(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $10,000
(4) Add to baby fund - $5,000
(5) Lasik surgery for Mr. Sam - $5,000
(6) Add to emergency fund - $10,000
Total - $73,000
(1) $5318 (16%)
(2) $9000 (90%)
(3) $462 (5%)
(4) $150 (3%)
(5) $0
(6) $0
Total - $14,932 (20%)
With our tax refund, we have done some catch up work but we are still about $3000 behind on our 2009 saving goals.
Friday, March 27, 2009
Tuesday, March 17, 2009
Taxes are done!
Our taxes are done
The bad news, we took a pretty big loss on our real estate investments this year. While all of our units are rented we have had to reduce our rent and we continue to put money into the properties.
The good news, we get a great tax benefit from the real estate investment losses. We are able to greatly reduce our tax burden and I'm happy to report we are receiving a $5000 refund.
Our tentative plan is to put $4000 of the refund monies stratight towards our 2009 savings goal, most likely Mr. Sam's IRA, and $1000 for whatever spending (which we don't do very much of). So we will each get $500 to spend as we like on whatever we like.
The bad news, we took a pretty big loss on our real estate investments this year. While all of our units are rented we have had to reduce our rent and we continue to put money into the properties.
The good news, we get a great tax benefit from the real estate investment losses. We are able to greatly reduce our tax burden and I'm happy to report we are receiving a $5000 refund.
Our tentative plan is to put $4000 of the refund monies stratight towards our 2009 savings goal, most likely Mr. Sam's IRA, and $1000 for whatever spending (which we don't do very much of). So we will each get $500 to spend as we like on whatever we like.
Friday, March 13, 2009
Lucky Friday the 13th
Between the expense of the mortgage refi and the car accident (rental car for a month), we've made little progress on our goals.
(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $10,000
(4) Add to baby fund - $5,000
(5) Lasik surgery for Mr. Sam - $5,000
(6) Add to emergency fund - $10,000
Total - $73,000
(1) $5318 (16%)
(2) $5000 (50%)
(3) $412 (4%)
(4) $150 (3%)
(5) $0
(6) $0 ($17,475 currently in ING e/r fund)**
Total - $10,932 (15%)
**Yes, we are going backwards on the e/r fund. If you followed my 2008 goal fiscal fitness journal, you'll note that when we closed out our 2008 goals we had $4098 more in our e/r fund than we do now. I won't count additions to our e/r fund until we are back up to $21,881.
(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $10,000
(4) Add to baby fund - $5,000
(5) Lasik surgery for Mr. Sam - $5,000
(6) Add to emergency fund - $10,000
Total - $73,000
(1) $5318 (16%)
(2) $5000 (50%)
(3) $412 (4%)
(4) $150 (3%)
(5) $0
(6) $0 ($17,475 currently in ING e/r fund)**
Total - $10,932 (15%)
**Yes, we are going backwards on the e/r fund. If you followed my 2008 goal fiscal fitness journal, you'll note that when we closed out our 2008 goals we had $4098 more in our e/r fund than we do now. I won't count additions to our e/r fund until we are back up to $21,881.
Tuesday, March 10, 2009
2009 IRA
One down and one to go. We have fully funded my 2009 IRA, we will now turn our attention to Mr. Sam's 2009 IRA.
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