Saved my first $10,000 liquid this year!

[MVal]

I just wanted to share with you guys something very exciting for me. I met my first goal of the year, to save $10,000 in liquid savings before my birthday! I currently make $40K this year and planned to save about $13,500 in liquid for the year (I already had $2,000 in another account), moving $5500 to the Roth so that by year's end, I would have fully funded the Roth and still had a combined liquid savings of about $10K.

I just hit $10K on my birthday, which was two days ago! So happy to have this emergency fund/savings buffer/freedom fund. Saving money has made me feel more secure and powerful and I'm so eager to save even more. Cash gives me options, I feel!

[Endersmom]

Congratulations! What's your next goal?

[MVal]

Congratulations! What's your next goal?

I'm tentatively planning on focusing my savings more on my 401K next year, so I'd like to start by putting nearly all my income forthe first two months in it (plus yearly bonus) and live off a bit from my new liquid savings and then I should have about $7,000 front loaded to the 401K right off the bat. Then I'd just do about 10% the rest of the year (I get 5% matching also),  re-fund any liquid I used, and maybe do a traditional IRA instead of a Roth. I'm hoping by doing this that I'll wind up $12-15K ahead in the 401K by the end of the year and have low enough taxable income to qualify for the Saver's Credit.

What do you think? I anticipate a 3% raise for 2016.

[Kimchi Bleu]

Kudos!  That's quite the accomplishment.

[psinguine]

Congrats! My wife and I have more or less the same goal, except instead of funding investments first we're trying to kill the last few stragglers of debt. The goal was to replenish the e-fund ($10K), restock Cash-On-Hand ($6K), and wage a holy war on debt ($20K). Here's to progress!

[Rosy]

Yeah for all of us!:)
I just officially hit my first $10K - it still feels a bit surreal. The even more exciting part is that it will just keep growing by $1633 every month plus.

Hanging out on this forum helps me stay focused on my goals, because I am definitely not the frugal type.

[Murdoch]

Congratulations.
A great accomplishment.
Keep the ball rolling.

Murdoch

[forummm]

Nice going! It's a good feeling to have that stash.

[MVal]

I changed my goals part way through the year and now I'm maxing out 401K contributions along with HSA. Still planning to open a tIRA and fully fund it this year, but I may have to raid my savings account to do that as I doubt I'm going to make more than $3K in after-tax savings this year to contribute, but I really want to do it so I can get the Saver's credit on my taxes.

Next year I'm thinking I might have scale back on saving as I'd like to move out of my roommate's place and get my own apartment, but we'll see how raises and stuff come out at the end of the year. Once I hit 6 figures NW, the faster accumulation of "interest"might leave me the wiggle room to do that as well.

[TravelJunkyQC]

Congrats - freakin' awesome!!

[meandmyfamily]

That is awesome!

[MVal]

Thanks! I had forgotten that first post when I was trying to hit $10K liquid by my birthday last year. This year, I had a goal to hit $70K NW by my birthday which was just a few weeks ago and I did it! Thank you markets, for cooperating! As I stand right now, I'm about $22K ahead of where I was in January, so no complaints!

[BTDretire]

 I remember hitting $6,000 and being amazed.
That was in 1982!
Saving and investing really works, today our nest egg is
well over 30 times our spending rate.
 Retiring in 4 months.
 So keep up the good work.

[MVal]

I remember hitting $6,000 and being amazed.
That was in 1982!
Saving and investing really works, today our nest egg is
well over 30 times our spending rate.
 Retiring in 4 months.
 So keep up the good work.

Wow, congrats! Gosh, that was the year I was born, haha!

[BTDretire]

I remember hitting $6,000 and being amazed.
That was in 1982!
Saving and investing really works, today our nest egg is
well over 30 times our spending rate.
 Retiring in 4 months.
 So keep up the good work.

Wow, congrats! Gosh, that was the year I was born, haha!

Yep, I'm almost to old to RE.

[urover]

Congratulations! I wish you all the best on your path to FIRE. We just hit 15K ourselves, but have an impending car purchase that threatens to bring the amount down quite a bit.

[Dezrah]

OP, these are amazing updates.  Are you still grossing around $40k/yr?  That's an incredible savings rate.  Posts like yours remind me I have a long way to go before I'm really badass.  Keep up the good work.

[MVal]

OP, these are amazing updates.  Are you still grossing around $40k/yr?  That's an incredible savings rate.  Posts like yours remind me I have a long way to go before I'm really badass.  Keep up the good work.

Thanks! I am still grossing $40K, although I anticipate a bonus around $3K at the end of the year which will help me finish my $18K goal in the 401K. Next year I might not be quite as badass since I'm hoping to rent my own house/apartment after living with a roommate for many years and might have to buy another used car as mine is starting to shoot craps at almost 190,000 miles. But we'll see...my company keep announcing we're doing better than ever so we might get bigger bonuses this year.