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Hope BossRighteous doesn't mind me getting this started a little early, but I'm setting up some of my financials tonight and figured I'd go ahead and document my goals by starting a new thread. Current Figures: 1-$12,000 in student debt (paid down from $75,000 starting in 2011), wife's was erased earlier this year via government forgiveness 2-$130,000 owed on $159,000 house (entering year 3 of 15). 3-2011 Honda Civic paid off, Traded down from my 2012 GMC Sierra earlier in the year to a paid off 2004 VW Beetle. Trimmed $21,000 in debt through the downgrade, but immediately had to shell out $3,000 for major repairs. 4-Contribute to match on personal 401k (6%) and wife's SIMPLE IRA (3%). 5-Contribute full $5,500 to personal and wife's ROTH IRA. 6-Give $200/mo to go causes ($50 to each: Wounded Warrior Project, Boys & Girls Club, Local Goodwill comparable, FISH Food Pantry. Goals: 0-Start a goddamned budget. We've done well with stuff in my head, but we're moving to a Ramsey-esque hybrid system. Cash only envelope system, credit cards left open and used only for Netflix. Track EVERYTHING via Everydollar. This will trim the excessive bleeding we've noticed on dining out (our big-time vice, contributes to our being out of shape). Setting this up while watching SNF tonight. Will be discussing freezing our credit per Clark Howard's recommendations. 1-Pay off remainder of $12,000 in student loans. Business is really tough at work, so bonus may not be coming through this year. Was roughly $5k last year. If it does, entirety will be placed towards student loans. Otherwise, should be about August. Monthly savings on student loans will immediately placed towards HSA investment savings. 2-Get PMI knocked off this year. Payments as usual will get pretty close to getting my LTV down to 78% by year's end, so this isn't really an effort goal. 3-Cash flow my MBA. Starting in Jan, first $2200 for tuition and books paid in full. Company will reimburse but require 3 year commitment, so I'll be saving each reimbursement in a safety account to pay them back if I decide to go somewhere else. Should be about $22,000 and 3 years to finish the program part time, so we'll say I'll need $7000 this year. 4-I'll be continuing to contribute 6% to my 401k and 3% to my wife's SIMPLE IRA to account for all matching funds. 5-We'll contribute fully to IRAs one way or another as long as we stay employed. I'm considering changing from ROTH to Traditional to save on taxes (D.I.N.K.s with side incomes e.g. Airbnb that we usually owe tax on). 6-Increase charitable contributions to more than 5% of take home, opening up to another organization or two. Stretch goal is 10%, but I just don't see that happening (yet). 7-Stretch goal-Cash flow a trip to an all-inclusive resort. I'm okay pushing this to 2017, but wife's been asking for a while now... (taken her to Europe twice in last three years). 8-Stretch goal-Start another side hustle. We've ubered, airbnbed, consulted on side, but I'm looking for something more permanent.
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Dec 14, 2015 01:40
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2016 Goals: - $53K into 401k (via mega backdoor Roth) - $20k into eventual house down payment fund - $6k to max out family HSA - Cross $755k in total savings (retirement and non-tax advantaged) - currently at $690k... this will be a stretch - Increase gross income from $183k to at least $220k (lost an income from last year dropping us from $255k to $183k) Assuming ~$200k in income, this will be: ~$60k in taxes ~$72k in spending (total, all in) ~$53k in retirement ~$15k in other savings app fucked around with this message at 05:22 on Dec 14, 2015 |
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Dec 14, 2015 05:11
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Hopefully I do a better job in 2016 of sticking to goals than I did in 2015, though I don't imagine another engagement and house purchase. Omne's 2016 Financial Goals 1. NO. WEDDING. DEBT. We have our budget and have done a fairly good job of sticking to it. We are paying cash, and by ourselves without any other assistance. We are currently on track to cover our remaining payments by the wedding date (4/16/2016). 2. NO. NEW. DEBT. PERIOD. This means any other loans or credit card balances. I pay off my CC's every two weeks or so and will continue to do so 3. Pay off smallest student loan ($1987.32 current balance). This has a 5% interest rate but is paid quarterly. My other two loans are much bigger ($14500 @4.25% and $14000 @6.8%) but it'll be an emotional boost to knock this out. 4. Increase personal emergency fund to $10k (Current balance: $6900). 5. Stretch Goal: Pay down the 6.8% student loan to under $10k With continued wedding/honeymoon savings necessary through the end of June, goals #3/#4/#5 will be more on the second half of the year. We should get a decent tax return, the company bonus in July and a merit increase in October, which will help with all of this. I estimate we will need an additional $2500 each for the wedding, on top of the $5k each we have already saved, plus $3k each for the honeymoon. So $5500 saved in six months. Difficult, but not impossible.
