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Modest Mouse cover band posted:2017 Goals: e:
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# ? Mar 7, 2017 01:50 |
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# ? May 2, 2024 23:27 |
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End of Feb updateGuest2553 posted:My big picture goals for the year are to increase family net worth to 220K and stick to a budget. We currently have about 180K between savings/roth/401 and are aiming to save ~24k, throw our Guest2553 fucked around with this message at 02:12 on Mar 8, 2017 |
# ? Mar 8, 2017 01:40 |
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I'm always late to the party. 2017 Goals: * Already maxed out both of our 2017 Roth IRAs * Save $35,000 by end of year for house down payment ($40,000 stretch goal) * Get a raise at work (hopefully $10k) * Decide on a place to move (Leaving California for a better COL environment and raise a family. Have already visited a few options) * Get work to allow me to be 100% remote (transitioning from being at the office every day to 60% (3 days a week) starting in April. Plan is to keep my job for the move) * Stretch Goal - Save for 2018 Roth IRA
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# ? Mar 9, 2017 08:39 |
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Proposition Castle posted:With two paychecks in 2016 left the loan payment is down to $1100. Edit: after submitting the recalculation request the payment is $1050 Down to $47,700 and my discipline is cracking real bad. Also I hate my job and am really close to walking out.
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# ? Mar 11, 2017 14:30 |
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dreesemonkey posted:2017, like most of my annual goals are not very challenging. We make ok money, have a mortgage but no other debt, two kids in daycare, and we're saving moderately for retirement and kid's education so I feel we're hitting all the high points. Updates: Bought a car for < $10k, so both of these are killed. Going cheap is going to allow us to do some home improvements this year. Right now trying to sell the car that we've replaced.
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# ? Mar 11, 2017 21:57 |
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Proposition Castle posted:Also I hate my job and am really close to walking out. Noooooo don't! Don't do it don't do it don't do it! Find new job then walk out. The last thing you want to do (unless you have an alternative plan) is to quit before you have something else arranged. I'm in the same boat and it's really friggin' hard to not throw up the double middle fingers and holler, "later bitches!"
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# ? Mar 12, 2017 00:10 |
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TouchyMcFeely posted:Noooooo don't! Don't do it don't do it don't do it! P much this. I have a side freelancing job that I'm using to pay off loans/build up savings that's really pissed me off lately, but I'm sticking with it (and even spending my Saturday night doing it right now!) because I want to pay the gently caress out of this debt. Don't give up!
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# ? Mar 12, 2017 03:49 |
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Proposition Castle posted:Down to $47,700 and my discipline is cracking real bad. Also I hate my job and am really close to walking out. This is the toughest part of being in debt. You have less freedom to choose what you do. If you really want to leave you should line up another job prior to resigning.
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# ? Mar 14, 2017 03:45 |
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The Big Jesus posted:I didn't make any goals for last year but still managed to get decent things done. Hopefully I can do better with some goals! 1) done 2) done 3) done 4) done 5) still gotta figure where to put it. Thinking vanguard mutual fund 6a) done 6b) half done. Got somebody moving in April 1 who plans to stay at least a year. Plan on adding a second roommate in July/August (hopefully somebody from my program) 7) getting close. Weighed in at 183 this morning. Hitting the gym 5x/week until I make it.
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# ? Mar 14, 2017 21:09 |
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Thanks for the replies everyone! I'll spend my vacation trying to find something new.
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# ? Mar 14, 2017 21:32 |
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The Big Jesus posted:5) still gotta figure where to put it. Thinking vanguard mutual fund Bro, it's not an emergency fund if it's risk-exposed. Your emergency fund - literally the financial cushion between you and ruination - should be cash or short term cash-stable equivalents, and should contain at least several months of living expenses. If it's more than that, by all means invest, but make sure you're not going to take a 20% haircut if the market drops. If you have family to lean on, it might shrink this pot a little, but one of the hallmarks of balanced finances is that you're okay only drawing 2% on your emergency fund because you realize that the highly correlated nature of financial slowdowns and meltdowns will destroy you if you get cute with your emergency fund. (You don't lose your job in a boom). EAT FASTER!!!!!! fucked around with this message at 21:39 on Mar 14, 2017 |
# ? Mar 14, 2017 21:37 |
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One of the most common times you need an emergency fund (job loss) tends to coincide with 20/40/60% stock market drops. Your emergency fund has a very important job of providing security against all forms of the unexpected. Don't ask it to quit and take a new job as Long Term Savings.
