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hot cocoa on the couch posted:Didn't really do an April update on May 1 because I was crazy busy with school and had no idea what was going to happen moneywise. I'll do an early May update instead of both April + May because everything just fell into place the last few days. make sure that the consumer loan doesn't balloon interest. lots of "pay no interest until Date X" will suddenly charge you interest covering all time periods through Date X when Date X rolls around.
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# ? May 22, 2020 16:18 |
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# ? May 15, 2024 04:33 |
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DJCobol posted:Updated 2020 Goals: Updating again: 1) Not dead. 2) Still employed, but 10% reduction through Q2 and maybe longer, who knows. 3) I took the stocks widget off my phone and watch, so significantly less stock price checking. 4) Not crying as much, see number 3. Other news: 1) Got married. 2) Wife started nursing school so those tuition and book payments are fun now. 3) Still trying to figure out how to pay down her existing student loans at the same time. 4) Saved a lot on wedding costs by doing a quickie ceremony with a few friends and family. All in I think we only spent like $3k. 5) Now that I can file taxes for this year as married, I can contribute to a Roth IRA again as she drags us back under the limit. Mine is maxed after taking RMDs from a beneficiary IRA, working on maxing hers. 6) 2 months of hell coming up figuring out how to merge bank accounts, credit cards, car payments, home/auto insurance, cell phone plans, and everything else from separate into one. Huzzah!
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# ? May 27, 2020 15:16 |
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May Update 1. Increase net worth from 173k to 205k. 175k. RIP net worth goals, we hardly knew ye. 2. Increase emergency fund from 12k to 14k. 13.6k. Should be able to knock this one out by August. 3. Contribute $3.1k to Roth IRA. $1300. On track. 4. 1.22 extra mortgage payments made. Threw some extra money I had at it. Probably won't meet the stretch goal, but I will try! 5. Pay an average of 25% extra on each car payment through 2020. Averaging 38% extra per car payment. 6. No non-auto or mortgage debt in 2020. Going strong!
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# ? May 27, 2020 17:47 |
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MrLogan posted:2020 Goals: I guess I should update: 1. Increase Emergency Fund by $5k - Spent a few thousand to refinance the house at a lower interest rate, so a bit behind this goal. So far increased by $1.5k. 2. Max out 401(k) - On auto pilot. 3. No new debt/loans; currently only loan is mortgage - Still good, but considering taking out a home equity loan to put in solar panels since rates are so cheap.
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# ? May 27, 2020 18:20 |
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KYOON GRIFFEY JR posted:make sure that the consumer loan doesn't balloon interest. lots of "pay no interest until Date X" will suddenly charge you interest covering all time periods through Date X when Date X rolls around. Yeah it is that kind of loan, but I have the cash on hand now to pay it and my plan is to pay it off in one shot once I have a job lined up. I'm just guarding my savings a little jealously atm haha
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# ? May 27, 2020 18:25 |
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be very, very careful that you do not forget
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# ? May 27, 2020 21:17 |
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PIZZA.BAT posted:Ooooh. Yeah I've heard of those but my mind immediately blanked it out because as soon as things start veering away from the very simple and straightforward investing strategy I have I assume it's a bad idea. I'll look into that I get to link this again: https://thephysicianphilosopher.com/first-backdoor-roth-on-vanguard/ Step by step, screen by screen instructions for doing it at Vanguard. You will have to start adding form 8606 to your tax return. https://www.merriman.com/wealth-enhancement/how-to-report-a-backdoor-roth-ira-contribution-on-your-taxes/ Just for the love of god ensure you don't have any trad IRAs.
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# ? May 27, 2020 23:37 |
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balancedbias posted:Let's do this! Holy Hell this looks like a different year. I feel strange because these past couple of months have felt full of anxiety, and yet the crash/recovery/societal plague-of-doom has had some odd effects. 1 - ON TRACK. I'm amazed that I have my job with no paycut. I am so worried right now but there has been zero mention of cuts plus our hospital is opening up back to full capacity. 2-Because my annual bonus from last year came in February, I was able to get ahead of my expected curve. Of course, my mind just views this as an extended emergency fund because Mr. Market is a wild ride. 3- definitely not the time to breach that subject. She barely got her contract renewed for the upcoming year. 4- Oh brother I had such high hopes during the naive days As a result of my mental anguish (I'm thankful I didn't completely fall apart) my personal goals are also way behind. But I remain hopeful, because those are all within my control.
