dcsimg The Get Rich Slowly Forums • View topic - Sam's 2014 Savings Goals

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Sun Nov 23, 2014 8:57 pm




Post new topic Reply to topic  [ 58 posts ]  Go to page 1, 2, 3, 4  Next
Author Message
 Post subject: Sam's 2014 Savings Goals
PostPosted: Mon Jan 09, 2012 7:22 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
We have started to formulate our 2012 savings goals but still a work in progress since we are spending quite a bit of time revisiting each number on our annual spending plan (our form of a budget). More details on my blog.

But this is what we are working on so far for 2012:
(1) Max out 401ks - $34,000 ($17,000 each)
(2) Max out IRAs - $10,000 ($5,000 each).

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Sam's 2012 Savings Goals - Finally Finalized
PostPosted: Wed Feb 29, 2012 6:27 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401ks - $34,000 ($17,000 for each)
(2) Max out IRAs - $10,000 ($5,000 for each)
(3) Add to our emergency fund - $10,000
(4) Principal prepayment for mortgage - $5,000
(5) House project fund - $5,000
(6) Trading account fund - $5,000

Total: $69,000

We finally finalized our goals for 2012, two months into the new year.

$69,000 is a stretch, $9000 more than we saved last year. I also spent quite a bit
of time working on our 2012 annual spending plan. Reworked it, checked the numbers, etc. I'm still tweaking, and plotting and planning how we can save more, but the plan is generally done. I'm thinking that the extra $9000 is going to come from our reduction in eating out and order in. I've been making progress on that front, but we could do better. I'd rather eat out less, save our eating out money for special meals out and save the rest. Eating out/order in has gotten to be such a habit for me.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Re: Sam's 2012 Savings Goals
PostPosted: Wed Feb 29, 2012 2:04 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Nice job with your goals Sam. You are really on a roll.
I'm curious about you maxing out your 2012 401ks already. Does your company let you contribute as much as you want at one time, or you guys have separate 401ks through some other source besides your job? Or...you just make a ton of $$, and that's cool. I wish I could max out a 401k so quickly.


Top
Offline Profile   
 Post subject: Re: Sam's 2012 Savings Goals
PostPosted: Fri Mar 02, 2012 5:39 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Peachy - those are just our goals for 2012. This is where we are at thus far in 2012. I wish we were as far along as you thought. :D

(1) Max out 401k(s) - $6123 (18%)(goal is $34,000)
(2) Max out IRA(s) - $0 (0%)(goal is $10,000)
(3) Add to e/r fund - $ 1600 (16%)(goal is $10,000)
(4) Pay down mortgage - $830 (17%)(goal is $5,000)
(5) House projects - $0 (0%) (goal is $5,000)
(6) Trading account fund - $0 (0%(goal is $5,000)

Total - $8,553 (12%)

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Re: Sam's 2012 Savings Goals - Finally Finalized
PostPosted: Wed Mar 07, 2012 8:42 pm 

Joined: Sat Mar 03, 2012 11:50 pm
Posts: 53
Sam wrote:
(1) Max out 401ks - $34,000 ($17,000 for each)
(2) Max out IRAs - $10,000 ($5,000 for each)
(3) Add to our emergency fund - $10,000
(4) Principal prepayment for mortgage - $5,000
(5) House project fund - $5,000
(6) Trading account fund - $5,000

Total: $69,000

We finally finalized our goals for 2012, two months into the new year.

$69,000 is a stretch, $9000 more than we saved last year. I also spent quite a bit
of time working on our 2012 annual spending plan. Reworked it, checked the numbers, etc. I'm still tweaking, and plotting and planning how we can save more, but the plan is generally done. I'm thinking that the extra $9000 is going to come from our reduction in eating out and order in. I've been making progress on that front, but we could do better. I'd rather eat out less, save our eating out money for special meals out and save the rest. Eating out/order in has gotten to be such a habit for me.



Sam ,

Just curious , to save $69K in a year , what is your household income ? And what do you do for a living ?

Exploring ,

Marcopolo


Top
Offline Profile E-mail   
 Post subject: April update
PostPosted: Wed Apr 18, 2012 2:55 pm 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $10,705 (31%)(goal is $34,000)
(2) Max out IRA(s) - $1500 (15%)(goal is $10,000)
(3) Add to e/r fund - $ 2800 (28%)(goal is $10,000)
(4) Pay down mortgage - $1245 (25%)(goal is $5,000)
(5) House projects - $350 (7%) (goal is $5,000)
(6) Trading account fund - $0 (0%(goal is $5,000)

Total - $16,600 (24%)