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# ? Mar 14, 2017 21:40 |
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EAT FASTER!!!!!! posted:Bro, it's not an emergency fund if it's risk-exposed. Your emergency fund - literally the financial cushion between you and ruination - should be cash or short term cash-stable equivalents, and should contain at least several months of living expenses. If it's more than that, by all means invest, but make sure you're not going to take a 20% haircut if the market drops. You could lose your job in a boom but you'll be able to get a new one relatively quickly. It's not the job loss that kills you, it's the long-duration unemployment.
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# ? Mar 15, 2017 12:17 |
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I was going some account maintenance today and was pleasantly surprised to see my net worth broke the 200K mark. Even though I'm only worth like 500 bucks more than yesterday and the difference is all because of market activity outside of my control, it's a pretty sweet psychological milestone. Not as cool as good as breaking the $0 barrier though Tarry onwards, goons :salute:
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# ? Mar 15, 2017 21:40 |
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Omne posted:Omne's 2017 Financial Goals! 1st Quarter Update: 1) On track! 2) Done! Started with the higher contribution 3/15 paycheck 3) Done! Paid off March 1st 4) Emergency fund at $9,722.30 5) Loan is at $11,050. This will get started more in April now that the furniture has been paid off. 6 and 7 not yet started
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# ? Mar 17, 2017 01:50 |
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Got my emergency fund to my goal of $7500. Now to start throwing all the money that was budgeted for the emergency fund each month at my student loan debt!
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# ? Mar 18, 2017 04:09 |
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BAE OF PIGS posted:Got my emergency fund to my goal of $7500. Now to start throwing all the money that was budgeted for the emergency fund each month at my student loan debt! Keep up the good work, Bae.
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# ? Mar 18, 2017 17:09 |
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Devian666 posted:I skipped last years goals due to things being too hosed and unpredictable with the infamous retaining wall of doom that I needed to have built. All the payments and debt relating to that were wiped out in December so it's a good time to get back on track. Retirement savings $68k. House refinancing will probably happen within the next two weeks.
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# ? Mar 20, 2017 04:13 |
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I'm updating on a "when I feel like it" schedule. Time for a random update!Rick Rickshaw posted:Current Figures: Rick Rickshaw fucked around with this message at 14:00 on Mar 20, 2017 |
# ? Mar 20, 2017 12:06 |
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A little late on this month, but here we go. February Update 2017 Goals Increase Emergency Fund to 1 month after-tax income - $6K - Up to $1,500 (had to pull a little to cover the overspending this month) Increase Monthly Savings rate to $250/mo (based on 2 paycheck months, leave 2 'extra' paychecks for savings/projects) - Overspent by $274 this month. Lots of family birthdays and Valentines day threw the budget off. This has not been an uncommon occurrence in our budget life. Which we need to change! Increase 401k Match to 3% by year-end - No movement, waiting to free up more cash flow / get annual raise Begin Side Hustle to generate at least $250/mo in income - Cranking up travel hacking hobby which will on average produce around $150-200 per month throughout the year after paying annual fees and other expenses. Brought in $57 this month (not included in above number, keeping all the funds internal to pay for future expenses for it) Question all assumptions and look for opportunities to make big headway - I'm certain that this will be a controversial topic, but after much deliberation my wife and I decided to repurpose our children's 529 plans to cover some of the outstanding debt that we have that is preventing us from making headway each month. By doing so, we are able to free up $550/month which we absolutely cannot and will not use for lifestyle inflation. The main idea we had was that the stronger we get now the more able we will be able to cash flow their college if needed. The future is bright for my income at my company over the next ten years so we'll likely be able to replenish the funds anyway. It felt awkward to be continuing to pay down my own college education while struggling to save for theirs. Stretch Goals Increase Monthly Savings rate to $500/mo (based on 2 paycheck months, leave 2 'extra' paychecks for savings/projects) - Begin Side Hustle to generate at least $500/mo in income - Increase Emergency Fund to 2 month income - $12K - Looking ahead to March, this will be an interesting month. This is the month that tax returns and my annual bonus hit our budget as well as we are taking a family vacation to Disney World (60% already paid for out of my wife's side business). I put into place the cash flow saving ideas but those will really hit in April. Should start seeing aggressive saving then! TraderStav fucked around with this message at 13:16 on Mar 20, 2017 |
# ? Mar 20, 2017 13:13 |
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Rick Rickshaw posted:I'm updating on a "when I feel like it" schedule. Time for a random update! I think this is the best process for some. I'm only reporting relevant updates. If nothing has happened there's nothing for me to report.
