Author Topic: Save 50k single 100k couple in 2018  (Read 20812 times)

tralfamadorian

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Re: Save 50k single 100k couple in 2018
« Reply #150 on: June 29, 2018, 03:49:45 PM »
Q2:
                         GOAL     YTD      %
SE401k:                 18.5K     0        %
401k employer side:     12.5K     12.5K    100%
IRA:                     5.5K     5.5K     100%
HSA:                    3.45K     3.45K    100%
taxable:               10.05K     10.05K   100%
total:                    50K     31.5K    63%

Arbitrage

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Re: Save 50k single 100k couple in 2018
« Reply #151 on: June 29, 2018, 06:35:25 PM »

Edit: As of 6/29 - looks like we amped up the taxable savings this quarter!
Goal: $100k

Stash accounts
403b - 9203 / 18500
SIMPLE IRA - 6736 / 12500
401a - 2999 / 6000
SIMPLE match - 1250 / 2500
Backdoor Roth - 5500 / 5500
I bonds - 10000 / 10000
(Other) Taxable - 18933 / 27000

Other savings
529 #1 - 2800 / 6000
529 #2 - 2800 / 6000
Extra principal on mortgage - 2500 / 6000

If I juice the numbers a bit to include fixed debt repayment, I would add:
Standard principal payments on mortgage - 15200
Student loan principal - 2700

Hitting those goals means a NW increase of just under $120k in the absence of any investment returns/house price appreciation; i.e. this is what I can control.

NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #152 on: June 29, 2018, 11:04:35 PM »
Singleton.

Two notes:  I am retiring roughly half way through 2018.  I will receive a lump sum of a full year's salary as an incentive payout.

Savings Goals for 2018:

401a:               $6,800 (that includes both employee and employer contributions)
403b:              $24,500
457:               $24,500
mortgage principal: $8,000
taxable account:   $27,000
max Roth IRA 2017:  $6,500
max Roth IRA 2018:  $6,500

total:            $103,800


Progress so far:

401a:                $7,936 (that includes both employee and employer contributions)
403b:                $16,500
457:                 $16,500
mortgage principal:  $3,315
taxable account(s):  $46,000
max Roth IRA 2017:   $6,500
max Roth IRA 2018:   $6,500

Total so far:        $103,251


Wowser.  :)

ToughMother

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Re: Save 50k single 100k couple in 2018
« Reply #153 on: June 30, 2018, 08:24:23 AM »
Q2 update:
                GOAL            Q2             %
457:       24,500.00   17,658.69    72.1%
403b:     24,500.00   24,500.00   100.0%
pension:   9,200.00     5,800.75    63.1%
total:     58,200.00   47,959.44    82.4%

And WOW, @NinetyFour -- that taxable account is your BFF!!! Even after a big trip.  CONGRATS!
« Last Edit: October 02, 2018, 05:20:27 AM by ToughMother »

rebel_quietude

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Re: Save 50k single 100k couple in 2018
« Reply #154 on: June 30, 2018, 09:34:22 AM »
Sheesh, looking through - I don't see a single post from the end of June that's less than 50% of goal. Rockin' it, everybody!

Last year I saved $40,055.97.  $50k will be a stretch, but the good kind, I hope.

I can't claim credit for this at all. I sold my house, which resulted in a completely unsustainable (but nice) bump in savings.

Here's hoping I can repeat these numbers next year with just W2 income!

End of second quarter 2018:
 $9,285/ $18,500 401k (50%)
 $2,750/ $5,500 Roth (50%)
 $22,600/ $21,600 Taxable Brokerage (104%)
 $11,068/ $4,500 Cash (245%)

Jun 18 / 2018 Goal:
 $45,703/ $50,000 (91%)



NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #155 on: June 30, 2018, 12:00:31 PM »
Q2 update:
                GOAL            Q2             %
457:       24,500.00   17,658.69    72.1%
403b:     24,500.00   24,500.00   100.0%
pension:   9,200.00     5,800.75    63.1%
total:     58,200.00   47,959.44    82.4%

And WOW, @NinetyFour -- that taxable account is your BFF!!! Even after a big trip.  CONGRATS!

Thanks, @ToughMother !  I just received my Voluntary Separation Incentive Payout (a full year's salary in a lump sum), so that definitely helped boost my savings!  I will receive one more regular paycheck on 7/13, and then the firehose of cash will stop--yikes!