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# ? May 28, 2020 04:18 |
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moana posted:2020 Goals
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# ? May 28, 2020 10:22 |
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2020 Financial Goals (May Update) I've revised all of my 2020 goals to be a bit simpler and reachable considering the current environment (in addition to simplifying my overall strategy). Goals for 2020: - Increase emergency fund / cash to $25,000 - currently exceeded, but I have some large expenses coming up. - Save 15% of our gross income into tax advantaged accounts (9% into my 401k, max out my IRA, remaining into my wife's IRA) - on autopilot - Pay off my wife' car - I have all payments scheduled to pay this off by the end of the year. Current assets are: $29,330 in cash $556,804 in taxable investments $412,010 in property (real estate and vehicles) $92,508 in retirement accounts (401k + Roth IRA's) Total = $590,652 Current liabilities are: $4,482 (@4.25%) for a car $1,615 in credit card (paid off every month) $957 on iPhone upgrade program $259,150 on my mortgage (@3.75%) Total = $266,204 Net Worth = $324,448 (+$11,269 YTD / +$6,951 from April 30, 2020) 2020 Personal Goals - Take two consecutive weeks of vacation. I am very fortunate and have 7 weeks of PTO, which I never actually use. Planned for one week of family vacation in August. Remaining time is to be determined - Do 100 consecutive pushups. Currently at 15. Haven't really focused on this at all, probably still around 15 - 20. UPDATE: Working from home has resulted in me doing at least 50 pushups a day between work tasks. - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Read 4 books in May, I will probably end up reading ~75 books this year
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# ? May 29, 2020 21:31 |
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I'm no longer doing financial goals since it's just "Max out all tax-advantaged space". I know net worth goals aren't good, but I just checked, and I'm within 2% of my net worth at the beginning of the year, so that's rad. But that's also with all my retirement contributions for this year, so it's still net negative by a little once accounted for that.
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# ? May 30, 2020 13:07 |
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# ? May 31, 2020 08:42 |
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Omne posted:The theme for 2020 is Getting Back On Track. 2018 and 2019 were a bit rough from a financial perspective (new vehicle lease, new home purchase, inability to actually save much outside of 401ks). LOL. 1. Still on track 2. Emergency fund goal: $10k. Current status: $10,700. Goal Met (for now) 3. Student loan goal: <$5k. Current status: $6,500. Not on track 4. Ireland trip: This was all set to go, but obviously the coronavirus ruined it. I was able to cancel everything, so I'm not out of pocket anything. 5. Side income goal: > $0. Current status: $0. Not on track Non Financial Goals 1. Build a network: LOL. 'Rona ruined this too so far this year 2. Run 750 miles. Current status: 253. I guess I'm on track? 3. Bonus room is partially organized. The TV is mounted, and we're working on turning the back half into a home gym 4. Read 20 books. Current status: I'm on my 4th. No excuses here, I'm just pathetic 5. LOL; 'Rona ruined it and we decided to build a home gym. I'll cancel once I'm able to.
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# ? May 31, 2020 15:10 |
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KYOON GRIFFEY JR posted:yeah i think my updated goals are how are we doing? 1a) Don't die still kickin 1b) wife don't die either still kickin 1c) don' t kill each other still kickin 2) Keep Job Success. things are appearing to turn around a bit! 3) Go outside every day Somewhat of a success, most days. 4) Do some inside non-screen hobby every day Not Success! 5) Run 3-4x week Have replaced with some other exercises but I'm getting 6x week with mandatory day off 6) wife graduate and not go insane success! yay wife adding: 7) wife find job she is applying and there is stuff out there that appeals to her so that's good
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# ? Jun 1, 2020 13:13 |
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May update 2020 Financial Goals:
2020 Personal Goals:
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# ? Jun 1, 2020 15:10 |
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June Update 1. Increase net worth from 173k to 205k. 177.5k. RIP net worth goals. 2. Increase emergency fund from 12k to 14k. 13.8k 3. Contribute $3.1k to Roth IRA. $1560. On track. 4. 1.22 extra mortgage payments made. 5. Pay an average of 25% extra on each car payment through 2020. Averaging 49% extra per car payment. Trying to set myself up to pay off my car in 2021. 6. No non-auto or mortgage debt in 2020. Going strong!
