2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13881 ($21,881*) (Progress - 139%)
(4) $5108 (Progress - 102%)
(5) $10000 (Progress - 100%)
Total: $50,000 (Progress - 100%)
* Our emergency fund already had $8000.
Now we're really done. We saved $50,000 this year for our various goals. We fell short on the 2007 IRAs but otherwise we completed all of our other goals and our overall goal to save $50,000.
Now what do we do? Well we're going to put $2250 towards the principal of our mortgage and we are probably going to buy some additional stock before the end of the year. Otherwise we are going to start working on our 2009 yearly budget and our 2009 savings goals and we are going to enjoy a stress free Christmas and holiday season.
Cheers!
Thursday, December 4, 2008
Thursday, November 20, 2008
Done
2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $10000 (Progress - 100%)
Total: $49,281 (Progress - 99%)
* Our emergency fund already had $8000.
Technically, we are done with our 2008 goals. We have finished funding Mr. Sam's 2008 IRA and therefore at this point don't have any goals left to work on for 2008. Now technically we have not yet saved the full $50,000 so we need another $700 into savings before the end of the year. At present, I'm planning to use the $4000 that didn't make into Mr. Sam's 2007 IRA to pay about $2000+ extra on our primary home mortgage and the other $2000 to kick start our 2009 goals (2009 IRAs) or I may use that $2000 to buy more stock this year outside of tax advantaged plans. Thoughts are welcome.
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $10000 (Progress - 100%)
Total: $49,281 (Progress - 99%)
* Our emergency fund already had $8000.
Technically, we are done with our 2008 goals. We have finished funding Mr. Sam's 2008 IRA and therefore at this point don't have any goals left to work on for 2008. Now technically we have not yet saved the full $50,000 so we need another $700 into savings before the end of the year. At present, I'm planning to use the $4000 that didn't make into Mr. Sam's 2007 IRA to pay about $2000+ extra on our primary home mortgage and the other $2000 to kick start our 2009 goals (2009 IRAs) or I may use that $2000 to buy more stock this year outside of tax advantaged plans. Thoughts are welcome.
Friday, November 14, 2008
Almost Done
2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $9500 (Progress - 95%)
Total: $48,781 (Progress - 98%)
* Our emergency fund already had $8000.
Almost done, $500 left to go on goal #5 and $1219 left to go on Total Goal.
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $9500 (Progress - 95%)
Total: $48,781 (Progress - 98%)
* Our emergency fund already had $8000.
Almost done, $500 left to go on goal #5 and $1219 left to go on Total Goal.
Monday, November 10, 2008
2008 Goals
2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $8500 (Progress - 85%)
Total: $47,781 (Progress - 96%)
* Our emergency fund already had $8000.
We continue to be on track for wrapping up our 2008 savings goals ahead of schedule. Once we finish funding Mr. Sam's 2008 IRA, I think we will start putting aside money for our 2009 IRAs since we only funded my 2007 IRA (see goal #1). Otherwise, I have diverted the auto savings for the baby account (see goal #4) to our house account to fund a new sofa next year.
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $13173 ($21,173*) (Progress - 132%)
(4) $5108 (Progress - 102%)
(5) $8500 (Progress - 85%)
Total: $47,781 (Progress - 96%)
* Our emergency fund already had $8000.
We continue to be on track for wrapping up our 2008 savings goals ahead of schedule. Once we finish funding Mr. Sam's 2008 IRA, I think we will start putting aside money for our 2009 IRAs since we only funded my 2007 IRA (see goal #1). Otherwise, I have diverted the auto savings for the baby account (see goal #4) to our house account to fund a new sofa next year.
Sunday, November 9, 2008
Changes
We have had some changes in our salary payment schedule. I am now receiving my salary every two weeks and Mr. Sam is now receiving his salary twice a month (15th and last day of the month).
I am very much in the habit of paying our bills on the 1st and the 16th of each month and the change in our salary payment schedule has thrown my system out of whack. I find myself either paying our bills early (today is the 9th and I just paid our bills that I normally pay on the 16th) or I hold my salary in my checking account for a week or so until the 16th or the 1st. But holding my salary in my checking account undermines our allowance system because for a week or more I have all kinds of extra money in my checking account.