You are doing great--looks like you will have no problem exceeding your goal!

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #156 on: July 02, 2018, 08:22:06 AM »
NameGoalYTDRemaining
401k S&S$5500$1477.93$4022.07
401k Match$3895$1519.93$2375.07
IRA DH$8500$3000$5500
HSA$1900$1900$0
529$1200$0$1200
Debt$22600$6871.62$15728.38
Total$43595$14769.48$28825.52=33.88%

Sheesh, looking through - I don't see a single post from the end of June that's less than 50% of goal. Rockin' it, everybody!

Sorry to disappoint, but the goals were developed with the knowledge that I would be missing 3-4 months in the 1st half of the year due to maternity leave.  Hopefully, I will catch these up in the next few months.  Although the we will be hit with a very costly repair bill in July on the rental that will probably set us back on some of these goals.

AFrugalGuy

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Re: Save 50k single 100k couple in 2018
« Reply #157 on: July 02, 2018, 09:07:05 AM »
Right now, my husband and I are on track for $95,251.03 (a figure that does not include deductions for my DB pension plan). With his bonuses over the next six months, we should be able to reach that $100k threshold for the first time. We've done this through a combination of (very) lean spending and zero lifestyle inflation as our incomes have risen. My husband's new job also covers some monthly expenses (phone, gas, insurance for the car).

ToughMother

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Re: Save 50k single 100k couple in 2018
« Reply #158 on: July 03, 2018, 09:03:21 AM »

Thanks, @ToughMother !  I just received my Voluntary Separation Incentive Payout (a full year's salary in a lump sum), so that definitely helped boost my savings!  I will receive one more regular paycheck on 7/13, and then the firehose of cash will stop--yikes!

You are doing great--looks like you will have no problem exceeding your goal!

Ah, I had a cash infusion in April when I left my old soul-sucking job -- cashed out about 9 weeks of vacation at my old high pay and dumped it into my 403 and 457.  Now I'm piddling along at $500 per pay period (ouch, used to be $2K) but life is back and I just signed on yesterday to launch a ceramics studio for myself.  I hope you love retirement as much as I love having downsized my job.  It is nice to breathe and explore what life has to offer! Even if that means getting used to a garden hose rather than a firehose!

Cheers friend!

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #159 on: July 03, 2018, 09:14:02 AM »
June Totals:
GoalActualRemaining
401(K)18,5006,42812,072
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00027,00016,000
Total64,99236,92028,072
56.81% Complete

Nothing super exciting to report this month, but I guess that's good:-)

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #160 on: July 03, 2018, 09:37:24 AM »
June Totals:
GoalActualRemaining
401(K)18,5006,42812,072
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00027,00016,000
Total64,99236,92028,072
56.81% Complete

Nothing super exciting to report this month, but I guess that's good:-)

Why are you putting so much into taxable and not filling the HSA or IRA?  This is a serious questions, I am interested to learn why people choose to do thing.

salt cured

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Re: Save 50k single 100k couple in 2018
« Reply #161 on: July 03, 2018, 12:41:25 PM »
As of the end of June. Goal is $130k.

Tax Deferred:$53k
Taxable:$5k
Cash:$16k
Debt:$3k
Total:$77k

dreadmoose

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Re: Save 50k single 100k couple in 2018
« Reply #162 on: July 03, 2018, 01:08:10 PM »
Goals:

$39,415 TFSA
$34,532 RRSP

Date To Date   /  Goal %
Jan 2018 $4,035.22   /  $64,539 6.3%
Feb 2018 $8,027.74   /  $64,539 12.4%
Mar 2018 $12,975.69   /  $73,947 17.5%
Apr 2018 $16,968.21   /  $73,947 22.9%
May 2018 $31,461.39   /  $73,947 42.5%
June 2018 $39,302.70   /  $73,947 53.1% (+7841)

Project got back on track so overtime was approved, hasn't affected too much yet but should make the goals seem small by the end of the year. TFSA is now completely full, on to my RRSP and hopefully done that by November with new revamped goals. Only tracking myself, wife is still just getting started on her journey (will probably cause OMY for me until she's ready too).

Fomerly known as something

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Re: Save 50k single 100k couple in 2018
« Reply #163 on: July 06, 2018, 08:18:27 AM »
July:

401k/401k(Roth):  9793/18500
401k match:  3600.72/6000
IRA:  5,500/5,500
Taxable:  15332.5/35,000
House principle:  3444.51/5000
HSA:  $2,500/2,700
HSA pass through:  $375/$750

I recently switched from the traditional 401k to the Roth option due to what will be structural issues specific to me in retirement.  I might no make my taxable goal as I'm now looking at moving some yardwork expenses from next year to this year.