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Dec 14, 2015 16:54
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2016 Financial Goals: #1 - Under no circumstances have children. Stretch goal: Don't have a house either. #2 - Make $100,000 from primary side business (revenue, not profit). Stretch goal: $200,000. #3 - Make secondary side business fully self-sustaining and turn no less than $1,000 in profit. Stretch Goal: N/A #4 - Do one stress-reduction activity each month (massage, art therapy, whatever). Stretch Goal: N/A #5 - Have $50,000 in my primary savings account by end of the year. Stretch Goal: Have $100,000 in my primary savings account by end of the year.
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Dec 14, 2015 17:00
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2016 goal: Be worthless*  *$24,400 combined debt repayment/savings and I will have a net worth of $0. Last year I think I put a little too much E/N and too many numbers in to my first post. And I changed my focus a few times mid-year. This year, my goals are a little more clear. Until I lose my 0% APR on my credit cards, I have around $3,000 a month income to play around with, with few expenses. In order that I believe I can complete them: 1. Max out 2015 Roth IRA. (Mid-April) 2. Pay off my $8,800 @ 7.29 car loan. At that rate, I would get this done first, but have to meet the April 15th deadline for the IRA. I'll still knock it down by a lot before concentrating on the IRA, then resume paying it off. (May) 3. Pay off $4,000 credit card debt before the introductory 0% APR is up. $1,000 in October, rest at the end of 2016. (Technically, mid-January) 4. Max 2016 HSA. ($2,850 due to $500 employer contribution) (By last paycheck of year) 5. Stretch goal: Pay down student loans by $18,750 to only have 3.15% interest loans. (Leftover) That's $21,150 not including the student loans, or $813 of my $1,400 paycheck. Even if I only start hacking away at my student loans, I'll be quite pleased. Non-monetary goals: 1. Complete CPA 2. Get new job with CPA qualification.
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Dec 14, 2015 23:29
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Sure, I should start setting goals for this sort of thing. 2015 was a bad year to be my bank account thanks to a move and a wedding, so I should at least get some of my ambitions in writing. Current standings approximated off the top of my head: -- $7250 in student loan debt (graduated 2010, two combined loans at 5.6 and 6.8% interest, 25:75 distribution between the two) -- $16700 in an auto loan (purchased 2014, 3.1% interest) -- $5000 owed to parents from wedding payments (married this past summer) -- $1800 in miscellaneous debts (credit cards but also an old dental bill?) -- $56k pre-tax salary; also earning essentially an extra paycheck each month from freelance work Goals for the end of 2016, in no particular order: 1. Completely pay off that miscellaneous category. 2. Finally move my 401k from my previous employer over to my new one. 3. Pay 25% of my current student loan debt back into it. Stretch goal of 30%. 4. Cut the money owed to my parents in half. 5. Save up $2000 by next fall. My wife is from Thailand so we are going to do another wedding over there at the end of the year, her parents are covering it but I want to at least pay my own way (this is also why I want to pay my parents back as quickly as I can, since they would be flying out there as well). 6. Start contributing to our joint savings account. We put all of our wedding money gifts into a new savings account but haven't really added to it since. I'd like to put in $100/mo but we'll see what I can spare. 7. Hit at least $650/mo in my current side job. This amount would cover #s 4-6 with a little extra money left over. Things that would be nice to do: 8. Merge back accounts with my wife. 9. Save up for a new computer. My laptop is five years old this month (bought with one of those credit cards I'm still trying to pay off!  ) and really starting to show its age.10. Set up actual budgets for both myself and my wife. 11. Take a trip somewhere. My wife and I skipped out on a honeymoon but we said we would take a trip this coming spring for her birthday to make up for it. Due to her green card application it'll have to be somewhere in the U.S., which should save us some money. 12. Get my wife a job. Getting her out of her postdoc and into a job in her field would nearly double her income, and would free up a lot of breathing room for me to knock down my debts. That might be too ambitious (I even took a couple things off of my initial list) but dammit I'm going to take a real stab at it. I'd say the biggest thing is getting rid of that misc category, having three fewer bills to pay each month would be a boon to both my financial peace of mind and the amount I can put towards some of these larger debts. We are finally all set up in our apartment and not moving or paying for a wedding in 2016, which will leave me some extra money each month to finally get my poo poo in order. Suggestions? I have never done something this comprehensive before, if you couldn't tell. E: Cut some explanatory fluff. C-Euro fucked around with this message at 03:52 on Dec 17, 2015 |
