Oscar and I decided to set our objectives with the in project management well-known SMART method. According to the SMART method, objectives should be:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-bound

On the one hand, this approach makes you really think about and define your own objectives you want to achieve and on the other hand, it also makes a lot of fun – especially the part “measurable” and “time-bound”. Below, every step of SMART will be outlined and the objectives will be part of “specific”.

Specific – what? who? where? why? which?

Questions to be answered to become specific about the objectives are “what? who? where? why? which?”. The more precise these questions and therefore “specific” is answered and described, the easier it will be to go through the rest of the SMART method.

what? - The Objectives

  • The luxury of time – become “rich in time”
  • Own unconditional basic income
  • Get up in the morning without setting any alarm
  • Doing projects because of loving them, not for income

who?

Nothing easier than that, only I, Mr. Top – the Student, and Oscar – the teacher. And maybe some of you, just joining the discussion or even entering the path and heading to the final result together.

where?

“Brave new world” – I would say anywhere.

why?

Just check the objectives – I would say reason enough. And maybe a little bit to show the world that there are also other means for living a sustainable and purposeful life.

which?

Do we have any constraints or requirements? Very often our belief systems are the major constraints, but this is a topic on its own. Requirements? I would say enjoy life and especially the path to freedom (and a decent internet connection might help as well ;))

Measurable – from and to?

  • Monthly spendings should not exceed 50% of the monthly net income after tax and health insurance

  • Yearly savings should be minimum 50% of the yearly net income after tax and health insurance

  • In 2018: no overall loss end of the year in trading activities (educational year)

  • From 2019: 15% to 25% yearly profit of capital allocated to trading (part-time trading besides a full-time job)

  • 2019 to 2023: a yearly average profit of 20% from capital allocated to trading

  • From 2020: 70% of savings is allocated to trading, 20% is allocated to long-term investments and 10% is allocated in a savings account (10% roughly represents spendings of one year)

  • From 2023: 20% yearly profit from trading represents roughly 1.4 times yearly spending needs

Achievable – how?

The objectives are achieved by the following actions and gathering experience and know-how in:

  • Accounting to find out where all the spendings are going, especially the “useless”
  • Creating a budget to get a feeling for and control the spendings
  • Establish a reasonable and sustainable spending habit
  • Improve and gain financial literacy in general
  • Learn how to trade successfully
  • Learn how to invest successfully
  • Taking joy and pride in what you do and not only the result

All things possible to learn with my own sweat and blood, with my own dedication. The good thing nowadays, one is not dependent on others… lots of resources to auto-educate oneself are available out there on the internet. The bad thing: Noone else to blame than yourself if it does not work out.

Relevant – worthwhile?

To reach the objectives is very well worthwhile – to become rich in time to pursue the projects one is burning for without the need to generate any income, just to live a perfect and happy life.

Time-bound – when?

The objectives are set, now it is time to work hard, take action and learn, improve and advance towards the final goal. Therefore, the main point in time is fixed to

15th of June 2023

To measure the progress, there are some major points stated “measurable” that shall be measured and these are also dated.

But with the above major fix point, all the objectives should be achieved and the day job could be easily quit as there is the own unconditional basic income.

Objectives to be reached by
15th of June 2023
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Final thought

This is actually the first draft of the objectives and the applied SMART method. Regularly, I will come back to this first draft and review it, improve it by making it more specific, by tracking the results and refining the objectives to be able to keep the final date. The only things given and fixed are

  • the 15th of June 2023
  • the own unconditional basic income available to quit the regular day job