Author Topic: Save 100k(couple) or 50k(single) in 2017  (Read 34045 times)

StarBright

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #300 on: December 29, 2017, 05:42:04 PM »

We ended up at about $56,165/$60,000. (approx %93)

We actually had just enough to hit our goal but we decided to prepay property taxes instead. Thanks b42 for doing this thread the last couple of years (and also encouraging folks to join who can't hit the 100k mark). 

NinetyFour

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #301 on: December 29, 2017, 07:09:05 PM »
ToughMother--I wish you all the best as you exit from your stressful job!  Thanks to all your savings, you are in the position to prioritize your health!  :)  I hope you will update us at some point as your exit date approaches--maybe in the "Class of FIRE 2018" thread?  :)

Hey @NinetyFour !! Thanks for checking in while on your mid-west visit! 

While I'd LOVE to be FIRE'd in 2018, the truth is I do have to find SOMETHING as this premature exit means I'll no longer have a pension to figure into my future plans.  I'll be leaving with 7 years of the 10 needed to be vested.  If I'm lucky, I'll find some other gig in the state system, but otherwise, it is back to the drawing board... 

My stress and health consequences are so bad, though, that I truly have no options -- I'm going to the doc today to get some help with my blood pressure.  I can't even imagine going back to work after break -- but I still have another week of sweet freedom before thinking about that trauma.  In the meantime, I'm doing a lot of projections (with assistance from Mark Zoril http://workshop.planvisionmn.com/96-plan/) to see what my options and needs are.

I'm grateful this position gave me a blockbuster savings year, but the cost has been far too high.  I'll share more when I "cut bait."  Congrats on your own upcoming FIRE!  SO impressed and you just knocked your goals for the year out of the park!  So terrific!

Happy New Year!

@ToughMother I hope you have been able to enjoy the rest of your break and that your doctor had some good suggestions for the high blood pressure!  I wish you all the best as you explore your other options.  I look forward to hearing more as you navigate your way out of this stressful position and into something more enjoyable!  I hope 2018 brings you much happiness and very little stress!  :)

NinetyFour

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #302 on: December 29, 2017, 07:16:13 PM »
I'm a singleton.

Update--final figures for 2017:

401a:               $13,841 (counting both the employee and employer contributions)
403b:               $24,000
457:                $24,000
mortgage principal: $11,716

Total:              $73,557


I think I did OK.  :)

SAfAmBrit

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #303 on: December 29, 2017, 11:31:36 PM »
18000   18000   401k 
1400    1400           401k match
5500     5500    Roth IRA
6500            6500   DH Roth IRA
36000   36000   Mortgage
15800   15800   Taxable Vanguard
4800            4800   Archaeology Dig 
12000   12000   Debt
100000   100000   

We hit the mark - big expense putting in low e windows this month. On to 2018!

Rife

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #304 on: December 31, 2017, 07:53:23 AM »
401K + match (mine) - 23100
401k + match (hers) - 24400
HSA - 6750 - spent on lasik for each of us (not counted)

Emergency Fund - 15000
College Fund - 13000

Taxable brokerage - 18000
Mortgage principal - 8400

Total: $101900

Overall, we had a good saving year. We started our taxable brokerage and plan to put 48000 in it next year which will start the early retirement stash now that all the other stuff is out of the way.
"Aww, 20 dollars..I wanted a peanut." Homer Simpson

PharmaStache

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #305 on: December 31, 2017, 07:44:59 PM »
5.5k TFSA 1
5.5k TFSA 2
4k RRSP
2.5k RESP 1
5k RESP 2
19500 TFSA 1
8000 Taxable 15k
(not bothering to include pension contributions/matches this year)
=50k  57k

boarder42

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #306 on: January 01, 2018, 04:40:30 AM »
401K + match (mine) - 23100
401k + match (hers) - 24400
HSA - 6750 - spent on lasik for each of us (not counted)

Emergency Fund - 15000
College Fund - 13000

Taxable brokerage - 18000
Mortgage principal - 8400

Total: $101900

Overall, we had a good saving year. We started our taxable brokerage and plan to put 48000 in it next year which will start the early retirement stash now that all the other stuff is out of the way.