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Dec 15, 2015 01:23
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KGJr Goals 2016 Edition Still have weird cashflow, so some goals to be executed by Jan 1 2016, the rest during the year. I need to be more accountable to my year end goals. Before Jan 1 Pay off car completely, $8,625 @ 4.2% Put another $8,000 in emergency fund Put $10k towards house down payment Save $4k for vacation During 2016 Max 401k to take advantage of absurd match - $18k. I have set my contribution amount to support this. Save $6k towards house down payment Don't move out of current apartment while keeping rent increase under $100/mo Don't get married / have kids Take a cool vacation
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Dec 15, 2015 15:02
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2016, here we loving gooooooooooooo Before EOY - close out my business account and switch back to sole proprietorship - switch health insurances - add dental insurances 2016: The Year of Simplifying poo poo - roll over old 401k into my Vanguard 401k - close out Chase accounts and move to Union Bank - after taxes, move what's left into taxable investing account at Vanguard - close out money market fund account - get mortgage autopay set up - do weekly reconciliations in Mint to classify business expenses - keep profit/loss spreadsheet updated monthly Stretch Goal - hit $1M net worth Non-Monetary Goal - get knocked up
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Dec 16, 2015 04:31
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moana posted:Non-Monetary Goal Good luck in loving up your finances with a bundle of joy  My sister just did this and it's rad as hell.
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Dec 16, 2015 06:08
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In order of importance, I'd like to accomplish the following by the end of 2016: -Max out my 2015 Roth IRA. I'm at $1000 right now, so I'll need to get in $4500 more by mid-April -Max out my 2016 Roth IRA. -No new debt -Contribute $3000 cash to my emergency fund -Pay off my $2750 0%APR balance transfer Chase Card (promo expires 2/17, but I'd like to clear it up by the end of the year). -Pay an additional $100 per month on my car loan. Current balance is $8180 at 2.75%; monthly payments are $250 Beginning Jan 1, I'll be making 25% more than I was this time last year, and it's time to break some bad habits and put the extra money to good use. I want to set myself up to start contributing a much larger portion of my salary to my 401K in 2017, as I'm currently contributing just enough to get the max match (I put in 3%, and my employer puts in 6.75%). il serpente cosmico fucked around with this message at 17:44 on Dec 16, 2015 |
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Dec 16, 2015 08:36
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- Secure some credit (2 cards + HELOC or better) as a safety net for possible job loss - Save first $2k (have been lousy at saving, currently at $400) - Be employed for 10 months of 2016 - Implement a more reliable system for paying all bills on-time (has not been a problem, but is a risk) - Fund a trip somewhere without dipping into credit - Pay off car early ($5,300 remaining) - Home upgrades (sky light, solar) - Increase retirement savings to above the match level (I'm way behind) - Get a bachelor's degree (so I can advance at work) This is the first time I'm doing financial goals, and it's showing me that I have more spending goals than my current budget can support (as evidenced by lack of savings). ...by a lot. The good news is that if I stay employed and continue to reduce bills here and there, some of this will be a slam dunk. The sky light and solar have low out-of-pocket costs, and I'm still able to get credits at community college for 2 terms before I have to shell out real college costs. The trip doesn't have to be crazy (Hawaii in April?). Paying off the car early may have to happen only if I get a bonus at work. It's an idealistic set of goals, but I think a lot of this can be done if I put it in a spreadsheet and save on the front-end of every paycheck.
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Dec 16, 2015 09:38
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porkface posted:- Secure some credit (2 cards + HELOC or better) as a safety net for possible job loss I'm a little worried that your hedge against job loss is acquiring two credit cards (with interest rates of 15% at best, I'd imagine) rather than aggressively saving for an emergency fund that you keep in a low-risk place like a savings account.
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Dec 16, 2015 14:34
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Some of you have some seriously complicated financial goals. My turn! Goals for 2016 Figure out how finances work with a new baby (Just found out wife is pregnant) Get good renters into new rental home Pay off credit card balance Save $10k for emergency fund (more than half way there already) Pay off wife's car Purchase a second rental house Figure out how finances work with a new baby!
