Edmond's Personnel Strategic Planning
Vision: Develop a long-term strategy to manage and control my personnel financial.
Mission:
To have USD$1,000,000 worth of assets/ money by 2016.
SWOT:
- Strength:
- Have a stable job and income.
- Positive track of record in stock market investment.
- No bad credit history.
- Weakness:
- Poor accounting background.
- Poor Financial control and tracking.
- Opportunity :
- Studying CALMAT MBA
- Investment in stock market, bonds, funds and property (new) - house prices are declining recently, so I should save money and invest in property that may bring 150% to 200% ROI.
- Business venture
- Threat:
- Tax rate is high for a foreigner like me in US.
- Unstable global financial market.
Strategies:
- Develop & implement a monthly and annual budget tool to keep track my financial status.
- Save 25% of my salary for investment and build a monthly emergency fund – 5% of my salary.
- Establish good credit history in USA.
- Venture into business after completion of MBA studies by Dec 2010.
- Market survey, financial studies and up to date article readings as part of the financial environment scanning for opportunity.
- Develop a roadmap or plan to become a US Dollar millionaire by 2016.
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