The Money Mustache Community

General Discussion => Throw Down the Gauntlet => Topic started by: boarder42 on December 27, 2016, 08:56:13 AM

Title: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 27, 2016, 08:56:13 AM
Its back again ... post up your savings goals and how you plan to get there next year. 

Having a baby this year so this may be a stretch for us but with selling AU spots on CCs i think we can make it.

How I Plan to get there
401k's - 36k maxed
HSA - 6750 maxed
Roth's 11k Maxed
Company A Stock - 11k
401k A match - 3.25k
401k B match - 6.5k
Taxable 26k

Total = 100.5K
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on December 27, 2016, 05:48:53 PM
Absolutely.  We are in for 2017 again.  As a couple, our floor goal is $100k but we would really like to push it to $150k (stretch goal for us).

$36,000 - 401(K)s, for both of us
$7,900 - 401(k) match, for both of us :-(
$6,750 - HSA for family
$14,300 - Taxable investments
$10,800 - Other Long Term Savings
$18,990 - College savings
$27,668 - Extra Principal Payments

$122,408 - Current Total Projection for 2017
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on December 27, 2016, 06:20:23 PM
I haven't run the final numbers, but it looks like we are falling just short of $100k for 2016. Seems like a good goal for 2017.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 28, 2016, 08:45:33 AM
posting to follow - I loved this thread in 2016 and it provided a lot of inspiration.

We're a two income family but only make 115k combined and have two kids in daycare so saving 100k is pretty darn impossible - but I love to read this thread!

you can set your own goal and play along even if you can hit the numbers.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on December 28, 2016, 09:57:21 AM
I'm in over 50k is expected so I'm planning a stretch goal of 75k. 

401k: 18,000
Roth IRA: 5,500
HSA: 3,400
401k match:  7040 5% of pay (this is likely to be more but not that much more).
Minimum anticipated into my taxable account:  25,200 (what gets swept out automatically every 1st of the month)
So currently I'm at $59,140 for a minimum estimate.   
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on December 28, 2016, 11:10:18 AM
I kicked ass last year,
http://forum.mrmoneymustache.com/throw-down-the-gauntlet/save-100k-in-2016/msg1348256/#msg1348256

but my side-gig ended in October and I'm thinking of spending more time on hobbies than on paying gigs this year.  Getting the 100K taxable is a stretch this year. 

2017 Progress against Goal

 
  Year to date progress:       Saved          Goal
   401k                                0              24,000   
   401k match                      0              30,000   
   Roth IRA                          0               6,500   
   Taxable Savings                0             100,000   
------------------------------------------------------------------------------         
   YTD                                 0            160,500         0% of goal.
   
January YTD savings             0          100,000          0%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 28, 2016, 11:56:52 AM
I kicked ass last year,
http://forum.mrmoneymustache.com/throw-down-the-gauntlet/save-100k-in-2016/msg1348256/#msg1348256

but my side-gig ended in October and I'm thinking of spending more time on hobbies than on paying gigs this year.  Getting the 100K taxable is a stretch this year. 

2017 Progress against Goal

 
  Year to date progress:       Saved          Goal
   401k                                0              24,000   
   401k match                      0              30,000   
   Roth IRA                          0               6,500   
   Taxable Savings                0             100,000   
------------------------------------------------------------------------------         
   YTD                                 0            160,500         0% of goal.
   
January YTD savings             0          100,000          0%

are you old? or how are you getting 24k into your 401k?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on December 28, 2016, 01:38:03 PM

are you old? or how are you getting 24k into your 401k?

Yes, I am old.  Thank you for your sensitivity.  ;)   Turning 50 late next year.   
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 28, 2016, 01:38:41 PM

are you old? or how are you getting 24k into your 401k?

Yes, I am old.  Thank you for your sensitivity.  ;)   Turning 50 late next year.   

its one of my greatest attributes.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on December 28, 2016, 05:43:43 PM
Going for it again in 2017:

Pension savings $12K
457 savings $24K
403b savings $12K
IRA savings $6.5K
After tax savings $4K
TOTAL $58.5K ($8K higher goal than 2016)

and yes, I'm old too.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: givemesunshine on December 28, 2016, 09:26:36 PM
Only managed $32K in 2016 (Medical Expenses) but planning $50K in 2017.

Pension Savings (Super): $25K
Post Tax Savings/Investments: $26K
Total: $51K

Good luck all.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MM_MG on December 28, 2016, 09:35:36 PM
In...again...

$18,000  401K
$13,500  Match
$11,000  Backdoor roths
$22,000  Mega backdoor roth
$8,000    Pension
$6,750    HSA with employer contribution
$44,000  Bonus
$X.XX     Taxable
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Derrian on December 29, 2016, 10:35:44 AM
I'm in again:
$18000 403b
$18000 457b
$8620 pension
$5500 Roth/Traditional IRA
$5000 taxable

Total: $55120
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 29, 2016, 12:04:41 PM
i'm super on the fence on 529s, but if not used for college arent they just taxable accounts?

nope they arent they get a 10% penalty if not used for education.  i'm not a fan anymore as i think the educational landscape will dramatically change in 19 years.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on December 29, 2016, 12:23:28 PM
This may be a stretch for us, but I want to try. More likely to do so if I'm committed in writing so here goes. I'm including paying down our 401K loans because that is returning money to savings... Here are our goals:

My 401K: currently $14606, goal is $18,000
My 401K company match: $5618
Husband's 401k: currently $17,857, goal is $24,000 (he turns 50 next year)
Husband's 401K company match: $7440
HSA: $4000
company HSA contribution: $1000
Cash savings goal for 2017: $10,000 to after-tax savings

Total with current 401K: $60,521
Total with goal of max 401K: $70,058

We owe a ghastly $79k on our 401k loans. Goal is to get them paid off ASAP, after we max out pre-tax contributions. Mine is about $33k, husband's around $46k. Goal is to pay mine off in 2017. If we max out our 401k's and get my loan paid off, we'll hit $100k in 2017. We both make 6 figures but it will be a stretch that will require some big changes.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright on December 29, 2016, 12:41:00 PM
i'm super on the fence on 529s, but if not used for college arent they just taxable accounts?

nope they arent they get a 10% penalty if not used for education.  i'm not a fan anymore as i think the educational landscape will dramatically change in 19 years.

I'm honestly not sold on 529s in general either and we won't save for our kids entire college educations that way but we'll put in enough to cover books for each of them in 15 years :) But it is also tax advantaged in our state and there is a chance that I'll be starting a MBA program next fall, which will be mostly free except for about $2,500 dollars in course materials - so might as well toss a bit in a 529 if we can.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 29, 2016, 01:00:34 PM
i'm super on the fence on 529s, but if not used for college arent they just taxable accounts?

nope they arent they get a 10% penalty if not used for education.  i'm not a fan anymore as i think the educational landscape will dramatically change in 19 years.

I'm honestly not sold on 529s in general either and we won't save for our kids entire college educations that way but we'll put in enough to cover books for each of them in 15 years :) But it is also tax advantaged in our state and there is a chance that I'll be starting a MBA program next fall, which will be mostly free except for about $2,500 dollars in course materials - so might as well toss a bit in a 529 if we can.

books should be bought online very cheap (i bought and resold to the university and made money) and by 15 years from now gets here digital books should be included as part of the class fee one would think.  if college even exists as we know it today.  which i feel is unlikely. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: jorjor on December 29, 2016, 05:06:11 PM
Okay, I'm in. $100k goal for us, which we were surprised to hit in 2016...

401k 1: $18,000
401k 2: $18,000 (might not hit exact due to her planned unpaid leave)
Match 1: $15,100 (large contribution hits in February with modest match throughout the year)
Match 2: $5,000 (not fully sure on the details here with her new job, but the somewhat ambiguous wording in the handbook sounded like a cap of $5k on match)
HSA: $6,750
BD Roth 1: $5,500
BD Roth 2: $5,500
Addl mortgage principal: $6,000
Taxable: $21,000
Total: $100,850

Things that will help us get there again in 2017:
- Wife starts a new job, with +$8-15k salary depending on commissions/bonuses and better 401k match
- My salary +$5k. Salary isn't the main determinant of my income though, it is determined by billing rate and hours (revenue) and commissions on sales. Increased billing rate for 2017 is such that if I had the exact same hours as this year, my bonus will be +$20k. I also was part of getting a new large client with ongoing work in October. That helped us rack in savings in the end of this year, but with full year of us doing work for them I expect this will increase my compensation by as much as +$25k-30k.
- Less travel, dining out, drinking expenses with a little one on the way.

Things that will make it tougher in 2017, all related to our big addition planned in April:
- Wife doesn't have paid maternity but plans to take the full 12 week unpaid leave (maybe partially covered by disability, haven't seen details on her new policy).
- New baby expenses.
- Child care the last couple months of the year (I have 12 week paid paternity, which I will take after she returns, so we should be covered on our own until October-ish).
- One or both of us potentially going part-time (3-4 days a week) after we return.
- Potentially some home improvements this year (old boiler that eventually needs replaced and would like to put newer windows in to make things a little more cozy).

Good luck everyone!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FrugalFan on December 30, 2016, 12:21:29 PM
I'm joining again! This was a great motivator last year.

2017  Goals

Investment stash only:

$47000 TFSA 1
$45000 TFSA 2
$11086 Pension contributions 1
$12193 Pension contributions 2
$7391 Employer match 1
$8128 Employer match 2
$3000 RRSP 1
$2800 RRSP 2

Total: $136598

Non-stash extras:
$5000 RESP
$1000 RESP government match

This will be a stretch goal for us but we exceeded our goals last year so I'm hoping we can do this!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on December 30, 2016, 07:28:28 PM
I'm in for another year!

401k     $18,000
Match    $5,500
HSA       $3,400
IRA       $5,500
Taxable  $20,000
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Libertea on December 31, 2016, 07:18:08 AM
Targets for New Contributions in 2017:

403b: $18,000
Match: $1500
457: $18,000
Roth: $5500
Other: $15,000
--------------------
Total: $58,000
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Luckyvik on January 02, 2017, 01:01:14 PM
Mmm lets see:

Super 1: 25k

Super 2: 25k

Principal payments: 12k

Mortgage offset acc: 38k

= 100k

The mortgage offset of 38k is a stretch goal for us but at $3,167/month it's feasible, we just need to save most of my pay, which is something we wanted to do anyway.


Sent from my iPhone using Tapatalk
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on January 02, 2017, 01:45:20 PM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrMathMustache on January 03, 2017, 05:45:27 PM
Would have hit the $50k mark in 2016, but chose to purchase a new car in April to replace the 16-year-old one I had been driving since college graduation.  Here's the 2017 plan:

Contributory IRA      $5,500 (funded 1/3/17)
457b                       $18,000 (bi-weekly deductions to fully fund by year-end)
403b                       $6,000 (bi-weekly deductions to fully fund by year-end)
After tax savings      $20,500

Good luck to everyone with the challenge!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on January 06, 2017, 12:18:30 AM
Another year already here.  Ok, going to see if I can contribute just a bit more than last year.  My company started for the first time to give $1k in free HSA contributions, so in theory I should be able to shunt that $1k from the HSA to my 401K.

My wife works about 12 hours a week, so I can't call us either single (50k) nor dual income (100k), so I feel comfortable with the amounts we can do, given we have 2 kids as well.


HSA:                   $5750
HSA Match:             $1000
401K After Tax:       $27010
401K Employer Match:   $6885
Roth IRA:              $5500
401K Pre Tax:         $18000
Wife Traditional IRA:  $5500
Mortgage principle:    $8446
=====================================
Total:                $78091 ($1389 more than last year)


If my bonus is larger than last year (hopefully?), than I should be able to contribute more to the 401k after tax, possibly completely maxing out the 401k ($54k).

Good luck everyone on this challenge!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on January 06, 2017, 12:11:10 PM
I'm in again! 50k, through some combination of 403b, HSA, tIRA, and taxable.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: JustTrying on January 08, 2017, 02:19:15 PM
My goal for 2017 is $44,000 put by me into long-term non-college savings. If I count my employer match (which I don't), paying down the mortgage (which I don't), and college savings (which I don't), I'm definitely above the $50,000 line.

403(b): $18,000
Roth: $5,500
Taxable Investments/increasing Emergency Fund: $20,500

I chose the amounts based on the goal of saving $1000 per pay period on top of my 403(b)

I plan to achieve this by budgeting (something I've never done before!). Since I've never budgeted I actually never did the math to realize: I'm mustachian! I always thought I wasn't mustachian because I always compared my savings to gross income, and never really considered paying down the mortgage to be part of the calculation. I was shocked when I did the math and realized that my savings rate is >50%!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: havregryn on January 08, 2017, 02:25:30 PM
On for this challenge!
We will make 30 000Ä of principal payments on our mortgages this year and I think we can save 70 000 extra if we're very good this year.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: sixkids on January 11, 2017, 06:17:54 PM
I'm apparently poor and make a little less than $100k a year. My wife doesn't work, and we have 6 kids. I think I'll aim to add $10,000 to savings this year.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on January 12, 2017, 03:42:25 AM
My goal for 2017 is $44,000 put by me into long-term non-college savings. If I count my employer match (which I don't), paying down the mortgage (which I don't), and college savings (which I don't), I'm definitely above the $50,000 line.

403(b): $18,000
Roth: $5,500
Taxable Investments/increasing Emergency Fund: $20,500

I chose the amounts based on the goal of saving $1000 per pay period on top of my 403(b)

I plan to achieve this by budgeting (something I've never done before!). Since I've never budgeted I actually never did the math to realize: I'm mustachian! I always thought I wasn't mustachian because I always compared my savings to gross income, and never really considered paying down the mortgage to be part of the calculation. I was shocked when I did the math and realized that my savings rate is >50%!

Employer match should be included it's post of your compensation just ear marked for retirement
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: tightwaddy on January 12, 2017, 05:43:42 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Hey NinetyFour--question for you.  Is there a reason you're maxing out the 403b before the 457?  I also have the option for both and have tended towards maxing the 403 myself but it occurred to me last month that the 457 has the benefit of no penalty withdrawal at any age.  I'm thinking I should max that out first, then the 403b but maybe there's something I'm missing or overlooking?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on January 12, 2017, 05:49:15 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Hey NinetyFour--question for you.  Is there a reason you're maxing out the 403b before the 457?  I also have the option for both and have tended towards maxing the 403 myself but it occurred to me last month that the 457 has the benefit of no penalty withdrawal at any age.  I'm thinking I should max that out first, then the 403b but maybe there's something I'm missing or overlooking?

tightwaddy--good question.

When I retire, I will be very close to age 57.  Since I will be ancient over 55, I will be able to withdraw my 403b funds without penalty, so the 457 doesn't really have an advantage in that regard.

Also, the funds that are available to me in my 403b account are better (lower fees) than the ones in the 457 account.

If I were a youngster, I would definitely fill the 457 before the 403b.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: tightwaddy on January 12, 2017, 05:56:11 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Hey NinetyFour--question for you.  Is there a reason you're maxing out the 403b before the 457?  I also have the option for both and have tended towards maxing the 403 myself but it occurred to me last month that the 457 has the benefit of no penalty withdrawal at any age.  I'm thinking I should max that out first, then the 403b but maybe there's something I'm missing or overlooking?

tightwaddy--good question.

When I retire, I will be very close to age 57.  Since I will be ancient over 55, I will be able to withdraw my 403b funds without penalty, so the 457 doesn't really have an advantage in that regard.

Also, the funds that are available to me in my 403b account are better (lower fees) than the ones in the 457 account.

If I were a youngster, I would definitely fill the 457 before the 403b.

Thanks for the quick & helpful response. That all makes sense.  Not really a "youngster" here, but I'm 45 and have the same Vanguard funds in both accounts so I'll stick with current plan of maxing the 457 first.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on January 12, 2017, 06:07:38 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Hey NinetyFour--question for you.  Is there a reason you're maxing out the 403b before the 457?  I also have the option for both and have tended towards maxing the 403 myself but it occurred to me last month that the 457 has the benefit of no penalty withdrawal at any age.  I'm thinking I should max that out first, then the 403b but maybe there's something I'm missing or overlooking?

tightwaddy--good question.

When I retire, I will be very close to age 57.  Since I will be ancient over 55, I will be able to withdraw my 403b funds without penalty, so the 457 doesn't really have an advantage in that regard.

Also, the funds that are available to me in my 403b account are better (lower fees) than the ones in the 457 account.

If I were a youngster, I would definitely fill the 457 before the 403b.

Thanks for the quick & helpful response. That all makes sense.  Not really a "youngster" here, but I'm 45 and have the same Vanguard funds in both accounts so I'll stick with current plan of maxing the 457 first.

I'm jealous that you get to choose between Vanguard and Vanguard!  My 403b account is with TIAA and my 457 account is worse.  But I only have another 18 months of work, so it's all good!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SwordGuy on January 12, 2017, 09:40:41 AM
Ok, we're in:


Category                Amount
401k                   $24,000
Match                   $3,000
Spouse 401k            $24,000
Spouse Match            $1,300
Roth                    $6,500
Spouse Roth             $6,500
Flip House Repairs     $30,000
Rental #3 Repairs      $10,000
Rental #4 Repairs      $10,000
=============         ========
Total                 $115,300


The repairs on Rentals #3 and #4 are upgrades/renovations/repairs that increase the value of the property and will make them capable of being income producing.

The repairs on the Flip House are year 1 of a 2 year renovation plan that will make the property salable at a profit.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: HappierAtHome on January 12, 2017, 04:47:23 PM
I don't know if it will be realistic for us to save $100k this year (having a baby, decreasing both our incomes, buying a new-to-us car) but reading this thread really makes me want to try. So I'm here to join in, and it's a real stretch goal so a good challenge for me.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on January 12, 2017, 04:58:22 PM
I'm in!

Although I'm getting to the pointy end, being pretty much FI, with a RE date coming up in July.  My goal is to save 100% of my job income until the 3rd of July (last day).  That means savings of $86,000 over this time.

What's the challenge if I'm already FI you say?  One word - weddings.  Both my own in Feb, and I'm the best man for one in July.  These will be a budgetary challenge compared to usual expenses!  I'd like to be able to cash flow these out of investment income, and keep saving all my earned income, which will be a bit of a cost control challenge.

Good luck all!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on January 13, 2017, 07:46:45 AM


My goal is to save 100% of my job income until the 3rd of July (last day).  That means savings of $86,000 over this time.

$86K in essentially half a year is spectacular!  Since you are single now but will be a couple post-wedding - is that based only on your income?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrMoogle on January 13, 2017, 09:07:29 AM
I make $84k/year now.  After seeing this thread, I went back to last year: I saved $45k last year on $80k, but I only qualified for 6 months of ESOP contributions.  So with $4k additional income and another 6 months of contributions, $50k will be possible, but a stretch.  Might as well set the bar a little high though, right?

My goal for the last few years has been $40k, so I was pleasantly surprised to see last year's result.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on January 13, 2017, 09:28:39 AM
I make $84k/year now.  After seeing this thread, I went back to last year: I saved $45k last year on $80k, but I only qualified for 6 months of ESOP contributions.  So with $4k additional income and another 6 months of contributions, $50k will be possible, but a stretch.  Might as well set the bar a little high though, right?