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Dec 16, 2015 16:02
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Why are you buying a second rental home with a very low emergency fund total, several debts, and a new baby that hasn't yet been budgeted for?
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Dec 16, 2015 17:06
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Nail Rat posted:Why are you buying a second rental home with a very low emergency fund total, several debts, and a new baby that hasn't yet been budgeted for? Bad answer: Because I'm bad with money and have no concept of financial responsibility. Good answer: I didn't include it in my post but the list is in order of priority. Buying a second rental home is pretty low on the list and won't happen until the other things are squared away. And to answer the possible follow-up question, we had an emergency fund of $8,000 and growing every month then had an emergency while in the process of purchasing our first rental property. Would have been absolutely screwed if we hadn't had the emergency fund we did but I'd like to get it back on track again in 2016.
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Dec 16, 2015 17:48
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TouchyMcFeely posted:Figure out how finances work with a new baby (Just found out wife is pregnant)
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Dec 16, 2015 18:48
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I only have 2 goals this year: 1)Pay off my student loan, I only owe 4200 still and it should be done by May 2)Pay off our unsuccessful IVF treatments. While we do get tax credits for that due to our pension contributions they are useless.
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Dec 16, 2015 18:53
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Okay, in for another year! I blew my 2015 goals away kind of easily, so I think I need to set my goals a little higher this year. I'm turning 26 this year, and that means no more mooching off my parents' insurance, so things are gonna get a little rougher! Here's what I've got: DESIRED ACCOMPLISHMENTS: - Increase gross income to $[redacted]k ($[redacted+10k] with reimbursements). - Put $10,000 in 401k (edited down from $15,000 12/30, I'm looking for new, more expensive, but more tenable living arrangements) - Max ROTH IRA. - Take and pass the EIT exam. - Move to a place closer to work while keeping my total housing expenses under $1.3k/mo. - Take a dang vacation without feeling guilty. - Stay the hell outta debt. - Finish 4 more classes with Bs or better for that sweet sweet free education  ONGOING GOALS: - Date without breaking the bank (subjective). - Limit alcohol spending to $30/month. - Limit video game spending to $25/month. - Limit Fast Food to 1 Purchase per month. - Keep constant on YNAB -- 18 months and counting! STRETCH GOALS: - Max out 401k - Put another $10,000 towards general savings (house in 2017? We shall see) - Reach $[redacted]k net worth - Keep my 4.0 GPA Not a Children fucked around with this message at 14:37 on Jun 2, 2016 |
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Dec 16, 2015 21:05
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Simpler goals this year due to not needing to move and not needing to get married: -Max 401k. -Max my and my wife's IRAs. -Max my HSA. -Pay off personal loan I took out to sell the underwater condo(we'd be 100% debt-free after this!). -Add 2,000 to emergency fund. stretch goal: -Add 5,000 to house down payment fund (this would be the start of said fund, at the very end of the year). If we do this, net worth should move from 61k to 120k(assuming the market goes neither up nor down, which will not happen). Nail Rat fucked around with this message at 16:32 on Dec 18, 2015 |
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Dec 16, 2015 22:42
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moana posted:Congrats and good luck with figuring out the baby thing (like pig slut lisa said, it's a good way to gently caress up your finances!) I like keeping a big cash fund in case the market tanks and you get a great deal on a second rental. But yeah, other than that happening, don't mess up your life even more by adding in too many stressors! Thanks for the well wishes. We're both really excited and really terrified about starting a family in our mid-30's but mostly excited. The rental(s) are part of a long term plan to try and transition away from our jobs and try to live a bit more independently. I have a well paying job that requires I travel way more than I'd like (especially with a kid on the way). What I'd really like to do, if I can get the boss to approve it, is to purchase an RV and just drive everywhere while building up a little group of rental homes. Even if I kept the job at least we could be together, travelling around the SW desert, which would be amazing. One thing at a time though. Have to get this rental squared away then we can figure out step two.
