Financial Goals 2020: Naming Rights to Thread Available

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KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

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.

1. Next rally event is slated for June 20

2. Got my scholarships, and Canada implemented a new funding program for students which is very generous for me. Savings is currently at $5k, will be able to increase that to $10k by the end of the semester I think!

3. CC is paid off!!! This is a huge accomplishment for me, I haven't been credit card debt free since probably 2011? Consumer loan I'm still sitting on because I'd rather build up my savings a bit in light of the current financial uncertainty, and it's not accruing interest. Feeling like I just took a big step forward on the road to debt freedom though, really I only have my student loan now.

4. I applied anyway and was accepted to the degree program. Still don't think it's financially prudent to go right now . Next years goal will be to pay down the student loan as aggressively as possible (maybe entirely?) and then think about going back for another 2 years to obtain my degree. It all depends on what field of engineering I go into really.

Now I need to find a job for September. Only once I do that will I feel secure, the global financial situation still has me feeling nervous. I took some big steps forward this month though and feel great.

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.

# ? May 22, 2020 16:18

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# ? Apr 29, 2024 05:23

DJCobol: May 16, 2003; CALL OF DUTY!; Grimey Drawer

DJCobol posted:

Updated 2020 Goals:

1) Don't die - so far so good
2) Stay employed - check
3) Don't check stock prices multiple times per day - Fail
4) Try not to cry - only crying a little

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!

# ? May 27, 2020 15:16

spinst: Jul 14, 2012

May Update :stare:

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. ~~By the end of 2020, have made at least 1 extra mortgage payment.~~ Met! Stretch goal: 2 extra mortgage payments.

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!

# ? May 27, 2020 17:47

MrLogan: Feb 4, 2004; Ask me about Derek Carr's stolen MVP awards, those dastardly refs, and, oh yeah, having the absolute worst fucking gimmick in The Football Funhouse.

MrLogan posted:

2020 Goals:

1. Increase Emergency Fund by $5k
2. Max out 401(k)
3. No new debt/loans; currently only loan is mortgage

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.

# ? May 27, 2020 18:20

hot cocoa on the couch: Dec 8, 2009

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

# ? May 27, 2020 18:25

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

be very, very careful that you do not forget

# ? May 27, 2020 21:17

KS: Jun 10, 2003; Outrageous Lumpwad

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.

# ? May 27, 2020 23:37

balancedbias: May 2, 2009; $$$$$$$$$

balancedbias posted:

Let's do this!

1 - Max out all tax-advantaged retirement accounts, including HSA

2 - Save [a crapton] of money in my Brokerage account (I know the number, but I'd rather not say)

2 STRETCH - Save [a crapton] + mortgage early paydown.
I'm actually looking to possibly refinance if it makes sense; we plan on staying in our home for years to come. The paydown would be on a rental property so that when it's paid off it increases cash flow. I'd then use that money to pay down our primary mortgage early. So, why is this "2 STRETCH" instead of goal 3? Because the money is not going to the mortgage itself. It's going in my brokerage because my timeline is still over 10+years and I like the liquidity.

3 - Get my wife's employer to include a 457. I found out last year that they don't have this option. If they opened one, it would be a governmental version which is awesome. I have a 457 plan for my job but it's non-governmental which makes it less attractive as the balance increases.

4 - Hit 5 figures for side hustle in a year - MAN IS THIS A STRETCH but hey, go big.

Personal goals
-Work out 4 times per week, average 1 hour per day
-Read one book per week on average
-Engage at least one quality social contact outside of work each month
-Complete one home maintenance/improvement task each month, no matter how small

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- :laffo:

definitely not the time to breach that subject. She barely got her contract renewed for the upcoming year.

4- :lol:

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.

# ? May 28, 2020 04:18

moana: Jun 18, 2005; one of the more intellectual satire communities on the web

moana posted:

2020 Goals
- Start volunteering at library (Feb)

This one makes me the saddest. We got a brand new library and it was open for like 2 weeks before everything exploded.

# ? May 28, 2020 10:22

Sock The Great: Oct 1, 2006; It's Lonely At The Top. But It's Comforting To Look Down Upon Everyone At The Bottom; Grimey Drawer

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

# ? May 29, 2020 21:31

drainpipe: May 17, 2004; AAHHHHHHH!!!!

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.

# ? May 30, 2020 13:07

uvar: Jul 25, 2011; Avoid breathing
radioactive dust.; College Slice

uvar posted:

Keep to the new budget/save $1200+ a month/spend less on junk food: YNAB stayed mostly up to date, but I didn't pay much attention to it because I'm still not bothering to buy much. Like last month I didn't reach the saving target due to lower monthly income (first payslip of the month halved due to the April-May break), but average for the year is still >$1200/mo, albeit a lot closer than it was last month. Got back into weight loss attempts so I feel like junk food has been reduced, but since I'm not splitting receipts so much anymore I can't know for sure.
Net worth of $85K: Retirement funds are back to where they were a few months ago, so this is up to $77.5K, about $3K up from last month. That's pretty much bang on my average monthly change for the last financial year and since I'm not spending any of it on a house this year I should hit this goal easily. Unless something happens to the economy again, of course.
Local/sustainable purchases: Barely, unless local franchises count. I guess they kinda do.
Get value from health insurance extras: Apparently the dentist is open again, so if I'm lucky I can squeeze in a visit this financial year. Ditto more contact lenses
Make use of my subscriptions: This one is too vague, goodbye
Start planning for retirement: Put it off again while debating house buying, and now I may as well wait one more month (which I keep saying), this time until after the yearly raise in early July.

# ? May 31, 2020 08:42

Omne: Jul 12, 2003; Orangedude Forever

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).

1. No new consumer debt. Shouldn't be too hard, but this will remain the main goal for 2020 to avoid getting into a worse position.
2. Get emergency fund back to $10k. Currently at $8k after using some of my extra December paycheck. Ultimate goal is $15k, but $10k is more realistic for 2020.
3. Student loan down to $5000. Currently at $7400 and some change, this will require a bit extra each month above my minimum payment, but my main goal is to have this paid off before my 40th birthday in November 2021.
4. Pay cash for Ireland. Taking my mom on her bucket list trip to Ireland in May. I paid for all flights and some hotels with points, and should have $3k cash before we leave, should be plenty.
5. Begin saving up for my next car. My lease is up in May 2021, so I've got time but need to start putting money aside for this.
6. Stretch: earn side income. Need to brainstorm on this one, but it'd be great to diversify my income a bit.

Non Financial Goals
1. Build a network. I've lived here for just over two years, and I don't know anyone outside of my work. Not good for my social life.
2. Run 750 miles. I basically took 2019 off from serious running, so I'm looking forward to working towards some of my longer term goals with running.
3. Organize the drat bonus room. We paid a lot of money for it and it's currently being used for storage. I want my space!
4. Read 20 books.
5. Go to the gym 2x per week.

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.

# ? May 31, 2020 15:10

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

KYOON GRIFFEY JR posted:

yeah i think my updated goals are

1a) Don't die so far
1b) wife don't die either so far
1c) don' t kill each other so far
2) Keep Job Success, with salary deferral but still!
3) Go outside every day Success!
4) Do some inside non-screen hobby every day Not Success!
5) Run 3-4x week Success!
6) wife graduate and not go insane in progress!

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

# ? Jun 1, 2020 13:13

Good-Natured Filth: Jun 8, 2008; Do you think I've got the goods Bubblegum? Cuz I am INTO this stuff!

May update

2020 Financial Goals:

~~Max our Roth IRAs~~
Meet company match on 401k and HSA On Track
50/month into kids' 529s On Track
Consolidate my various HSA funds from previous employers into a single place that doesn't suck
Transfer my final prior employer 401k into Vanguard
Help my wife make money on Etsy My wife has made masks for our family and for friends. I've told her they're very good (not just spousal support - they are comfortable and look nice), and she should just start an Etsy store. She's very worried about being judged by strangers, so I'm trying to help her work through that and jump in.
Plan a family Disney trip and save appropriately This is still in discussion, but money is being saved.

2020 Personal Goals:

Take at least 1 vacation day per month A big project at work ended, so I took a personal day as a celebration. Played video games most of the day, and it was great.
Make a piece of software that is mine
Clean up the basement Continual slow progress.
Help my wife clean the house one night a week On Track
Keep good sleep habits Starting this up again.

# ? Jun 1, 2020 15:10

spinst: Jul 14, 2012

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. ~~By the end of 2020, have made at least 1 extra mortgage payment.~~ Met! Stretch goal: 2 extra mortgage payments.

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!

# ? Jun 29, 2020 18:20

Potrzebie: Apr 6, 2010; I may not know what I'm talking about, but I sure love cops! ^^ Boy, but that boot is just yummy!; Lipstick Apathy

Q2 over! Alive and socially starving. Woop.

Potrzebie posted:

Goals for 2020:

The car will be sold as soon as we've replaced the battery. We first sold it to my parents, but mums rapid decline ment that they had 0 use for it and so we unsold it.
-No. With corona wreaking everything we're keeping the car for now so that we can travel when needed. No one wants to buy it anyway.
keeping car some more

Gonna keep not buying lunches during work days 2020.
-So far so good. Did pay for one lunch to see off my boss who is currently on parental leave.
and another one on my last day at work

Keep a savings ratio of 30+% take home pay, aim for 40+%. Not counting pension savings as they are mandatory in Sweden, also not counting the additional pension savings that is part of my employment benefits.
-So far so good. Been socking away around 40%.
not going to make it, see below

Do a good. I'm going to raise money for the Swedish blood cancer fund, hoping to raise $2000 for the year.
-This started off spectacularily. Met my goal for the year in q1.
at $3000 so far

Keep running to and from work erry day. This saves money like hell on car/buss pass.
-Almost 1200k ran so far this year.
2500 kms ran so far. No bus pass

Replace the main fuses to the house. We're over-fused and that is just stupid as the utilities company charges us extra for a thing we don't need.
-I keep forgetting to do this.
see above. D'oh!

And lastly, get a substantial raise. 2019 I got 0% raise and that is bullshit. Get a raise or get a new job with better pay.
-FAIL. They suggested a paltry "raise" that was not even at inflation rate. Managed to convey the message that if they really don't appreciate my work neither of us should be interested in me staying. Got a lame 2% raise. Plan to take time off work to go back to school and study IT project management, but in these times so might 20.000 others poor sods who lost their jobs so who knows if I'll get in. We'll see. So far employed and not hating it. Not going to risk anything in this economic climate.

got accepted! Starting in mid August I'm going back to school for three semesters. Then I'll be rich, surely! This means 0 savings for the rest of the year as I'll have 0 income, only accumulation of debt.

# ? Jun 29, 2020 20:44

Doccykins: Feb 21, 2006

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
:grovertoot:

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 :effort:

# ? Jun 30, 2020 13:51

Residency Evil: Jul 28, 2003; 4/5 godo... Schumi

2020 Halfway Update:

Current State
- ~~Wife's student loans: 65k left at 1.9%~~ :toot:

- My student loans: 170k, eligible for PSLF in 3 years. Currently 0% interest, no payments until September.
- ~~1 car loan, 22k @ 3%~~ :toot:

- Mortgage on a 15 year fixed at 3%
- Emergency Fund Funded.

Financial Goals for 2020
- ~~Pay off my wife's student loan ASAP with savings (separate from emergency fund): should be done by February.~~ :toot:

- ~~Pay off car loan ASAP~~ :toot:

- 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? :toot:

- Continue maxing out our 401ks/457s - On autopilot
- Continue maxing out our HSA - On autopilot
- Annual recertification of PSLF in September

New Goal:
Figure out if I want to change jobs in the middle of a pandemic, which would immediately result in 1/3 salary increase, potential for 2x my current salary, with the caveat that lol jesus christ is now really the time? Ended up turning down this job. Got a bit of a bonus/raise at my current job, if our system breaks even. Will re-evaluate next year?

Residency Evil fucked around with this message at 18:26 on Jun 30, 2020

# ? Jun 30, 2020 18:17

uvar: Jul 25, 2011; Avoid breathing
radioactive dust.; College Slice

uvar posted:

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.

Keep to the new budget/save $1200+ a month/spend less on junk food: Oh god I'm so sick of supermarket receipts. Still snacking, pretty sure the pizza guy remembered me last time so I can't go back there for a while. Good news: spent $1700, saved $2200, average saved is back up to $1500.
Net worth of $85K: I made a mistake with numbers last month but nothing important. This time, up nearly $4K to ~$81K. Blimey. Maybe $100K this year isn't so impossible after all.
Local/sustainable purchases: Chalk one up for sustainability because I don't seem to have spent any money locally that wasn't food, travel or work-related, and I don't seem to have ordered anything physical online either. Wow. Too bad for local businesses though.
Get value from health insurance extras: Nothing for an entire six months, I'm a moron. Could have squeezed in some contacts or a dental appointment before the financial year reset but I never got around to it. Maybe this month?
~~Start planning for retirement~~ Increase retirement savings rate: Still waiting till my auto-"promotion" which should happen on the next paycheck or two. Hello Level 2 Salary Point 4!!

# ? Jul 1, 2020 10:37

Sock The Great: Oct 1, 2006; It's Lonely At The Top. But It's Comforting To Look Down Upon Everyone At The Bottom; Grimey Drawer

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

# ? Jul 1, 2020 12:32

Pipistrelle: Jun 18, 2011; Seems the high horse is taking them all home

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

~~1. Get house emergency fund to $10,000 by April~~ Done

~~2. Get personal emergency fund to $15,000 by July~~
Done

~~3. Fully fund Roth IRA by October 30~~
Done

4. Contribute at least $5000 to 401(k) by EOY
Current: $1067
I enrolled in my new work�s 401(k), so money should start getting pulled out from my next check.

5. Get HSA to $1000 by EOY
Current: $90
I also enrolled in my new gig�s HSA, so this should start up again with my next paycheck.

Non-Financial Goals

1. Stop eating out so drat much
Doing pretty well on this one. We�re still not going out to restaurants and we�ve upped how much we�re eating at home.

2. Do yoga 5 days a week
This goal took a hit; I�m gonna try and get back into it and build up a habit again.

~~3. Join a bouldering gym once I�m more in shape~~
I�m just going to take this goal off of the list. I don�t see that I will be comfortable going to a gym this year with everything that�s going on.

# ? Jul 1, 2020 14:19

Good-Natured Filth: Jun 8, 2008; Do you think I've got the goods Bubblegum? Cuz I am INTO this stuff!

June update

2020 Financial Goals:

~~Max our Roth IRAs~~
Meet company match on 401k and HSA On Track
50/month into kids' 529s On Track
Consolidate my various HSA funds from previous employers into a single place that doesn't suck
Transfer my final prior employer 401k into Vanguard
Help my wife make money on Etsy Still encouraging her to just go for it.
~~Plan a family Disney trip and save appropriately~~ Shifted some unallocated cash around, and money is saved.

2020 Personal Goals:

Take at least 1 vacation day per month June was weird with projects, so I had a lot of downtime. Never a full day, but enough slacking that it felt weird to take PTO for no reason.
Make a piece of software that is mine I've been messing around with my RetroPie setup and have customized it a lot. It feels good to tinker again.
Clean up the basement Faltered on progress this month.
Help my wife clean the house one night a week On Track
Keep good sleep habits I'm getting better again. Getting up consistently will always be the hardest part.

# ? Jul 2, 2020 12:35

crazypeltast52: May 5, 2010

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.

# ? Jul 21, 2020 22:36

moana: Jun 18, 2005; one of the more intellectual satire communities on the web

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.

Personal as in not financial, or including financial goals? I would say for financial goals, just make sure that they are something you can control - what percent you save for retirement, not net worth. SMART goals - specific, measurable, achievable, relevant, time-bound. Break big goals into smaller goals that are action items you can accomplish in a short timeframe.

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.

# ? Jul 22, 2020 05:54

cheese eats mouse: Jul 6, 2007; A real Portlander now

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!

# ? Jul 22, 2020 22:26

emtoor: Feb 11, 2010

cheese eats mouse posted:

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!

Nice man. Good work.

# ? Jul 27, 2020 06:41

Doccykins: Feb 21, 2006

Doccykins posted:

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

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
:grovertoot:

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 :grovertoot:

# ? Jul 31, 2020 13:49

uvar: Jul 25, 2011; Avoid breathing
radioactive dust.; College Slice

uvar posted:

Keep to the new budget/save $1200+ a month/spend less on junk food:Didn't have too many pizzas, still had plenty of other junk food, budget was variable but overall +1350 which is fine.
Net worth of ~~$85K~~ $100K: 81K to 84.5K, a little bit of everything - bank, remaining shares, retirement savings. The company my shares are with has postponed their strategic plans - they were going to drop the USD-AUD transfer fees and introduce optional subscription tiers - but the fees really aren't that big and the US sharemarket is total nonsense these days. I should probably sell up.
Local/sustainable purchases: I had a short holiday while the real tourists are banned, spent a bit at local shops, but bought a load of books and gifts online. On the other hand, new bullet below...
Get value from health insurance extras: Still nothing. Chalk this one up to brain worms
~~Start planning for retirement~~ Increase retirement savings rate: In progress, I'll see if it's gone through next fortnight
Buy a bike: The weather is getting nicer here (southern hemisphere) and this year I haven't been enthusiastic about jogging. I'm surviving off an ancient department store bike but I think I'll get something new from the local bike shop. Good bikes are pricier than I realised, total cost including accessories will be around $1000 (uh, 700USD?) but everyone else had the same idea and shipping is still crazy so he's out of stock until at least September. That means I have time to pretend-budget and decide if it's an impulse purchase. At the start of this year I had "buy an electric bike" as a possible goal but those are just too expensive, especially when I don't know how invested I am in cycling.

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.

I got way into Getting Things Done in university and come back to it occasionally. I wouldn't recommend it overall, but it has useful parts. https://gettingthingsdone.com/2011/01/the-6-horizons-of-focus/ and https://www.dandywithlens.com/gtd-horizons-of-focus-get-started/ are overviews of the bigger goal stuff that hopefully make some sense by themselves. Ed: https://www.jayblanco.com/blog/2016/3/9/cwggujsfd2v7orkdx815k1h1l7uvo3 is maybe a better example of personal goals, though I don't really like how he's organising it.

# ? Aug 1, 2020 01:26

crazypeltast52: May 5, 2010

Thanks moana and uvar!

Hoping to come back to the thread with some goals later in the year.

# ? Aug 1, 2020 06:03

Sock The Great: Oct 1, 2006; It's Lonely At The Top. But It's Comforting To Look Down Upon Everyone At The Bottom; Grimey Drawer

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

# ? Aug 1, 2020 12:49

spinst: Jul 14, 2012

July Update

1. Increase net worth from 173k to 205k.

181.8k. RIP net worth goals.

2. ~~Increase emergency fund from 12k to 14k.~~ Met!

14k

3. Contribute $3.1k to Roth IRA.

$1820. On track.

4. ~~By the end of 2020, have made at least 1 extra mortgage payment.~~ Met! Stretch goal: 2 extra mortgage payments.

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.

# ? Aug 1, 2020 19:47

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

People whose net worth took a hit this year - did you sell stuff? Seems like my accounts are now up YTD?

# ? Aug 1, 2020 21:43

balancedbias: May 2, 2009; $$$$$$$$$

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.

# ? Aug 1, 2020 22:53

Pipistrelle: Jun 18, 2011; Seems the high horse is taking them all home

July Update:

Financial Goals

1. ~~Get house emergency fund to $10,000 by April~~ Done

2. ~~Get personal emergency fund to $15,000 by July~~
Done

3. ~~Fully fund Roth IRA by October 30~~
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 ~~$1000~~ $500 by EOY
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

# ? Aug 2, 2020 15:36

Doccykins: Feb 21, 2006

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)

# ? Aug 2, 2020 15:38

Good-Natured Filth: Jun 8, 2008; Do you think I've got the goods Bubblegum? Cuz I am INTO this stuff!

July update

2020 Financial Goals:

~~Max our Roth IRAs~~
Meet company match on 401k and HSA On Track
50/month into kids' 529s On Track
Consolidate my various HSA funds from previous employers into a single place that doesn't suck
Transfer my final prior employer 401k into Vanguard
Help my wife make money on Etsy Still encouraging her to just go for it.
~~Plan a family Disney trip and save appropriately~~

2020 Personal Goals:

Take at least 1 vacation day per month I took a day off to paint walls and put furniture together (see below).
Make a piece of software that is mine
Clean up the basement Focused our free time on getting my son out of the nursery. He climbed out of his crib, which prompted it to happen sooner than planned.
Help my wife clean the house one night a week On Track
Keep good sleep habits I'm getting better again. Getting up consistently will always be the hardest part.

# ? Aug 3, 2020 03:56

cheese eats mouse: Jul 6, 2007; A real Portlander now

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

KYOON GRIFFEY JR: Apr 12, 2010; Runner-up, TRP Sack Race 2021/22

KYOON GRIFFEY JR posted:

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

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 :d2a:

# ? Aug 3, 2020 18:28

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# ? Apr 29, 2024 05:23

spinst: Jul 14, 2012

August Update :arghfist:

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. ~~By the end of 2020, have made at least 1 extra mortgage payment.~~ Met! Stretch goal: 2 extra mortgage payments.

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!

# ? Aug 31, 2020 06:14

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Financial Goals 2020: Naming Rights to Thread Available

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