My goal for the last few years has been $40k, so I was pleasantly surprised to see last year's result.

That is really impressive.  Percentages are what differentiates the badass from the rest of us.  Congrats.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrMoogle on January 13, 2017, 11:30:10 AM
I make $84k/year now.  After seeing this thread, I went back to last year: I saved $45k last year on $80k, but I only qualified for 6 months of ESOP contributions.  So with $4k additional income and another 6 months of contributions, $50k will be possible, but a stretch.  Might as well set the bar a little high though, right?

My goal for the last few years has been $40k, so I was pleasantly surprised to see last year's result.

That is really impressive.  Percentages are what differentiates the badass from the rest of us.  Congrats.
Thanks.  It doesn't feel impressive though.  Alabama has a pretty low COL and I don't feel like I'm sacrificing.  I guess it's because I'm on cruise control now.  A few years ago when I started cooking more and saved $40k on $75k, that felt impressive.  But I haven't really changed anything since then, just my salary keeps rising, and I turn to cooking faster than I used to, since it's easier and quicker and healthier. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: tarheeldan on January 13, 2017, 11:42:19 AM
I'm in! Last year I grew NW by $41k and aim to do better this year (single). I'm shooting for $45k on a $75k gross income.

T 401k:  $18.0k
T IRA:      $5.5k
Taxable: $21.5k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on January 13, 2017, 12:12:26 PM
I make $84k/year now.  After seeing this thread, I went back to last year: I saved $45k last year on $80k, but I only qualified for 6 months of ESOP contributions.  So with $4k additional income and another 6 months of contributions, $50k will be possible, but a stretch.  Might as well set the bar a little high though, right?

My goal for the last few years has been $40k, so I was pleasantly surprised to see last year's result.

That is really impressive.  Percentages are what differentiates the badass from the rest of us.  Congrats.
Thanks.  It doesn't feel impressive though.  Alabama has a pretty low COL and I don't feel like I'm sacrificing.  I guess it's because I'm on cruise control now.  A few years ago when I started cooking more and saved $40k on $75k, that felt impressive.  But I haven't really changed anything since then, just my salary keeps rising, and I turn to cooking faster than I used to, since it's easier and quicker and healthier.

thats what its all about getting on that cruise control.  i'm just impatient so now its just time.  can i figure out how to make 50k more yeah i can probably do that.  but it wont accelerate or cut any years off FIRE.

we're saving 100k on salaries and bonuses and stock that cross over 170k so its not nearly as impressive as what some of the lower incomes do esp when you consider the base income and the percentage.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on January 15, 2017, 10:18:31 PM


My goal is to save 100% of my job income until the 3rd of July (last day).  That means savings of $86,000 over this time.

$86K in essentially half a year is spectacular!  Since you are single now but will be a couple post-wedding - is that based only on your income?
Yes, this is based just on my income.  We have not combined finances.  Luckily, she is also on the frugal spectrum.  Tighter on big experiences, more inclined to spend on day to day, and more conservative investor than I am.  Pretty lucky, as having a financially aligned partner is a pretty big factor in FIRE I suspect!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: k_to_the_v on January 16, 2017, 08:53:18 AM
I'm going to use this thread as inspiration. My actual goal is 47,700 (including maxed out tax advantaged accounts, the rest post-tax savings and investments)...but that is so very close to 50K...I have not accounted for any raise this year in my budgeting, so if that happens I may be able to hit that mark.

(I just realized that three years ago, my savings rate was a big fat zero...I'm pretty impressed with the changes I've made over the last few years!)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on January 16, 2017, 08:55:29 AM
I'm going to use this thread as inspiration. My actual goal is 47,700 (including maxed out tax advantaged accounts, the rest post-tax savings and investments)...but that is so very close to 50K...I have not accounted for any raise this year in my budgeting, so if that happens I may be able to hit that mark.

(I just realized that three years ago, my savings rate was a big fat zero...I'm pretty impressed with the changes I've made over the last few years!)

nice work.. andy 2.3k could be easily side hustled as well.  check out ARS's thread on selling tradelines.  i make that much in about 3 months.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on January 16, 2017, 10:24:29 AM
I haven't run the final numbers, but it looks like we are falling just short of $100k for 2016. Seems like a good goal for 2017.

Worked out the numbers for our plan of attack:

401k + matching: $21,219
HSA: $3,350
Mandatory retirement + matching: $14,745 to $17,694
457: $0
403b: $0
Roth IRAs: $11,000
Car loan principal: $5,962
Mortgage principal: $10,058

Subtotal: $66,334 to $69,283

Taxable investments required to hit $100k: $30,717 to $33,666


We should be able to hit this as long as we keep our expenses the same or better than 2016.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FI@2022Jem on January 16, 2017, 11:54:39 AM
I'm in to try!  We are a couple but our goal will be $63,000 (toddler in daycare is slowing us down a bit...).

I have gotten close the last couple of years but never completely maxed my 401k but this is the year!  We have also never opened a taxable account but this year I plan to front load the 401k then open a taxable account once it's maxed.

401k: 18,000
401k match: 1,400
457 (available at side gig): 600
IRAís: 11,000
Mortgage Principal (3 loans): 22,000
Taxable: 10,000 (stretch goal)
------------------------------------------------
Total: $63,000
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: 2Birds1Stone on January 16, 2017, 12:12:31 PM
This is going to be a huge stretch goal of ours this year! But we are in :)

Retirement Contributions
$18,000 his 401k
$7,000 her 401k
$5,500 his Roth IRA
$5,500 her Roth IRA
$6,750 HSA

$42,750 Total

Non Retirement Contributions
$24,000 his Taxable
$12,000 his EF
$12,000 her EF
$6,000 her Taxable
$3,250 Combined Joint Travel Fund

$57,750 Total

$100,000 Grand Total
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Gimesalot on January 16, 2017, 03:58:46 PM
This year I'm in with a stretch goal:

401K & Match:                $25840
HSA:                               $3400
IRA:                                $5500
DH IRA:                           $5500
Taxable Savings:            $36000
=====================================
Total:                             $76240
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on January 17, 2017, 05:43:44 AM
This is going to be a huge stretch goal of ours this year! But we are in :)

Retirement Contributions
$18,000 his 401k
$7,000 her 401k
$5,500 his Roth IRA
$5,500 her Roth IRA
$6,750 HSA

$42,750 Total

Non Retirement Contributions
$24,000 his Taxable
$12,000 his EF
$12,000 her EF
$6,000 her Taxable
$3,250 Combined Joint Travel Fund

$57,750 Total

$100,000 Grand Total

why is your taxable so high with out maxing her 401k?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: 2Birds1Stone on January 17, 2017, 06:33:41 AM
why is your taxable so high with out maxing her 401k?

We are both in commissioned sales and both of our employers only allow a certain % of our BASE salary to be deferred into 401k.

In 2015 I was unable to max out my 401k despite earning $109k gross w-2 earnings.

It sucks, and despite our efforts to push for changes there has been no progress in this area.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on January 20, 2017, 09:57:42 AM
why is your taxable so high with out maxing her 401k?

We are both in commissioned sales and both of our employers only allow a certain % of our BASE salary to be deferred into 401k.

In 2015 I was unable to max out my 401k despite earning $109k gross w-2 earnings.

It sucks, and despite our efforts to push for changes there has been no progress in this area.

interesting and annoying.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: 2Birds1Stone on January 20, 2017, 10:03:29 AM

interesting and annoying.

I would say more so frustrating than annoying! That extra tax advantaged space would be precious at our tax bracket. It would allow her to qualify for the savers tax credit too!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on January 20, 2017, 10:41:18 AM
I'm in! I only worked for three months last year, so I spent a lot of my savings in 2016, so hoping to make up for some of that spending, and still trying to max out my 2016 Roth IRA and HSA.

401(K)    18,000
401(K) Match    7,200
2016 Roth IRA    1,500
2017 Roth IRA    5,500
2016 H.S.A.    513
2017 H.S.A.    3,400
Taxable    17,000
Total    53,113
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on January 20, 2017, 11:03:46 AM
I crashed and burned last year, and 'only' saved $36k of the projected $50k. I'm trying again this year.

TSP....$18,000
IRA....$5,500
After Tax....$26,000
Total $50,000

The process has been fully automated, and there's even an extra $5,000 built into the system. Maybe my goal should be $55,000, just to keep my nose to the grindstone.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on January 20, 2017, 08:24:50 PM
First month is done! (from an income/savings perspective at least)

January Update:
Bucket         Current / Goal
401k           $ 1,956 / $ 18,000
401k Match       $ 433 / $ 5,000
Roth IRA         $ 450 / $ 5,500
HSA              $ 283 / $ 3,400
Brokerage        $ 615 / $ 20,000
------------------------------------
Total          $ 3,727 / $ 50,000

January     $ 3,727    7.5%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on January 20, 2017, 10:04:21 PM
January 2017

401k + matching: $1,610 / $21,219
HSA: $1,900 / $3,400
Mandatory retirement + matching: $1,475 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $485 / $5,962
Mortgage principal: $826 / $10,058
Brokerage: $0 / $33,616

TOTAL: $17.3k / $100k


Roth IRA investment is obviously carry over from the previous year, but it will even out at the end of the year when I don't invest money earmarked for our 2018 Roth IRA contributions. I intend to make investments to my brokerage account three times this year, in April, July, and October.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: asauer on January 21, 2017, 09:54:32 AM
I'm in for this.  Paid off our mortgage earlier this month and will keep the same spending levels so all that extra will now go to investments.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on January 21, 2017, 11:44:56 PM
Woo, month #1 is done, savings-wise:


HSA:                   $479 / $5750
HSA Match:               $0 / $1000
401K After Tax:       $3817 / $27010
401K Employer Match:   $482 / $6885
Roth IRA:              $232 / $5500
401K Pre Tax:            $0 / $18000
Wife Traditional IRA:  $232 / $5500
Mortgage principle:    $689 / $8446
=====================================
Total:                $5931 / $78091 (7.6%)

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: K-ice on January 25, 2017, 08:28:05 PM
Hello!

Posting to follow & play a little later.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Stachless on January 25, 2017, 11:13:48 PM
My company contributes their 401k match in a lump sum, once per year.  Before Christmas I predicted that our match would be on the day the Dow hit 20k for the first time.  Guess what happened today?  Why am I never this right in Vegas??  Anyway, that does it for my month's savings:

YTD $                    YTD %
$23,746                23.5%

Looks like a sexy start on paper, but this was the easy part! This was mostly free money from pension contribution and 401k match i.e. no personal sacrifice or chance to get distracted by Vice Emergencies or shiny objects.  I'll get to max out my 401k for the year on 2/10/17, but then its on to those cursed 2016 IRAs.  We folks in sunny california only get to take home around half of our earned income (I'm MFJ, 5 dependents, claiming 12) That non-deductable $22k (for 2 years worth of me and wife's IRA) takes just about $45k of earnings.  Hey now if Phil Mickleson can be a complainy pants about California taxes so can I !!!

I have 12 'buckets' set up for this year, with a plan to knock out at LEAST one per month.  The highest hurdles should be cleared by May, allowing for a guilt-free summer that will make Rob Gronkowski blush!!  To paraphrase St. Augustine: MMM, make me Mustachian but not yet.  Baby steps!!




Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Dicey on January 25, 2017, 11:49:24 PM
Luckily, she is also on the frugal spectrum.
Oh, bigchrisb, that is hilarious! LMAO!!
Congratulations on your upcoming wedding! Sounds like you two are quite a pair. I wish you all the best. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrsTuxedocat on January 29, 2017, 01:24:26 AM
We'd like to join along -- this year we will try to save 75k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rife on January 29, 2017, 04:49:36 PM
We saved over 100000 last year and these are our goals for 2017. So far, we have unexpected bonus money coming, and I am making a lot in overtime, so we may surpass the goals by the end of the year. The emergency fund and college fund are on track to be done by June.

401K + match (mine) - 23000
401k + match (hers) - 22000
HSA (mine) - 3400
HSA (hers + child) - 6750

Emergency Fund - 15000
College Fund - 20000

Taxable brokerage - 12000
Mortgage principal - 8400

Total: $111550
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ThePaulAvery on January 29, 2017, 07:08:20 PM
100k is a stretch, but I think its good to reach.  A realistic goal for us in 2017 is $70k.  We hit $60k in 2016

TSP - $18k
Roth IRAs - $11k
Mortgage Principal - $4500
Student Loans - $32k
Taxable Accts - $??

A lot depends on the Mrs picking up an extra shift per week beginning in April.  We've already tightened up some spending holes during the UFM challenge in January and an extra $8k in salary should get us to $70k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on January 29, 2017, 08:15:44 PM
I would like to join in. $100,000 is going to be a very big challenge but let's see how in goes.

$18,000     401k
$ 1,500      401k match
$ 5,500      Roth IRA
$ 6,500      DH Roth IRA
$36,000     Mortgage
$10,500     Taxable Vanguard
$10,000     Archaeology Dig
$12,000     Debt

Gives me $100,000. Will be very excited if I could do this!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on January 30, 2017, 08:32:34 AM
2017 Progress against BlueHouse's Goal
 
  Year to date progress:       Saved          Goal
   401k                                2,000              24,000   
   401k match                    29,385              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings              -23,400            100,000   
------------------------------------------------------------------------------         
   YTD                                 14,485            160,500         9% of goal
   
January YTD savings             14,485          160,500          9%

ETA:  Math
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on January 31, 2017, 12:13:43 AM
January: $4993.76/50k (9.99%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: jorjor on January 31, 2017, 01:56:53 PM
We are $8,363 / $100,000 so right on track. Wife's backdoor Roth was maxed plus my 401k, HSA contribs, and $500/mo additional principal.

February will be a bigger month. Wife's 401k contribs at new job won't start until February (which was quite frustrating). I'll get a 10% contribution from my company into our profit sharing plan which essentially acts like a year-end 401k match. Should probably start holding back a bit of an extra reserve for doctor bills for little guy's arrival expected in April, so might not do any IRA/taxable contributions until we do that.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on January 31, 2017, 02:46:42 PM
January Totals:
GoalActualRemaining
401(K)18,0001,38516,615
401(K) Match7,2005546,646
2016 Roth IRA1,5001,000500
2017 Roth IRA5,50005,500
2016 HSA5130513
2017 HSA3,40003,400
Taxable17,000017,000
Total53,1132,93850,175

I'm at about 5.53% for the year. Most of my money went towards paying for an expensive trip, so I should be able to save more going forward.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on January 31, 2017, 04:24:44 PM
Luckily, she is also on the frugal spectrum.
Oh, bigchrisb, that is hilarious! LMAO!!
Congratulations on your upcoming wedding! Sounds like you two are quite a pair. I wish you all the best.

Glad it gets a giggle!  We are both definitely on the spectrum...

To update, January was a cracker of a month, with $24k saved, so 28% of target in the bank already.  However, it's a bit of an aberration, with a $16k tax refund skewing the numbers.  Target for remaining months = $12.4k/month.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on January 31, 2017, 05:50:20 PM
Luckily, she is also on the frugal spectrum.
Oh, bigchrisb, that is hilarious! LMAO!!
Congratulations on your upcoming wedding! Sounds like you two are quite a pair. I wish you all the best.

Glad it gets a giggle!  We are both definitely on the spectrum...

To update, January was a cracker of a month, with $24k saved, so 28% of target in the bank already.  However, it's a bit of an aberration, with a $16k tax refund skewing the numbers.  Target for remaining months = $12.4k/month.

Holy Smokes - $16k is a HUGE tax refund!  At least you put it to a good purpose - yourself! 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: rpr on January 31, 2017, 06:12:06 PM
It is inspiring to see all of you.

While I will join, it is a difficult cause as our combined income after taxes (DINKS) is not enough to reach this target.

Expected savings this year
403b his and hers $36k (employee contributions)
401a his and hers ~$15k (employer contributions)
Roth IRA his and hers $11k
Taxable $12k
No access to HSAs.

Total $74k

A realistic annual savings goal for us would be $80k (an extra $500 a month if we really trim expenses). 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on January 31, 2017, 07:31:00 PM
JANUARY
Fed TSP:   $1,482.68 / $18,000  ($16,517.32 remaining)
Trad IRA:    $687.48 / $5,500   ($4,812.52 remaining)
After Tax: $3,401.71 / $26,500  ($23,098.29 remaining)
Total:     $5,571.87 / $50,000 ($44,428.13 remaining)


The IRA and the TSP are automated to max out. I need to save $2208.33/month in my after tax account to hit $50k. I'm ahead! But it's only January.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on February 01, 2017, 04:20:35 AM
January update.  I had to wait until the end of the month as my 3rd TSP contribution hit occurred on the 31st and we got a pay raise so that added a tiny bit extra to my company match that I wasn't sure of down to the penny.

$5,500 Roth
$2100 to taxable
$1500 HSA
$62.50 Employer contribution to the HSA
$2079 TSP
$818.84 TSP Match
_______
$12,060.34

ETA:  The next few months won't be as good as I had some extra pet expenses and have a 4 week trip to New Zealand coming up.  I likely won't have another great month until the back half of the year. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: tryingtosave on February 01, 2017, 01:23:34 PM
This is so inspiring. Never looked at it this way but I am in and will try and see how much I can actually save. Although I probably can't hit 100k with 2 kids in daycare and supporting parents.

Expected:

401k    18,000
match   5,080
401k    18,000
match   6,500
taxable 12,000
mortgage principal 15,060

Total 74,640. With a little digging around and cutting some things. I guess my target would be 80k this year.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: HappierAtHome on February 01, 2017, 06:10:46 PM
January: $14,132 saved. 14% of the way there.

Need to make the most of still having two high incomes before parental leave punches us in the gut :D
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on February 03, 2017, 07:46:56 AM
Feb 1.

401k's - 2651/36k maxed
HSA - 606/6750 maxed
Roth's 11k Maxed
Company A Stock - 11k
401k A match - 149/3.25k
401k B match - 380/6.5k
Taxable 2000/26k

Total = 5786/100.5K
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: PharmaStache on February 05, 2017, 08:01:00 AM
We're in for 50k.  We are splitting my mat leave this year so our household income is down quite a bit.

5.5k TFSA 1
5.5k TFSA 2
3k RRSP
2.5k RESP 1
5k RESP 2
19500 TFSA 1
9000 Taxable
(not including pension contributions/matches this year)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on February 05, 2017, 09:00:47 AM
Last year I only reported quarterly but I'm going to do monthly this year if I can keep up with it.

January 2017:
401k Mrs:  $1,354 / $18,000 (8%)
401k Match Mrs: $0 / $2,400 (0%) :-(
401k Mr: $1,383 / $18,000 (8%)
401k Match Mr: $377 / $5,500 (7%)
HSA Mrs: $1,787 / $5,230 (34% - includes employer $ of $1,500)
HSA Mr: $1,040 / $1,520 (68% - includes employer $ of $1,000)
Taxable Investments:  $1,000 / $14,300 (7%)
Other Savings: $0 / $10,800 (0%)
College 529: $416 / $4,990 (8%)
Other College: $415 / $14,000 (3%)
Extra Mortgage Princ:  $1,667 / $27,668 (6%)
$9,440 / $122,408 (8% of original goal)

Not a sexy month by any means because no extra income and only a two-check month for us.
We are waiting to see what colleges Son#2 gets in to and whether we will get any aid so our 'Other College' goal may be adjusted depending on outcome.





Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: purple monkey on February 12, 2017, 04:21:33 PM
How are you able to save that much personally?

Are you owning or renting?

What specific MMM strategies work well for you?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on February 12, 2017, 06:19:38 PM
How are you able to save that much personally?

Are you owning or renting?

What specific MMM strategies work well for you?

We have high incomes around 165k. Plus side hustles.

We own an extremely expensive house 2100 amonth piti

We spend around 65k house taxes living expenses.

We travel hacked for cheap trips. We eat like kings on sub 300 a month for 2. We keep our home at 61 in the winter and 78 in the summer.

We don't have children yet but will soon.

We even own a boat with all this. We don't go out to eat much at all.

But most is due to insanely high income.

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on February 20, 2017, 06:48:07 PM
February numbers...


HSA:                   $958 / $5750
HSA Match:               $0 / $1000
401K After Tax:       $7634 / $27010
401K Employer Match:   $964 / $6885
Roth IRA:              $465 / $5500
401K Pre Tax:            $0 / $18000
Wife Traditional IRA:  $465 / $5500
Mortgage principle:   $1381 / $8446
=====================================
Total:                $11867 / $78091 (15.2%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on February 21, 2017, 10:14:20 AM
2017 Progress against BlueHouse's Goal
 
  Year to date progress:       Saved          Goal
   401k                                4,000              24,000   
   401k match                    29,895              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings               -3,400            100,000   
------------------------------------------------------------------------------         
   YTD                                 36,995            160,500         23% of goal
   
January YTD savings             14,485          160,500          9%
February YTD savings            36,995          160,500         23%

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on February 22, 2017, 07:27:34 PM
February Update:
Bucket         Current / Goal
401k           $ 3,893 / $ 18,000
401k Match       $ 865 / $ 5,000
Roth IRA       $ 1,550 / $ 5,500
HSA              $ 567 / $ 3,400
Brokerage      $ 1,043 / $ 20,000
------------------------------------
Total          $ 7,918 / $ 50,000

January     $ 3,727    7.5%
February    $ 7,918    15.8%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: DirtDiva on February 23, 2017, 06:57:40 AM
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

I'll need to find an extra 15k to put into the taxable account. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright on February 23, 2017, 08:17:48 AM
February numbers:

401k Starbright                         2,230 /  14,400                         
Starbright company match              0   /  1,000
401a w/ match DH                    2,160  /  12,960
457 DH                                        700   /  4,200
Roths                                           400  /  11,000
HSA                                             700  /   3,000
Extra Mortgage Principal              800  /   4,800
Taxable/Moneymarket                    70  /   8,640

$7,060/ $60,000  (11.76 %)

I have high hopes for March (barring potential medical bills). If we don't end up having big medical stuff I've decided to try for super low spend grocery/eat of our pantry/freezer and am hoping for a couple of hundred bucks to throw towards Roths next month.

Overall though I may need to take a better look at our budget. We may have made some charity commitments for this year that are going to get in the way of getting to 60k.


Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on February 24, 2017, 01:57:32 PM
February 2017:
401k Mrs:  $2,708 / $18,000 (15%)
401k Match Mrs: $0 / $2,400 (0%) :-(
401k Mr: $2,767 / $18,000 (15%)
401k Match Mr: $755 / $5,500 (14%)
HSA Mrs: $2,075/ $5,230 (40% - includes employer $ of $1,500)
HSA Mr: $1,082 / $1,520 (71% - includes employer $ of $1,000)
Taxable Investments:  $2,657 / $14,300 (19%)
Other Savings: $2,400 / $10,800 (22%)
College 529: $832 / $4,990 (17%)
Other College: $2,330 / $14,000 (17%)
Extra Mortgage Princ:  $3,334 / $27,668 (12%)
$20,939 / $122,408 (17% of original goal)

March promises to be WAY more exciting due to bonuses, third paycheck month, and Profit Sharing 401k deposit from Mr.Need2Save's employer! 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on February 27, 2017, 09:29:17 AM
everything that will happen in Feb has happened - so

$4750  / $18,000     401k     
$0        /  $ 1,500     401k match
$1500  /  $ 5,500     Roth IRA
$0        /  $ 6,500     DH Roth IRA
$8964  / $36,000     Mortgage
$300    / $10,500     Taxable Vanguard
$0        / $10,000     Archaeology Dig
$1270  / $12,000     Debt

$16914 / $100000

I am happy with this start. Target was $16,666 for Feb - on track.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on February 27, 2017, 11:22:21 PM
February: $7,583.38/50k (25.2%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RetirementDreaming on February 27, 2017, 11:41:48 PM
Feb 19.5% of goal.  Our stretch goal for the year is saving 148k which includes some mortgage pay down.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Dicey on February 28, 2017, 02:26:31 AM
Luckily, she is also on the frugal spectrum.
Oh, bigchrisb, that is hilarious! LMAO!!
Congratulations on your upcoming wedding! Sounds like you two are quite a pair. I wish you all the best.

Glad it gets a giggle!  We are both definitely on the spectrum...

To update, January was a cracker of a month, with $24k saved, so 28% of target in the bank already.  However, it's a bit of an aberration, with a $16k tax refund skewing the numbers.  Target for remaining months = $12.4k/month.
Oh, bigchrisb, I just saw your response. What an awesome start! That's a huge refund! One option would be to tweak your withholdings right now so you can save that money in the current year rather than waiting until next year to get another giant refund. That would make hitting your 2017 target even easier. Saving sooner also gives your investments more time to compound. Go, Chris, go!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Dicey on February 28, 2017, 02:37:55 AM
I would like to join in. $100,000 is going to be a very big challenge but let's see how in goes.

$18,000     401k
$ 1,500      401k match
$ 5,500      Roth IRA
$ 6,500      DH Roth IRA
$36,000     Mortgage
$10,500     Taxable Vanguard
$10,000     Archaeology Dig
$12,000     Debt

Gives me $100,000. Will be very excited if I could do this!
Hmmm, care to elucidate?

You're planning on spending 10 grand on an archeology dig, but you still have 12k (or more) in debt?

Also, this list may add up to 100k, but some of these items appear to be spending rather than saving.

I'm refraining from any facepunching for the time being, but it's only with great willpower.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on February 28, 2017, 03:49:40 PM
FEBURARY
              FEB         SO FAR      GOAL
Fed TSP:   $1,482.68 /  $2,965.36 / $18,000 
Trad IRA:    $229.16 /    $916.64 /  $5,500 
After Tax: $6,566.65 /  $1,968.36 / $26,500
Total:     $8,278.49 / $13,850.36 / $50,000


Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Jet9 on February 28, 2017, 04:58:44 PM
I'd like to join:

403B set to max at 18k

457 set to 18k (I just set this up to start in April. It doesn't leave me a lot of wiggle room, so I'm forced to work harder at reducing my budget. I decided it was worth the effort and would be a great challenge. I'm hoping this thread will keep me motivated! If not my empty bank account surely will.

Roth IRA at $5,500 (this year's went in in January, but I'm saving for next January 1st 2018 now).

Pension contributions: @$10,000

Total: $51,500
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on February 28, 2017, 05:17:45 PM
February update:

Feb was an (expected) shocker of a month.  Lots of spending on the wedding, and a stint in hospital for some surgery.  I'm glad I managed to avoid eating in to savings this month!

January: $24k (28%) saved.  Cumulative progress $24/86k (28%). 16.6% of time to target gone.
February: $5k (6%) saved.  Cumulative progress $29/86k (33.7%).  33% of time to target gone.

I'm on track after two months, but only just, and largely thanks to January's massive tax refund!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on February 28, 2017, 11:20:59 PM
I would like to join in. $100,000 is going to be a very big challenge but let's see how in goes.

$18,000     401k
$ 1,500      401k match
$ 5,500      Roth IRA
$ 6,500      DH Roth IRA
$36,000     Mortgage
$10,500     Taxable Vanguard
$10,000     Archaeology Dig
$12,000     Debt

Gives me $100,000. Will be very excited if I could do this!
Hmmm, care to elucidate?

You're planning on spending 10 grand on an archeology dig, but you still have 12k (or more) in debt?

Also, this list may add up to 100k, but some of these items appear to be spending rather than saving.

I'm refraining from any facepunching for the time being, but it's only with great willpower.
I just assumed they are being paid for the archaeological dig and paying down their debt.
This is a fair question. I will try to clarify.

Lets look at the loan. So I bought a c-max hybrid - could pay cash but since it is at 0.9% I make more money leaving the money where it is and pay the car. At 46.3 mpg it costs me $40 in gas a month - beats what I was paying in gas for the F150 - truck was my husbands idea - so the gas saved alone pays for the car. USAA in case I am anyone is curious where i get the 0.9%. No other debt.

I accept the archaeology dig is an expense but I put it there as I am saving for it - a 21st birthday gift to my daughter and field course towards her degree. Could I do it cheaper? Sure. But I don't want to. 2 months in Italy digging - living in a cloister - priceless. She works, bought her own books, car etc.

Hope this helps - face punching welcome!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on March 01, 2017, 05:21:07 AM
February update.  Still recovering from a high January Vet bill, I have funds set aside for that.  They are not included in my "savings" here.  I'm replacing them first with money that would normally be sent to my taxable account.  Same goes for the money I'm going to be spending in March for almost a month long vacation.  So I probably won't be speeding my going to my taxable for a few more months. 

$5,500/5500 Roth
$4200/41,110 to taxable
$1500/2600 HSA
$125/750 Employer contribution to the HSA
$3465/18000 TSP (401K)
$1372.76/7040 TSP Match
_______
$16162.76/$75,000
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: jorjor on March 01, 2017, 09:09:51 AM
$24,622 / $100,000

February was bigger than normal because my large annual profit sharing contribution hit my retirement account yesterday. We can't get there without a good amount of taxable account savings, which we have not started yet.  We're building up cash to cover medical bills related to the baby coming so we can let the HSA investments ride, and also to make sure we have a nice little buffer for when my wife is on unpaid leave for a few months thereafter. We will (hopefully) be back-loaded to get to $100k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on March 01, 2017, 12:19:15 PM
We are not on track yet to make the goal for the year, but things should rocket up here soon. March is 3 check month so that makes a dent, raise time is around April, and in June we go from full day daycare to the last kid moving over to elementary school summer program. Also, we paid for a lot of travel in February, both a February trip and an upcoming April trip. No additional travel currently planned the rest of the year except some camping/road trip in summer, much less $$.

So far, we are:
YTD 401k contributions: $5012.20
YTD 401k matching: $1188.23
YTD repayments on 401k loans: $1130.20
YTD HSA: $819.24
YTD cash savings: $2443

Total: $10,592.87, or 10.6% towards the $100k target.

Definitely behind, but at raise time we plan to max our 401k's, and I am still hopeful we can hit the $100k target by the end of the year. It is a stretch but I like a challenge and usually rise to the occasion.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: akzidenz on March 01, 2017, 01:34:47 PM
I didn't manage to do this in 2016, but I'm hopeful that 2017 will be the year (helped out by a nice little bonus that added $7,500 to my net worth!).

GoalSo farPercentage
401(k)$18,000$6,90038.3%
Roth IRA$5,500$5,500100%
Taxable$21,500*$4,00018.6%

* This works out to saving $1,800/month out of my take-home pay. This should be very doable, as long as I stay disciplined throughout the year! I'll also be getting some kind of raise in September, so that should give me a little extra to put into savingsÖ
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on March 01, 2017, 03:10:37 PM
February Totals:
GoalActualRemaining
401(K)18,0002,76915,231
401(K) Match7,2001,1086,092
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005005,000
2016 HSA5135130
2017 HSA3,40003,400
Taxable17,000017,000
Total53,1136,39046,723

I'm at 12.03% of what I'd like to save for the year, so I'm a little behind, but I am at least finished with my 2016 IRA and HSA, so I can move on to 2017's accounts.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on March 04, 2017, 10:03:11 AM
January 2017 - $17.3k

February 2017

401k + matching: $3,220 / $21,219
HSA: $2,850 / $3,400
Mandatory retirement + matching: $2,949 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $971 / $5,962
Mortgage principal: $1,659 / $10,058
Brokerage: $0 / $33,616

TOTAL: $22.6k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: LovesToTravel on March 04, 2017, 10:48:04 AM
We saved over 100000 last year and these are our goals for 2017. So far, we have unexpected bonus money coming, and I am making a lot in overtime, so we may surpass the goals by the end of the year. The emergency fund and college fund are on track to be done by June.

401K + match (mine) - 23000
401k + match (hers) - 22000
HSA (mine) - 3400
HSA (hers + child) - 6750

Emergency Fund - 15000
College Fund - 20000

Taxable brokerage - 12000
Mortgage principal - 8400

Total: $111550

I think your HSA plans ($3,400 + $6,750) could get you in trouble - even with 2 HSA accounts, you are limited to a total of $6,750 in contributions for the family.  You can't skirt the IRS yearly family contribution limit by having 2 HSA accounts.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rife on March 04, 2017, 11:08:35 AM
We saved over 100000 last year and these are our goals for 2017. So far, we have unexpected bonus money coming, and I am making a lot in overtime, so we may surpass the goals by the end of the year. The emergency fund and college fund are on track to be done by June.

401K + match (mine) - 23000
401k + match (hers) - 22000
HSA (mine) - 3400
HSA (hers + child) - 6750

Emergency Fund - 15000
College Fund - 20000

Taxable brokerage - 12000
Mortgage principal - 8400

Total: $111550

I think your HSA plans ($3,400 + $6,750) could get you in trouble - even with 2 HSA accounts, you are limited to a total of $6,750 in contributions for the family.  You can't skirt the IRS yearly family contribution limit by having 2 HSA accounts.

It didn't get us in trouble, but we did have to request the money to be pulled out and can't count the excess. Yes this was a mistake we found out about at tax time. We both work for the same company and have to be on separate plans but the family limit still only counts for us both.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on March 07, 2017, 09:35:31 AM
Both my husband and I got decent raises this year (found out in the past week) and the first thing we did was max out our 401k's, which for him includes 6k of catch up contribution. I think our savings numbers are really going to take off here soon. It seems like the 100k may actually happen, though there is still a lot of year left.

How many of you are including mortgage principal in your savings numbers? I wasn't planning to include it, but I see some people are. Thoughts on that?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on March 07, 2017, 10:02:18 AM
Both my husband and I got decent raises this year (found out in the past week) and the first thing we did was max out our 401k's, which for him includes 6k of catch up contribution. I think our savings numbers are really going to take off here soon. It seems like the 100k may actually happen, though there is still a lot of year left.

How many of you are including mortgage principal in your savings numbers? I wasn't planning to include it, but I see some people are. Thoughts on that?

Congratulations on the raises!  and especially for maxing out being "the first thing"!

Mortgage principal:  Last year, I  included the extra payments for principal in my numbers, but not the normal payment portion.  That made the most sense to me because I was consciously deciding where and how to stash that savings amount -- it wasn't a simple monthly expense. 

I have different savings goals this year, so that's why I'm not doing the same this year. 

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MishMash on March 07, 2017, 10:56:26 AM
We are in.  To toss a wrench in it, neither one of us gets ANY 401k match, and neither of us has access to an HSA.   Also, our end goal on taxable may come up short due to an upcoming life event towards the end of the year.

where we are at so far/end goal

401k me-- 18k (front loading, should be done next paycheck)

TSP-- 3k/28k DH got a surprise deployment for a short period, 15k will be going in the Roth option and additional 10k in the standard by early summer.

Roths x 2--11,000/11,000 (done)

Principle on house--4,809/19,300

Taxable: 0/$40,000

Dividends and interest on taxable accounts only (not sure if you guys include this or not) somewhere between $16k and $20k this year.

Looking at 116,300 without dividends being counted, and up to 136k if they are.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on March 07, 2017, 05:57:16 PM
How many of you are including mortgage principal in your savings numbers? I wasn't planning to include it, but I see some people are. Thoughts on that?

Congrats on the raises!  Another vote here for counting the 'extra' principal only but not what is normally required for your payment.  Like BlueHouse, I view it as funneling extra savings into another one of our ER goals in lieu of buying more share of my favorite index fund.  Both options fuel our FIRE goals but I don't count what I HAVE to pay the bank each month.   
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on March 08, 2017, 10:44:36 AM
Thanks for the congratulations, and the thoughts on mortgage principal. With a rate of 3.25% on a 30 year fixed loan, and the fact that we don't plan to retire in place but sell and downsize substantially, we are not planning on paying extra on the mortgage. I won't include regular principal payments in my savings numbers; it does make sense if you're paying down extra on it though.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on March 08, 2017, 11:27:44 AM
I won't include regular principal payments in my savings numbers; it does make sense if you're paying down extra on it though.

Does it not make sense to include principal payments as savings when you aren't paying extra? In theory you could get that money out (and invest it or something) with a HELOC or by selling the property. I figure that anything that increases my net worth (assets minus liabilities), not counting investment gains/dividends, is savings. In this case even just making a normal minimum mortgage payment you are decreasing your liabilities which increases your net worth.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FrugalFan on March 08, 2017, 12:28:54 PM
I won't include regular principal payments in my savings numbers; it does make sense if you're paying down extra on it though.

Does it not make sense to include principal payments as savings when you aren't paying extra? In theory you could get that money out (and invest it or something) with a HELOC or by selling the property. I figure that anything that increases my net worth (assets minus liabilities), not counting investment gains/dividends, is savings. In this case even just making a normal minimum mortgage payment you are decreasing your liabilities which increases your net worth.

This is just for motivation so you do what works for you. If counting your mortgage principal brings you to a nice round number that motivates you, why not? Personally, I'm with RWD. I'm counting everything we directly contribute to our NW by either paying down debt or increasing savings. So if we pay down/invest 100k this year, then that is what our NW would increase by as a direct result of our actions, ignoring market gains/losses.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on March 08, 2017, 01:11:52 PM
Quote
This is just for motivation so you do what works for you.

+1.  I haven't seen any "Savings Police" around here lately.  Whatever motivates you to reach your goals is almost always the right thing. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on March 08, 2017, 02:27:09 PM
My husband was arguing for including the principal payments in savings, and I wanted to hit the 100k without including it. I can see both sides though as it IS going to our net worth, especially since we plan to sell and downsize into something much smaller that we'll buy outright in retirement. For now I am tracking savings with and without the mortgage principal, but my 100k couple goal here is to make it without the principal.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: LiquidLen on March 10, 2017, 12:09:56 PM
Totally going for it. I think I can. I already made 20% of it.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FrugalFan on March 10, 2017, 01:11:41 PM
February update
Investment stash only:
$6000/$47000 TFSA 1
$6000/$45000 TFSA 2
$1847/$11086 Pension contributions 1
$2032/$12193 Pension contributions 2
$1231/$7391 Employer match 1
$1354/$8128 Employer match 2
$0/$3000 RRSP 1
$0/$2800 RRSP2
Total: $18,464/$136,598 (15%)

Non-stash extras:
$1827/$1827 Mortgage Principal
$834/$5000 RESP
$0/$1000 RESP government match

Grand Total:$21,125 $142,598

A bit behind, but it took one extra month to pay off the mortgage, and we get paid slightly less for the first 6 months of the year. I think we are still on track.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Bateaux on March 10, 2017, 11:46:16 PM
I don't think we've ever hit 100k saved in new investment yet.  This could be the first.   However with our working capitol were gaining over $500 per day in NW considering a 7 % return and new money invested.  I think total NW was over a 200k gain in 2016.  Would love to get to $1000 per day NW gain.  Would take a roaring stock market but within possibility.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: sieben on March 15, 2017, 08:17:39 PM
Seems like a bit of a stretch goal for me, but I'd like to give it a goal ;)
I was only able to save $37,156.22 in 2016 so this should make me push a bit harder hopefully!