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# ? Jun 29, 2020 18:20 |
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Q2 over! Alive and socially starving. Woop.Potrzebie posted:Goals for 2020:
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# ? Jun 29, 2020 20:44 |
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Somehow managed to miss a May update so here's a quick June summary: - No consumer debt - £81k Pension - £6.5k ISA, 6 months late but this is now above the 2019 original target! - Back to £106k NW No house yet Personal Goals are still being dumped on by lockdown. I should start running again once we are allowed to go back to the pub and my beer intake goes up again
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# ? Jun 30, 2020 13:51 |
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2020 Halfway Update: Current State - - My student loans: 170k, eligible for PSLF in 3 years. Currently 0% interest, no payments until September. - - Mortgage on a 15 year fixed at 3% - Emergency Fund Funded. Financial Goals for 2020 - - - Max out Backdoor Roth IRAs for me/wife: 12k Done - Put at least $6k/month in to a taxable account. Upped this to $7k/month, and have been on track since the beginning of the year/through COVID so far. - Save money for our next car Funded this, then spent it on a replacement car for my wife. Now I'm saving for a car for me, maybe? - Continue maxing out our 401ks/457s - On autopilot - Continue maxing out our HSA - On autopilot - Annual recertification of PSLF in September New Goal: Residency Evil fucked around with this message at 18:26 on Jun 30, 2020 |
# ? Jun 30, 2020 18:17 |
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Uni loans got indexed at the start of the month at 1.8%.They'll drop about 10% from the fraction the government took from my payslips when I get around to filing tax. Hmm... doing some quick numbers in Excel, they'll vanish in six or seven years even if I don't throw any extra at it. And I could probably react if the government gets greedy and starts charging actual interest. Sometimes I'm still not used to earning money.
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# ? Jul 1, 2020 10:37 |
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2020 Financial Goals (June Update) I've revised all of my 2020 goals to be a bit simpler and reachable considering the current environment (in addition to simplifying my overall strategy). Goals for 2020: - Increase emergency fund / cash to $25,000 - currently exceeded, but I have some large expenses coming up. - Save 15% of our gross income into tax advantaged accounts (9% into my 401k, max out my IRA, remaining into my wife's IRA) - on autopilot - Pay off my wife' car - I have all payments scheduled to pay this off by October (was end of year) Current assets are: $36,140 in cash (5/31 was $29,330, no I didn't win a scratch off ticket. I had neglected to count my money in escrow) $58,440 (5/31 was $56,804) $417,232 in property (real estate and vehicles) / (5/31 was $412,010) $95,711 in retirement accounts (401k + Roth IRA's) / (5/31 was $92,508) Total = $607,523 (5/31 was $590,652) Current liabilities are: $4,001 (@4.25%) for a car $2,144 in credit card (paid off every month) $894 on iPhone upgrade program $258,158 on my mortgage (@3.75%) Total = $265,224 Net Worth = $342,299 (5/31 was $324,448) (+$21,729 YTD / +$11,393 from May 31, 2020) 2020 Personal Goals - Take two consecutive weeks of vacation. I am very fortunate and have 7 weeks of PTO, which I never actually use. Planned for one week of family vacation in August. Remaining time is to be determined - Do 100 consecutive pushups. Currently at 15. Haven't really focused on this at all, probably still around 15 - 20. UPDATE: Working from home has resulted in me doing at least 50 pushups a day between work tasks. - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Read 1 (loving Circe) book in June, I will probably end up reading ~60 books this year
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# ? Jul 1, 2020 12:32 |
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June Update: I took the last couple of months off from posting itt due to being furloughed back in April and laid off in May. I am employed again and I actually got a raise, so I’m going to try and make up for lost time and still hit my goals for this year. I also received a small windfall while being unemployed, so I put all of it towards my emergency funds and IRA and was able to finish out a couple of goals. Pipistrelle posted:Financial Goals
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# ? Jul 1, 2020 14:19 |
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June update 2020 Financial Goals:
2020 Personal Goals:
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# ? Jul 2, 2020 12:35 |
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Do any of you have good framework recommendations for setting personal goals? That is a work in progress for me and figured I would ask here.
