First two goals for 2010 will likely remain the same:
(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
Subtotal - $43,000
And since we likely will not complete our other three 2009 goals, by the end of 2009, we likely will carry them over to 2010.
(3) House project and furniture - @$4600
(4) Add to baby fund - @$3500
(5) Add to emergency fund - @$7300
Subtotal - $58,400
New goal:
(6) Pay down mortgage on primary home- $2400
Total - $60,800
We have been talking about wanting to pay off our mortgage and I have asked Mr. Sam to whip up some handy Excel charts to document various scenarios. If we paid an extra $200 a month (going forward) we would have our mortgage paid off in 20 years vs. 24 years. An extra $500 a month would allow us to pay off our mortgage in 15 and a half years. An extra $1350 a month would allow us to pay off our mortgage in 10 years (wowzer!).
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