2017
RRSP: +11000
TFSA: +5500
Margin: +28500
P2P: +5000

I've already maxed out my TFSA and RRSP for the year. I'll be spending the rest of the year throwing whatever I can into my margin account.
I'm slowly trickling money into my P2P account up here in Canada as well. It's a tiny marketplace compared to the US so I don't like putting too much in at once.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RetirementDreaming on March 16, 2017, 12:05:41 AM
We are in.  Came up short in 2016 with 92,348.   Plan for 2017 is:

   
Mortgage        $50,000
Savings          $6,190
401k Match     $12,000
ESPP                 $10,000
401k                 $41,000
H S A           $7,750
Roth                 $12,000
========   ======
Total                  $138,940

End of Feb=  19.5%

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rife on March 18, 2017, 04:19:52 PM
To update, we got bigger annual bonus' than we planned since our CEO authorized more than the official formula was supposed to pay out (so like yay!). We have the 15000 in emergency funds in place, and 5000 of the 20000 for the college fund. After that money is going to non-IRA brokerage. The rest is auto withdraws that are on track.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: flyingby on March 21, 2017, 08:05:33 AM
Joining in!

 
Goal/March 20th
 
401k
$17,500/$4,800
 
401k Match
$7,200/$4,800
 
403b*
$1,350/$312
 
403b Match
$1,350/$312
 
Roth IRA (Him)
$5,500/$5,500
 
Roth IRA (Her)
$5,500/$5,500
 
Mortgage Paydown
$7,080/$1,770
 
Cash
$55,000/$0
 
Total
$100,480/$22,993
 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on March 22, 2017, 09:31:26 AM
March numbers...

I got a larger than expected bonus as well as a nice raise.  Also, the HSA match from my employer hit as well.  Given those, I calculated I'll actually be able to max out my 401K entirely (ie. reaching the annual defined contribution limit of $54,000 for 2017) for the first time.  I'll keep my original total I calculated at the beginning of the year, and if I go over, I'll make the percentage greater than 100%.


HSA:                   $1437 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $24222 / $27010
401K Employer Match:   $2616 / $6885
Roth IRA:              $1750 / $5500
401K Pre Tax:             $0 / $18000
Wife Traditional IRA:  $1750 / $5500
Mortgage principle:    $2076 / $8446
=====================================
Total:                $34851 / $78091 (44.6%)



On a related note, what happens when you hit the annual defined contribution max?  I'm assuming that the 401k contributions are automatically calculated so I don't go over the $54,000 limit?  Or maybe not?  Anyone know?

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dogboyslim on March 22, 2017, 09:32:39 AM
We are in:

Source               Goal        YTD    Remaining
-------------------------------------------------
401(K)             18,000      4,909       13,091
Match              24,000     15,876        8,124
Taxable            60,400     37,900       22,500
Debt Reduction      7,700      1,932        5,768
-------------------------------------------------
Total             110,100     60,617       49,483

A decent chunk of our compensation happens in Q1, so it will slow down from here.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on March 22, 2017, 10:14:40 AM
March numbers...

I got a larger than expected bonus as well as a nice raise.  Also, the HSA match from my employer hit as well.  Given those, I calculated I'll actually be able to max out my 401K entirely (ie. reaching the annual defined contribution limit of $54,000 for 2017) for the first time.  I'll keep my original total I calculated at the beginning of the year, and if I go over, I'll make the percentage greater than 100%.


On a related note, what happens when you hit the annual defined contribution max?  I'm assuming that the 401k contributions are automatically calculated so I don't go over the $54,000 limit?  Or maybe not?  Anyone know?

Awesome!  Hitting that $54K is a huge help in getting to FI so much faster.  If not for that, I'd be looking at FI at least 10 years later! 

As for going over the limit....I've always had it calculated, but I'm not sure if that's a requirement that they do so, or if most just do.  The only time you are likely to get into trouble with that is if you start a new employer mid-year without telling them how much you've already contributed. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on March 23, 2017, 06:45:10 AM
On a related note, what happens when you hit the annual defined contribution max?  I'm assuming that the 401k contributions are automatically calculated so I don't go over the $54,000 limit?  Or maybe not?  Anyone know?

It would be best to ask this question of your payroll or HR department because different employers handle it different ways.  Assuming they have an accumulator in their payroll system, they should stop your contributions for the rest of the year when you hit the maximum but even the logic in the payroll system sometimes fails.  However - do you contribute a fixed dollar amount, or fixed percentage of your pay?  Also, does your company true up matching contributions so you are not cheating yourself out of the match for the pay periods that you are not contributing?  hopefully so. 

Congrats on the big bonus, by the way. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on March 23, 2017, 06:47:18 AM
We are in:

Source               Goal        YTD    Remaining
-------------------------------------------------
401(K)             18,000      4,909       13,091
Match              24,000     15,876        8,124
Taxable            60,400     37,900       22,500
Debt Reduction      7,700      1,932        5,768
-------------------------------------------------
Total             110,100     60,617       49,483

A decent chunk of our compensation happens in Q1, so it will slow down from here.

That is a huge 401k match.  Totally jealous over here.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on March 24, 2017, 11:13:00 AM
February 2017:
$20,939 / $122,408 (17% of original goal)

March promises to be WAY more exciting due to bonuses, third paycheck month, and Profit Sharing 401k deposit from Mr.Need2Save's employer! 

March has not dissapointed.  It was an extra check month, we got bonuses, and the MR got $5,000 in 401k profit sharing.
Here are the new totals (it's less exciting from here on out)

MARCH UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $4,738 / $18,000 (26%)
401k Match Mrs: $0 / $2,400 (0%)
401k Mr: $4,842 / $18,000 (27%)
401k Match Mr: $6,321 / $5,500 (115%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $2,791/ $5,230 (53% - includes employer $ of $1,500)
HSA Mr: $1,141 / $1,520 (75% - includes employer $ of $1,000)
Taxable Investments:  $17,584 / $14,300 (123%)
Other Savings: $2,400 / $10,800 (22%)
College 529: $1,248 / $4,990 (25%)
Other College: $2,745 / $14,000 (20%)
Extra Mortgage Princ:  $16,234 / $27,668 (59%)
$60,048 / $122,408 (49% of original goal)

We did not plan to pay quite as much on our extra mortgage payment, but our credit union processed the transfer as a manual check instead of electronic transfer and the bank applied the whole thing to the principal.  I could have called to have them adjust it, but we decided to leave it alone and transfer the amount of our regular payment in time for April due date to avoid getting off track on our payment schedule. It just speeds up our pay off date by at least one more month which is fine by me. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on March 24, 2017, 08:50:03 PM
March Update:
Bucket         Current / Goal
401k           $ 5,834 / $ 18,000
401k Match     $ 1,297 / $ 5,000
Roth IRA       $ 2,050 / $ 5,500
HSA              $ 850 / $ 3,400
Brokerage      $ 1,802 / $ 20,000
------------------------------------
Total         $ 11,838 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on March 29, 2017, 07:09:25 PM
March Numbers

$6,480     / $18,000     401k     
$1,500     /  $ 1,500     401k match
$2,750     /  $ 5,500     Roth IRA
$0            /  $ 6,500     DH Roth IRA
$17,664   / $36,000     Mortgage
$450        / $10,500     Taxable Vanguard
$0            / $10,000     Archaeology Dig
$1400      / $12,000     Debt

$30,144 / $100,000

30% on track
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on March 29, 2017, 08:28:06 PM
January 2017 - $17.3k
February 2017 - $22.6k

March 2017

401k + matching: $5,635 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $4,424 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $1,459 / $5,962
Mortgage principal: $2,485 / $10,058
Brokerage: $11,000 / $33,616

TOTAL: $39.4k / $100k


Made our Q2 investment a little early so it fell into March instead of April. Everything seems to be progressing fine to hit the $100k goal.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on March 30, 2017, 10:00:24 AM
March numbers are in! March is a 3 check month for us, we maxed our 401ks starting with the second check (will have to adjust withholdings down a percent towards the end of the year), and we got our 2% company contribution (on top of the regular 3% match, there is an annual 2% contribution) for last year.

So far, we are:

Jan: $3913.79
Feb: $6679.08
March: $13289.36
Total YTD: $23,882.23, or 23.88% towards the $100k target, broken out as follows:

YTD 401k contributions: $9826.68
YTD 401k matching: $7313.53
YTD repayments on 401k loans: $2902.85
YTD HSA: $1396.17
YTD cash savings: $2443

Still not QUITE on track to hit $100k, but we are moving in the right direction. In June we go from paying crazy expensive preschool to public school before/after/summer program, so that will help a lot, and of course the 401k contributions will be higher the rest of the year than they were in Jan/Feb.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on March 30, 2017, 03:45:33 PM
On a related note, what happens when you hit the annual defined contribution max?  I'm assuming that the 401k contributions are automatically calculated so I don't go over the $54,000 limit?  Or maybe not?  Anyone know?

It would be best to ask this question of your payroll or HR department because different employers handle it different ways.  Assuming they have an accumulator in their payroll system, they should stop your contributions for the rest of the year when you hit the maximum but even the logic in the payroll system sometimes fails.  However - do you contribute a fixed dollar amount, or fixed percentage of your pay?  Also, does your company true up matching contributions so you are not cheating yourself out of the match for the pay periods that you are not contributing?  hopefully so. 

Congrats on the big bonus, by the way.

Thanks...

I called up the HR department, who told me to call Fidelity.  Fidelity said that once I hit the $54k, it will automatically cease coming out of the paycheck.  I do wish that they allowed us to have a certain dollar amount taken out, but they only allow a certain percentage to be taken out instead.  I've had to create a crazy spreadsheet that calculates out how much I need to take out percentage-wise each paycheck throughout the year (after tax/pre tax) in order to maximize the amount of contributions by year end.  Since I frontload all my contributions each year, the percentage changes 8 times throughout the year and ranges from 6% to 50% in order to hit the maximum, and do it so that I hit $54k on the last paycheck of the year.  I contribute at least 6% each pay period so that I don't have to worry about getting the company match.

Thanks all for the help!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on March 30, 2017, 06:44:01 PM
March update:

March was a pretty solid savings month, helped out by a high point in the dividend payment cycle.

January: $24k (28%) saved.  Cumulative progress $24/86k (28%). 16.6% of time to target gone.
February: $5k (6%) saved.  Cumulative progress $29/86k (33.7%).  33% of time to target gone.
March: $18.9k (22% saved).  Cumulative progress $48/86k (56%).  50% of time to target elapsed. 

I'm ahead of the curve on this month's data.  However I probably need to be, as May and June are low dividend months. To hit my goal, I'll need to keep monthly spend under $3k a month total spend for the next three months. I can do that!

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on April 01, 2017, 08:33:07 AM
Ugh.  March was not very satisfying. 

2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                                6,000              24,000   
   401k match                    30,405              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings               -3,400            100,000   
------------------------------------------------------------------------------         
   YTD                                 39,505            160,500         25% 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%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on April 01, 2017, 09:11:00 AM
MARCH
              MAR         YTD        GOAL
Fed TSP:   $1,506.34   $4,471.70    $18,000 
Trad IRA:  $458.84     $1,375.48    $5,500
After Tax: $3,644.04   $13,612.40   $26,500
Total:     $5,609.22   $19,459.58   $50,000

Jan YTD Savings:   $5,571.87   (11% of goal) 
Feb YTD Savings:   $13,850.36  (28% of goal)
Mar YTD Savings:   $19,459.58  (39% of goal)


March was pretty good for me. I'm 40% of the way to the goal, in Q1. Things will be slower during the rest of the year, but hopefully they'll continue being better than I expected.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: jorjor on April 01, 2017, 11:41:05 AM
Got a larger than expected mid-year bonus!

That's about it for positive financial happenings in March. We didn't invest it as we normally would, since the baby is due at the end of April. Setting money aside for medical bills, a chunk for new windows, and a bit extra ER fund since wife will be off work for a bit and we can't cash flow quite as much. We were a bit spendy doing some things together that will be harder after baby comes (a trip alone together, a bit more eating out than normal, etc.) and getting some baby items. Therefore, it was just our scheduled 401k contribs and match. No worries, we planned for things to be backloaded anyway.

But hey, baby is due at the end of April! We're so excited, and are happy with how we've planned things financially in advance of Little Guy's arrival with the help of everything we've learned on this site.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on April 01, 2017, 11:54:33 AM
March: $4,970.82

YTD: $17,547.96/50k (35.1%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on April 03, 2017, 04:28:55 AM
March update.

$5,500/5500 Roth
$6300/41,110 to taxable
$1500/2600 HSA
$187.5/750 Employer contribution to the HSA
$4851/18000 TSP (401K)
$1926.68/7040 TSP Match
_______
$20265.18/$75,000
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Khan on April 03, 2017, 06:57:08 AM
I think this is now my goal for rolling year May 2017- April 2018. Single, 50k.
Known/will accomplish
~100k income
~1800/month hard costs

Saving:
-18k max 401k
-Employer contribution ~4k
-Max HSA contribution
-ROTH (won't actually affect savings, just moving money from taxable -> ROTH
-attempt to save ~25-30k in taxable account.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on April 05, 2017, 10:24:31 AM
March Totals:
GoalActualRemaining
401(K)18,0003,46714,533
401(K) Match7,2001,3875,813
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5001,5004,000
2016 HSA5135130
2017 HSA3,4006802,720
Taxable17,000017,000
Total53,1139,04744,066
17% done... Definitely behind.

The good news is I received a raise since last posting... The bad news is it's a laughably small raise (less than one percent) because I only worked here a few months in 2016. At least I don't have to redo my 401(K) contribution percentage to get the full match!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on April 05, 2017, 03:12:51 PM
Here's the Q1 update

                         (through 4/7 paycheck)
GOALS                       ACTUAL (Q1)
Pension savings $12K   3397 28%
457 savings $24K         7000 29%
403b savings $12K       3500 29%
IRA savings $6.5K        6500 100% (OK, I forgot I had already contributed to my 2016 account, so I have everything saved for 2017.  I'm depositing it this week.  Onward to saving for 2018!)
After tax savings $4K    2773 69%
TOTAL $58.5K ($8K higher goal than 2016)  23,170 39% in Q1
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on April 12, 2017, 01:44:07 PM
April update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                                8,000              24,000   
   401k match                    30,915              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings               21,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 67,015            160,500         42% 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%
[/quote]
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: rpr on April 12, 2017, 03:09:22 PM
April update:  2017 Progress against Goal
  Year to date progress:       Saved          Goal
   401k                                8,000              24,000   
   401k match                    30,915              30,000   


I just want to say that this is an amazing 401k match.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on April 12, 2017, 03:12:28 PM
April update:  2017 Progress against Goal
  Year to date progress:       Saved          Goal
   401k                                8,000              24,000   
   401k match                    30,915              30,000   


I just want to say that this is an amazing 401k match.
I'm turning 50 this year, so I think that match will increase to 36K for a total 401k contribution of $60k, (but i won't get it until next year)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: rpr on April 12, 2017, 03:21:14 PM
April update:  2017 Progress against Goal
  Year to date progress:       Saved          Goal
   401k                                8,000              24,000   
   401k match                    30,915              30,000   


I just want to say that this is an amazing 401k match.
I'm turning 50 this year, so I think that match will increase to 36K for a total 401k contribution of $60k, (but i won't get it until next year)
I thought there was an IRS limit of $54K on the total.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dogboyslim on April 14, 2017, 12:11:06 PM
Quote
The annual additions paid to a participantís account cannot exceed the lesser of:
100% of the participant's compensation, or

$54,000 ($60,000 including catch-up contributions) for 2017;  $53,000 ($59,000 including catch-up contributions) for 2016.

From: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on April 14, 2017, 12:52:12 PM
Quote
The annual additions paid to a participantís account cannot exceed the lesser of:
100% of the participant's compensation, or

$54,000 ($60,000 including catch-up contributions) for 2017;  $53,000 ($59,000 including catch-up contributions) for 2016.

From: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits
Thanks for that link.  I've been confused about whether that $6K was a net increase or whether it just moved from the employer contribution bucket to the employee contribution bucket.  Good to know that I will be able to contribute $60K total this year to my 401k!  That's awesome!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on April 21, 2017, 09:02:43 AM
April numbers...

Almost done with maxing out my after tax 401k contributions (which I'll be rolling over to a Roth IRA) for the year.  Yay!


HSA:                   $1917 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28359 / $27010
401K Employer Match:   $3113 / $6885
Roth IRA:              $1750 / $5500
401K Pre Tax:             $0 / $18000
Wife Traditional IRA:  $1750 / $5500
Mortgage principle:    $2773 / $8446
=====================================
Total:                $40662 / $78091 (52%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on April 21, 2017, 01:30:58 PM
April Update:
Bucket         Current / Goal
401k           $ 7,785 / $ 18,000
401k Match     $ 1,730 / $ 5,000
Roth IRA       $ 2,050 / $ 5,500
HSA            $ 1,133 / $ 3,400
Brokerage      $ 2,901 / $ 20,000
------------------------------------
Total         $ 15,599 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Gimesalot on April 24, 2017, 08:19:28 AM
I forgot that I set this as a goal!  Here are my numbers through March:

401K & Match:                $5963   / $25840  (23%)
HSA:                               $785     / $3400    (23%)
IRA:                                $5500   / $5500    (100%)
DH IRA:                           $0         / $5500    (0%)
Taxable Savings:            $12000 / $36000  (33%)
=====================================
Total:                             $24248  / $76240 (32%)

It looks like I am a little ahead of schedule! Unfortunately, I don't expect this to continue as I have some major house renovations coming up soon.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on April 27, 2017, 08:44:29 AM
April Numbers

$8,891     / $18,000     401k     
$1,500     /  $ 1,500     401k match
$3,250     /  $ 5,500     Roth IRA
$0            /  $ 6,500     DH Roth IRA
$22,964   /  $36,000    Mortgage
$700        /  $15,000    Taxable Vanguard
$3300      /  $5,000      Archaeology Dig (Grant given so shifted more to taxable)
$2300      /  $12,000    Debt

$42,905 / $100,000

42.9% on track. Helps if I am not in a hurry!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on April 27, 2017, 12:24:03 PM
April numbers are in. We didn't really have additional savings (beyond our pre-tax) this month because we took an amazing trip to Italy. We are a little behind for the year given that fact, but we are also out of vacation time, so we should be able to make it up before the end of the year.

So far, we are:

Jan: $3913.79
Feb: $6679.08
March: $13289.36
April: $5136.54
Total YTD: $29,022.23, or 29% towards the $100k target, broken out as follows:

YTD 401k contributions: $13,428.64
YTD 401k matching: $7,944.67
YTD repayments on 401k loans: $3,417.95
YTD HSA: $1,780.79
YTD cash savings: $2450.18

I'd really like to up our savings rate substantially. Current month was 33.7%, and year to date is 39%. I want to see 50%, but it's unlikely with the current childcare expenses.

Onward to May...
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on April 28, 2017, 09:07:31 AM
April: $4,026.05

YTD: $21,574.01/50k (43.1%)

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MishMash on April 28, 2017, 05:13:57 PM
Whelp, just quit my job so I guess I am dropping out for this year YTD we saved 35k after an unexpected and high tax bill due to an estate distribution that we thought had been paid prior to distribution.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on April 29, 2017, 06:09:09 AM
APRIL UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $6,144 / $18,000 (34%)
401k Match Mrs: $0 / $2,400 (0%)
401k Mr: $6,225 / $18,000 (35%)
401k Match Mr: $6,700 / $5,500 (122%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $2,791/ $5,230 (53% - includes employer $ of $1,500)
HSA Mr: $1,182 / $1,520 (78% - includes employer $ of $1,000)
Taxable Investments:  $21,285 / $14,300 (149%)
Other Savings: $4,800 / $10,800 (44%)
College 529: $1,665 / $4,990 (33%)
Other College: $2,745 / $14,000 (20%)
Extra Mortgage Princ:  $17,798 / $27,668 (64%)
TOTAL: $71,337 / $122,408 (58% of original goal)

Nothing exciting for April but each little bit helps.  We are really pleased at how much we've been able to put into taxable investments so far this year.

Keep up the great work, everyone!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on April 30, 2017, 07:43:10 AM
January 2017 - $17.3k
February 2017 - $22.6k
March 2017 - $39.4k

April 2017

401k + matching: $7,245 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $5,898 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $1,947 / $5,962
Mortgage principal: $3,318 / $10,058
Brokerage: $11,000 / $33,616

TOTAL: $43.8k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on April 30, 2017, 08:23:43 AM
Singleton here.

So far this year (Jan - April):

Mortgage Principal:  $2779
401a (my contribution + employer's contribution:  $5175
403b:  $8400
457:  $4500

Total:  $20,854

Should be no problem for me to hit the $50K mark.  What will be more challenging is to max out both my 403b and my 457 (I can put $24k in each, because I am a respected elder).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on April 30, 2017, 05:49:01 PM
APRIL
              MAR         YTD        GOAL
Fed TSP:   $1,549.66    $6,021.36   $18,000 
Trad IRA:    $459.36    $1,834.84    $5,500
After Tax:   $706.90   $14,319.30   $26,500
Total:     $2,715.92   $22,175.50   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)


Definitely a slower month, but I'm still pretty pleased with the progress. I'm participating in the Hella Cheap-Ass May. The highest my savings rate could go is 71% of net. Let's see how close I can get.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on May 01, 2017, 06:17:47 AM
Time for an update as dust is settling around some unexpected expenses.

401k's - 36k  / 10500
HSA - 6750   /  2216
Roth's 11k    /   11k
Company A Stock - 11k
401k A match - 3.25k   / 750
401k B match - 6.5k     /  1300
Taxable 26k     / 2000

Total = 27k    /    100.5K  27%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: DirtDiva on May 02, 2017, 05:23:40 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). 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on May 02, 2017, 10:11:26 PM
Sadly, I have blown mine in April.  Combination of a honeymoon, costs associated with an upcoming kid, and booking in a bucket list trip for before the kid arrives.  Sadly I'm out for this one from here on in.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on May 05, 2017, 05:32:08 PM
April update.

$5,500/5500 Roth
$8400/41,110 to taxable
$2500/2600 HSA
$250/750 Employer contribution to the HSA
$6237/18000 TSP (401K)
$2480.6/7040 TSP Match
_______
$25367.6/$75,000

Just learned I will likely blow my investing out of the park.  I'm being transferred so could see an extra $100,000 put into my taxable account as I will be most likely converting not insignificant housing gains into investments.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on May 10, 2017, 06:01:00 PM
April Totals:
GoalActualRemaining
401(K)18,0004,86313,137
401(K) Match7,2001,9455,255
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5002,5003,000
2016 HSA5135130
2017 HSA3,4001,3602,040
Taxable17,000017,000
Total53,11312,68240,431

Ended April 23.88% done. I actually also had about $1,200 I could have moved to taxable savings, but I was anticipating an expensive May with some one-off expenses, so I'm holding off and just leaving it in my savings account for now. (ETA that this was actually May money that I moved, but I did this April summary so far into May that I forgot when this happened.) So far I've been right, with a several hundred dollar medical bill, airfare for my summer vacation, and purchasing Hamilton tickets. (I'm pretty happy about two of those expenses though!) I'm hoping that my tax refund finally comes through in May, so my percent saved could make a big jump this month!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on May 26, 2017, 01:53:07 AM
May numbers...

Just finished rolling over the 401K after tax to my Roth/Rollover IRAs.  Now, working on finishing up the contributions to the Roth/Traditional IRAs.


HSA:                   $2396 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $3609 / $6885
Roth IRA:              $3481 / $5500
401K Pre Tax:           $310 / $18000
Wife Traditional IRA:  $3481 / $5500
Mortgage principle:    $3473 / $8446
=====================================
Total:                $46419 / $78091 (59%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on May 26, 2017, 06:07:07 AM
may month end

401k's - 36k  / 13070
HSA - 6750   /  2619
Roth's 11k    /   11k
Company A Stock - 11k
401k A match - 3.25k   / 1086
401k B match - 6.5k     /  1611
Taxable 26k     / 8600

Total = 38k    /    100.5K  38%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: moonpalace on May 26, 2017, 07:25:39 AM
I love this thread! So inspiring!

I'm late to the party but posting to follow, and track progress toward our goal of $75-80k for 2017

Solo 401k (employee)     $18,000
Solo 401k (employer)     $15,000
401a (incl. match)       $11,100
457                      $5,720
Debt principal           $28,827

TOTAL                    $78,647

The only real question mark in this is the "employer" contribution to the 401k; that will be a stretch. The rest is on autopilot. Also, there will be a pretty good tax refund if I get close to that $15k employer contribution goal (~$7k). Great motivation, and would be an awesome jump-start for next year's savings goals!
           
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on May 26, 2017, 11:19:45 AM
I have my May numbers, as it's unlikely anything will be added before June. May was our last month will full day preschool!! June is not much lower because the middle child goes from before/after school care to full day summer care, but we'll start seeing a lot of savings there over the next few months, plus we should have our flex spending money reimbursed starting in June.

So far, we are (made a few adjustments to earlier numbers after fixing my spreadsheet math, but they are minor):

Jan: $3913.79
Feb: $6682.73
March: $13292.82
April: $5136.54
May: $5736.67
Total YTD: $34,765.74, or 34.7%% towards the $100k target, broken out as follows:

YTD 401k contributions: $17,030.60
YTD 401k matching: $8,575.81
YTD repayments on 401k loans: $4,533.05
YTD HSA: $2,165.41
YTD cash savings: $2460.87

savings rate for May was 37%, up from 33.7% in April. The numbers sure do add up quickly now that our 401k's are maxed, especially with my husband being able to make catch-up contributions.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on May 26, 2017, 02:44:28 PM
APRIL UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $6,144 / $18,000 (34%)
401k Match Mrs: $0 / $2,400 (0%)
401k Mr: $6,225 / $18,000 (35%)
401k Match Mr: $6,700 / $5,500 (122%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $2,791/ $5,230 (53% - includes employer $ of $1,500)
HSA Mr: $1,182 / $1,520 (78% - includes employer $ of $1,000)
Taxable Investments:  $21,285 / $14,300 (149%)
Other Savings: $4,800 / $10,800 (44%)
College 529: $1,665 / $4,990 (33%)
Other College: $2,745 / $14,000 (20%)
Extra Mortgage Princ:  $17,798 / $27,668 (64%)
TOTAL: $71,337 / $122,408 (58% of original goal)

MAY UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $7,530 / $18,000 (42%)
401k Match Mrs: $0 / $2,400 (0%) - won't change until July :-(
401k Mr: $9,830 / $18,000 (55%)
401k Match Mr: $7,092 / $5,500 (129%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $3,077/ $5,230 (59% - includes employer $ of $1,500)
HSA Mr: $1,220 / $1,520 (80% - includes employer $ of $1,000)
Taxable Investments:  $22,483 / $14,300 (157%)
Other Savings: $4,800 / $10,800 (44%) - no change
College 529: $2,080 / $4,990 (42%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $19,358 / $27,668 (70%)
TOTAL: $80,217/ $122,408 (66% of original goal)

This was our lowest total $ saved month so far ($8,892) just because the way certain things are funded quarterly and with no extra checks, etc. We still appear to be ahead of schedule and on track to hit our stretch goal this year. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on May 27, 2017, 09:53:05 AM
May Numbers

$10,063    / $18,000     401k     
$1,500     /  $ 1,500      401k match
$3,750     /  $ 5,500      Roth IRA
$0           /  $ 6,500       DH Roth IRA
$30,300   /  $36,000      Mortgage
$950        /  $15,000      Taxable Vanguard
$3300      /  $5,000        Archaeology Dig (Grant given so shifted more to taxable)
$2700      /  $12,000      Debt

$52,493 / $100,000

52.4% on track. Kept well ahead of schedule which I am grateful for - we have some challenging few months coming up.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: PharmaStache on May 27, 2017, 07:46:53 PM
5.5k TFSA 1
5.5k TFSA 2
4k RRSP
2.5k RESP 1
5k RESP 2
19500 TFSA 1
8000 Taxable
(not bothering to include pension contributions/matches this year)
=50k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on May 31, 2017, 10:34:54 AM
May: $4,272.27

YTD: $25,846.28/50k (51.7%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on May 31, 2017, 10:59:53 AM
May update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               10,000              24,000   
   401k match                    31,425              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings               11,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 59,525            160,500         37% 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)

I'm really having a tough time getting ahead this year.  Big tax payment due, which is messing with my cash flow.  My taxable savings decreased by $10K.  Starting next month, I hope to make faster progress and catch up with my goal.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on May 31, 2017, 11:56:56 AM
May Totals:
GoalActualRemaining
401(K)18,0006,26011,740
401(K) Match7,2002,5044,696
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5003,5002,000
2016 HSA5135130
2017 HSA3,4002,0401,360
Taxable29,50014,50015,000
Total65,61330,81634,797
46.97% complete (34.49% without additional $12,500)

May ended up being a good month, income wise. First, I finally received my federal tax refund of about $4,000. $2,000 was moved towards savings and the rest went towards paying my bills due in June, so other than rent I have very little due for June. Second, my parents gave me $12,500 from the anticipated sale of their vacation home, which I moved to my taxable investment account. I wasn't sure how to account for it on my goal, since while I did save it, I didn't earn it, so it felt like cheating. I decided to just increase my taxable savings goal for the year by $12,500 and include it in the amount saved. June is a three paycheck month, so it will also be good income wise (and maybe I'll finally get my California tax refund, but I'm trying to be patient), however I also anticipate another $1,000-2,000 of expenses for a big trip in August, plus one of my two roommates might be leaving our three-bedroom, rent controlled apartment soon and I am strongly considering moving out myself instead of replacing her, so I am trying to keep extra cash around in case I move, plus obviously if I move out of an apartment shared with two other adults into my own place my expenses will increase significantly. I think it might be worth it at this point in my life however to finally have a space to myself.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on June 01, 2017, 01:26:46 PM
May Totals:
GoalActualRemaining
401(K)18,0006,26011,740
401(K) Match7,2002,5044,696
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5003,5002,000
2016 HSA5135130
2017 HSA3,4002,0401,360
Taxable29,50014,50015,000
Total65,61330,81634,797
46.97% complete (34.49% without additional $12,500)

May ended up being a good month, income wise. First, I finally received my federal tax refund of about $4,000. $2,000 was moved towards savings and the rest went towards paying my bills due in June, so other than rent I have very little due for June. Second, my parents gave me $12,500 from the anticipated sale of their vacation home, which I moved to my taxable investment account. I wasn't sure how to account for it on my goal, since while I did save it, I didn't earn it, so it felt like cheating. I decided to just increase my taxable savings goal for the year by $12,500 and include it in the amount saved. June is a three paycheck month, so it will also be good income wise (and maybe I'll finally get my California tax refund, but I'm trying to be patient), however I also anticipate another $1,000-2,000 of expenses for a big trip in August, plus one of my two roommates might be leaving our three-bedroom, rent controlled apartment soon and I am strongly considering moving out myself instead of replacing her, so I am trying to keep extra cash around in case I move, plus obviously if I move out of an apartment shared with two other adults into my own place my expenses will increase significantly. I think it might be worth it at this point in my life however to finally have a space to myself.

its not cheating youre saving it.  my parents give me 10k a year to transfer wealth ... i could blow it on a couple of these
https://thewhiskeywash.com/whiskey-styles/american-whiskey/michters-celebration-sour-mash-2016-whiskey-drops-5000-bottle/

or i could just buy VTSAX.  so i can buy 50 of those in 20 years.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RetirementDreaming on June 01, 2017, 05:37:27 PM
End of May 46.7% of goal.  No more bonuses so it comes more difficult to save and 2 vacations coming up this summer.  Husband plans to retire next year so we really need to stay focused on the goal. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on June 09, 2017, 11:16:19 PM
MAY
              MAY         YTD        GOAL
Fed TSP:   $1,515.22    $7,536.58   $18,000 
Trad IRA:    $459.36    $2,294.20    $5,500
After Tax: $3,777.33   $18,096.63   $26,500
Total:     $5,751.91   $27,927.41   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on June 20, 2017, 04:09:34 PM
January 2017 - $17.3k
February 2017 - $22.6k
March 2017 - $39.4k
April 2017 - $43.8k

May 2017

401k + matching: $8,050 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $6,635 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $2,437 / $5,962
Mortgage principal: $4,153 / $10,058
Brokerage: $11,000 / $33,616

TOTAL: $46.7k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on June 23, 2017, 08:06:40 PM
June numbers...


HSA:                   $2875 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $4105 / $6885
Roth IRA:              $4672 / $5500
401K Pre Tax:           $930 / $18000
Wife Traditional IRA:  $4672 / $5500
Mortgage principle:    $4176 / $8446
=====================================
Total:                $51099 / $78091 (59%)

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on June 24, 2017, 07:46:59 AM
May/June Update:
Bucket         Current / Goal
401k          $ 11,272 / $ 18,000
401k Match     $ 2,506 / $ 5,000
Roth IRA       $ 3,550 / $ 5,500
HSA            $ 1,700 / $ 3,400
Brokerage      $ 5,736 / $ 20,000
------------------------------------
Total         $ 24,764 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%


Half way through the year and slightly less than half way to goal, though income tends to be higher later in the year so I think I should still comfortably save at least $50k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on June 27, 2017, 09:59:31 AM
June numbers in, we are getting reimbursed for childcare flex spending now:

So far, we are:

Jan: $3913.79
Feb: $6682.73
March: $13292.82
April: $5136.54
May: $5736.67
June: $9056.87
Total YTD: $43,822.61, or 43.8% towards the $100k target, broken out as follows:

YTD 401k contributions: $20,632.56
YTD 401k matching: $9,206.95
YTD repayments on 401k loans: $6,468.15
YTD HSA: $2,550.03
YTD cash savings: $4,964.92

savings rate for June was 49.98%, up from 37% in May, but that included the first several months' worth of childcare flex spending (we waited until we hit the 5k spent to submit our reimbursement so we only have to do it once).

With ongoing maxed 401k's and the flex spending reimbursements, I think we can still make the 100k goal. It is a bit of a stretch, but it still looks possible to me.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dogboyslim on June 28, 2017, 07:29:03 AM
Update through mid-year.

Source               Goal        YTD    Remaining
-------------------------------------------------
401(K)             18,000      9,921        8,079
Match              24,000     19,006        4,994
Taxable            60,400     45,400       15,000
Debt Reduction      7,700      3,871        3,829
-------------------------------------------------
Total             110,100     78,198       31,902

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on June 29, 2017, 09:30:56 AM

June update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               12,000              24,000   
   401k match                    31,935              30,000   
   Roth IRA                          6,500              6,500   
   Taxable Savings               11,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 62,035            160,500         39% 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%

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on June 29, 2017, 10:40:11 AM
June Totals:
GoalActualRemaining
401(K)18,0009,0468,954
401(K) Match7,2003,6183,582
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,000500
2016 HSA5135130
2017 HSA3,4003,060340
Taxable29,50015,50014,000
Total65,61338,23727,376
58.28% complete (48.46% without additional $12,500)

June was pretty much as expected savings-wise, except still no sign of my California tax refund, so a little less in the taxable savings. (Perhaps that was expected? This state is such a mess.) I also added another $2,000 to my short term savings for my upcoming trip/possible move, although since my roommate has made no new mention of moving out, plus my boyfriend and I broke up, I think there's a good chance I'll stay put for the foreseeable future. Can't wait to max out my Roth IRA and HSA next month!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on June 30, 2017, 09:21:53 AM
June: $4,899.14 saved.

