Author Topic: Save 50k single 100k couple in 2018  (Read 13295 times)

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #50 on: February 03, 2018, 07:13:27 AM »
401k 1: $1,540 / $18,500
Match: $211 / $3,000
401k 2: $0 / $18,500
HSA: $0 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $5,862 / $11,000
Student Loan Debt Paid: $453 / $31,000
============================
Total: $13,066 / $92,900 (14.2%)
« Last Edit: February 12, 2018, 03:14:39 PM by zeli2033 »

SAfAmBrit

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Re: Save 50k single 100k couple in 2018
« Reply #51 on: February 03, 2018, 09:15:33 AM »
I have just changed jobs and become a contractor. The are paying me +8% to cover employer contributions - any guidelines from here would be great. Obviously no 401k. SO has full military pension.

We are in for another year

$    2365 / $    2,365 -401k
$         0 / $    1,400--401k match
$   1,500 / $    5,500--Roth
$   3,500 / $    6,500--DH Roth
$   1,250 / $  86,000--Taxable Investment
_________________________
$ 8,615 / $  $100,865- On track

FireHiker

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Re: Save 50k single 100k couple in 2018
« Reply #52 on: February 08, 2018, 10:48:20 AM »
January numbers are in; lower than I'd like them to be, but we had to pay car insurance (OMG that hurts with a teenage boy; cheaper overall to pay in one lump instead of monthly) and paid for a lot of our travel expenses for the rest of the year. It should be the worst month of the year savings-wise.

401ks including matching: $3997.28
401k loan repayments: $615.10
HSA: $580.76
Cash: $825.16

Total: $6018.30

Savings rate: 39%

I really want to get the savings rate up to 50% this year. Last year we ended at 40.5% for the entire year. I was feeling disappointed about not having saved more in January until I checked last year's numbers. For comparison, last year our January savings were only $3916, so I guess this year is definite progress!

Mezzie

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Re: Save 50k single 100k couple in 2018
« Reply #53 on: February 11, 2018, 03:26:58 PM »
I'm not sure this is realistic, but I'll give it a go.

Currently we're set for the following:
403    18,000
457     10,000
401       5,000
TACK     3,000 (estimate; depends on company profits at end of year)
Roth       5,500
Roth       5,500
Treasury Bonds  1,000

Total:  48,000

If mortgage principal counts, then that's about another 12,000.

Total: 60,000

We don't make much over $100,000 gross, so actually hitting $100,000 would probably take starvation levels of asceticism, but I can use this as a challenge to get as close as possible.

I will try to make the following increases:
$1,000 more to 457
$1,000 more to 401
$1,000 more to bonds

If I can reach those goals, I'll add to my challenge.
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ritz

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Re: Save 50k single 100k couple in 2018
« Reply #54 on: February 13, 2018, 11:14:42 AM »
January Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA5,5001,0004,500
HSA2880288
Taxable40,0006,00034,000
Total64,9929,46655,526
14.57% Complete

I switched jobs in January, so I ended up with a little more cash than a normal month. The new 401(K) investment options suck at my new job, so I'm pretty bummed about that. I've already complained and it was made clear that they're not going to change. I'm still planning on maxing it out this year, but I haven't even turned in the paperwork yet.

peeps_be_peeping

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Re: Save 50k single 100k couple in 2018
« Reply #55 on: February 13, 2018, 06:21:08 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.

