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The last time I did this was 2017, we've mostly been following the various BFC and /r/PersonalFinance wisdom since 2015 or so, which took us from -68K in debt to where we are now. Thanks everyone! I was really worried about merging my finances in 2019 with my wife but as we both dug deeper in to our stuff and merged into various joint accounts we realized we had the same priorities so everything was fine. 2020 Goals Current savings: -50K liquid emergency fund -40K liquid rolling budget for next 3 months *We do the whole YNAB "today's money into the future" and we're happy to leave it at three months and budget any overflow on our savings goals -5K vacation fund -7K misc. savings (car, computer, dog funds) -5K house downpayment fund -107K total Current debts: -None Net worth: -360K in various retirement vehicles (401Ks, IRAs, HSAs) Overall income: -Me: 170K/yr + 50K bonus -Wife: 85K/yr Financial Plan: - (Q1, Q2) Max my/wife 401ks - (Q1) Max my/wife IRAs - (Q2) Get net worth to 400K *Planning to accomplish this with either market appreciation or my Q1 bonus if the market shits the bed - (Q4) Max family HSA *Runs all year due to the way company matches - (Q4) Keep building house downpayment to 100K *Currently 5K but we just started saving, high COL area - (All Year) Maintain 6mo (50K) Emergency Fund Other: - Do not make a baby, do that next year - Look into a backdoor ROTH - Look into a new job for 2021 *My current job is great and very stable, but they are starting to cut raises to 1-2%/yr which has me concerned about my long term earning potential (I am in my mid 30s), I also have some stock vesting in 2021 and 2022 so I might need to hang around for that depending on what's out there. Our IT job market is so competitive some employers have been offering sign-on bonuses to replace the lost stock.
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Jan 2, 2020 16:42
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| # ¿ May 14, 2024 09:07 |
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