At present, we are about $3300 behind on our 2012 goals.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: May Update
PostPosted: Tue May 08, 2012 5:11 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $13,492 (40%)(goal is $34,000)
(2) Max out IRA(s) - $1600 (16%)(goal is $10,000)
(3) Add to e/r fund - $ 3600 (36%)(goal is $10,000)
(4) Pay down mortgage - $1600 (33%)(goal is $5,000)
(5) House projects - $450 (9%) (goal is $5,000)
(6) Trading account fund - $0 (0%(goal is $5,000)

Total - $20,802 (30%)

We are about $4,400 behind on our goals.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: June update
PostPosted: Wed Jun 06, 2012 5:36 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $16,879 (50%)(goal is $34,000)
(2) Max out IRA(s) - $3502 (35%)(goal is $10,000)
(3) Add to e/r fund - $4800 (48%)(goal is $10,000)
(4) Pay down mortgage - $2075 (42%)(goal is $5,000)
(5) House projects - $600 (12%)(goal is $5,000)
(6) Trading account fund - $50 (1%)(goal is $5,000)

Total - $27,906 (40%)

At present, we are about $2600 behind on our 2012 goals. We caught up a little bit last month.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Mid June Update
PostPosted: Fri Jun 15, 2012 5:02 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $18,079 (53%)(goal is $34,000)
(2) Max out IRA(s) - $4102 (41%)(goal is $10,000)
(3) Add to e/r fund - $4800 (48%)(goal is $10,000)
(4) Pay down mortgage - $2490 (50%)(goal is $5,000)
(5) House projects - $600 (12%)(goal is $5,000)
(6) Trading account fund - $50 (1%)(goal is $5,000)

Total - $30,121 (44%)

Posting mid-month because its good news, we have caught up a bit more on our 2012 savings goals. At present, we are $1725 behind on our goals.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Half Way Point
PostPosted: Mon Jul 02, 2012 10:57 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $19,230 (57%)(goal is $34,000)
(2) Max out IRA(s) - $4105 (41%)(goal is $10,000)
(3) Add to e/r fund - $5200 (52%)(goal is $10,000)
(4) Pay down mortgage - $2490 (50%)(goal is $5,000)
(5) House projects - $650 (13%)(goal is $5,000)
(6) Trading account fund - $50 (1%)(goal is $5,000)

Total - $31,725 (46%)

We are half way through the year and accordingly, we should be 50% of the way done on our savings goals. At present, we are about $4102 behind on our goals.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: ReFi
PostPosted: Tue Jul 10, 2012 10:57 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Not part of our 2012 goals but we just, today, applied for a mortgage refinance for our primary home. Looking to go from a 25 year term mortgage (we are 4 years into it) at 4.8% to a 15 year term mortgage at 2.75%. If we are able to qualify and at this point that is dependent on the appraisal (its tough out there in So Fla), we will take 6 years of our mortgage term and save $181,000 versus our current loan.

Just spent an hour on the phone doing the application and we have a tone of work over the next few days to provide all the documentation (its much more document intensive than the last time around).

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Re: Sam's 2012 Savings Goals
PostPosted: Mon Jul 23, 2012 11:24 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Happy to report that our initial appraisal, for our Refi, came back at $395,000. You can read more at our blog.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Re: Sam's 2012 Savings Goals
PostPosted: Wed Jul 25, 2012 12:16 am 

Joined: Mon Jul 16, 2012 11:49 pm
Posts: 20
Sam, all I can say is "wow!", you are slamming those goals. Great work.

Karen


Top
Offline Profile E-mail   
 Post subject: August Update
PostPosted: Tue Jul 31, 2012 5:24 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) Max out 401k(s) - $22,617 (67%)(goal is $34,000)
(2) Max out IRA(s) - $4705 (47%)(goal is $10,000)
(3) Add to e/r fund - $6000 (60%)(goal is $10,000)
(4) Pay down mortgage - $2490 (50%)(goal is $5,000)
(5) House projects - $750 (15%)(goal is $5,000)
(6) Trading account fund - $50 (1%)(goal is $5,000)

Total - $36,612 (53%)

More details on the blog.

_________________
Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


Top
Offline Profile E-mail   
 Post subject: Re: August Update
PostPosted: Tue Jul 31, 2012 5:47 am 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 961
Sam wrote:
(1) Max out 401k(s) - $22,617 (67%)(goal is $34,000)
(2) Max out IRA(s) - $4705 (47%)(goal is $10,000)
(3) Add to e/r fund - $6000 (60%)(goal is $10,000)
(4) Pay down mortgage - $2490 (50%)(goal is $5,000)
(5) House projects - $750 (15%)(goal is $5,000)
(6) Trading account fund - $50 (1%)(goal is $5,000)

Total - $36,612 (53%)

More details on the blog.


Your goals for savings is amazing....hope I can reach your level someday.

_________________
Be what you want to attract.


Top
Offline Profile   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 58 posts ]  Moderators: kombat, bpgui, JerichoHill, Fiscal Fitness Moderator Go to page 1, 2, 3, 4  Next


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki