congratulations on finishing your studies!
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Cruising along with $2313 saved in May, $13,969 YTD so comfortably on track.
I will need to reconsider some things next month because I am starting a new FT job and the Boy is going down to 10 hours. That means he loses his 401(k) match. What we get instead is many more contributions from me and my employer to my pension, BUT I do not count employer contributions in my calculations. So maybe I put more money in my 457(b) (unmatched).
I need to remember to look into opening Baby’s First Roth as my 15 year old is starting his first job.
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Y’all I feel like sending $24 to investments just so I can get this over the $26,000 stretch goal line!!!
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awesome!
I’m at $18,700 saved out of $30,667 income for a rate of 61%.
My sales have been ok so far, I have my base salary paid for the year which is great. But it has really slowed down so I don’t know how much if any commission I will end up getting this year. Hopefully it picks back up! I can live on my base pay but I’d rather not have to.
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DO IT
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June Check In:
This month I saved $2,819.12, which puts me over the goal line!! I’m at $22,934.11 saved so far this year, which means I’m on track to meet (or even beat) my 26k goal instead. This means that this year I’ll hopefully max out the Roth IRA I started, pay off all of my student loans, and still make progress towards house/car down payment dreams.
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Congratulations on getting past the goal!
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We’re at just under $14k at the end of June. 70% done at 50% of the year!
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We put away $2362 in June and are now at $16,331 at the halfway point.
On the one hand, we’re on track! On the other hand, we have switched up our work arrangements. I now work 40 hours per week and the Boy works 10, meaning he gave up his 401(k) match. I will get twice as much employer contribution to my defined benefit contribution, but I do not count that. (I do count my employee portion even though the amount I get is more complicated than what I put in - it still feels like savings because it’s an amount of my paycheck going toward my future.)
So we’ll have to see what the new paycheck savings look like and whether I should (and/or can afford to!) increase my 457(b) contributions.
tl;dr: We’re doing great but I’m not sure what our savings will look like for the rest of the year.
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I DID IT!!! Crossed my stretch goal of $26,000.
If things stay as they are (no guarantee in this world) I will save over $45K this year, with about half being in tax-deferred accounts
Next year I’m going to actually research what it would take to do a backdoor roth with the pro-rata hit. I’m pretty sure with my currently trad IRA holdings and my current tax rate, it would be a pretty brutal tax bill. Whining on the yacht there.
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Woohoo, congrats! Does your current 403b allow you to do inbound rollovers to clear out the pro rata concerns?
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Nope. It’s pretty restrictive
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congratulations!
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$15.5k at end of July. Trucking along despite an incredibly high spending month - happened to be a 3 pay month for Ponder, so we saved a lot less than I expected but did manage positive cashflow.
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July was a high savings month because it had the last of the Boy’s paycheck savings before he lost benefits and the first of my FT job savings.
We saved $2765 and are at $19096 for the year, so getting close!
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July check in:
This month I saved $2,950.90, in thanks part to birthday $$ gifts and a cost of living increase to my paycheck! This puts me at $25,884.90 saved so far this year, almost to meet my stretch goal for the year.
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