McStache

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Re: Save 50k single 100k couple in 2018
« Reply #164 on: July 06, 2018, 08:31:38 PM »
June Update:
Bucket         Current / Goal
401k          $ 15,915 / $ 24,500 (lumping pre-tax and after-tax contributions)
401k Match     $ 1,092 / $ 3,000
Roth IRA       $ 2,950 / $ 5,500
HSA            $ 2,225 / $ 3,450
Brokerage      $ 7,925 / $ 13,550
------------------------------------
Total         $ 30,107 / $ 50,000

January        $ 4,765   9.5%
February      $ 13,972   27.9%
March         $ 20,564   41.1%
April         $ 24,276   48.6%
May           $ 26,280   52.6%
June          $ 30,107   60.2%

rebel_quietude

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Re: Save 50k single 100k couple in 2018
« Reply #165 on: July 07, 2018, 04:41:02 PM »
Total$43595$14769.48$28825.52=33.88%

Sheesh, looking through - I don't see a single post from the end of June that's less than 50% of goal. Rockin' it, everybody!

Sorry to disappoint, but the goals were developed with the knowledge that I would be missing 3-4 months in the 1st half of the year due to maternity leave.  Hopefully, I will catch these up in the next few months.  Although the we will be hit with a very costly repair bill in July on the rental that will probably set us back on some of these goals.

@Slow&Steady Disappointed? Never! Congratulations, and best wishes for everyone's health and happiness (I'm thinking hopeful thoughts of babies sleeping through the night and taking it easy on their parents).

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #166 on: July 13, 2018, 08:03:20 AM »
Missed updating here for awhile but here's a catch up:

401k 1: $10,010 / $18,500
Match: $1,365 / $3,000
401k 2: $5,467 / $18,500
HSA: $3,150 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $9,506 / $31,000
============================
Total: $45,498 / $92,900 (49%)

Tracking just a bit behind schedule but hoping to pick it up now that our spendy Spring is over.

linuxhero

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Re: Save 50k single 100k couple in 2018
« Reply #167 on: July 25, 2018, 02:16:52 PM »
July's numbers.

Married; single income; 2 kids

Had a surprise water bill ($240!!) after the automatic water shut off valve for the garden stopped working (dead battery) _after_ it turned on.  We were gone for the weekend, so it ran for a day and a half until I got an alert that I used 9000 gallons of water.  That led to me replacing the main water valve for the house as well as installing a Zwave water shut off valve.  Now if more than 50 gallons of water is used while we are away from the house, the computer will automatically shut off the water supply to the house (and alert me).


HSA                   $2858 / $4900
HSA Match             $1000 / $2000
401K After Tax       $29062 / $29058
401K Employer Match   $4869 / $7442
401K Pre Tax          $2297 / $18500
Roth IRA              $5500 / $5500
Wife Traditional IRA  $5500 / $5500
Mortgage Principal    $5105 / $8834
Taxable Account       $5597 / $7000

Total:               $61789 / $88734 (69.6%)

jlcnuke

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Re: Save 50k single 100k couple in 2018
« Reply #168 on: July 26, 2018, 04:52:09 AM »
End of July update:

401K:                $12,638 / $18,500 - Still having to adjust contributions to ensure I get the full matching throughout the year, I really wish we had a true-up matching plan :(
401k matching:  $3,379/ $5,000 - may be a bit more or less depending on hours, but this is typical - if short here I'll try and make up elsewhere
IRA:                  $8,835 / $8,835  - Goal Achieved
HSA:                  $1,816 / $3,450 - On track now
Taxable:             $7,627 / $17,550 - Starting to make this up now.

Total:                 $34,296 / $53,335 (adjusted up $3,335 for 2017 IRA contribution) - 64% completed

Some of my numbers were off on the last update, but I've got it fixed now. Still on track to make this goal. I *may* be getting an unexpected tax refund that could boost the numbers (long-story), but I'm still shooting to make the goal without that money.

