discipline, i might try the same trick with my fitness & devise some suitable metrics to monitor.
2) Improve work/life balance.
My workload increased in the second half of 2012 and this looks set to continue into 2013. Whilst i can't easily reduce working hours, i would like to stop work spilling into my life outside of work. In particular, i'd like to reduce the amount i think about work when outside of work, and this can be done by distracting myself with hobbies, interests & a social life!
Good luck to you all in your goals for 2013!