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# ? Jul 21, 2020 22:36 |
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crazypeltast52 posted:Do any of you have good framework recommendations for setting personal goals? That is a work in progress for me and figured I would ask here. For overall goals, this is what I try to keep to: Health: Always have some form of fun activity that keeps me healthy. Ideally this is with friends. Family: Show appreciation and eat at least one meal a day together. Community: Get to know my neighbors and be on the lookout for ways to help others. Learning: Be learning something new, it doesn't matter what. Art: Set aside a weekly block for creative stuff. Charity: Give time or money or both to help people in need. Reading: A book a week, on average, and share the good ones with friends. Career: Always be learning a new skill. Once I get bored with doing something, double my rates and find another thing to learn. Whatever stage of life you're in, it's important to keep one eye on the daily stuff and another eye on the big-picture stuff. I personally hate the whole idea of "balance" since your priorities will shift throughout life, and I think it's fine to pour yourself into something for a while even if it means shoving other things on the back burner. When I was younger, I really liked having a nice home and spent much more time working, traveling, and partying. Getting into middle age with a kid, my house is a disaster but I'm having fun with my kid and taking better care of my health. When I'm older, I will probably be spending more time with friends, indulging in intellectual pursuits, and mentoring younger people. The younger you are, the more you should jump at risky opportunities and reach for grand ambitions. Crash and burn before you have too many adult responsibilities; you will learn a ton along the way by failing. Beware of making too many plans or working on goal setting rather than working on goals - jump in and figure things out as you go.
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# ? Jul 22, 2020 05:54 |
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I hit my goal of paying off 15k of debt this year. On track to save 13% of my salary for retirement as well. Onward to 6500 more! Then that will be half my debt!
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# ? Jul 22, 2020 22:26 |
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cheese eats mouse posted:I hit my goal of paying off 15k of debt this year. Nice man. Good work.
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# ? Jul 27, 2020 06:41 |
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Doccykins posted:Somehow managed to miss a May update so here's a quick June summary: End of July: - No consumer debt - £82.2k Pension - £7.3k ISA, this is massively on target now for £8k by end of year and I'm here for it - £108k NW With up to £15k Stamp Duty relief and Coronas meaning I won't be back in the office until at least January 2021 (and then probably only rarely as I can WFH effectively) we are upping our search for a house to near my partner's parents on the south coast whilst keeping her flat in London so we can get much better value. Everyone else in the country has also probably thought of doing this
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# ? Jul 31, 2020 13:49 |
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crazypeltast52 posted:Do any of you have good framework recommendations for setting personal goals? That is a work in progress for me and figured I would ask here.
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# ? Aug 1, 2020 01:26 |
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Thanks moana and uvar! Hoping to come back to the thread with some goals later in the year.
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# ? Aug 1, 2020 06:03 |
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2020 Financial Goals (July Update) I've revised all of my 2020 goals to be a bit simpler and reachable considering the current environment (in addition to simplifying my overall strategy). Goals for 2020: - Increase emergency fund / cash to $25,000 - currently exceeded, but I have some large expenses coming up. - Save 15% of our gross income into tax advantaged accounts (9% into my 401k, max out my IRA, remaining into my wife's IRA) - on autopilot - Pay off my wife' car - I have all payments scheduled to pay this off by October (was end of year) Current assets are: $33,638 in cash (6/30 was $36,140, property taxes were due July 1) $60,658 in taxable investments (6/30 was $58,440) $435,148 in property (real estate and vehicles) / (6/30 was $417,232) $102,020 in retirement accounts (401k + Roth IRA's) / (6/30 was $95,711) Total = $631,664 (6/30 was $607,523) Current liabilities are: $3,127 (@4.25%) for a car $3,450 in credit card (paid off every month) $831 on iPhone upgrade program $258,197 on my mortgage (@3.75%) Total = $265,605 Net Worth = $366,059 (6/30 was $342,299) (+$53,240 YTD / +$27,628 from June 30, 2020) 2020 Personal Goals - Take two consecutive weeks of vacation. I am very fortunate and have 7 weeks of PTO, which I never actually use. Planned for one week of family vacation in August. Remaining time is to be determined - Do 100 consecutive pushups. Currently at 15. Haven't really focused on this at all, probably still around 15 - 20. UPDATE: Working from home has resulted in me doing at least 50 pushups a day between work tasks. - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Read 3 books (7 Habits of Highly Effective People, Getting Things Done, and Siddhartha) in July, I will probably end up reading ~60 books this year
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# ? Aug 1, 2020 12:49 |
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July Update 1. Increase net worth from 173k to 205k. 181.8k. RIP net worth goals. 2. 14k 3. Contribute $3.1k to Roth IRA. $1820. On track. 4. 1.47 extra mortgage payments made. 5. Pay an average of 25% extra on each car payment through 2020. Averaging 40% extra per car payment. If I can keep something resembling this rate up, car will be paid off one year from now. 6. No non-auto or mortgage debt in 2020. Yep. My life is a tire fire, but at least I can say my finances are okay.