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Dec 16, 2015 23:27
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- Get a credit card (sheesh, that should be a remainder of 2015 goal) - Increase net worth by 100k - Roll all my old retirement accounts together into a regular IRA (401k #1, 401k #2, SIMPLE IRA) while maxing a new one - Come up with and act on a better investment portfolio than "SPY and cash" - Complete machine learning course + 1 personal project in hopes of inspiring future career opportunities Jeffrey of YOSPOS fucked around with this message at 23:37 on Dec 16, 2015 |
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Dec 16, 2015 23:32
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Well after an interesting 2015 I am ready to get back into some really good financial goals. Goals 1) Pay off ex's student loans (part of my divorce stuff). This is about $23,000. 2) Pay off my student loans. This is about $3,650. 3) Increase 401k contribution by 1% after raise in March, 11% of gross plus 4% match. (I might just do this even if I don't get a raise) 4) Purchase trip to Bald Face Lodge in 2017 for my 30th birthday, it will cost about $4,000 but completely worth it. Hopefully I can get some peeps to go with. 5) Sell or be bought out of my house and move closer to work, should net between $30-40K for my share baring a huge crash. Stretch Goals - Based on the house sell or buy out 1) Max out 401k. 2) Pay off my car. Approximately $11,500. Non-Financial Goal 1) Move in with my awesome girlfriend.
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Dec 17, 2015 02:38
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Monetary Goals: Increase salary by 10% Reduce car commutes by 20%, replace with public transit or bike. Grow portfolio by 10% Increase monthly savings from 20% of salary to 30%. Stretch goals: Increase salary by 20%. New, better job closer to home so I never need to take the god damned car. Other goals: Become a boss at open water swimming on the company dime. Have a net surplus on the happiness account. Delete Facebook account. Potrzebie fucked around with this message at 07:31 on Jan 15, 2016 |
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Dec 17, 2015 18:00
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All of these upcoming babies and planned babies! Congrats and good luck to everyone. As for me, I used to have financial goals until our daughter arrived in May. Then they were put on hold because I've decided to stay home with her for a bit. So my goals are very simple. 2016 goals Before January 1st: Get YNAB ready (hasn't been touched since May). After January 1st: Do YNAB every month Max Roth IRAs Max husband's 401k Max Coverdell ESA Stretch goal: 800K net worth ETA: babby hit post Baja Mofufu fucked around with this message at 18:28 on Dec 17, 2015 |
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Dec 17, 2015 18:25
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Baja Mofufu posted:All of these upcoming babies and planned babies! Congrats and good luck to everyone. I feel like I should update my post to say never have a baby, ever, ever, ever, ever, ever, ever... ever...
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Dec 17, 2015 19:26
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spwrozek posted:I feel like I should update my post to say never have a baby, ever, ever, ever, ever, ever, ever... ever... One day, when you least expect it; baby will have you!
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Dec 17, 2015 21:26
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I wish a baby was in the cards in 2016...my fiancee is a bit older than I am (39) so the clock is very much ticking on that. But between the house, the wedding and other stuff, I think getting pregnant might make her explode at this point.
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Dec 17, 2015 22:41
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There's no deadline on adoption.
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Dec 18, 2015 01:26
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Also, don't let finances prevent you from a baby. If you do, you'll never have enough to feel comfortable or that "it's time". That's what I'm told, at least. I think my wife and I may start trying next year, but that remains to be seen [we admittedly had a hard goal of having all student loans paid off prior to trying].
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Dec 18, 2015 03:07
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1) Increase my current net worth from $162,000 to $200,000, with a stretch goal of $225,000. 2) Maintain $50,000 in my checking account at all times. 3) Maintain and adhere to a strict budget. 4) Max out HSA, 401K, and Roth IRA Keeping it simple this year.
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Dec 18, 2015 04:43
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The Experiment posted:2) Maintain $50,000 in my checking account at all times. I'm honestly curious why one would want that much in their checking account at all times.  Edit: Not thread-making GBS threads, honest. Just curious.
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Dec 18, 2015 04:52
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The Experiment posted:2) Maintain $50,000 in my checking account at all times. Eh...not smart. If your debit card gets stolen, you're hosed. And you could be making interest off the money in a online savings account. Unless you have $25,000/month expenses, then disregard. Only keep like 3 months expenses max in your checking account.
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Dec 18, 2015 05:58
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KYOON GRIFFEY JR posted:KGJr Goals 2016 Edition edit: back of envelope net worth feels OK now: $29k various savings incl efund $17k IRA $60k 401k $1.5k in brokerage Car worth at least $15k and paid off. KYOON GRIFFEY JR fucked around with this message at 16:17 on Dec 18, 2015 |
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Dec 18, 2015 16:13
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Quick status check: Salary: $65,000 Emergency Fund: $4,000 Debt: ~$27,000 (student loans, 2-5%) Retirement: ~$4,800 (roth) Goals: 1. Max out Roth IRA contributions for 2016 (so, $5,500). 2. Increase emergency fund by $4,000. 3. Decrease debt by $6,050. 4. Complete 4 more computer science classes (paid for by my company). 5. Do not change jobs or quit taking classes. 6. Save for travel to two weddings in April and October ahead of time. 7. Save for a deposit on a new apartment and (if we're both ready), move in with girlfriend.