StarBright

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Re: Save 50k single 100k couple in 2018
« Reply #169 on: July 26, 2018, 07:48:21 AM »
Mid-Year Check In

401k Starbright                               $8,076.88 / $15,000.00
401a Starhus (includes match)       $7,717.50  / $13,230.00
Roth Starbright                                $1,050.00/ $1,500.00
Roth Starhus                                $1,050.00/ $1,500.00
Starbright employer match                             0/  $1,500.00  (this should show up Sep 30)
457b Starhus                                $2,450.00  /  $4,200.00
HSA    $3,000.00                               $1,500.00 / $3,000.00
Taxable inv/Money Market                $2,450.00/  $5,270.00
Extra Mortgage Principal                $2,800.00/   $4,800.00
   
Total   $27,094.38 of  $50,000.00 (for a couple)

DH may get a raise this month so his numbers might top our goal for him (He is required to put 15% back in his 401a not matter what and we hadn't planned on a raise for him this year.)

 

Blissful Biker

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Re: Save 50k single 100k couple in 2018
« Reply #170 on: July 26, 2018, 01:39:17 PM »
Update as of today:

Her TFSA: $5500 / $5500
His TFSA: $5800 / $5500
Her RRSP: $19K / $20K
RESP: 0 / $5K - We have decided that we are done contributing to the RESP.  The kids have 80% of what they need, which is enough.
Taxable Account: $27K / $ 39K
----------------------------
$57.3K / $75 = 76% of the way to our goal and the year is only 58% complete.  We are ahead of schedule and on track for $100K in savings this year.  Hooray!



« Last Edit: July 26, 2018, 01:41:29 PM by Blissful Biker »

salt cured

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Re: Save 50k single 100k couple in 2018
« Reply #171 on: July 27, 2018, 09:15:14 PM »
As of the end of July. Really overspent this month. Goal is $130k.

Tax Deferred:$63k
Taxable:$6k
Cash:$19k
Debt:$3k
Total:$91k

Need2Save

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Re: Save 50k single 100k couple in 2018
« Reply #172 on: July 28, 2018, 07:01:39 AM »
JULY PROGRESS
$10,424 / $ 18,500 -- 401k Mrs
$  6,669 / $   6,593 -- 401k Match Mrs
$11,779 / $ 18,500 -- 401k Mr
$  7,956 / $   5,122 -- 401k Match Mr
$  3,731 / $   5,230 -- HSA Mrs
$     510 / $   1,670 -- HSA Mr
$75,425 / $ 60,000 -- Taxable Investments
$  5,900 / $   8,000 -- Other Savings
$21,845 / $ 30,900 -- Extra Principal Payments
$144,379 / $154,515 -- TOTAL GOAL FOR 2018 

93% of our annual goal now.
July was notable in two ways. I received the 2nd part of my annual bonus and we used our quarterly sale of ESPP to reinvest in our taxable investment accounts. DH's company stock is higly volatile and usually goes down not up in value so we sell as soon as we can at the end of each quarter, grab out 15% return and then reinvest those funds into our other investment accounts immediately.

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #173 on: July 30, 2018, 08:32:07 AM »
NameGoalYTDRemaining
401k S&S$5500$2062.54$3437.46
401k Match$3895$2104.55$1790.45
IRA DH$8500$3000$5500
HSA$1900$1900$0
529$1200$0$1200
Debt$22600$8335.77$14264.23
Total$43595$17402.86$26192.14=39.92%

The hits keep coming on the rental house.  We will probably not be adding to the 529 accounts this year and might have to wait to make the 2018 IRA contribution until the beginning of 2019.  Tip for any landlords that are not local to your rental property, make your property manager send you pictures of your investment regularly or have a realtor give you an market evaluation regularly (even if you have to pay for it).  Your investment is worth nothing if it is in such bad repair that it cannot be sold, but your property manager will happily continue to take their fee off the top of rent.

dreadmoose

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Re: Save 50k single 100k couple in 2018
« Reply #174 on: August 01, 2018, 04:46:32 PM »
Goals:

$39,415 TFSA
$34,532 RRSP

Date To Date   /  Goal %
Jan 2018 $4,035.22   /  $64,539 6.3%
Feb 2018 $8,027.74   /  $64,539 12.4%
Mar 2018 $12,975.69   /  $73,947 17.5%
Apr 2018 $16,968.21   /  $73,947 22.9%
May 2018 $31,461.39   /  $73,947 42.5%
June 2018 $39,302.70   /  $73,947 53.1%
July 2018 $47,302.70   /  $73,947 64% (+8000)

Lots of overtime means my bonus is getting large here (not paid out until October)... working on my RRSP means the numbers are going up quickly for now too. Win until my RRSP is full sometime in late October at this pace.

