Author Topic: Save 100k(couple) or 50k(single) in 2017  (Read 57176 times)

boarder42

  • Walrus Stache
  • *******
  • Posts: 9332
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #50 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?

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 7916
  • Age: 1
  • Location: Earth
  • K Thnx Bye
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #51 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.

boarder42

  • Walrus Stache
  • *******
  • Posts: 9332
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #52 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.

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 7916
  • Age: 1
  • Location: Earth
  • K Thnx Bye
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #53 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!

ritz

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #54 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

Sailor Sam

  • CMTO 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5731
  • Age: 43
  • Location: Steel Beach
  • Semper...something
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #55 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.

McStache

  • Bristles
  • ***
  • Posts: 342
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #56 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%
« Last Edit: January 21, 2017, 01:03:28 PM by McStache »

RWD

  • Walrus Stache
  • *******
  • Posts: 6529
  • Location: Arizona
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #57 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.
« Last Edit: July 07, 2017, 04:42:50 PM by RWD »

asauer

  • Pencil Stache
  • ****
  • Posts: 848
  • Location: North Carolina
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #58 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.

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #59 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%)


K-ice

  • Pencil Stache
  • ****
  • Posts: 982
  • Location: Canada
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #60 on: January 25, 2017, 08:28:05 PM »
Hello!

Posting to follow & play a little later.

Stachless

  • Stubble
  • **
  • Posts: 128
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #61 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!!





Dicey

  • Senior Mustachian
  • ********
  • Posts: 22320
  • Age: 66
  • Location: NorCal
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #62 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. 

MrsTuxedocat

  • Bristles
  • ***
  • Posts: 312
  • Location: Canada
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #63 on: January 29, 2017, 01:24:26 AM »
We'd like to join along -- this year we will try to save 75k.

Rife

  • 5 O'Clock Shadow
  • *
  • Posts: 67
  • Age: 52
  • Location: WA
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #64 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

ThePaulAvery

  • 5 O'Clock Shadow
  • *
  • Posts: 2
  • Location: Fort Dix, NJ
    • Paul Avery
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #65 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.

SAfAmBrit

  • Stubble
  • **
  • Posts: 206
  • Age: 52
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #66 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!
« Last Edit: January 29, 2017, 08:24:57 PM by SAfAmBrit »

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 4136
  • Location: WDC
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #67 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
« Last Edit: January 30, 2017, 08:37:54 AM by BlueHouse »

SpareChange

  • Pencil Stache
  • ****
  • Posts: 707
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #68 on: January 31, 2017, 12:13:43 AM »
January: $4993.76/50k (9.99%)

jorjor

  • Bristles
  • ***
  • Posts: 351
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #69 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.

ritz

  • 5 O'Clock Shadow
  • *
  • Posts: 42
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #70 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.

bigchrisb

  • Handlebar Stache
  • *****
  • Posts: 1237
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #71 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.

Need2Save

  • Bristles
  • ***
  • Posts: 385
  • Location: Maryland (USA)
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #72 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! 

rpr

  • Pencil Stache
  • ****
  • Posts: 718
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #73 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). 

Sailor Sam

  • CMTO 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5731
  • Age: 43
  • Location: Steel Beach
  • Semper...something
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #74 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.
« Last Edit: February 03, 2017, 12:18:38 PM by Sailor Sam »

Fomerly known as something

  • Handlebar Stache
  • *****
  • Posts: 1627
  • Location: CA
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #75 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. 
« Last Edit: February 01, 2017, 04:24:56 AM by neverrun »

tryingtosave

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #76 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.

HappierAtHome

  • Walrus Stache
  • *******
  • Posts: 8015
  • Location: Australia
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #77 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

boarder42

  • Walrus Stache
  • *******
  • Posts: 9332
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #78 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

PharmaStache

  • Bristles
  • ***
  • Posts: 274
  • Location: Canada
  • Peg City 'Stache
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #79 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)

Need2Save

  • Bristles
  • ***
  • Posts: 385
  • Location: Maryland (USA)
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #80 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.






purple monkey

  • Bristles
  • ***
  • Posts: 323
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #81 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?

boarder42

  • Walrus Stache
  • *******
  • Posts: 9332
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #82 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.


linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #83 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%)

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 4136
  • Location: WDC
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #84 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%


McStache

  • Bristles
  • ***
  • Posts: 342
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #85 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%

DirtDiva

  • Bristles
  • ***
  • Posts: 260
  • Age: 59
  • Location: The pale blue dot
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #86 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. 

StarBright

  • Magnum Stache
  • ******
  • Posts: 3270
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #87 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.



Need2Save

  • Bristles
  • ***
  • Posts: 385
  • Location: Maryland (USA)
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #88 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! 

SAfAmBrit

  • Stubble
  • **
  • Posts: 206
  • Age: 52
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #89 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.

SpareChange

  • Pencil Stache
  • ****
  • Posts: 707
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #90 on: February 27, 2017, 11:22:21 PM »
February: $7,583.38/50k (25.2%)

RetirementDreaming

  • Stubble
  • **
  • Posts: 120
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #91 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.

Dicey

  • Senior Mustachian
  • ********
  • Posts: 22320
  • Age: 66
  • Location: NorCal
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #92 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!

Dicey

  • Senior Mustachian
  • ********
  • Posts: 22320
  • Age: 66
  • Location: NorCal
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #93 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.

Sailor Sam

  • CMTO 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5731
  • Age: 43
  • Location: Steel Beach
  • Semper...something
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #94 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


« Last Edit: June 09, 2017, 10:58:13 PM by Sailor Sam »

Jet9

  • 5 O'Clock Shadow
  • *
  • Posts: 58
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #95 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

bigchrisb

  • Handlebar Stache
  • *****
  • Posts: 1237
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #96 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!

SAfAmBrit

  • Stubble
  • **
  • Posts: 206
  • Age: 52
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #97 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!

Fomerly known as something

  • Handlebar Stache
  • *****
  • Posts: 1627
  • Location: CA
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #98 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

jorjor

  • Bristles
  • ***
  • Posts: 351
Re: Save 100k(couple) or 50k(single) in 2017
« Reply #99 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.
« Last Edit: March 01, 2017, 09:11:35 AM by jorjor »