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Dec 18, 2015 17:04
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Nail Rat posted:There's no deadline on adoption. There kind of is, especially some international ones. Also get ready to have 50k in the bank.
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Dec 18, 2015 17:16
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I'll get in on this. In priority order on gross salary of about $90k: 1) Get emergency fund up to 10k (adding 6500) 2) Resume (and max out) 401k/TSP contributions 3) Pay off approx $8700 of unsecured loan (at 3%) 4) Get at least $5k saved up for wedding (stretch goal: $10k) Doing all that and making regular payments will leave me with about 12k of student loans to deal with in '17. Also, continue paying off car, but it's at 0% so whatever, no rush. E: also, Dead Pressed, to get all up in your bizness--please give that $50 to, like, any vets charity other than Wounded Warrior. They're not quite the Susan G. Koman of vets charities, but they're not good. They really like to sue other, smaller charities that use "wounded" or "warrior" in their name. overdesigned fucked around with this message at 13:20 on Dec 21, 2015 |
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Dec 18, 2015 17:57
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sbaldrick posted:There kind of is, especially some international ones. Tell that to my in-laws, who adopted an infant while they were in their loving 60s.
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Dec 18, 2015 20:24
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2016! YES! A Year for optimism. Forced optimism, mind you. There's plenty of emo bullshit that nobody wants to hear, so let's get to the checkpoints (not necessarily in any particular order): 1- Max out 401k and 457 2-Max out both IRAs 3-Pay down car loan... WAIT WHAT? Yeah, my wife got a new car. She was tired of leasing (which I had said for a decade was a bad idea) but she kind of went at it in a wonky way and welp, brand new Rav4. $20k  I'm looking to get rid of the whole shebang as quick as possible, but the rate is 2.69% so I'm not trying to liquidate the taxable fund.4-Continue funding 529 5-Pay down the mortgage by an extra $15,000 Stretch of a stretch (because the endgoals for #3 and #5 are stretches themselves) - somehow manage to do all of this AND minimize the tax refund to under $1000
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Dec 19, 2015 02:34
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I was able to complete almost all of my 2015 goals. The one I wasn't able to do was to get to step 4 of YNAB. I will be trying again this year for that. I didn't get a new job at a new company but I was able to transfer departments and get a much larger salary than I was making before. For sanity reasons and monetary reasons that was by far the most successful thing I did in 2015. 2016 Goals: -Continue to max my Roth IRA -Increase my 401k contribution -Add $5000 or more to my taxable investment account -Get married without going over budget -Use Mint/YNAB/whatever to stay on track financially Stretch Goals: -Hit 100k in investable assets -Get my fiance to start contributing to a Roth/increase her 401k contribution
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Dec 19, 2015 15:07
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Seeing everyone's goals is so inspirational! Also, the improvement in my financial habits has influenced two of my close friends to save better. Current status: - Age: 27 - Salary: $42,885 - CC debt: 0, except for what I use for 5% cash back and pay back every month - 401k: Vested in ~$25k, ~$28k total - Roth: $5100 - Emergency savings: $900 in my checking. Yikes. - Car down payment savings: $1500 in Ally Bank. Also yikes! Now that I trust myself to handle money more responsibly, I'm shifting focus from retirement savings to emergency savings and car down payment savings (my Toyota Yaris is only five years old, but it is already at 92k miles and I want to be prepared just in case). My savings goal are: - $300 of my paycheck in emergency savings (so I should have $4800 for emergency savings by the end of June including the $900 I now have) - $200 of my paycheck in car down payment savings (so I should have $4100 total in Ally by the end of the June, including the $1500 I now have) - 6% every paycheck to 401k, $30 every paycheck to Roth IRA. I will increase this if I notice that I haven't reached my emergency savings goals, because clearly it will mean that I can't trust myself with money and need to hide it from myself by putting it in retirement accounts. I don't anticipate this happening. - Increase my income somehow--by getting a promotion, or a new job, or training, or something. If I stick to this, I'll be set up pretty well to handle emergencies by the end of the year. Then next year I can focus on retirement savings and saving for medium term goals such as travel.
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Dec 20, 2015 16:47
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