I will have to revamp my goals soon or they will seem paltry compared to where I get to.

Edited for spelling
« Last Edit: August 15, 2018, 11:34:07 AM by dreadmoose »

tralfamadorian

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Re: Save 50k single 100k couple in 2018
« Reply #175 on: August 01, 2018, 04:53:07 PM »
Q2+1mo:
                         GOAL     YTD      %
SE401k:                 18.5K     18.5K    100%
401k employer side:     12.5K     12.5K    100%
IRA:                     5.5K     5.5K     100%
HSA:                    3.45K     3.45K    100%
taxable:               10.05K     10.05K   100%
total:                    50K     50K      100%


McStache

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Re: Save 50k single 100k couple in 2018
« Reply #176 on: August 01, 2018, 06:06:47 PM »
July Update:
Bucket         Current / Goal
401k          $ 17,350 / $ 24,500 (lumping pre-tax and after-tax contributions)
401k Match     $ 1,092 / $ 3,000
Roth IRA       $ 3,350 / $ 5,500
HSA            $ 2,429 / $ 3,450
Brokerage      $ 8,921 / $ 13,550
------------------------------------
Total         $ 33,143 / $ 50,000

January        $ 4,765   9.5%
February      $ 13,972   27.9%
March         $ 20,564   41.1%
April         $ 24,276   48.6%
May           $ 26,280   52.6%
June          $ 30,107   60.2%
July          $ 33,143   66.3%

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #177 on: August 05, 2018, 09:53:40 AM »
End of July update

401k 1: $10,253 / $18,500
Match: $1,631 / $3,000
401k 2: $6,250 / $18,500
HSA: $3,450 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $10,406 / $31,000
============================
Total: $47,990 / $92,900 (52%)

Mustachio Bashio

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Re: Save 50k single 100k couple in 2018
« Reply #178 on: August 05, 2018, 09:19:09 PM »
Hey all!  Joining this way late, but I changed jobs, and that changed my money situation, and now I'm good to go with the challenge!
 
Bucket           Current                Goal
401k              $11,703.84          $18,500 (wont be able to contribute more for another couple months, but eventually there will be matching as well)
Roth IRA        $5,500                 $5,500 (hoping I don't have to deal with this later in the chance that I don't qualify any more to contribute for the year)
HSA               $3,262                 $3,262 (no hsa at the new job and the last job would contribute a little bit each quarter, which is why I wont ever get to 3,450)
Brokerage      $10,200                $22,738
Total              $30,665                $50,000

AFrugalGuy

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Re: Save 50k single 100k couple in 2018
« Reply #179 on: August 06, 2018, 09:34:56 AM »
Now tracking at $99,967.57 as a couple (which does not include my contributions to my DB pension plan). One more quarterly bonus for my husband this year should put us over the top.

NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #180 on: August 07, 2018, 09:08:57 AM »

Thanks, @ToughMother !  I just received my Voluntary Separation Incentive Payout (a full year's salary in a lump sum), so that definitely helped boost my savings!  I will receive one more regular paycheck on 7/13, and then the firehose of cash will stop--yikes!

You are doing great--looks like you will have no problem exceeding your goal!

Ah, I had a cash infusion in April when I left my old soul-sucking job -- cashed out about 9 weeks of vacation at my old high pay and dumped it into my 403 and 457.  Now I'm piddling along at $500 per pay period (ouch, used to be $2K) but life is back and I just signed on yesterday to launch a ceramics studio for myself.  I hope you love retirement as much as I love having downsized my job.  It is nice to breathe and explore what life has to offer! Even if that means getting used to a garden hose rather than a firehose!

Cheers friend!

I am so glad you are enjoying life much more after leaving your Stressful Job!  That's what it's all about!

I am settling into retirement, I guess, although at this point, it still feels mostly like a normal(ish) summer.  I suppose it will really hit me in a few weeks, when classes at my college start up again.  I plan to be out having a wonderful long hike on August 27th (first day of classes).  And maybe I'll camp that night, so that I can hike again the next day...and the next one...and.....  :)

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #181 on: August 14, 2018, 01:44:36 PM »
June Totals:
GoalActualRemaining
401(K)18,5006,42812,072
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00027,00016,000
Total64,99236,92028,072
56.81% Complete

Nothing super exciting to report this month, but I guess that's good:-)

Why are you putting so much into taxable and not filling the HSA or IRA?  This is a serious questions, I am interested to learn why people choose to do thing.