YTD: $30,745.42/50k (61.5%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on July 01, 2017, 04:32:44 AM
Here's the Q2 update

                         (through 6/30 paycheck)
GOALS                       ACTUAL (thru Q2)
Pension savings $12K   6660 56%
457 savings $24K       13000 54%
403b savings $12K       9000 75% (got a promotion/raise, going here)
IRA savings $6.5K        6500 100% (I forgot I had already contributed to my 2016 account, so I had everything saved for 2017)
After tax savings $4K   7273 182% (rest of promotion/raise going here)
TOTAL $58.5K ($8K higher goal than 2016)  42,433 72% in Q2
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on July 01, 2017, 08:35:00 AM
(I forgot I had already contributed ...
Mustachian people problem, for sure!  That's the great thing about this system, when you're not worried about where the next floogedlyboss is coming from, you can save without thinking about every penny. Woo hoo!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on July 01, 2017, 10:51:20 AM
June numbers

12975   18000   401k    
1400   1400   401k match   
2000   5500   Roth IRA   
0           6500   DH Roth IRA   
36000   36000   Mortgage   
1450   15800   Taxable Vanguard   
4800   4800   Archaeology Dig    
3200   12000   Debt   
61825   100000   61.8%

So I had the opposite problem - I was counting my 2016 shortage on my IRA + payment on 2017 - corrected. House is done - yahoo and archaeology dig is over so those of the final numbers. I am nowhere near fire but I am currently consumed with quitting. Next concentration will be IRA's and debt. It will be a bad month though as 3/4 family members are on vacation.      
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on July 01, 2017, 03:55:04 PM
SAFAmBrit
4800   4800   Archaeology Dig    
I don't know how I missed this Archeology Dig category.  Do you have more details on this somewhere shared publicly?  I'm intriqued.  Always been interested in Archeology but it is not where near anything I do professionally and I've never participated in a dig before.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on July 01, 2017, 03:56:55 PM
Okay - June Updates Ready:

JUNE UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $8,918 / $18,000 (50%)
401k Match Mrs: $0 / $2,400 (0%) - won't change until July :-(
401k Mr: $11,013 / $18,000 (61%)
401k Match Mr: $7,486 / $5,500 (136%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $3,364/ $5,230 (64% - includes employer $ of $1,500)
HSA Mr: $1,260 / $1,520 (83% - includes employer $ of $1,000)
Taxable Investments:  $23,683 / $14,300 (166%)
Other Savings: $4,800 / $10,800 (44%) - no change
College 529: $2,496 / $4,990 (50%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $20,920 / $27,668 (76%)
TOTAL: $86,686/ $122,408 (71% of original goal)

I didnít think we would go lower than May, but we did in June. Things should go up a bit in July due to some quarterly savings we will do and also an incoming bonus. I also think this is our lowest projected month overall this year.  Still at 71% of our projected total, we are very happy.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on July 01, 2017, 05:51:40 PM
SAFAmBrit
4800   4800   Archaeology Dig    
I don't know how I missed this Archaeology Dig category.  Do you have more details on this somewhere shared publicly?  I'm intriqued.  Always been interested in Archaeology but it is not where near anything I do professionally and I've never participated in a dig before.
This was an expense rather than income (we saved it to pay it). My daughter is doing a double major in earth science and anthropology so for her 21st we offered to send her on a dig - this one was in Orvieto in Italy (Cost was all in except flights which GP's paid) however she is also digging up a mammoth in the Mojave desert. You will be surprised how many are around. Contact you local college and ask.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on July 01, 2017, 08:15:36 PM
SAFAmBrit
4800   4800   Archaeology Dig    
I don't know how I missed this Archaeology Dig category.  Do you have more details on this somewhere shared publicly?  I'm intriqued.  Always been interested in Archaeology but it is not where near anything I do professionally and I've never participated in a dig before.
This was an expense rather than income (we saved it to pay it). My daughter is doing a double major in earth science and anthropology so for her 21st we offered to send her on a dig - this one was in Orvieto in Italy (Cost was all in except flights which GP's paid) however she is also digging up a mammoth in the Mojave desert. You will be surprised how many are around. Contact you local college and ask.
Thanks for the reply that is very cool and supportive of you.  I don't have time to devote to it right now, but it's one of the things I'd like to possibly get into in my early retirement years!

A college not far from where I live is actually doing a dig on an ancestrial home site where an earlier settler of my state lived in the 1700s. I mean, my personal family lineage. I did contact them, but they will only let current students participate. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on July 02, 2017, 06:30:44 PM
JUNE
              MAY         YTD        GOAL
Fed TSP:   $1,515.22    $9,051.80   $18,000 
Trad IRA:    $459.36    $2,753.56    $5,500
After Tax: $3,202.30   $21,298.93   $26,500
Total:     $5,176.88   $33,104.29   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)


Keep on truckin.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RetirementDreaming on July 04, 2017, 10:04:03 AM
End of June 47.6% of goal.  Tracking behind but I think we can still reach it.  June was a spendy month for us.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on July 07, 2017, 04:41:15 PM
January 2017 - $17.3k
February 2017 - $22.6k
March 2017 - $39.4k
April 2017 - $43.8k
May 2017 - $46.7k

June 2017

401k + matching: $9,660 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $8,110 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $2,928 / $5,962
Mortgage principal: $4,990 / $10,058
Brokerage: $29,000 / $33,616

TOTAL: $69.1k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on July 09, 2017, 07:05:24 PM
I got myself a work paid for transfer so with selling my current residence + buying something at the new city it throws my goal kind of out the window.  I'm making about 38% above what I paid for my house 4.5 years ago and some of that is getting moved straight away over into Vanguard.  I haven't decided on a place to move yet or a price range but I'm likely to have a change in cash flow but who knows.  I will still be at least 45,000 assuming nothing but contributions to my TSP but I doubt I'll stop at that.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Skills Barterer on July 12, 2017, 09:19:46 AM
There are a lot of awesome inspiring stories in this thread!  I have spent the better part of the morning at the drawing board to see if wife and I can accomplish this... more to come need to find about 10k more
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on July 12, 2017, 10:24:10 AM
There are a lot of awesome inspiring stories in this thread!  I have spent the better part of the morning at the drawing board to see if wife and I can accomplish this... more to come need to find about 10k more

sell tradelines
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Luckyvik on July 12, 2017, 01:59:40 PM
Mmm lets see:

Super 1: 25k
Super 2: 25k
Principal payments: 12k
Mortgage offset acc: 38k

= 100k

The mortgage offset of 38k is a stretch goal for us but at $3,167/month it's feasible, we just need to save most of my pay, which is something we wanted to do anyway.


Sent from my iPhone using Tapatalk
Jan-June 2017
26500 Super
10800 Principal payments
5000 Mortgage offset acc
= 42300
So, 42.3% of goal

Super payments are are on track, principal payments are ahead due to increasing our repayments, mortgage offset account savings are behind, I didn't take into account that most of our annual bills are in the first half of the year including $3300 health insurance and $1000 car registration and renewal costs. I am more closely monitoring the budget from now on.


Sent from my iPhone using Tapatalk
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Dictator_Mars on July 20, 2017, 07:23:27 AM
My goals at the beginning of the year:

401K                         18000
401K catch up           6000
401K match/profit   2000
HSA                           3400
HSA match                     550
Roth IRA                   5500
Roth IRA catch up   1000
52 week challenge   1378
   
Total Saved:         37828

But I need to get rid of things and build up the emergency fund as well.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on July 20, 2017, 08:03:54 PM
July Update:
Bucket         Current / Goal
401k          $ 12,353 / $ 18,000
401k Match     $ 2,938 / $ 5,000
Roth IRA       $ 4,650 / $ 5,500
HSA            $ 1,983 / $ 3,400
Brokerage      $ 7,012 / $ 20,000
------------------------------------
Total         $ 28,937 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on July 21, 2017, 07:49:52 AM
July numbers...


HSA:                   $3354 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $4346 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:          $2223 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $4881 / $8446
=====================================
Total:                $55473 / $78091 (71%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on July 27, 2017, 10:15:58 AM
July Totals:
GoalActualRemaining
401(K)18,00010,4427,558
401(K) Match7,2004,1773,023
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable29,50017,50012,000
Total65,61343,03222,581
65.58% complete (57.48% without additional $12,500)

Lots of good this month. I maxed out both my Roth IRA and my HSA for the year! I finally got my California tax refund (4 months after filing my return). It came with an extra $10.11, so at least I got a little interest on it. Other than my 401(K), the only thing I have left to save is $12,000 in my taxable account. I have 11 paychecks left this year, so if I can save $1,000 from each one plus find another $1,000 from the rest combined, I should hit that goal. My roommate decided to stay, so I don't have to worry about replacing her or moving out on my own. The bad this month mainly came from my upcoming trip. I estimated a few months ago that I had $1,000-2,000 left to spend on it, and I'm already up to about $2,700, and I haven't even gone on the trip yet. I have the cash to pay for it, but it's a little sad to spend it all when I was hoping to be able to move it into my savings. The trip is next month though, so the rest of the year hopefully won't have any big expenses.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on July 27, 2017, 10:51:19 AM
July numbers

15616  18000   401k
1400      1400   401k match
2000    5500    Roth IRA
3000       6500   DH Roth IRA
3600    36000    Mortgage
1450      15800   Taxable Vanguard
4800      4800      Archaeology Dig
3600     12000   Debt
67866   100000   
      
      
67.866% towards target - had a good uneventful month.      
   
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on July 27, 2017, 11:51:12 AM
July numbers are totaled. Not as much saved this month because our very painful car insurance (three cars including 16 year old male driver) hit this month. Ouch.

So far, we are:

Jan: $3913.79
Feb: $6682.73
March: $13292.82
April: $5136.54
May: $5736.67
June: $9056.87
July: $6822.09
Total YTD: $50,644.70, or 50.6% towards the $100k target, broken out as follows:

YTD 401k contributions: $24,234.52
YTD 401k matching: $9,838.09
YTD repayments on 401k loans: $8,283.25
YTD HSA: $2,934.65
YTD cash savings: $5,354.19

savings rate for June was 43%

August is a 3 paycheck month, so since we budget based on 2 checks, that will mean a lot of extra going to savings (in this case, extra payments on the 401K loan, in addition to the regular pre-tax savings).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on July 29, 2017, 07:18:02 AM
JULY UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $10,306 / $18,000 (57%)
401k Match Mrs: $3,259 / $2,400 (136%) - finally got employer match for the 1st half of the year.**
401k Mr: $12,196 / $18,000 (68%)
401k Match Mr: $7,881 / $5,500 (143%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $3,652 / $5,230 (70% - includes employer $ of $1,500)
HSA Mr: $1,300 / $1,520 (86% - includes employer $ of $1,000)
Taxable Investments:  $37,183 / $14,300 (260%)*
Other Savings: $7,200 / $10,800 (67%)
College 529: $2,912 / $4,990 (58%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $22,482 / $27,668 (81%)
TOTAL: $101,115/ $122,408 (83% of original goal)

Look at that - over the $100k mark.  Awesome!

*I got the 2nd half of my annual bonus in July which is why we were able to kick another $10,000 into investments this month.
**Finally got employer 401k match for the 1st six month. This is all I will be receiving until January, 2018.

Although no more bonus money is coming this year, we do have extra earnings due to hitting the SS annual max so we will pad the investments a little more between now and the end of the year.  We are on track to exceed our stretch goal.  Double awesome!  After an extremely busy June and July with little time to think or check on financial matters, it's pretty nice to see that our plans have all played out fine and we are having an excellent year.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on July 31, 2017, 07:58:08 AM
July update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               14,000              24,000   
   401k match                     32,445              30,000   
   Roth IRA                           6,500              6,500   
   Taxable Savings              11,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 64,545            160,500         40% 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%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on July 31, 2017, 08:13:08 AM
I am at $32,515, for a singleton.  Reaching the $50K goal will be achievable. 

What will be a bit of a stretch will be maxing out both my 403b and my 457.  (I can put $24,000 into each of those, because I am old.)  But I am pretty sure I can do it.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: 2Birds1Stone on July 31, 2017, 12:37:04 PM
Saved $40,600 myself through July 31st.

SO has probably saved closed to ~$12k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on July 31, 2017, 04:36:58 PM
JULY
              JULY         YTD        GOAL
Fed TSP:   $1,515.22   $10,567.02   $18,000 
Trad IRA:    $459.36    $3,212.92    $5,500
After Tax: $2,686.38   $23,885.30   $26,500
Total:     $4,660.96   $37,665.24   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)
Jul YTD Savings:  $37,665.24  (75% of goal)


A very blah month. I had to spend almost $1300 on professional re-qualification stuff. Irritating, but such is life.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on August 01, 2017, 12:30:04 AM
July: $3,898.83 saved.

YTD: $34,644.25/50k (69.3%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on August 14, 2017, 09:36:33 AM
January 2017 - $17.3k
February 2017 - $22.6k
March 2017 - $39.4k
April 2017 - $43.8k
May 2017 - $46.7k
June 2017 - $69.1k

July 2017

401k + matching: $12,101 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $9,584 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $3,419 / $5,962
Mortgage principal: $5,829 / $10,058
Brokerage: $29,000 / $33,616

TOTAL: $74.3k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on August 22, 2017, 01:49:52 PM
August numbers...


HSA:                   $3833 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $5098 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:          $5429 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $5588 / $8446
=====================================
Total:                $60617 / $78091 (77%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on August 22, 2017, 05:23:10 PM
Sadly, I have blown mine in April.  Combination of a honeymoon, costs associated with an upcoming kid, and booking in a bucket list trip for before the kid arrives.  Sadly I'm out for this one from here on in.

Ok, I'm crawling back on the bandwagon.  A lot of changes - now married, took a bucket list trip to dive the Galapagos and Mexico for a month while I can (expecting it to be a bit harder for long dive trips post kid).  I have also handed in notice a bit later, finishing up on  the 7th of October.

I've saved  $88k year to date (to the end of August).  I'd like to get this to $110k by my last day at work (7 Oct).  September and October are big dividend months, and there should be a small amount of vacation time paid out at the end.

Jan $24763
Feb $5079
Mar $18870
Apr $2328
May $4325
Jun $3499
Jul $14404
Aug $14616
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on August 26, 2017, 07:20:56 AM
AUGUST UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $11,693 / $18,000 (65%)
401k Match Mrs: $3,259 / $2,400 (136%)
401k Mr: $13,379 / $18,000 (74%)
401k Match Mr: $8,275 / $5,500 (150%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $3,935 / $5,230 (75% - includes employer $ of $1,500)
HSA Mr: $1,340 / $1,520 (88% - includes employer $ of $1,000)
Taxable Investments:  $39,183 / $14,300 (274%)
Other Savings: $7,200 / $10,800 (67%)
College 529: $3,328 / $4,990 (67%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $26,544 / $27,668 (96%)
TOTAL: $110,885/ $122,408 (91% of original goal)

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on August 27, 2017, 09:21:26 PM
August Update:
Bucket         Current / Goal
401k          $ 13,435 / $ 18,000
401k Match     $ 3,371 / $ 5,000
Roth IRA       $ 5,000 / $ 5,500
HSA            $ 2,267 / $ 3,400
Brokerage      $ 8,566 / $ 20,000
------------------------------------
Total         $ 32,638 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
August        $ 32,638   65.3%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on August 28, 2017, 06:08:03 AM
PC actually tracks this perfectly for me so i dont have to go thru every account and find what i've invested and sum it up so Aug month end.

Total = 60k    /    100.5K  60%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on August 29, 2017, 11:24:29 PM
August: $4,117.66 saved.

YTD: $38,761.91/50k (77.5%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dogboyslim on August 31, 2017, 09:09:40 AM
Through June I was at 71% of the way there.  Now I'm 81.9%.  Progress of 5.45% each month.  That pace should get me 3% over goal.  I am currently looking for some wood to knock...

August update:

Source               Goal        YTD    Remaining
-------------------------------------------------
401(K)             18,000     13,346        4,654
Match              24,000     20,913        3,087
Taxable            60,400     50,760        9,640
Debt Reduction      7,700      5,170        2,530
-------------------------------------------------
Total             110,100     90,189       19,911
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on August 31, 2017, 09:43:24 AM
August was a 3 paycheck month, so I've had to wait until today to tally up the numbers (although I could have projected today's of course).

So far, we are:

Jan: $3913.79
Feb: $6682.73
March: $13292.82
April: $5136.54
May: $5736.67
June: $9056.87
July: $6822.09
August: $12,498.75
Total YTD: $63,143.45 or 63% towards the $100k target, broken out as follows:

YTD 401k contributions: $29,637.46
YTD 401k matching: $10,784.80
YTD repayments on 401k loans: $13,455.90
YTD HSA: $3,328.57
YTD cash savings: $5,936.72

savings rate for August was 52.8%, YTD is 42.8%

We're only 3% behind for the year now, so hopefully we can actually make it.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright on August 31, 2017, 10:02:36 AM
Long time since I last updated:

401k Starbright                         8,942 /  14,400                         
Starbright company match              0  /  1,000
401a w/ match DH                   8,640  /  12,960
457 DH                                   2,800   /  4,200
Roths                                      1,600  /  11,000
HSA                                        2,000  /   3,000
Extra Mortgage Principal           3,200  /   4,800
Taxable/Moneymarket               2,240  /   8,640

$29,422/ $60,000  (approx 50%)

Since 60k was a huge stretch for us I'm feeling pretty good about this. DH and I also recently got raises and his goes into effect on his September paycheck so our 401k and 401a should come in slightly higher than anticipated for the year.

Our savings goal for 2016 was 35k and last year's thread inspired us to hit 47k. Even if we can't get to 60k this year I think we can definitely hit 50!

Thanks everyone for the continuing inspiration.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on August 31, 2017, 10:02:55 AM
August update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               16,000              24,000   
   401k match                     32,955              30,000   
   Roth IRA                           6,500              6,500   
   Taxable Savings              31,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 87,055            160,500         54% 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%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on August 31, 2017, 10:50:10 AM
August Totals:
GoalActualRemaining
401(K)18,00011,7456,255
401(K) Match7,2004,6982,502
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable29,50019,50010,000
Total65,61346,85618,757
71.41% complete (64.68% without additional $12,500)

Finally went on my big trip in August! I've been paying for it throughout the year and it ended up costing nearly $8,000 (although about $1,800 of that was gear for the trip which I am mostly happy to have and about $550 should be reimbursable by my HSA for vaccines, physicals, and prescriptions). Ouch. But it was a bucket list trip (Kilimanjaro) and much more than I normally spend on vacations, and it's just really great to know that I can do things like that and still save money. The only unexpected thing this month was that I was told that I could go negative on my PTO at work, and apparently by that they really meant I could take unpaid time. So I had 10 hours that I wasn't paid for this month (not included in my $8,000 cost above), which meant I had a smaller paycheck and missed out on some matching on my 401(K). My 401(K) will still max out on my last paycheck of the year though, so at least I don't have to change my withholdings.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on August 31, 2017, 09:31:53 PM
AUGUST
              AUG         YTD        GOAL
Fed TSP:   $1,515.22   $12,082.24   $18,000 
Trad IRA:    $459.36    $3,672.28    $5,500
After Tax: $2,686.38   $26,835.30   $26,500
Total:     $4,924.58   $42,589.82   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)
Jul YTD Savings:  $37,665.24  (75% of goal)
Aug YTD Savings:  $42,589.82  (85% of goal)


I feel like I spent a lot in August, but also managed to save a fair amount. I hit my after tax goal, which is a nice feeling indeed.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on September 01, 2017, 11:49:56 PM
August numbers

18000   18000   401k
  1400     1400   401k match
  3000     5500   Roth IRA
  3500     6500   DH Roth IRA
  3600    36000    Mortgage
  1950    15800   Taxable Vanguard
  4800      4800  Archaeology Dig
  8000    12000   Debt
76650   100000   
      
76 % towards target - happy to be ahead of the game right now. My pool pump gave up - so will need to purchase a new one unfortunately!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on September 02, 2017, 08:05:50 AM
January 2017 - $17.3k
February 2017 - $22.6k
March 2017 - $39.4k
April 2017 - $43.8k
May 2017 - $46.7k
June 2017 - $69.1k
July 2017 - $74.3k

August 2017

401k + matching: $14,596 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $10,322 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $3,912 / $5,962
Mortgage principal: $6,670 / $10,058
Brokerage: $29,000 / $33,616

TOTAL: $78.9k / $100k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on September 03, 2017, 05:22:04 AM
I feel like I've cheated due to my work transfer I've hit my goal for the year basically.

TSP:                                                12474/18,000
TSP match:                                      4431.36/7050*
HSA:                                               3350/3350
IRA:                                                5,500/5,500
Brokerage orig goal:                         21200/41000 
Profit invested from sale of house:** 80,000/0
Mortgage Principle                            0/0
                                                       ___________
                                                       126,955/75,000

*Match will not reach goal as I took a slight pay cut in August so match will drop about $300 for the year.
**  As part of my move I downsized in price of my house.  The 80,000 is the estimated difference.  I did go from owning free and clear to having a mortgage so my base monthly after-tax contributions will be smaller now and I will add in mortgage principle. 
***I also invested the mortgage amount but I am not counting that as saving as it was just more of a money transfer. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on September 23, 2017, 06:31:43 AM
SEPTEMBER UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $13,774 / $18,000 (77%)
401k Match Mrs: $3,259 / $2,400 (136%) - no change, will not get more $ until January '18
401k Mr: $15,153 / $18,000 (84%)
401k Match Mr: $8,866 / $5,500 (161%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $4,369 / $5,230 (84% - includes employer $ of $1,500)
HSA Mr: $1,400 / $1,520 (92% - includes employer $ of $1,000)
Taxable Investments:  $42,383 / $14,300 (296%)
Other Savings: $7,200 / $10,800 (67%)
College 529: $3,744 / $4,990 (75%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $28,406 / $27,668 (103%)
TOTAL: $131,299 / $122,408 (107% of original goal)

Three months to go! Our Stretch Goal of $160k is in sight!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: badscooter on September 23, 2017, 10:24:56 AM
Couple challenge here. The totals so far (contributions only):

401k - 24k
401k match - 40k
Roth - 0 🙁
529 - 22.8k
Taxable - 20k

Total: 106.8k (84k not counting 529).

Will do our Roth at the end of the year with the bonus, so we should hit the 100k mark. Feels good to save!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: PharmaStache on September 24, 2017, 10:44:22 AM
50k

5.5k TFSA 1
5.5k TFSA 2
3k RRSP
2.5k RESP 1
5k RESP 2 (2.5k done)
19500 TFSA 1
9000 Taxable (1k done)
(not including pension contributions/matches this year)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on September 24, 2017, 04:16:40 PM
This thread is such an inspiration!  So many people not only meeting their goals, but blowing them out of the water!  Also good to see people hitting other goals at the same time, like Ritz's Kilimanjaro trip.  I did similar with a Galapagos  diving trip, and still managed to save.

As of September sitting on $107k saved.  I have 8 work days left, and $3k to save in October to hit my $110k goal. 

Jan $24763
Feb $5079
Mar $18870
Apr $2328
May $4325
Jun $3499
Jul $14404
Aug $14616
Sep $20045
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on September 25, 2017, 10:23:51 PM
September numbers...


HSA:                   $4313 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $5594 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:          $8635 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $6299 / $8446
=====================================
Total:                $65510 / $78091 (84%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on September 25, 2017, 11:36:54 PM
Sept: $4,042.79 saved

YTD: $42,804.70/50k (85.6%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: akzidenz on September 27, 2017, 04:57:25 PM
I'm so close! I got a 20% raise that kicked in this month, and I filled out my 401(k)Öwhich means I'll have a bit more take-home income to add to my taxable investments. I've started lurking around these forums again to motivate myself to be frugal and actually hit the $50k mark.

Here's a breakdown of my goal by different categories:

GoalSo farPercentage
401(k)$18,000$18,000100%
Roth IRA$5,500$5,500100%
Taxable$21,500$15,60072.6%

From March 1: (just after a nice company bonus, which is how I managed to fill out my Roth IRA so quickly)

GoalSo farPercentage
401(k)$18,000$6,90038.3%
Roth IRA$5,500$5,500100%
Taxable$21,500*$4,00018.6%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on September 27, 2017, 05:54:13 PM
September Totals:
GoalActualRemaining
401(K)18,00013,1414,859
401(K) Match7,2005,2561,944
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable29,50021,5008,000
Total65,61350,81014,803
77.44% complete (72.13% without additional $12,500)

Not much interesting to report for September, although I did hit the thread's goal amount of $50,000 (going for a little more for myself). Still on track and nothing crazy came up. The most notable thing is that I've been spending a lot of money eating out for lunch at work because I keep getting invited to eat with other people. At my last job I ate at my desk alone several days a week, so I almost always say yes when I'm invited, even though I always have a lunch in the office fridge. It's so nice to have friends to eat with at work though! Sometimes they bring lunch and we can all eat together in the common area, but they've been slacking off on bringing food, so we keep going out. Perhaps I should encourage them to start being better about bringing food.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on September 28, 2017, 11:32:29 AM
September update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               18,000              24,000   
   401k match                     33,465              30,000   
   Roth IRA                           6,500              6,500   
   Taxable Savings              31,600            100,000   
------------------------------------------------------------------------------         
   YTD                                 89,565            160,500         56% 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%

I have no idea where all of my money is going!  I'll have to dig in to take a look.  Each quarter my Estimated taxes are killing me and making it so I can't catch up/get ahead. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dogboyslim on September 28, 2017, 11:39:11 AM
I have no idea where all of my money is going!  I'll have to dig in to take a look.  Each quarter my Estimated taxes are killing me and making it so I can't catch up/get ahead <of my plan>.

IFYP!...$90k through 3 quarters is not exactly falling behind.  Granted, you are below your plan (I think) but its still 90k ahead.  ;)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on September 28, 2017, 11:49:25 AM
I have no idea where all of my money is going!  I'll have to dig in to take a look.  Each quarter my Estimated taxes are killing me and making it so I can't catch up/get ahead <of my plan>.

IFYP!...$90k through 3 quarters is not exactly falling behind.  Granted, you are below your plan (I think) but its still 90k ahead.  ;)
Thanks for the encouragement DogBoy.  I don't think I've been spending more than last year.  I think I may have to get better at planning my taxes.  I think I had a massive tax refund from 2015, so that would have set up 2016 for a really strong year.  After 2016, I owed a bit, and that got me started in the hole.  At least I hope that's all it is.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on September 28, 2017, 12:44:48 PM
Well...we snagged our flights and lodging for next April's trip, so savings was low this month:

So far, we are:

Jan: $3913.79
Feb: $6682.73
March: $13292.82
April: $5136.54
May: $5736.67
June: $9056.87
July: $6822.09
August: $12,498.75
September: $6,922.95
Total YTD: $70,066.40 or 70% towards the $100k target, broken out as follows:

YTD 401k contributions: $33,239.42
YTD 401k matching: $11,415.94
YTD repayments on 401k loans: $15,371
YTD HSA: $3,713.19
YTD cash savings: $6,326.85

savings rate for September was 43.7%, YTD is 42.9%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: TheAnonOne on September 28, 2017, 06:58:30 PM
We crossed 100k 2 months ago. Sitting at +126K currently!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RWD on September 29, 2017, 05:29:20 PM
September 2017

401k + matching: $17,091 / $21,219
HSA: $3,400 / $3,400
Mandatory retirement + matching: $11,796 / $14,745
457: $0
403b: $0
Roth IRAs: $11,000 / $11,000
Car loan principal: $4,406 / $5,962
Mortgage principal: $7,514 / $10,058
Brokerage: $47,000 / $33,616

TOTAL: $102.2k / $100k


Well, we hit the goal. I thought this was going to be a lot tighter, but we've still got a whole quarter left in the year. Though I don't intend to make any more brokerage account contibutions this year (saving for January 2018 Roth IRA max). That makes extrapolating the rest of the year easy. Assuming no employment changes or further brokerage contributions we should end 2017 at about $116k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on September 30, 2017, 10:10:46 AM
Here's the Q3 update

                         (through 9/30 paycheck)
GOALS                       ACTUAL (thru Q3)
Pension savings $12K  10640 89%
457 savings $24K        20000 83%
403b savings $12K      16000 133% (got a promotion/raise, going here)
ROTH savings $6.5K      6500 100% (I forgot I had already contributed to my 2016 account, so I had everything saved for 2017)
After tax savings $4K     9232 231% (rest of promotion/raise going here)
TOTAL $58.5K ($8K higher goal than 2016)  62,372 107% in Q3
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on October 01, 2017, 12:22:28 AM
SEPTEMBER
              SEPT         YTD        GOAL
Fed TSP:   $1,515.22   $13,597.46   $18,000 
Trad IRA:    $459.36    $4,131.64    $5,500
After Tax: $2,867.46   $29,750.31   $26,500
Total:     $4,842.04   $42,589.82   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)
Jul YTD Savings:  $37,665.24  (75% of goal)
Aug YTD Savings:  $42,589.82  (85% of goal)
Sep YTD Savings:  $47,479.41  (95% of goal)


So close!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on October 01, 2017, 03:24:39 PM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

My progress:

401a:               $10,518
403b:               $18,500
457:                $13,930
mortgage principal:  $8,788

Total:              $51,736


And another $18K+ will go into retirement accounts before the year is over.  :)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on October 02, 2017, 09:22:15 AM
September Update:
Bucket         Current / Goal
401k          $ 14,516 / $ 18,000
401k Match     $ 3,803 / $ 5,000
Roth IRA       $ 5,500 / $ 5,500 <-- Complete
HSA            $ 2,550 / $ 3,400
Brokerage     $ 23,008 / $ 20,000 <-- Complete, but with windfall - now targeting $30,000
------------------------------------
Total         $ 49,377 / $ 50,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
August        $ 32,638   65.3%
September     $ 49,377   98.8%
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on October 11, 2017, 09:57:07 AM
September numbers

18000   18000   401k
  1400     1400   401k match
  3000     5500   Roth IRA
  5500     6500   DH Roth IRA
 36000   36000    Mortgage
  2200    15800   Taxable Vanguard
  4800      4800  Archaeology Dig
 12000    12000   Debt
83400   100000   
      
83 % towards target
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Vaulter on October 11, 2017, 11:16:53 AM
You guys are inspiring! We're 95% done and hoping to put a little bit in savings as extra credit now that the student loans are finally gone.

AccountSavingsGoal
401k (A)18,00018,000
401k match/PS (A)13,50018,000
401k (B)18,00018,000
401k PS (B)8,0009,000
HSA (A+B)6,7506,750
BD Roth IRA (A+B)11,00011,000
Loan Payoff40,75040,750
TOTAL116,000121,500
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright on October 11, 2017, 12:18:34 PM

Updating through Sep 30 -

401k Starbright                        11,250/  14,400                         
Starbright company match        3,842  /  1,000
401a w/ match DH                   9,720  /  12,960
457 DH                                   3,150   /  4,200
Roths                                      2,300  /  11,000
HSA                                        2,000  /   3,000
Extra Mortgage Principal           3,600  /   4,800
Taxable/Moneymarket               2,390  /   8,640

$38,652/ $60,000  (approx 64%)

I'm super pleased with this.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Luckyvik on October 14, 2017, 06:07:52 PM
End of Sept update:

Goal: 100k

Super 38,872
Offset acc 12,020
Principal repayments 16,500

Total 67,392 ie 67.39% of goal, a bit behind target, need to catch-up.




Sent from my iPhone using Tapatalk
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrThatsDifferent on October 15, 2017, 01:22:42 AM
Achieved single goal in Aug, now aiming for couple goal by myself, partner doesnít want to play so not including SO in this.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on October 16, 2017, 11:27:54 AM
October update:  2017 Progress against Goal
 
  Year to date progress:       Saved          Goal
   401k                               18,000              24,000   
   401k match                     33,975              30,000   
   Roth IRA                           6,500              6,500   
   Taxable Savings              51,600            100,000   
------------------------------------------------------------------------------         
   YTD                                112,075            160,500         70% 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%

This is going to be tough.  I may be able to really tighten the belt to squeeze into the goal.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on October 19, 2017, 03:28:09 PM
October Update:
Bucket         Current / Goal
401k          $ 15,597 / $ 18,000
401k Match     $ 4,236 / $ 5,000
Roth IRA       $ 5,500 / $ 5,500 <-- Complete
HSA            $ 2,833 / $ 3,400
Brokerage     $ 24,629 / $ 20,000 <-- Complete, but with windfall - now targeting $30,000
------------------------------------
Total         $ 52,795 / $ 50,000 <-- Complete, but with windfall - now targeting $60,000

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
August        $ 32,638   65.3%
September     $ 49,377   98.8%
October       $ 52,795   105.6%  (88.0% to new target)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on October 20, 2017, 08:10:44 AM
October numbers...


HSA:                   $4792 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $6091 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:         $11840 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $7012 / $8446
=====================================
Total:                $70403 / $78091 (90%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on October 20, 2017, 11:47:18 AM
October Totals:
GoalActualRemaining
401(K)18,00014,5373,463
401(K) Match7,2005,8151,385
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable29,50024,5005,000
Total65,61355,7659,848
84.99% complete (81.46% without additional $12,500)

Just $5,000 and my 401(K) contributions left!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dreadmoose on October 20, 2017, 02:54:31 PM
I'm jumping in to this really late (took me long enough to find this thread).

This has been a goal of mine all year, but hasn't been formally written down in order to keep me pushing at it... and I will need to push this last couple months through overtime and targeted savings.

So far:

Jan-17      $200
Feb-17      $1,700
Mar-17      $5,650
Apr-17      $9,576
May-17     $18,365
Jun-17      $30,847
Jul-17       $42,619
Aug-17     $52,436
Sep-17     $60,290
Oct-17      $68,144

Remaining [31,856]

This breaks down to:

TFSA           $18,885
RRSP          $49,259
Taxable       $0.00
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on October 29, 2017, 05:33:51 AM
OCTOBER UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $15,161 / $18,000 (84%)
401k Match Mrs: $3,259 / $2,400 (136%) - no change, will not get more $ until January '18
401k Mr: $16,336 / $18,000 (91%)
401k Match Mr: $9,261 / $5,500 (168%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $4,655 / $5,230 (89% - includes employer $ of $1,500)
HSA Mr: $1,440 / $1,520 (95% - includes employer $ of $1,000)
Taxable Investments:  $47,583 / $14,300 (333%)
Other Savings: $9,600 / $10,800 (89%)
College 529: $4,160 / $4,990 (83%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $30,468 / $27,668 (110%)
TOTAL: $144,668 / $122,408 (118% of original goal)

Two months to go! I'm projecting that we will hit our stretch goal of $160k
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: bigchrisb on October 29, 2017, 01:38:07 PM
I'd like to get this to $110k by my last day at work (7 Oct).  September and October are big dividend months, and there should be a small amount of vacation time paid out at the end.

Jan $24763
Feb $5079
Mar $18870
Apr $2328
May $4325
Jun $3499
Jul $14404
Aug $14616
Sep $19033
Oct $10103

Total for 10 months:  116k.  My original goal was to save 100% of my employment income over the 6 months of work I had left.  Circumstance dragged this out to 10 months, and I ended up saving $116k out of 113.5k post tax dollars earned.  Goal achieved, despite some worries along the way.  I've now pulled the pin and left work - hopefully I can keep my spending below my investment earnings.  At this stage I'm  reasonably confident!

Good luck to all the other thread participants!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on October 30, 2017, 06:16:37 AM
Month end Aug
Total = 60k    /    100.5K  60%

Month End October
total = 75,000 / 100.5k = 75%

I expect we'll beat it this year probably end up around 105-110k if i had to guess. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on October 30, 2017, 11:51:43 PM
Oct: $3,315.67 saved.

YTD: $46,120.37/50k (92.2%)

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on October 31, 2017, 12:07:14 PM
OCTOBER
              OCT         YTD        GOAL
Fed TSP:   $1,515.22   $15,112.68   $18,000 
Trad IRA:    $459.36    $4,591.00    $5,500
After Tax: $2,409.11   $32,159.42   $26,500
Total:     $4,383.69   $42,589.82   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)
Jul YTD Savings:  $37,665.24  (75% of goal)
Aug YTD Savings:  $42,589.82  (85% of goal)
Sep YTD Savings:  $47,479.41  (95% of goal)
Oct YTD Savings:  $51,863.10  (103% of goal)


GOAL!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on October 31, 2017, 04:39:26 PM
I am not sure that we're going to make the 100k goal this year; we paid for some travel the past two months and it cut into our savings rate. Current total saved is $75,488.90 for the year, savings rate of 42%.

Definitely going to have to work on our overall spending next year to free up some extra money to save since we're going to have access to a mega backdoor roth finally...
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on October 31, 2017, 10:57:45 PM
October numbers

18000   18000   401k
  1400     1400   401k match
  5500     5500   Roth IRA
  6500     6500   DH Roth IRA
 36000   36000    Mortgage
  5700    15800   Taxable Vanguard
  4800      4800  Archaeology Dig
 12000    12000   Debt
89900   100000   
      
89.9 % towards target
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: 2Birds1Stone on November 01, 2017, 08:11:19 AM
This is going to be a huge stretch goal of ours this year! But we are in :)

Retirement Contributions
$18,000 his 401k $18k
$7,000 her 401k $12k
$5,500 his Roth IRA $5.5k
$5,500 her Roth IRA $5.5k
$6,750 HSA $6.75k

$42,750 Total $47,750

Non Retirement Contributions
$24,000 his Taxable
$12,000 his EF $40k
$12,000 her EF
$6,000 her Taxable
$3,250 Combined Joint Travel Fund

$57,750 Total $40,000

$100,000 Grand Total $87,750

Going to miss the mark on savings $100k, but our net worth will go up more than $100k with the addition of investment gains.

We will end the year saving (in bold).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on November 01, 2017, 08:21:51 AM
I am so impressed by the amounts that people are able to save -- especially the younger people.  Good job everyone!

I often think "if only I had known when I was that age", but I realize I'm extremely lucky to have found the way before it is too late and also that I've found it during the time of my highest income...so I can "catch up" to where I would have been ...if only.  :) 

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on November 01, 2017, 08:44:23 AM
I am so impressed by the amounts that people are able to save -- especially the younger people.  Good job everyone!

I often think "if only I had known when I was that age", but I realize I'm extremely lucky to have found the way before it is too late and also that I've found it during the time of my highest income...so I can "catch up" to where I would have been ...if only.  :)

i dont think there is an age people dont say i wish i'd known sooner.  the college kid - man if i'd worked in school.  the HS kid man if i had saved more of my tips.  the middle school kid - why'd i blow all my lemonade stand/mowing money on candy. etc.

obviously the younger you get there the better off you'll be. but i dont regret not knowing til post college as i think i'd have had less fun. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse on November 01, 2017, 09:15:50 AM
I am so impressed by the amounts that people are able to save -- especially the younger people.  Good job everyone!

I often think "if only I had known when I was that age", but I realize I'm extremely lucky to have found the way before it is too late and also that I've found it during the time of my highest income...so I can "catch up" to where I would have been ...if only.  :)

i dont think there is an age people dont say i wish i'd known sooner.  the college kid - man if i'd worked in school.  the HS kid man if i had saved more of my tips.  the middle school kid - why'd i blow all my lemonade stand/mowing money on candy. etc.

obviously the younger you get there the better off you'll be. but i dont regret not knowing til post college as i think i'd have had less fun.
I suppose, but I don't think lemonade stand money would really make a difference no matter how young you start (unless it's people giving you money for your effort rather than tied to real economy.  In which case, I can see your point).  I guess to me, the real changes become obvious when there really is a percentage of your expenses that you can save.  And that didn't happen to me with my lemonade stand, or my rock sale, or my worm collections.  It really only would have made a difference for me once I was working full time and able to save money.  Every penny I earned before that went to my family to defray the cost of raising me and to my schooling.  There was no extra to stash back then (for me.  YMMV) 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rhoon on November 01, 2017, 08:50:04 PM
Reached the Single Goal last month.

