Friday, September 10, 2010

Updated September Numbers

(1) Max out 401ks - $33,000
(2) Max out IRAs - $10,000
(3) Prepay mortgage - $1200
(4) Add to baby fund - $3500
(5) Add to emergency fund - $7000
(6) House/Furniture fund - $3000
Total - $57,700

(1) - $20,014 (61%) (goal is $33,000)
(2) - $10,000 (100%) (goal is $10,000)(Completed)
(3) - $900 (75%) (goal is $1200)
(4) - $2944 (84%) ($9244 in our baby fund, goal is $10,000)
(5) - -$3261 (-47%) ($21,147 in our emergency fund, goal is $32,000)
(6) - $3000 (100%) (Completed)
Total - $33,597 (58%)

Following up on my last post, here are the updated numbers for September. We are $6300 behind on our goals, which includes the $5000 we moved into a trading account. We will have to work hard to rebuild our emergency fund by the end of the year.

1 comment:

Anonymous said...

Sam, I really enjoy your blog, keep it coming, it always causes me to double check my strategy. This month we opted to take $5k from our emergency fund to "invest" in a new furnace. With this being the last year of the $1500 federal tax credit and the rebates available about 1/2 the cost is covered and the efficiency over our current 20+ year furnace should payback the rest over just a few years time. To replace the savings, I will eliminate a month or two of extra mortgage principal payments. In fact I am revisiting my strategy to make extra mortgage payments.

Interesting decision you made to pull emergency funds to "play" the market. Recent studies have shown women to be better investors then men because they tend to be less aggressive and stay longer in their picks. My wife has little interest in our finances, I also have an MBA but choose to keep the next level of our non-tax deferred savings in an Index fund for its low cost, tax efficiency and diversification. Its what I tap for "other" investments or if the emergency funds needs more help. Let us know how it goes for him.

Fan of Sam.