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Some attributes about our household situation for context. Married. Wife and I are both 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 3 and 6. She is a school teacher and I am a project engineer. January Update: Assets Total Cash = $29,656 Total Investments = $80,678 Total Property = $464,162 Total Retirement = $142,652 Total Assets = $717,138 Liabilities Total Credit Card = $4,781 (PIF every month) Total Other = $1,281 (iPhone upgrade program) Total Mortgage = $262,043 Total Liabilities = $268,105 Net Worth = $449,033 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Currently at $0/$10,000 for 2021. - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so) - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Jan 30, 2021 16:24
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Some attributes about our household situation for context. Married. Wife and I are both 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 3 and 6. She is a school teacher and I am a project engineer. February Update: Assets Total Cash = $33,145 (+ $3,489) Total Investments = $87,433 (+ $6,755) Total Property = $472,054 (+ $7,892) Total Retirement = $147,163 (+ $4,511) Total Assets = $739,795 (+ $22,657) Liabilities Total Credit Card = $6,253 (PIF every month) Total Other = $1,223 (iPhone upgrade program) Total Mortgage = $261,588 Total Liabilities = $269,588 Net Worth = $470,731 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Currently at $1,000/$10,000 for 2021. - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Feb 26, 2021 23:14
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moana posted:Do you already have insurance covered - term life for both of you, disability, maybe umbrella insurance? And do you have basic estate planning set up, at the very least for guardianship for your kids? If not, I would add those as financial goals to your list. We have term life, although not enough ($400,000 for me and $100,000 for my wife). It’s been on my mind to increase this for some time. No disability insurance and I consider an umbrella policy every year when my home/auto comes up for renewal. Just never seen the value. Estate planning is set up, wife and I both have our wills set up.
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Feb 27, 2021 00:52
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Some attributes about our household situation for context. Married. Wife and I are both 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 3 and 7. She is a school teacher and I am a project engineer. March Update: Assets Total Cash = $40,215 (+ $7,070) Total Investments = $96,168 (+ $8,735) Total Property = $485,296 (+ $13,242) Total Retirement = $153,184 $147,163 (+ $6,021) Total Assets = $774,863 (+ $35,068) Liabilities Total Credit Card = $7,849 (PIF every month) Total Other = $1,164 (iPhone upgrade program) Total Mortgage = $260,675 Total Liabilities = $268,828 Net Worth = $506,035 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Currently at $5,200/$10,000 for 2021. - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Apr 5, 2021 19:07
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Some attributes about our household situation for context. Married. Wife and I are both 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 3 and 7. She is a school teacher and I am a project engineer. April Update: Assets Total Cash = $38,993 (- $1,322) Total Investments = $102,242 (+ $6,074) Total Property = $496,071 (+ $10,775) Total Retirement = $159,119 (+ $5,935) Total Assets = $796,425 (+ $21,562) Liabilities Total Credit Card = $6,328 (PIF every month) Total Other = $1,106 (iPhone upgrade program) Total Mortgage = $260,675 Total Liabilities = $267,434 Net Worth = $528,991 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Currently at $8,930/$10,000 for 2021. - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Apr 30, 2021 21:33
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Some attributes about our household situation for context. Married. I am 36, wife is 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 4 and 7. She is a school teacher and I am a project engineer. May Update: Assets Total Cash = $52,289 (+ $13,296) Total Investments = $94,461 (- $7,781) Total Property = $496,268 (+ $197) Total Retirement = $160,364 (+ $1,245) Total Assets = $803,382 (+ $6,957) Liabilities Total Credit Card = $9,780 (PIF every month) Total Other = $990 (iPhone upgrade program) Total Mortgage = $260,216 Total Liabilities = $270,126 Net Worth = $533,256 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Maxed out this month ($10,000/$10,000) - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. Also booked 8 days in Mexico this June. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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May 28, 2021 21:34
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Loan Dusty Road posted:First, sounds like you guys are doing awesome! Is this gross income? If so I’m in a similar situation as you but would love to be able to contribute to a 529 or even have your cash position. Would you mind sharing your budget if you use one? Thanks! Yes, this is gross income. After taxes, health insurance, retirement contributions etc, our annual take home pay is just over $95,000. We do run a pretty strict monthly budget / spending plan. Although it differs from month to month, this is what an average month looks like. - Mortgage = $1,940. This is offset by the rent ($500/mo) my MIL pays me each month, makes makes this $1,440. We added an inlaw apartment for her after her husband passed a few years ago. She only lives with us 8 or 9 months per year, but pays rent for the whole year. - Cleaning lady = $120. An indulgence, but an absolute life saver. - Various streaming services = $90 - Daycare for my 4 year old = $860. This is, thankfully, ending this month. My wife is a teacher so she will be home for the summer and will start the at the public daycare in town in the fall. - Groceries = $520. Seems very tight for a family of 4, but we make it work. We really only shop at Aldi and grow a lot of our own vegetables. - Gas = $300. Rarely spend this much nowadays since I am working from home, but I will be going to the office a little more this summer. - Internet = $95 - Electric Bill = $200, much higher in the summer. Lower in the winter, this is about the average. - Home heating oil = $75. I fill my tank 2.5 - 3 times per year at around $300 per fill. - Amazon = $150. Somehow we seem to spend around this much on Amazon every month. - Entertainment = $260. Takeout, video games, day trips, lunch with co workers etc. - iPhone = $58, iPhone upgrade program - Water = $40 - Phone service = $92 - Incidentals = $700 - 900 / month. Very rarely spend this much, but this is reserved for any unforeseen expenses or household repairs which I cannot do myself. We own both our cars and student loans have been paid off for a few years now. I budget somewhere between $8,000 - $10,000 per year for vacations. We are going to Mexico later this month and a week at Cape Cod in August. Still have $3,100 left in the budget for the year. My current cash position breaks down as follows: Checking Acct Joint $3,071 Savings accounts $23,512 Ultimate Rewards Points $738 Cash in brokerage acct $18,677 Escrow $6,523 Petty Cash $200 Dapper $1,090 (I got a bit lucky on NBA TopShot in February before the market crashed) Total = $53,811 Sock The Great fucked around with this message at 13:35 on Jun 3, 2021 |
