(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) - $6900 (21%) (goal is $33,000)
(2) - $2200 (22%) (goal is $10,000)
(3) - $300 (25%) (goal is $1200)
(4) - $600 (17%)($7122 in our baby fund, goal is $10,000)
(5) - $1000 (14%)($26,163 in our emergency fund, goal is $32,000)
(6) - $3000 (100%) (Completed)
Total - $14,000 (24%)
Increase in progress due to Mr. Sam's bonus, 401k deductions applied to bonus so he is well ahead on his contributions for the year. We are about $2,900 ahead on our 2010 savings goals.
Random question... I think you mentioned in the past that your rental properties are historic... what are the challenges and benefits to owning historic versus non-historic properties, and what caused you to choose historic? (Example of a potential challenge: An experienced real estate invester depicted on a television program was preparing to remodel the historic home he had just purchased, only to find out that the project required approval by a local gov't agency... and ultimately his original plans were modified to accommodate their requests.)
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