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# ? Mar 20, 2017 23:48 |
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2017 Goals: Save $2,000/mo towards house downpayment fund - on track Move to a place with same or lower rent wherever I end up moving TBD, August Max 401K on track Save $500/mo in taxable brokerage nothing done yet, have just configured auto deposit monthly Max IRA nothing done yet, have just configured auto deposit monthly Net worth goal: $225,000 currently at 198K, based on defined savings plan above should be at $247K in December. Net worth stretch goal: $250,000 Non monetary: Get engaged woo got ring now 4 proposal go on a cool vacation tbd Stretch goal: If I move somewhere with a garage and if I receive a higher than expected bonus in 2017 ($60k target), and if I have met all my other goals, set aside $20,000 for the acquisition of a Serie 1 Lancia Fulvia 1.3. currently my performance against my bonus criteria indicates that i will get a very good bonus. fingers crossed! KYOON GRIFFEY JR fucked around with this message at 13:54 on Mar 22, 2017 |
# ? Mar 22, 2017 13:52 |
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End of Quarter 1 Update! New tales of BWM lay within! EAT FASTER!!!!!! posted:
How foolish, December EF was, to think his car would last another year.
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# ? Mar 28, 2017 14:12 |
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Q1 Update! I've been holding off on posting 2017 goals because I work in an energy research job for the government so it remains to be seen if I'll still have a job in a month or two But I think I'm just going to be optimistic and post them assuming I'm going to have a job. And if I don't then I'll update the goals accordingly. Q1: So far so good the situation actually looks a good bit more promising than I had feared ~*~my 2017 goals~*~ 1. Max Roth IRA Q1: Done! 2. Increase cash emergency fund from 3 to 6 months living expenses at current living expenses rate (meaning i could stretch it out more than that if I was in trouble and cooled my spending) Q1: I'm changing this goal, kinda. Now saving 1/4 of my salary in low-risk assets (short term bonds) as a combination emergency fund + money for a planned "emergency" that my wife and I hope will happen roughly 2-3 years from now. 3. Put 1/4 of salary towards retirement savings by end of year (stretch goal 1/3) Q1: On track for 1/4 so far 4. Get better details of wife's finances and figure out a plan for her / combined plan for us Q1: Only just now starting to do tax preparation (lol) and using this as an opportunity to get a handle on her finances, which are not bad but in a bit of disarray organization-wise 5. Teach a class adjunctishly Q1: Unless something goes wrong at the registrar's office, I am slated to teach a grad-level class this fall! The pay is meh but I still have my main job and I really want to teach. I'm very excite 6. Get new windows installed in house Q1: Called around for estimates, but haven't done much else on this one. Hoping to get it done this summer while it's nice out.
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# ? Mar 28, 2017 14:44 |
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EAT FASTER!!!!!! posted:End of Quarter 1 Update! what'd you get?
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# ? Mar 28, 2017 20:57 |
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EAT FASTER!!!!!! posted:End of Quarter 1 Update! The upside is that you used the car until it died. Gotta squeeze every last dollar out of everything.
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# ? Mar 28, 2017 21:44 |
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KYOON GRIFFEY JR posted:what'd you get? CPO 2015 VW Golf R Something something fuel efficiency, and while it wasn't FREE it wasn't like a brand new S4 or something. I very nearly bought a Subaru Impreza which probably would have been better with money but whatever, I like driving fast to and from work.
