Friday, January 4, 2013

Happy New Year!

(1) Max out 401k(s) - $34,000 (100%)(goal is $34,000)
(2) Max out IRA(s) - $10,000 (100%)(goal is $10,000)
(3) Add to e/r fund - $10,000 (96%)(goal is $10,000)
(4) Pay down mortgage - $3,741 (75%)(goal is $5,000)
(5) House projects - $1,600 (32%)(goal is $5,000)
(6) Trading account fund - $3,105 (62%)(goal is $5,000)

Total - $62,446 (91%)

Happy new year to you and yours.

I've tallied our final numbers and I'm happy to report that we completed several of our 2012 savings goals.  First, we maxed out our tax advantaged savings opportunities by (1) maxing out our respective 401k plans and (2) maxing out our 2012 non-deductible IRAs.  Additionally, we added $3691 to Mr. Sam's work retirement account via his spillover election.*  And, as a result, Mr. Sam collected $4,823 in company match (the match monies are not captured in our savings calculation).

Additionally, we completed our goal to add another $10,000 to our emergency fund savings.  We also put money towards paying down our mortgage and towards our house project fund.

While, we fell about $6500 short on our 2012 goals I am pleased with our overall progress.  In addition to saving almost $62,500, we also refinanced our mortgage on our primary home (which will save us $180,000)  and we spent about $15,000 on Mr. Sam's certification classes.

How did you do on your 2012 personal finance goals?

*More on this spillover option here.

No comments: