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2020 Financial Goals - Increase cash/emergency fund to $38,000 - Fully fund both mine and my wife 2020 Roth IRA's. - Deposit $50 / week into a "fun" money taxable account invested 100% into VOO. Currently stands at around $10,500. Thinking about long term, fun goals for this money. Hawaiian vacation in 2025? - Pay off our second vehicle. Currently $7,200 @ 4.25%. - Increase net worth to $358,000 Current assets are: $35,000 in cash $53,000 in taxable investments $412,000 in property (real estate and vehicles) $85,000 in retirement accounts (401k + Roth IRA's) Total = $585,000 Current liabilities are: $7,200 (@4.25%) for a car $2,000 in credit card (paid off every month) $1,295 on iPhone upgrade program $261,600 on my mortgage (@3.75%) Total = $272,000 Net Worth = $313,000 A 12.5% increase in net worth seems lofty, but might as well aim high. 2020 Personal Goals - Take two consecutive weeks of vacation. I am very fortunate and have 7 weeks of PTO, which I never actually use. - Do 100 consecutive pushups. Currently at 15. - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Sock The Great fucked around with this message at 18:51 on Jan 3, 2020 |
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Jan 3, 2020 17:35
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2020 Financial Goals (January Update) - Increase cash/emergency fund to $38,000 Currently at $32,358. Had a couple of unexpected expenses this month. My neighbor asked me to contribute $500 towards removing a couple trees on the property line and my wife and I decided to have our basement ceiling painted, $700. - Fully fund both mine and my wife 2020 Roth IRA's. Mine will be fully funded by July, wife's next January - Deposit $50 / week into a "fun" money taxable account invested 100% into VOO. Currently stands at around $10,500. Thinking about long term, fun goals for this money. Hawaiian vacation in 2025? Still rocking and rolling - Pay off our second vehicle. Currently $7,200 @ 4.25%. On track, am making the minimum payment until December, then paying off the balance, which should be $4,500, in December - Increase net worth to $358,000 Decided that this was not the best metric, since so much is tied to market performance, but I'm shooting for this anyways Current assets are: $32,358 in cash $55,653 in taxable investments $410,315 in property (real estate and vehicles) $87,651 in retirement accounts (401k + Roth IRA's) Total = $585,977 Current liabilities are: $6,990 (@4.25%) for a car $3,890 in credit card (paid off every month) $1,146 on iPhone upgrade program $260,624 on my mortgage (@3.75%) Total = $272,650 Net Worth = $313,327 (+$327 from January 1, 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 - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Read 10 books in January, I will probably end up reading ~75 books this year
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Feb 3, 2020 19:40
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2020 Financial Goals (February Update) Obviously February was a terrible month for net worth goals. UPDATE: Haven't changed my strategy at all. - Increase cash/emergency fund to $38,000. UPDATE: Currently at $30,796. - Fully fund both mine and my wife 2020 Roth IRA's. Mine will be fully funded by June, wife's in November. UPDATE: Accelerated this schedule a little bit because I did my taxes a little earlier this year. - Deposit $50 / week into a "fun" money taxable account invested 100% into VOO. Currently stands at around $10,100. Thinking about long term, fun goals for this money. Hawaiian vacation in 2025? Still rocking and rolling. UPDATE: I'll continue to do this through this correction / crash / apocalypse. - Pay off our second vehicle. Currently $7,200 @ 4.25%. On track, am making the minimum payment until December, then paying off the balance, which should be $4,500, in December - Increase net worth to $358,000 Decided that this was not the best metric, since so much is tied to market performance, but I'm shooting for this anyways. This latest hiccup probably makes this unreachable. No worries, I'll just keep chugging along. Current assets are: $30,796 in cash $51,176 in taxable investments $408,341 in property (real estate and vehicles) $85,896 in retirement accounts (401k + Roth IRA's) Total = $576,209 Current liabilities are: $6,765 (@4.25%) for a car $2,208 in credit card (paid off every month) $1,083 on iPhone upgrade program $260,148 on my mortgage (@3.75%) Total = $270,204 Net Worth = $306,005 (-$7,322 from February 1, 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 - Read 50 books. Read 53 in 2019, but I still feel that 50 is enough. Read 8 books in February, I will probably end up reading ~75 books this year
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Mar 2, 2020 14:21
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hot cocoa on the couch posted:What's up with the very large emergency savings accounts some of you have? Is that an American thing or do some of you guys just have enormous monthly obligations? I can't imagine keeping over 30k in cash or cash-like deposits A six month emergency fund for my household would be about $15 -$18,000 ($1,700 / mo mortgage + utilities, groceries, etc for a family of 4.). The remaining amount is because I am fairly confident that I am going to need to replace my vehicle in the next 12 - 18 months, which accounts for a most of the large amount of cash I have at the moment (budget $18k - 20k).
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Mar 2, 2020 16:43
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2020 Financial Goals (March Update) Yes, I am way behind on getting to this update. March was obviously a crazy month. I got furloughed on March 23, then called back to work on March 26. I am in sales of injection molding machines and robotics; and it turns out this type of equipment is in high demand for PPE manufacturing. Somehow this possibility was lost on our management team, now April is slated to be our best month in a few years. Needless to say between business being totally crazy, working from home with a wife and two kids, I haven't been reading much SA. I did end up changing my strategy a bit. I had some inherited AT&T stock from my grandfather which I sold, not the best timing but I've had this since 1999 so I still made some decent money, Onto my March 2020 update, all numbers are from March 27, 2020: - Increase cash/emergency fund to $38,000. UPDATE: Currently at $23,540 - Fully fund both mine and my wife 2020 Roth IRA's. Mine will be fully funded by June, wife's in November. UPDATE: My IRA will still be fully funded in June. We may back down on fully funding my wife's this year. With my 401k, my fully funded IRA, and a $40/week contribution to my wife's IRA we are still putting 15% a year into retirement accounts - Deposit $50 / week into a "fun" money taxable account invested 100% into VOO. Currently stands at around $10,100. Thinking about long term, fun goals for this money. Hawaiian vacation in 2025? Still rocking and rolling. UPDATE: I'll continue to do this through this correction / crash / apocalypse. - Pay off our second vehicle. Currently $7,200 @ 4.25%. On track, am making the minimum payment until December, then paying off the balance, which should be $4,500, in December - Increase net worth to $358,000 Decided that this was not the best metric, since so much is tied to market performance, but I'm shooting for this anyways. This continued situation makes this unreachable. No worries, I'll just keep chugging along. Current assets are: $23,540 in cash $49,064 in taxable investments $407,294 in property (real estate and vehicles) $47,899 in retirement accounts (401k + Roth IRA's) Total = $554,797 Current liabilities are: $6,765 (@4.25%) for a car $1,285 in credit card (paid off every month) $1,020 on iPhone upgrade program $260,141 on my mortgage (@3.75%) Total = $269,275 Net Worth = $285,522 (-$20,483 from March 1, 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 5 books in March, I will probably end up reading ~75 books this year [/quote]
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Apr 21, 2020 12:57
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2020 Financial Goals (April 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 on track - 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: $24,695 in cash $55,093 in taxable investments $416,918 in property (real estate and vehicles) $88,084 in retirement accounts (401k + Roth IRA's) Total = $584,790 Current liabilities are: $6,132 (@4.25%) for a car $991 in credit card (paid off every month) $1,020 on iPhone upgrade program $259,150 on my mortgage (@3.75%) Total = $267,293 Net Worth = $317,497 (-$1,794 YTD / +$21,360 from March 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 3 books in April, I will probably end up reading ~75 books this year
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May 1, 2020 12:58
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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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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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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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2020 Financial Goals (August 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 just barely. - 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 - Done Current assets are: $25,194 in cash (7/31 was $33,638, paid off my wife's car and paid for our vacation in August) $67,002 in taxable investments (7/31 was $60,658) $421,667 in property (real estate and vehicles) / (7/31 was $435,148) $109,890 in retirement accounts (401k + Roth IRA's) / (7/31 was $102,020) Total = $623,753 (7/31 was $631,664) Current liabilities are: $2,543 in credit card (paid off every month) $771 on iPhone upgrade program $257,707 on my mortgage (@3.75%) Total = $261,021 Net Worth = $362,732 (7/31 was $366,059) (+$49,432 YTD / - $3,327 from 7/31) Most (all?) of this drop is due to the decrease in the estimated value of my home. If I run the same calculation, omitting all property, then I was + ~$9,500 for August 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. Took a full week in August. Need to use ~23 more days this year with nothing planned at the moment. - 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 (Clean Hands, The Total Money Makeover, The Rich Employee, Complete Guide to Software Development) in August, I will probably end up reading ~60 books this year Sock The Great fucked around with this message at 21:29 on Aug 31, 2020 |
