Thursday, January 5, 2012

2011 Savings - Final Tally

(1) Max out 401k(s) - $32,749 (99%)(goal is $33,000) 
(2) Max out IRA(s) - $10,000 (100%)(goal is $10,000) 
(3) Add to e/r fund - $10,000 (100%)(goal is $10,000) 
(4) Pay down mortgage - $5,000 (100%)(goal is $5,000) 
(5) House projects - $2,314 (46%) (goal is $5,000)

 Total - $60,060 (95%) 

Overall, we are pleased with our 2011 savings performance.  We completed, in full, three out of five of our goals.  As for our 401k contribution, I maxed mine out and Mr. Sam almost maxed his out.  He fell $255 short on his contributions, but he also received a match of $5,545 from his company.  So, while we are not counting the match in our 2011 savings tally we are counting the 401k goal as completed. Comparing our savings in 2011 to 2010 we saved an extra $10,735 in 2011.

As previously discussed, most of that extra savings came from increases in our respective salaries and bonus money.  So in 2012 we will be looking at whether we can boost savings by reducing recurring costs (i.e. we already reduced DirecTv by $240 a year) and discretionary spending.

1 comment:

Anonymous said...

Nice work Sam and Mr Sam!!! I admire your discipline.