I don't understand want you mean. Hopefully that's not at the cost of your tax advantaged accounts

https://www.madfientist.com/how-to-access-retirement-funds-early/


Rife

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #307 on: January 01, 2018, 11:29:37 AM »
401K + match (mine) - 23100
401k + match (hers) - 24400
HSA - 6750 - spent on lasik for each of us (not counted)

Emergency Fund - 15000
College Fund - 13000

Taxable brokerage - 18000
Mortgage principal - 8400

Total: $101900

Overall, we had a good saving year. We started our taxable brokerage and plan to put 48000 in it next year which will start the early retirement stash now that all the other stuff is out of the way.

I don't understand want you mean. Hopefully that's not at the cost of your tax advantaged accounts

https://www.madfientist.com/how-to-access-retirement-funds-early/

I donít understand your question. We used HSA funds to pay for lasik surgery for the two of us which is one of the covered procedures. I am just noting that since we saved it and spent it in the same year it cancels itself out in terms of savings.
"Aww, 20 dollars..I wanted a peanut." Homer Simpson

boarder42

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #308 on: January 01, 2018, 11:52:25 AM »
Nothing to do with the lasik it was your last paragraph about pumping 48k into taxable brokerage

zinny1

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #309 on: January 02, 2018, 04:46:44 AM »
I managed $47,324.10/$50,000 (94.6%) - pretty happy, had $5,300 medical expenses out of pocket to cover so hopefully a healthier 2018 means I can exceed $50K.

Well done to everyone who reached their goals.

ritz

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #310 on: January 02, 2018, 12:00:29 PM »
December/Year Totals:
GoalActualRemaining
401(K)18,00018,0000
401(K) Match7,2007,211(11)
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable33,50034,500(1,000)
Total69,61370,624(1,011)
101.45% Complete

The year is done and I made it! My net worth actually went up over twice the amount I saved, so it was a great year money-wise. Definitely made up for 2016 when my net worth went down. I'm looking forward to 2018, it should hopefully be even better (although I can't imagine that market returns will be able to match this year's).
« Last Edit: February 13, 2018, 11:04:16 AM by ritz »

DirtDiva

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #311 on: January 02, 2018, 12:25:58 PM »
I'm in a couple of months late to the challenge, but we were already getting close.

24,000    my 457
11,383    my match
24,000    hub's 401k
  1,440    hub's match
12,170    mortgage principal
12,000    taxable savings
__________
$84,933



$37,416 so far, right on target for the year. 
If market gains counted, I would be all set for 2017 (as I'm sure most of you would be).

End:
35,383 My 457 + match
25100 hubs 401k and match
39,500 mortgage principal
______
Total: 99,983

So close!
Serenity now!

K-ice

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #312 on: January 07, 2018, 09:12:51 PM »
Is there a new one for 2018 started?

boarder42

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #313 on: January 08, 2018, 09:29:54 AM »
we have a new thread

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/save-50k-single-100k-couple-in-2018/

i dont want a mega thread new one each year.

BlueHouse

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Re: Save 100k(couple) or 50k(single) in 2017
« Reply #314 on: January 08, 2018, 10:05:38 AM »
FINAL 2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               24,000              24,000   
   401k match                     34,995              30,000   
   Roth IRA                           6,500              6,500   
   Taxable Savings              51,600            100,000   
   xtra mortgage principal    23,340                     0
------------------------------------------------------------------------------         
   YTD                                140,095            160,500         87% of goal
   
January YTD savings             14,485          160,500          9%
February YTD savings            36,995          160,500         23%
March YTD savings                39,505          160,500         25%
April   YTD savings                67,015          160,500         42%
May    YTD savings                59,525          160,500         37% (ugh)
June YTD savings                  62,035          160,500         39%
July YTD savings                   64,545          160,500         40%
August YTD savings               87,055         160,500          54%
SeptemYTD savings               89,565         160,500          56%
OctoberYTD savings              112,075        160,500          70%
November YTD savings          114,585       160,500           72%
December YTD savings          140,435        160,500          87%

Didn't quite make it, but I did divert about $30k into a cash account to fund 2018's 401k profit sharing contribution (for 2017 year).  Still, I'm counting on a cash based system, so I'll count that savings as 2018 when I transfer the cash into a long-term account. 
« Last Edit: January 08, 2018, 10:19:14 AM by BlueHouse »
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