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2014 took me from -1k net worth to 29k net worth and saw my assets all grow considerably. 2015 will be different because I'm getting married and looking to move out of a condo that is 15-30k underwater. I can't live there any more. I've wanted to move for five years and 3+ hours of commuting a day and being an hour's drive from all our friends is killing us. Still: -sell the condo and move to the city -add 3k to emergency fund(this will make it 6-7 months) -contribute 6k to 401k -contribute 5500 to IRA -contribute 3350 to HSA -finish the year by paying off the loan I'll doubtlessly need to sell the loving condo If I do all this, my net worth will move from about 29k to about 71k and I'll be poised to max the poo poo out of everything starting in 2016. Also my fiancee makes so much less than me that we'll get a giant refund in early 2016.
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Dec 15, 2014 05:17
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| # ¿ May 11, 2024 12:13 |
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Nail Rat posted:-sell the condo and move to the city Update a couple months in: -still working on the selling. I've had good feedback and a ton of showings(8 in the first 10 days so far) but no offers yet despite being the only unit in the building on the market that includes a deeded garage space. Being on the first floor of an 11 story building sucks. -The 3k has been added, but not sure if it's going to be able to stay there. -On track for the 401k contribution. That amount doesn't include employer match. -On track for the IRA. -On track for the HSA. -The last goal is probably the least realistic. If I sell my condo at the asking price, I'd have to take a 23k loan to cover the loss plus closing costs. And I think I'm going to have to come down another 7500. I really don't care, I can have that paid off by the following summer, I just want out of this loving money hole. If I do have to take a 30k loan, I should be able to at least pay off about 25k by Dec 31st. Some might say just wait another year then, but this building is 40 years old and so is the HVAC unit, it's a time bomb as well as a money hole. A money hole that's about to become a money sinkhole. Plus all the painting I spent the last 8 months doing on my rare time off wouldn't be as fresh then. Nail Rat fucked around with this message at 16:28 on Feb 27, 2015 |
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Feb 27, 2015 16:04
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Nail Rat posted:-sell the condo and move to the city -I'm moving to an apartment where I want to live in May, cutting my commute time per week by at least 20 hours and making it so I no longer have to adhere to a train schedule of any kind, and no longer will need to drive to the grocery store or the gym, or anywhere really. I'm even considering selling my (paid-off) car maybe this fall, which would save me $60 a month in car insurance and maybe get me a few k. However, the condo has not sold yet and I'd have to take a 30k loan out to sell it where it is priced at currently, so I'm not going any lower. If it doesn't sell by late summer I'm going to rent it out instead and kick the can down the road. -Done on the emergency fund additions! The condo is a constant sense of frustration but it's nice to have 15k on hand. -On track for the 401k contributions (this doesn't include match, either). I will probably up the contributions assuming I get a decent raise in July. -On track for the IRA. -On track for the HSA. -See the first part. If I rent the place out I won't end up needing to take out that loan (for now). Never loving buy. Ever.
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Mar 27, 2015 15:17
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Nail Rat posted:-sell the condo and move to the city Some of this will be realistic, some of this will not be. -Sold the condo, now living (renting!) where I want to live until I have 30%+ saved for a down payment in five years or so. (edit: my calculations actually say this will be in about 3.5 years) -Should be able to add 3k to emergency fund. I had added it, but then had to dig into it for wedding and closing costs. -Just got a big raise and increased my 401k back to on pace to max. I won't max it this year because I had dialed it back earlier due to wedding/closing costs, but I should put at least 11k in(perhaps as much as 13k), with my employer pitching in about another 2500. So this is one I'll be blowing out of the water. -Will definitely hit my IRA goal. -Will definitely hit my HSA goal. -Will probably not be able to pay off the personal loan that let me move this year, but we'll see. It depends on wedding gifts, end of year bonus, etc. Either way, starting in a month we'll be paying more than $2k extra on that loan per month, so it will be gone fast. After that, we'll have more than $3k a month to save towards a home down payment in the somewhat distant future. Probably won't end up at 71k net worth, but should at least end up at 57k. Net worth is about 36k right now, so still up from 29k at the start of the year, and wedding poo poo's already paid for. All uphill from here! Nail Rat fucked around with this message at 18:58 on Aug 5, 2015 |
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Aug 4, 2015 15:16
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Go to Maui brewing co. If you like beer. Excellent beer, like 23 different ones on tap at any given time, and pints are $3 if you wear something with their logo on Wednesday.
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Nov 29, 2015 14:08
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| # ¿ May 11, 2024 12:13 |
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Nail Rat posted:2014 took me from -1k net worth to 29k net worth and saw my assets all grow considerably. Final update: -sell the condo and move to the city: done -add 3k to emergency fund(this will make it 6-7 months): not done -contribute 6k to 401k: contributed 13k to 401k, so blew it out of the water (plus about 2500 in match) -contribute 5500 to IRA: done, and my wife did the same. -contribute 3350 to HSA: done -finish the year by paying off the loan I'll doubtlessly need to sell the loving condo: not done, though we're paying it down very aggressively Net worth went from 29k to 62k. I'm okay with that in a year that I moved, sold a very underwater condo, and got married in a BWM wedding (that we accrued no debt for, at least).
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Dec 16, 2015 22:37
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