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# ? Aug 1, 2020 19:47 |
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People whose net worth took a hit this year - did you sell stuff? Seems like my accounts are now up YTD?
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# ? Aug 1, 2020 21:43 |
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That's the reason I don't make net worth increases a part of my annual goals. I am predominantly an index fund investor, and as such I have to accept the market "as is." I can control my saving/paydown amounts though, so I base my goals off of that.
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# ? Aug 1, 2020 22:53 |
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July Update: Financial Goals 1. 2. Done 3. Done 4. Contribute at least $5000 to 401(k) by EOY Current: $1590 I upped my 401(k) contribution from 8% to 10%, which should allow me to hit this one 5. Get HSA to Current: $140 Non-Financial Goals 1. Stop eating out so drat much Doing pretty well with this one still 2. Do yoga 5 days a week Hahahaha nope
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# ? Aug 2, 2020 15:36 |
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GoGoGadgetChris posted:People whose net worth took a hit this year - did you sell stuff? Seems like my accounts are now up YTD? Doccykins posted:my buy and hold post tax account is back in the green Sold nothing in any long term accounts and this is now +11% (Vanguard 80% stocks /20% bonds)
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# ? Aug 2, 2020 15:38 |
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July update 2020 Financial Goals:
2020 Personal Goals:
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# ? Aug 3, 2020 03:56 |
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I sold a bike and had some good fortune on the work end so I paid an extra 2,000. My credit score went up ~12pts in July. August Starting CC balance: $2,515 (5,000 in July) (500/m on track) Medical debt: $1,123 (103/m on track) Consolidation Loan: $4,247 (253/m on track) Student Loans: $18,355 (296/m on track) Emergency savings: $5,645 (+310) I have increased my Roth contribution this month an extra $50/m $7,480 of $13,100 of retirement goal for this year. August personal goals I am currently saving for a jacket I really really want. I'm about half way there and waiting for it to go on sale cause I know I can nab it for half off. Sell record player Start selling my more common records Lower the prices of my closet on poshmark List more items on poshmark Sell/give away the extra house stuff I don't use. Starting to see a light at the end of the tunnel on my high interest debt. cheese eats mouse fucked around with this message at 17:35 on Aug 3, 2020 |
# ? Aug 3, 2020 17:19 |
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KYOON GRIFFEY JR posted:how are we doing? still doin about the same as above, got some crazy moving within our town occurring including living with inlaws for 2 weeks because everything is kinda hosed in terms of wife's job search and we are scrambling at the last minute to stay vaguely in place Q3 goals: 1) maintain good relationship with inlaws 2) move around w/out killing each other 3) move around without spending more than $1,500 on this stupid process also somehow crossed the $500k NW number because global pandemic is good for the global elite and lovely for normal working people
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# ? Aug 3, 2020 18:28 |
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# ? May 15, 2024 04:33 |
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August Update 1. Increase net worth from 173k to 205k. 182.5k 2. Increase emergency fund from 12k to 14k. 12.3k I elected to have the (OG) drainage system around my new house re-done now instead of waiting until next fall. I live on at the bottom of the hill, the back bedroom has flooded previously (prior to my ownership), and the french drain system looks hosed. 6.5k total, half paid in August and I believe the other half will be paid in October when the work is complete. I will do my damnedest to get the efund to 14k by the end of the year, but it will be a challenge! 3. Contribute $3.1k to Roth IRA. $2080. On track. 4. 1.56 extra mortgage payments made. 5. Pay an average of 25% extra on each car payment through 2020. Averaging 40% extra per car payment. Might stop putting the extra in this to help repair the emergency fund. We'll see. 6. No non-auto or mortgage debt in 2020. Yep. I don't generally work summers, but with the move to "distance education" I've been asked to come in a lot this summer. This last paycheck was $700 above normal, which was nice. End of Sept. will be an average paycheck because they don't process supplemental contracts in time, but October's check is usually rockin' and should get me back on track. Our union just finished bargaining the MOU around distance learning and are just now getting started with the CBA. So, no idea if we will get a raise or not this year!
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# ? Aug 31, 2020 06:14 |