I am very much in the habit of paying our bills on the 1st and the 16th of each month and the change in our salary payment schedule has thrown my system out of whack. I find myself either paying our bills early (today is the 9th and I just paid our bills that I normally pay on the 16th) or I hold my salary in my checking account for a week or so until the 16th or the 1st. But holding my salary in my checking account undermines our allowance system because for a week or more I have all kinds of extra money in my checking account.
Sunday, November 2, 2008
Ahead of Schedule
2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $12865 ($20,865*) (Progress - 129%)
(4) $5108 (Progress - 102%)
(5) $8000 (Progress - 80%)
Total: $46,973 (Progress - 94%)
* Our emergency fund already had $8000.
First time all year, we are ahead of schedule on our 2008 money goals. We are about $3600 ahead on our 2008 savings goal. Reason, I have been quite aggressive in funding our 2008 IRAs the last few weeks because I am trying to take advantage of the down market.
On the other hand, we are low on cash so we will need to take care with our spending over the next few weeks.
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $12865 ($20,865*) (Progress - 129%)
(4) $5108 (Progress - 102%)
(5) $8000 (Progress - 80%)
Total: $46,973 (Progress - 94%)
* Our emergency fund already had $8000.
First time all year, we are ahead of schedule on our 2008 money goals. We are about $3600 ahead on our 2008 savings goal. Reason, I have been quite aggressive in funding our 2008 IRAs the last few weeks because I am trying to take advantage of the down market.
On the other hand, we are low on cash so we will need to take care with our spending over the next few weeks.
Monday, October 27, 2008
Emergency Fund - CD
We keep our emergency fund (and our other savings) in high yield savings accounts with ING. But with interest rates dropping, we decided to move $5000 of our $20,000 to a 12 month CD (also with ING).
Sunday, October 26, 2008
Goal #4 Completed
2008 goals:
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $12291 ($20,291*) (Progress - 123%)
(4) $5000 (Progress - 100%)
(5) $7000 (Progress - 70%)
Total: $45,291 (Progress - 90%)
* Our emergency fund already had $8000.
Goal number 4, baby fund, is now completed. We likely will need more than $5000 in our baby fund so we will pick up this goal again in 2009.
At present, I'm working on funding Mr. Sam's 2008 IRA. I've been buying stocks like crazy the last few weeks. My stock picking criteria - good established companies, stock priced at least 50% off, and diversified companies (i.e. conglomerates, retail, tech, energy, pharma, etc.)
We've been discussing what to do when his 2008 IRA is fully funded. If we close our 2008 goal early we could: (1) start saving money for our 2009 IRAs, (2) continue to buy stocks but not in a tax advantaged account, (3) establish our 2009 money goals and start putting money away for same, (4) save for a new couch. What would you do? At present, I'm inclined to either put money aside for our 2009 IRAs or continue to buy stocks.
(1) 2007 IRA - $8000 (this goal is now closed)
(2) Car fund - $17000 (this goal has been completed!)
(3) E/R fund - $10000 (this goal has been completed!)
(4) Baby fund - $5000 (this goal has been completed!)
(5) 2008 IRA - $10000
Total: $50,000
Current numbers:
(1) $4000 (50%.)
(2) $17000 (Progress - 100%.)
(3) $12291 ($20,291*) (Progress - 123%)
(4) $5000 (Progress - 100%)
(5) $7000 (Progress - 70%)
Total: $45,291 (Progress - 90%)
* Our emergency fund already had $8000.
Goal number 4, baby fund, is now completed. We likely will need more than $5000 in our baby fund so we will pick up this goal again in 2009.
At present, I'm working on funding Mr. Sam's 2008 IRA. I've been buying stocks like crazy the last few weeks. My stock picking criteria - good established companies, stock priced at least 50% off, and diversified companies (i.e. conglomerates, retail, tech, energy, pharma, etc.)
We've been discussing what to do when his 2008 IRA is fully funded. If we close our 2008 goal early we could: (1) start saving money for our 2009 IRAs, (2) continue to buy stocks but not in a tax advantaged account, (3) establish our 2009 money goals and start putting money away for same, (4) save for a new couch. What would you do? At present, I'm inclined to either put money aside for our 2009 IRAs or continue to buy stocks.
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