I'm doing it because I left my old job and started a new one in January, so I no longer have a health insurance plan that allows me to contribute to an HSA, and I now make too much money to contribute to a Roth IRA (I also lost a 401(K) match, which is probably the biggest loss). I should land somewhere in the middle of the band where it starts to phase out for 2018, so I'll know exactly how much can go into my Roth when I file my taxes next year. I would love to continue to contribute to those two accounts, but I'll take making more money instead!
« Last Edit: August 14, 2018, 01:57:49 PM by ritz »

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #182 on: August 14, 2018, 01:51:39 PM »
July Totals:
GoalActualRemaining
401(K)18,5008,7629,738
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00030,00013,000
Total64,99242,25422,738
65.01% Complete

Another boring month!

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #183 on: August 20, 2018, 01:03:27 PM »
Mid August update

401k 1: $11,023 / $18,500
Match: $1,753 / $3,000
401k 2: $7,031 / $18,500
HSA: $3,727 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $11,902 / $31,000
============================
Total: $51,436 / $92,900 (55%)

use2betrix

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Re: Save 50k single 100k couple in 2018
« Reply #184 on: August 22, 2018, 09:08:55 AM »
Surpassed 100k net worth increase so far in 2018 on a single income (NW almost 300k total). In terms of just savings, I.e. not 401k match or investment gains, sitting at about $82k saved. Should hit 100k saved by October 1st. My overall goal is $10k/mo savings so pretty much on target.

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #185 on: August 22, 2018, 12:25:36 PM »
June Totals:
GoalActualRemaining
401(K)18,5006,42812,072
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00027,00016,000
Total64,99236,92028,072
56.81% Complete

Nothing super exciting to report this month, but I guess that's good:-)

Why are you putting so much into taxable and not filling the HSA or IRA?  This is a serious questions, I am interested to learn why people choose to do thing.

I'm doing it because I left my old job and started a new one in January, so I no longer have a health insurance plan that allows me to contribute to an HSA, and I now make too much money to contribute to a Roth IRA (I also lost a 401(K) match, which is probably the biggest loss). I should land somewhere in the middle of the band where it starts to phase out for 2018, so I'll know exactly how much can go into my Roth when I file my taxes next year. I would love to continue to contribute to those two accounts, but I'll take making more money instead!

That all makes complete sense, thank you for sharing.

jlcnuke

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Re: Save 50k single 100k couple in 2018
« Reply #186 on: August 30, 2018, 06:01:39 AM »
End of August update:

401K:                $14,087 / $18,500 - Still having to adjust contributions to ensure I get the full matching throughout the year, I really wish we had a true-up matching plan :(
401k matching:  $4,018/ $5,000 - may be a bit more or less depending on hours, but this is typical - if short here I'll try and make up elsewhere
IRA:                  $8,835 / $8,835  - Goal Achieved
HSA:                  $2,116 / $3,450 - On track
Taxable:             $11,227 / $17,550 - Starting to make this up now.

Total:                 $40,283 / $53,335 (adjusted up $3,335 for 2017 IRA contribution) - 76% completed

Still on track to make this goal. 76% completed with only 67% of the year over. Stretch goal of $60 may in fact be doable.

linuxhero

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Re: Save 50k single 100k couple in 2018
« Reply #187 on: August 30, 2018, 06:31:42 PM »
August's numbers.

Married; single income; 2 kids


HSA                   $3267 / $4900
HSA Match             $1000 / $2000
401K After Tax       $29062 / $29058
401K Employer Match   $5382 / $7442
401K Pre Tax          $5610 / $18500
Roth IRA              $5500 / $5500
Wife Traditional IRA  $5500 / $5500
Mortgage Principal    $5845 / $8834
Taxable Account       $5845 / $7000

Total:               $67011 / $88734 (75.5%)

peeps_be_peeping

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Re: Save 50k single 100k couple in 2018
« Reply #188 on: August 30, 2018, 06:50:25 PM »
                         Goal           YTD       Remaining
401(k)               18,500       0           18,500
401(k) match      3,240         0           3,240
Taxable               33,260       4,675    28,585
Total                    55,000      4,675    50,325   9.3% to total

Single and aiming to save $55,000 in 2018, for about a 50% savings rate. I started a new job 3 months ago and I won't be able to join the 401(k) until July 1. So I am hoping to max out my 401(k) in the last six months of the year.

Update:

Turns out I'm eligible to join the 401(k) with my May paycheck (we are paid once per month). Also I decided to fund my Roth IRA.

                        Goal           YTD       Remaining
401(k)               18,496       0           18,496
401(k) match      3,240         0           3,240
Roth IRA             5,500        3,000      2,500
Taxable               27,764      15,025    12,739
Total                    55,000     18,025    36,975        32.7% to goal

                        Goal           YTD       Remaining
401(k)               18,496       9,248           9,248
401(k) match      3,240         1,080          1,080
Roth IRA             5,500        5,500              0
Taxable              27,764       18,671       10,173
Total                  55,000      34,499        20,501        62.7% to goal

dreadmoose

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Re: Save 50k single 100k couple in 2018
« Reply #189 on: August 31, 2018, 08:09:47 AM »
Goals (single):

$39,415 TFSA [Full]
$34,532 RRSP [17,887.70 Done]


Date To Date   /  Goal %
Jan 2018 $4,035.22   /  $64,539 6.3%
Feb 2018 $8,027.74   /  $64,539 12.4%
Mar 2018 $12,975.69   /  $73,947 17.5%
Apr 2018 $16,968.21   /  $73,947 22.9%
May 2018 $31,461.39   /  $73,947 42.5%
June 2018 $39,302.70   /  $73,947 53.1%
July 2018 $47,302.70   /  $73,947 64%
Aug 2018 $57,302.70   /  $73,947 77.5% (+10,000)

Looks like I'll blow past my single saving goal, though my project is slowing down here so overtime may not be as easy to come by.

I still have a good bonus in October if everything holds out so here's to hoping.

Arbitrage

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Re: Save 50k single 100k couple in 2018
« Reply #190 on: August 31, 2018, 08:44:43 AM »
Edit: As of 8/31
Goal: $100k

Stash accounts
403b - 12407 / 18500
SIMPLE IRA - 10545 / 12500
401a - 4450 / 6000
SIMPLE match - 1800 / 2500
Backdoor Roth - 5500 / 5500
I bonds - 10000 / 10000
(Other) Taxable - 28678 / 27000

Other savings
529 #1 - 4050 / 6000
529 #2 - 4050 / 6000
Extra principal on mortgage - 3500 / 6000

We essentially could coast to the goal at this point, not that I plan to put the brakes on.  However, the looming problem is the kitchen remodel that DW insists we start looking into come November.  That'll kill our numbers (I'll likely have to subtract from the YTD savings numbers).  Getting the net savings to $100k while also paying for the remodel will be the new challenge.  WAG for remodel is $20k for refacing or repainting existing cabinets, updating counters, backsplash, and floor, and possibly some new middle-of-the-road appliances and materials.  Doubtless any experienced remodeler will tell me that number is way too low.  Either way, I'll have to keep the savings on overdrive to overcome.

Arbitrage

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Re: Save 50k single 100k couple in 2018
« Reply #191 on: August 31, 2018, 09:51:08 AM »
Since my previous update was at the end of June, I thought I'd calculate our two-month savings numbers, which were juiced a bit due to an unexpected $5k bonus ($2.9k after taxes) that went straight into savings.

July + August savings total: $22259
July + August savings including student loan and mortgage principal paydown: $25200

Score!

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #192 on: August 31, 2018, 02:20:55 PM »
End of August update:

401k 1: $12,563 / $18,500
Match: $1,998 / $3,000
401k 2: $7,812 / $18,500
HSA: $4,025 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $13,325 / $31,000
============================
Total: $55,723 / $92,900 (60%)

Currently tracking about 6% behind. Hoping to make this up with an uptick in saving and paying off the student loan over the last 4 months of the year.

Mustachio Bashio

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Re: Save 50k single 100k couple in 2018
« Reply #193 on: September 01, 2018, 10:04:24 AM »
Bucket           Current                Goal
401k              $11,703.84          $18,500
Roth IRA        $5,500                 $5,500
HSA               $3,262                 $3,262
Brokerage      $18,100                $22,738
Total              $38,565               $50,000

Added $7900 to the brokerage account.  Still can't contribute to my 401k yet, and moved some extra cash that was building up over to VTSAX.