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Jun 3, 2021 13:16
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Some attributes about our household situation for context. Married. I am 36, wife is 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 4 and 7. She is a school teacher and I am a project engineer. June Update: Assets Total Cash = $52,318 (+ $29) Total Investments = $100,298 (+ $5,837) Total Property = $516,820 (+ $20,552) Total Retirement = $163,893 (+ $3,529) Total Assets = $833,329 (+ $29,947) Liabilities Total Credit Card = $5,687 (PIF every month) Total Other = $992 (iPhone upgrade program) Total Mortgage = $259,757 Total Liabilities = $266,376 Net Worth = $566,953 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Maxed out this month ($10,000/$10,000) - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. Had an awesome 8 day trip to Mexico in June. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Jul 1, 2021 12:50
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Some attributes about our household situation for context. Married. I am 36, wife is 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 4 and 7. She is a school teacher and I am a project engineer. July Update: Assets Total Cash = $48,978 (- $3,340) Total Investments = $104,113 (+ $3,815) Total Property = $520,020 (+ $3,200) Total Retirement = $166,028 (+2,165) Total Assets = $839,139 (+ $5,810) Liabilities Total Credit Card = $9,814 (PIF every month) Total Other = $874 (iPhone upgrade program) Total Mortgage = $259,297 Total Liabilities = $269,985 Net Worth = $569,154 Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT). Maxed out this month ($10,700/$10,000). Threw in some extra cash on hand in July. - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Booked a week in Cape Cod, total price $2,700. Had an awesome 8 day trip to Mexico in June. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Aug 1, 2021 14:45
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August was a very expensive month! I needed to have my central A/C replaced and bought a new car (my 2011 Mercedes needed about $3k worth of work to pass emissions). Bought a CPO 2021 Jetta (2,400 miles) in cash (sold some stock and took a little out of savings to pay for it) Some attributes about our household situation for context. Married. I am 36, wife is 35. Household income of about $134,000. We reside in Connecticut, so taxes are pretty high. We have two children ages 4 and 7. She is a school teacher and I am a project engineer. August Update: Assets Total Cash = $43,373 (- $5,605) Total Investments = $100,731 (- $3,382) Total Property = $537,000 (+ $16,980) Total Retirement = $170,475 (+ $4,447) Total Assets = $853,579 (+ $14,440) Liabilities Total Credit Card = $15,887 (PIF every month) Total Other = $816 (iPhone upgrade program) Total Mortgage = $258,835 Total Liabilities = $275,538 Net Worth = $578,041 (+ $8,887) Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT contributed $11,200/$10,000 thus far) - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Had an awesome 8 day trip to Mexico in June and an unexpectedly great time at Cape Cod. No other travel planned for this year. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot.
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Aug 31, 2021 21:33
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August Update: Assets Total Cash = $42,873 (- $4,500) Total Investments = $98,567 (- $2,164) Total Property = $535,000 (- $2,000) Total Retirement = $165,149 $170,475 (- $5,326) Total Assets = $841,889 (- $11,690) Liabilities Total Credit Card = $7,619 (PIF every month) Total Other = $758 (iPhone upgrade program) Total Mortgage = $258,372 Total Liabilities = $266,749 Net Worth = $575,749 $578,041 (- $2,335) Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT contributed $11,680/$10,000 thus far) - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Had an awesome 8 day trip to Mexico in June and an unexpectedly great time at Cape Cod. No other travel planned for this year. Still have about $2,800 left in my travel budget for the year. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot. UPDATE: I increased my 401k contribution from 6% to 9%
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Sep 30, 2021 22:01
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October Update Assets Total Cash = $44,206 (+ 1,333) Total Investments = $106,713 (+ $8,146) Total Property = $531,900 (- $3,100) Total Retirement = $173,974 (+ $8,825) Total Assets = $856,793 (+ $14,904) Liabilities Total Credit Card = $4,940 (PIF every month) Total Other = $700 (iPhone upgrade program) Total Mortgage = $257,902 Total Liabilities = $264,563 Net Worth = $592,230 (+ $16,481) Goals for this year: - Max out the tax advantaged space in 529 accounts ($10,000 tax deductible in CT contributed $11,680/$10,000 thus far) - Take at least 2 week long vacations this year and spend less than $8,000 (once it's safe to do so). Had an awesome 8 day trip to Mexico in June and an unexpectedly great time at Cape Cod. No other travel planned for this year. Still have about $2,800 left in my travel budget for the year. - Contribute at least $17,000 to retirement this year. Already maxed out both Roth IRA's this year ($12,000), the rest is on autopilot. UPDATE: I increased my 401k contribution from 6% to 9%
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Oct 29, 2021 19:56
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| # ¿ May 14, 2024 06:05 |
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End of year update after forgetting about this in November. All +/-'s are for all of 2021. Assets Total Cash = $57,448 (+$19,304) Total Investments = $105,191 (+$25,788) Total Property = $535,200 (+$82.714) Total Retirement = $178,424 (+$49,403) Total Assets = $876,263 (+$177,209) Liabilities Total Credit Card = $5,267 Total Other = $584 (iPhone upgrade program) Total Mortgage = $256,976 Total Liabilities = $262,827 Net Worth = $613,636 (+$181,705)
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Jan 5, 2022 02:31
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