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# ? Mar 28, 2017 22:10 |
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EAT FASTER!!!!!! posted:CPO 2015 VW Golf R Lmao I thought you wanted reliability
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# ? Mar 29, 2017 23:11 |
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March update: Payments still on schedule, non-monetary goals still on track (read John Grisham's The Summons, it was alright but didn't hook me as quickly as I think it was supposed to). But more importantly my wife has accepted a new job beginning in June that pay approximately double what her current postdoc does And we're moving to a new place in May and she's agreed to pay the difference in rent And she wants to start saving up for a down payment on our own place in a couple years (we need a :sheptoot:)
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# ? Mar 29, 2017 23:45 |
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2017 Goals (March update):quote:- Slow-and-steady wins the race. I'll probably knock out the IRAs after my bonus hits in a couple days.
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# ? Mar 30, 2017 02:18 |
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KYOON GRIFFEY JR posted:Lmao I thought you wanted reliability Did I say that? I think I meant "fast." Yup, pretty sure I meant "fast."
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# ? Mar 30, 2017 15:03 |
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I got a job offer recently (tenure-track) so I'm finally in a position to really start thinking about the future. I'll be moving across the country in June and I have a few goals for this year. Age: 31 Goals for this year: 1. Buy a car (will do in May) 2. Get married (will do courthouse this summer and celebratory party next year) 3. Max Roth IRA. (Done!) 4. Continue maxing 403b 5. Max 457 in new job 6. Slowly save more for house down payment (need maybe another $10-20k, although I won't look for houses for another 2-3 years at the earliest) Hamming Cube fucked around with this message at 15:36 on Mar 30, 2017 |
# ? Mar 30, 2017 15:30 |
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Hamming Cube posted:I got a job offer recently (tenure-track) so I'm finally in a position to really start thinking about the future. I'll be moving across the country in June and I have a few goals for this year. Congratulations - and these are some drat fine goals.
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# ? Mar 30, 2017 15:38 |
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Thanks! It's a pretty aggressive savings plan. We'll see how much I can save for down payment if I'm maxing out both 403b and 457. One of those might have to give, but I'd at least like to max out one of those. Also, girlfriend is considering grad school so that could require even less saving. Things are very up in the air!
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# ? Mar 30, 2017 15:59 |
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Hamming Cube posted:Thanks! It's a pretty aggressive savings plan. We'll see how much I can save for down payment if I'm maxing out both 403b and 457. One of those might have to give, but I'd at least like to max out one of those. Also, girlfriend is considering grad school so that could require even less saving. Things are very up in the air! When you say "maxing" you mean taking advantage of the full tax advantage space of $54,000 (403b) + $18,000 (457)?
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# ? Mar 30, 2017 16:21 |
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Ugh, so jealous of everyone with more than 5,500 per year of tax advantaged space e: and happy for them of course!
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# ? Mar 30, 2017 16:41 |
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EAT FASTER!!!!!! posted:When you say "maxing" you mean taking advantage of the full tax advantage space of $54,000 (403b) + $18,000 (457)? No, I meant 18k + employer contribution (403b) and 18k (457). The 18k + employer contribution definitely wouldn't get up to 54k. Isn't that the max I can do a year? Maybe I should've just said contribute as much as I can.
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# ? Mar 30, 2017 16:49 |
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That may be the max you can do. The effective limit is different for everyone. Some plans have employer contributions that go all the way up to 54k while others let you put in after-tax money yourself that you can then convert to Roth.
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# ? Mar 30, 2017 17:17 |
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potatoducks posted:Some plans have employer contributions that go all the way up to 54k while others let you put in after-tax money yourself that you can then convert to Roth. This is what I meant. Either way, congratulations for saving a really nice nest egg for you and your family moving forward.
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# ? Mar 30, 2017 19:06 |
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# ? May 2, 2024 23:27 |
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End of March Update! 1. Increase net worth from 72k to 94k. Currently 81k 2. Increase emergency fund from 5.5k to 7.5k. Currently 6.3k 3. Increase house fund from 2.5k to 11k. Currently 5.6k 4. Go on a fun (overseas?) trip this summer. Spending Limit: 3k. Trip on hold. See below. 5. Contribute a minimum of $2400 to my Roth IRA. $600 6. Stay debt free. Yup. 7. Lose 15 pounds. Pounds lost: 1. Need to step this up. I've been thinking about going back to school again, which might change a lot of this up significantly. There is a chance of getting my work to pay for the additional schooling, but also a possibility of them not. Until this all gets figured out, my vacation is on hold.
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# ? Apr 1, 2017 15:23 |