In late breaking news, I got notice the other day that my application for additional life insurance thru work was approved. So now, I’m officially worth a million (if I croak, of course), and can cross off #4 on my 2009 New Years Resolutions. (A little late I know, but it’s not too far from New Years Eve!)

Here’s how I did last year:

  1. Pay off car ($3,978) DONE!
  2. Pay off Citibank and close ($8,880) DONE!
  3. Pay off Advanta and close ($10,358) FAIL – Still working on – $4100 left
  4. Close Costco Amex Business in February DONE!
  5. 800 Credit Score with all 3 Bureaus FAIL – This one may never happen
  6. $1 million in life insurance DONE!
  7. New house in the Spring DONE!
  8. Start using an accountant for all personal/business tax needs FAIL
  9. Update my trust to current assets/wishes FAIL
  10. Scan all financial info paperless filing system (put into Evernote)FAIL (About 3/4 complete)

Looks like I got a 50% for the year. Not too great if you’re grading me, but the weighted average would look much better, as paying off debts, getting adequate life insurance, and buying a home are much more important than my credit score. An accountant is a “nice to have” but not critical.  The biggest failure is not updating the trust, which could be a huge issue if something were to happen to me (read International crotch bomber incident here).

But paying of $19,116 is nothing to slouch at – especially since I was unemployed for 6 months. There’s no way we would be where we are today if it wasn’t for the extreme amount of debt that we’ve ridden in our lives the past few years.

2010 Goals havent’ been posted yet, but basically include the final chapter of debt in our lives. We’re going to get rid of the remaining debts left, put $30,000 in the bank for an Emergency Fund, and be in the position to start funding our retirement with 15% of our gross income by the end of the year.

Teamwork is an amazing thing!