Saturday, January 22, 2011

2011 Goals - First Report

(1) Max out 401k(s) - $1,716 (5%)(goal is $33,000)
(2) Max out IRA(s) - $4,000 (40%)(goal is $10,000)
(3) Add to e/r fund - $800 (8%)(goal is $10,000)
(4) Pay down mortgage - $415 (8%)(goal is $5,000)
(5) House projects - $0 (goal is $5,000)

Total - $6,931 (11%)

I have my 401k contribution set up so that I will hit $16,500. I think Mr. Sam's is also set right but I need to follow up next pay period to confirm. I have a $400 auto transfer to savings twice a month for the emergency fund which totals $9600, will just need to add a bit here and there to complete that goal. I have an auto payment set up in the amount of $415 for principal prepayment which totals $4980, will just need to add a bit at the end.

As for funding IRAs, I normally fund by throwing all extra cash at them early in the year. And since I had ignored our finances for 45 days, we had extra money in our accounts so I scraped that all together and I've already put $4,000 into my 2011 IRA.

I've got nothing set up for the house project account, I'll have to think about that one.

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