Current Savings: $58,897, this is just 401K, company match and taxable account. I'll probably be able to add another $20K to this, but doubt I'll be able to get to the couple target.

SI w/ kid.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright on November 07, 2017, 08:45:45 AM
Updating through October -

401k Starbright                       12,404/  14,400                         
Starbright company match        3,842  /  1,000
401a w/ match DH                  10,800  /  12,960
457 DH                                   3,150   /  4,200
Roths                                      2,300  /  11,000
HSA                                        2,200  /   3,000
Extra Mortgage Principal           4,000  /   4,800
Taxable/Moneymarket               5,080  /   8,640

$43,776/ $60,000  (approx 73%)

I think we might be able to hit 90% of our goal in our 2017! If I end up with a good bonus we might even hit our goal. 

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrMoogle on November 17, 2017, 12:20:05 PM
I make $84k/year now.  After seeing this thread, I went back to last year: I saved $45k last year on $80k, but I only qualified for 6 months of ESOP contributions.  So with $4k additional income and another 6 months of contributions, $50k will be possible, but a stretch.  Might as well set the bar a little high though, right?

My goal for the last few years has been $40k, so I was pleasantly surprised to see last year's result.
401k: 18k
Employer: 9k
Roth: 5.5k
Taxable: 6.5k
Emergency Account: 10k
total: 49k
6 weeks left, so I'm calling victory.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on November 21, 2017, 08:08:58 AM
November Update:
Bucket         Current / Goal
401k          $ 16,678 / $ 18,000
401k Match     $ 4,669 / $ 5,000
Roth IRA       $ 5,500 / $ 5,500 <-- Complete
HSA            $ 3,117 / $ 3,400
Brokerage     $ 30,852 / $ 20,000 <-- Complete, but with windfall - now targeting $30,000 <-- Double complete
------------------------------------
Total         $ 60,816 / $ 50,000 <-- Complete, but with windfall - now targeting $60,000  <-- Double complete, but still have some individual goals to hit

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
August        $ 32,638   65.3%
September     $ 49,377   98.8%
October       $ 52,795   105.6%  (88.0% of new target)
November      $ 60,816   121.6%  (101.4% of new target)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on November 21, 2017, 08:51:44 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

My progress:

401a:               $10,518
403b:               $18,500
457:                $13,930
mortgage principal:  $8,788

Total:              $51,736


And another $18K+ will go into retirement accounts before the year is over.  :)

Update:

401a:               $12,722
403b:               $22,900
457:                $19,690
mortgage principal:  $9,871

Total:              $65,183

Geepers.  I hope my future self will have fun spending all of that money (except the mortgage principal).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on November 21, 2017, 03:48:00 PM
November numbers...

Married; single income; 2 kids

HSA:                   $5271 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28669 / $27010
401K Employer Match:   $6587 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:         $15149 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $7728 / $8446
=====================================
Total:                $75404 / $78091 (96%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on November 25, 2017, 07:20:36 AM
NOVEMBER UPDATED TOTALS/ORIG GOALS:
401k Mrs:  $16,549 / $18,000 (92%)
401k Match Mrs: $3,259 / $2,400 (136%) - no change, will not get more $ until January '18
401k Mr: $17,518 / $18,000 (97%)
401k Match Mr: $9,654 / $5,500 (176%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $4,942 / $5,230 (94% - includes employer $ of $1,500)
HSA Mr: $1,480 / $1,520 (97% - includes employer $ of $1,000)
Taxable Investments:  $50,083 / $14,300 (350%)
Other Savings: $9,600 / $10,800 (89%)
College 529: $4,576 / $4,990 (92%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $32,530 / $27,668 (118%)
TOTAL: $152,938 / $122,408 (125% of original goal)

Had an odd experience on Thanksgiving where the conversation of several family members went to investing and savings for retirement that was in no way urged on by us. That was satisfying and we just listened with curiousity. However, everyone now seems to know that we plan to retire in about 5 years.  I guess we've dropped enough hints over the last couple years or so and noone finds that shocking any longer. My BIL already retired early in his 40's after a full career as an EMT. He now collects as much in pension pay than he did from his take-home while working. He is an excellent example that it can be done even on a fairly modest income if you participate in work-place retirement opportunities and stay invested for the long-haul. 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SpareChange on November 27, 2017, 06:21:16 PM
November: $3,436.93 saved.

YTD: $49,557.30/50k (99.1%)

Almost!!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Sailor Sam on November 30, 2017, 08:11:43 PM
NOVEMBER
              NOV         YTD        GOAL
Fed TSP:   $1,515.22   $16,627.90   $18,000 
Trad IRA:    $459.36     $5050.36    $5,500
After Tax:    $47.47   $32,206.89   $26,500
Total:     $2,022.05   $53,885.15   $50,000

Jan YTD Savings:   $5,571.87  (11% of goal) 
Feb YTD Savings:  $13,850.36  (28% of goal)
Mar YTD Savings:  $19,459.58  (39% of goal)
Apr YTD Savings:  $22,175.50  (47% of goal)
May YTD Savings:  $27,927.41  (56% of goal)
Jun YTD Savings:  $33,104.29  (66% of goal)
Jul YTD Savings:  $37,665.24  (75% of goal)
Aug YTD Savings:  $42,589.82  (85% of goal)
Sep YTD Savings:  $47,479.41  (95% of goal)
Oct YTD Savings:  $51,863.10  (103% of goal)
Nov YTD Savings:  $53,885.15  (108% of goal)


I decided to spend all my after tax dollars, instead of saving some. It was fun, but now I'm done.

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Bateaux on November 30, 2017, 08:32:20 PM
Pretty sure we've passed the 100k savings for couple, looks to be about $108,000 new money.  With market gains we're over 200k for the year Definitely should be a do over for 2018 unless I get fed up and FIRE.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on December 01, 2017, 04:35:10 AM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Update:

401a:               $13,291 (counting both the employee and employer contributions)
403b:               $24,000
457:                $21,130
mortgage principal:  $9,871

Total:              $68,292
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dreadmoose on December 01, 2017, 03:36:50 PM
Update:
Jan-17$200
Feb-17$1,700
Mar-17$5,650
Apr-17$9,576
May-17$18,365
Jun-17$30,847
Jul-17$42,619
Aug-17$52,436
Sep-17$60,290
Oct-17$68,144
Nov-17$77,961

Remaining [22,039]

This breaks down to:

TFSA$18,885
RRSP$59,076
Taxable$0.00

I'm actually on track for the solo 100K goal I set myself, final RRSP input in December will include overtime amounting to around ~25K.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit on December 02, 2017, 12:15:54 AM
November numbers

18000   18000   401k
  1400     1400   401k match
  5500     5500   Roth IRA
  6500     6500   DH Roth IRA
 36000   36000    Mortgage
 12800    15800   Taxable Vanguard
  4800      4800  Archaeology Dig
 12000    12000   Debt
89900   100000   
      
97 % towards target
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrThatsDifferent on December 02, 2017, 01:15:48 PM
So excited! My SO refuses to play along so Iím going solo on this but Iím only 5k from reaching the couple goal with just one month to go! What a great first year on MMM.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz on December 04, 2017, 12:24:12 PM
November Totals:
GoalActualRemaining
401(K)18,00016,6311,369
401(K) Match7,2006,653547
2016 Roth IRA1,5001,5000
2017 Roth IRA5,5005,5000
2016 HSA5135130
2017 HSA3,4003,4000
Taxable33,50032,5001,000
Total69,61366,6972,916
95.81% Complete

My parents gave me some more money (I think that they are giving me money because they are giving my sister who is a student money and they want it to be fair, although they frame it in a different way), so I added $4,000 to my taxable goal. I have some money leftover so I can max out my 2018 HSA and Roth IRA in January. November was a three paycheck month, so I was able to save $4,000 out of my paychecks instead of the $2,000 I've been averaging. I just need to save $1,000 this month (should be able to do $2,000) and my 401(K) will max itself and I'm done for the year!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on December 14, 2017, 03:55:34 PM
I never updated at the end of November; we had saved $80,976.95 YTD as of the end of November. It looks like we will be falling short of our goal this year, but it's a big improvement over last year. Our savings rate as of the end of November was 41.6%.  I'll post a final update at the end of December, but I'm pretty happy with our comparison against last year:
2017 (through Nov), $80,976.95 saved, 41.6% savings rate
2016 $58,192.98 saved, 27% savings rate

It's amazing what a little bit of awareness and accountability makes. We will definitely try again next year to hit the 100k.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on December 15, 2017, 07:23:34 PM
Singleton.

401a:  $6000 (this is mandatory; cannot be increased or decreased)
403b: $24,000 (optional, but I will max it out)
mortgage principal:  $5000
457:  at least $15,000 (optional; I can put a max of $24,000 in, but not sure I will be able to)

That gets me to $50,000, but maybe I can do better!  We'll see!

Update:

401a:               $13,841 (counting both the employee and employer contributions)
403b:               $24,000
457:                $23,670
mortgage principal: $10,416

Total:              $71,927
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: PharmaStache on December 16, 2017, 11:59:44 AM
5.5k TFSA 1
5.5k TFSA 2
4k RRSP
2.5k RESP 1
5k RESP 2
19500 TFSA 1
8000 Taxable 11k so far.  Should be some more this month as well.
(not bothering to include pension contributions/matches this year)
=50k  53k so far
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 20, 2017, 11:50:07 AM
we hit 110k this year in savings.

we did just transfer 25k into a Donor Advised Fund with vanguard - so i dont know if we should count that as not reaching the goal. - but the tax implications of not doing so were to big to pass up- donate 25k today at a cost of 17.25k or get a lower return based on the new tax code coming out.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MM_MG on December 20, 2017, 10:40:20 PM
In...again...

$18,000  401K
$13,500  Match
$11,000  Backdoor roths
$22,000  Mega backdoor roth
$8,000    Pension
$6,750    HSA with employer contribution
$44,000  Bonus
$X.XX     Taxable

Done.  Haven't added up the final numbers, but it's over $100K.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: linuxhero on December 21, 2017, 09:56:08 AM
December numbers.  Hooray, goal reached!  Next year we should be able to do better with the tax plan changes adding an extra estimated ~ $5k to take home pay.

Married; single income; 2 kids


HSA:                   $5750 / $5750
HSA Match:             $1000 / $1000
401K After Tax:       $28920 / $27010
401K Employer Match:   $7084 / $6885
Roth IRA:              $5500 / $5500
401K Pre Tax:         $18000 / $18000
Wife Traditional IRA:  $5500 / $5500
Mortgage principle:    $8446 / $8446
=====================================
Total:                $80200 / $78091 (103%)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: McStache on December 21, 2017, 09:29:53 PM
December Update:
Bucket         Current / Goal
401k          $ 18,000 / $ 18,000 <-- Complete
401k Match     $ 5,864 / $ 5,000 <-- Complete
Roth IRA       $ 5,500 / $ 5,500 <-- Complete
HSA            $ 3,400 / $ 3,400 <-- Complete
Brokerage     $ 39,347 / $ 20,000 <-- Complete, but with windfall - now targeting $30,000 <-- Double complete
------------------------------------
Total         $ 72,110 / $ 50,000 <-- Complete, but with windfall - now targeting $60,000  <-- Double complete, but still have some individual goals to hit <-- Actually complete

January        $ 3,727   7.5%
February       $ 7,918   15.8%
March         $ 11,838   23.7%
April         $ 15,599   31.2%
May/June      $ 24,764   49.5%
July          $ 28,937   57.9%
August        $ 32,638   65.3%
September     $ 49,377   98.8%
October       $ 52,795   105.6%  (88.0% of new target)
November      $ 60,816   121.6%  (101.4% of new target)
December      $ 72,110   144.2%  (120.2% of new target)

Overall, a great year!  Exceeded the overall goal of $50K and met all of my sub goals.  Next year is a big ? with some life changes/trips in the works, but I'm hoping to still hit at least $50K.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Fomerly known as something on December 22, 2017, 06:21:57 AM
I made it as well, I think.

I maxed out everything as far as TSP/IRA/HSA.  My taxable gets a little bit tricky as I had an unexpected transfer and made a decent amount on my house sale that I wasn't sure how to account for in the challenge so I just fell back into systematic saving into my taxable but not really paying attention to exactly how much it was.  (I have some variation to my pay due to overtime and most of it gets saved.  I also have a couple of cash for specific purposes accounts that extra gets diverted to my taxable once they hit a certain amount.)

I'll be in again in 2018 for $75,000 for a single.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on December 27, 2017, 10:17:54 AM
Here's the Q4 update

                         (through 12/23 paycheck)
GOALS                       ACTUAL (thru Q4)
Pension savings $12K  14,060 117% (got a promotion/raise, pension is % of salary)
457 savings $24K        24,000 100%
403b savings $12K      24,000 200% (got a promotion/raise, $ going here)
ROTH savings $6.5K      6,500 100% (I forgot I had already contributed to my 2016 account, so I had everything saved for 2017)
After tax savings $4K   16,834 421% (rest of promotion/raise going here)
TOTAL $58.5K ($8K higher goal than 2016)  85,394 150% in Q4

The promotion/raise that helped me crush my 2017 financial goals also crushed my health and soul.  I'm bagging out of the job in 2018 as soon as possible.  No idea what my future path holds and what that means for my savings.  Hope to make enough to max out a 403b/401k type plan.  I do have money already saved for an IRA (be it Roth or traditional) so that will happen for 2018, but anything after that is TBD.  Exciting (aka frightening) times ahead...

CONGRATS to all those who met or exceeded your goals for the year!  HANG IN THERE for those that encountered circumstances where they felt short of their goals -- keep at it!!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: RetirementDreaming on December 27, 2017, 12:41:46 PM
We saved 104k in 2017 which was 75% of our goal.  We pulled in some expenses this year paid cash so it wiped out our savings account.  Next year should be flat to this year even with my husband retiring in the Summer.   
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: dreadmoose on December 27, 2017, 02:30:33 PM
Jan-17$200
Feb-17$1,700
Mar-17$5,650
Apr-17$9,576
May-17$18,365
Jun-17$30,847
Jul-17$42,619
Aug-17$52,436
Sep-17$60,290
Oct-17$68,144
Nov-17$77,961
Dec-17$105,090

Goal Reached!

This breaks down to:

TFSA$23,975
RRSP$81,115
Taxable$0.00

Did it, and with a little room to spare. Hopefully I can keep this pace up next year as well (will be much harder as I hit the need for taxable accounts).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 27, 2017, 03:34:49 PM
congrats all - 2018 challenge will be coming back up.  really earie to be socking away 6 digits and increasing that amount every year.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour on December 27, 2017, 06:19:00 PM
Here's the Q4 update

                         (through 12/23 paycheck)
GOALS                       ACTUAL (thru Q4)
Pension savings $12K  14,060 117% (got a promotion/raise, pension is % of salary)
457 savings $24K        24,000 100%
403b savings $12K      24,000 200% (got a promotion/raise, $ going here)
ROTH savings $6.5K      6,500 100% (I forgot I had already contributed to my 2016 account, so I had everything saved for 2017)
After tax savings $4K   16,834 421% (rest of promotion/raise going here)
TOTAL $58.5K ($8K higher goal than 2016)  85,394 150% in Q4

The promotion/raise that helped me crush my 2017 financial goals also crushed my health and soul.  I'm bagging out of the job in 2018 as soon as possible.  No idea what my future path holds and what that means for my savings.  Hope to make enough to max out a 403b/401k type plan.  I do have money already saved for an IRA (be it Roth or traditional) so that will happen for 2018, but anything after that is TBD.  Exciting (aka frightening) times ahead...

CONGRATS to all those who met or exceeded your goals for the year!  HANG IN THERE for those that encountered circumstances where they felt short of their goals -- keep at it!!


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?  :)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: MrThatsDifferent on December 28, 2017, 06:46:02 AM
I did it! Achieved the couple goal as a single (cause SO refuses to play) in one year! Yeah me! Thatís 5x more than I had last year this time. Wow! Thanks MMM!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ToughMother on December 28, 2017, 11:15:31 AM
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/ (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! 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: FireHiker on December 28, 2017, 12:27:05 PM
I never updated at the end of November; we had saved $80,976.95 YTD as of the end of November. It looks like we will be falling short of our goal this year, but it's a big improvement over last year. Our savings rate as of the end of November was 41.6%.  I'll post a final update at the end of December, but I'm pretty happy with our comparison against last year:
2017 (through Nov), $80,976.95 saved, 41.6% savings rate
2016 $58,192.98 saved, 27% savings rate

It's amazing what a little bit of awareness and accountability makes. We will definitely try again next year to hit the 100k.

Final 2017 number: $85,266.95 saved, 40.5% savings rate

So, we didn't make the 100k goal, but did increase our savings rate from 27% in 2016 to 40.5% in 2017. Onward to more progress in 2018! Thanks all for the encouragement here; it helps to have a place to be accountable and share goals.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ronsbusa3 on December 28, 2017, 02:14:04 PM
A little late to the party but I have good news. My DW and I saved $131,022 this year.  ($22k came from the sale of a not very mustachian corvette)  Up from $82k in 2016 Next year we look to hit the $100k goal again.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 on December 29, 2017, 06:09:40 AM
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/save-50k-single-100k-couple-in-2018/
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Need2Save on December 29, 2017, 07:45:52 AM
FINAL TALLY FOR 2017 IS IN:
401k Mrs:  $17,936 / $18,000 (100%) -- slightly off due to the way % works in our plan
401k Match Mrs: $3,259 / $2,400 (136%) - no change, will not get more $ until January '18
401k Mr: $18,000 / $18,000 (100%)
401k Match Mr: $10,049 / $5,500 (183%) -- includes $5,000 employer profit sharing deposit
HSA Mrs: $5,229 / $5,230 (100% - includes employer $ of $1,500)
HSA Mr: $1,420 / $1,520 (100% - includes employer $ of $1,000)
Taxable Investments:  $52,583 / $14,300 (368%)
Other Savings: $9,600 / $10,800 (89%)
College 529: $4,992 / $4,990 (100%)
Other College: $2,745 / $14,000 (20%) - no change
Extra Mortgage Princ:  $34,592 / $27,668 (125%)
TOTAL: $160,506 / $122,408 (131% of original goal)

We reached our stretch goal of $160k  -- so happy about that!

We met or exceeded all of our goals except college savings.  The reason for that is that one of our kids decided that college was not for him after one semester so there is no need to pile more money into that bucket. This allowed us to exceed some of our other goals for the year such as adding to our taxable investments.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: StarBright 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). 
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour 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/ (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!  :)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: NinetyFour 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.  :)
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: SAfAmBrit 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!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rife 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.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: PharmaStache 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
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 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/

Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: Rife 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.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 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
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: givemesunshine 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.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: ritz 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).
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: DirtDiva 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!
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: K-ice on January 07, 2018, 09:12:51 PM
Is there a new one for 2018 started?
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: boarder42 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.
Title: Re: Save 100k(couple) or 50k(single) in 2017
Post by: BlueHouse 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.