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Aug 31, 2020 21:24
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2020 Financial Goals (September 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 just barely. - 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 - Done Current assets are: $30, 410 in cash (was $25,194 on 8/30) $64,991 in taxable investments (was $67,002 on 8/30) $428,430 in property (was $421,667 on 8/30) $108,672 in retirement ( was $109,890 o n 8/30) Total = $632,503 (was $623,753 on 8/30) Current liabilities are: $6,420 in credit card (paid off every month) $711 on iPhone upgrade program $257,215 on my mortgage (@3.75%) Total = $264,346 Net Worth = $368,156 (was $362,732 on 8/30) (+$55,337 YTD / + $5,424 from 8/30) Most (all?) of this drop is due to the decrease in the estimated value of my home. If I run the same calculation, omitting all property, then I was + ~$9,500 for August 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. Took a full week in August. Need to use ~23 more days this year with nothing planned at the moment. - 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 (My Life in Advertising, The Three Body Problem, and The Dark Forest) in September, I will probably end up reading ~60 books this year
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Oct 2, 2020 02:16
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2020 Financial Goals (October 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. - 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 - Done Current assets are: $33,317 in cash (was $30,410 on 9/30) $66,252 in taxable investments (was $64,991 on 9/30) $430,270 in property (was $428,430 on 9/30) $108,453 in retirement ( was $108,672 o n 9/30) Total = $638,292 (was $623,753 on 8/30) Current liabilities are: $8,976 in credit card (paid off every month) $650 on iPhone upgrade program $256,715 on my mortgage (@3.75%) Total = $266,841 Net Worth = $371,451 (was $368,156 on 9/30) (+$57,120 YTD / + $3,295 from 9/30) In the process of refinancing my mortgage, so I am carrying a bit more cash than usual to cover closing costs. 2020 Personal Goals - Take two consecutive weeks of vacation. I am very fortunate and have 7 weeks of PTO, which I never actually use. Took a full week in August. Need to use ~15.5 more days this year with nothing planned at the moment. My employer has offered to buy some time back from me, so I should cash an unexpected $3,000 check sometime before the end of the year. - 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 (Death's End, The $100 Start Up, and Wherever You Go There You Are) in October, I will probably end up reading ~60 books this year [/quote]
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Oct 30, 2020 21:05
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2020 Financial Goals (November 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. - 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 - Done Current assets are: $28,506 in cash (was $33,317 on 10/30) $76,641 in taxable investments (was $66,252 on 10/30) $445,039 in property (was $430,270 on 10/30) $122,671 in retirement ( was $108,453 on 10/30) Total = $672,857 (was $638,292 on 10/30) Current liabilities are: $4,861 in credit card (paid off every month) $1,398 on iPhone upgrade program $263,092 on my mortgage (@2.99%, closed on a refinance this month) Total = $269,351 Net Worth = $403,506 (was $371,451 on 10/30) (+$55,029 YTD) Passed a pretty significant milestone this month. Since keeping up with the Long Term Investing and the Financial Goals thread (started 9/2018) I have increased my net worth (not counting real estate) by more than $100,000; if I count the appreciation on my home then it's over $130,000. All of these gains are only on paper, but I know I am on the right track.
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Nov 30, 2020 22:11
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2020 Financial Goals (December / Year End 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. - 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 - Done Current assets are: $38,738 in cash (was $28,506 on 11/30) $79,950 in taxable investments (was $76,641 on 11/30) $454,483 in property (was $445,039 on 11/30) $129,583 in retirement ( was $122,671 on 11/30) Total = $702,754 (was $672,857 on 11/30) Current liabilities are: $5,090 in credit card (paid off every month) $1,398 on iPhone upgrade program $262,497 on my mortgage (@2.99%) Total = $268,926 Net Worth = $433,828 (was $403,506 on 11/30) (+$75,312 YTD)
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Dec 29, 2020 22:15
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