Need2Save

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Re: Save 50k single 100k couple in 2018
« Reply #194 on: September 02, 2018, 05:29:19 AM »
AUGUST PROGRESS
$12,708 / $ 18,500 -- 401k Mrs
$  6,669 / $   6,593 -- 401k Match Mrs
$13,553 / $ 18,500 -- 401k Mr
$  8,547 / $   5,122 -- 401k Match Mr
$  4,176 / $   5,230 -- HSA Mrs
$     690 / $   1,670 -- HSA Mr
$81,225 / $ 60,000 -- Taxable Investments
$  6,400 / $   8,000 -- Other Savings
$26,246 / $ 30,900 -- Extra Principal Payments
$160,214 / $154,515 -- TOTAL GOAL FOR 2018 

104% of our annual goal now.
August included three biweekly paychecks for both of us so we were able to save extra into our taxable investments.  I also padded our vacation fund but am not reporting that for this saving goal since it's likely to be used in the next 24 months on planned vacation spending. We are on track to hit $200k which I didn't think would happen before we finished paying off the mortgage so that is simply awesome.

AFrugalGuy

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Re: Save 50k single 100k couple in 2018
« Reply #195 on: September 02, 2018, 08:14:07 PM »
Update as of August 31st: $70,359.17 saved toward $100k goal (couple); on track for $102,683.70 by year-end.

McStache

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Re: Save 50k single 100k couple in 2018
« Reply #196 on: September 03, 2018, 05:52:00 PM »
August Update:
Bucket         Current / Goal
401k          $ 18,786 / $ 24,500 (lumping pre-tax and after-tax contributions)
401k Match     $ 1,092 / $ 3,000
Roth IRA       $ 3,750 / $ 5,500
HSA            $ 2,633 / $ 3,450
Brokerage     $ 10,188 / $ 13,550
------------------------------------
Total         $ 36,450 / $ 50,000

January        $ 4,765   9.5%
February      $ 13,972   27.9%
March         $ 20,564   41.1%
April         $ 24,276   48.6%
May           $ 26,280   52.6%
June          $ 30,107   60.2%
July          $ 33,143   66.3%
August        $ 36,450   72.9%


I was hoping 401k matching for the new job would kick in this month, but it looks like it will be next month.  That should help get me over the finish line to $50k with a little bit of cushion.

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #197 on: September 04, 2018, 09:31:57 AM »

NameGoalYTDRemaining
401k S&S$5500$2939.47$2560.53
401k Match$3895$2981.47$913.53
IRA DH$8500$3000$5500
HSA$1900$1900$0
529$1200$0$1200
Debt$22600$12767.49$9832.51
Total$43595$23588.43$20006.57=54.11%

The hits keep coming on the rental house.  We will probably not be adding to the 529 accounts this year and might have to wait to make the 2018 IRA contribution until the beginning of 2019.  Tip for any landlords that are not local to your rental property, make your property manager send you pictures of your investment regularly or have a realtor give you an market evaluation regularly (even if you have to pay for it).  Your investment is worth nothing if it is in such bad repair that it cannot be sold, but your property manager will happily continue to take their fee off the top of rent.

It is nice to see that our % of goal went from the 30 to the 50, it sucks to know that it will not hit 100% this year.  Just keep moving and hopefully 2019 can be planned out a little better.

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #198 on: September 05, 2018, 12:42:39 PM »
August Totals:
GoalActualRemaining
401(K)18,50011,0957,405
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00034,0009,000
Total64,99248,58716,405
74.76% Complete

The good: I received a small tax refund I'd been waiting for, so I was able to save a little more than usual this month.
The bad: I spent $1,600 on my dog, so I won't be able to save as much as usual in September.
The ugly: Nothing. Life is good, my dog will be fine, and I'm happy that I have enough money that I don't need to worry about expenses like that:-)

Fomerly known as something

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Re: Save 50k single 100k couple in 2018
« Reply #199 on: September 08, 2018, 08:42:10 AM »
September:

401k/401k(Roth):  12,593/18500
401k match:  4631.92/6000
IRA:  5,500/5,500
Taxable:  17429.63/TBD  Extra is going to landscaping project I will continue with regularly allocated.
House principle:  4400.23/5000
HSA:  $2,500/2,700
HSA pass through:  $525/$750

Goal now only $50,000 vs 75,000.  Yard work (letting a land scarper do the heavy lifting on it I'll do the finishing) is being moved up to this year.