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #56 on: February 15, 2018, 09:21:53 AM »
401k 1: $2,310 / $18,500
Match: $316 / $3,000
401k 2: $0 / $18,500
HSA: $0 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $10,152 / $11,000
Student Loan Debt Paid: $906 / $31,000
============================
Total: $18,684 / $92,900 (20.1%)

NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #57 on: February 16, 2018, 09:26:19 AM »
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:  $6800 (that includes both employee and employer contributions)
403b:  $24,500
457:  $24,500
mortgage principal:  $8000
taxable account:  $27,000
max Roth IRA 2017:  $6500
max Roth IRA 2018:  $6500

total:  $103,800

Progress so far:

401a:  $1758 (that includes both employee and employer contributions)
403b:  $1000
457:  $1000
mortgage principal:  $1104
taxable account:  $10,000
max Roth IRA 2017:  $6500
max Roth IRA 2018:  $6500

Total so far:  $27,862

salt cured

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Re: Save 50k single 100k couple in 2018
« Reply #58 on: February 16, 2018, 10:43:33 AM »
SO and I saved $102k last year. For 2018, the goal is $130k total with $100k in tax deferred accounts, $15k in cash, $10k in a taxable account, and $5k to debt.

We have a 67% savings rate for Jan/Feb. On track to hit $100k by July, assuming no unexpected expenses (knocks on wood).

As of end of Feb:
Tax Deferred:$17k
Taxable:$3k
Cash:$5k
Debt:$1k
Total:$26k
« Last Edit: February 18, 2018, 08:05:59 AM by salt cured »

neophyte

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Re: Save 50k single 100k couple in 2018
« Reply #59 on: February 16, 2018, 05:10:52 PM »
I was thinking this was completely out of the realm of possibility for me, but it can't hurt to try, right?

Single, no kids.  I gross $55k at my job, but I also get a little rent from my roommates (don't want to count my chickens before they hatch) which might just push this into the barely feasible category.

GOALS:

403(b):                   $18500
match:                    $4460
HSA:                       $3450
IRA:                        $5500
mortgage principal:  $4628
taxable:                   $13462  <-  $1120 /month.   This is going to be a stretch goal!  If I get to count reinvested dividends, it's probably doable.

rebel_quietude

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Re: Save 50k single 100k couple in 2018
« Reply #60 on: February 18, 2018, 01:26:01 AM »
Late to the party, but I'll hop on this bandwagon!
Last year I saved $40,055.97.  $50k will be a stretch, but the good kind, I hope.

Goals (I liked zeli's way of posting, copying):

Feb 18 / 2018 Goal:

$2,234 / $18,500 401k
$916 / $5,500 Roth
$3,200 / $21,600 Taxable Brokerage
$0 / $4,500 Cash (re-building E-Fund after some house expenses)

$6,350 / $50,100 (12.6%)

I'd normally be skeptical, but I'm selling my house this year and may make a few grand, and traveling for work which will bring some travel pay. We'll see how it goes.

Good luck everyone!

Livethedream

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Re: Save 50k single 100k couple in 2018
« Reply #61 on: February 18, 2018, 10:11:12 AM »
Married 2 kids

$5500 Roth
$5500 Roth
$6000 Pension (ugh)
$40-50k mortgage principal (house payoff estimate July 2020)

Puts us around $60k. Hoping to budget better and squeeze some more out.

boarder42

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Re: Save 50k single 100k couple in 2018
« Reply #62 on: February 19, 2018, 10:28:20 AM »
Married 2 kids

$5500 Roth
$5500 Roth
$6000 Pension (ugh)
$40-50k mortgage principal (house payoff estimate July 2020)

Puts us around $60k. Hoping to budget better and squeeze some more out.

Welcome!

you could not pay off that mortgage and come out wildly ahead vs trying to budget better and squeeze more out that way. with Roth's you're US based and your mortgage is likely sub 4% fixed. so sqeezing pennies is overlooking your easiest path to increased wealth - not pumping 40-50k a year extra into a mortgage
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linuxhero

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Re: Save 50k single 100k couple in 2018
« Reply #63 on: February 21, 2018, 02:46:29 PM »
February's numbers.

Married; single income; 2 kids


HSA                   $817 / $4900
HSA Match               $0 / $2000
401K After Tax       $7859 / $29270
401K Employer Match   $993 / $7230
401K Pre Tax            $0 / $18500
Roth IRA              $713 / $5500
Wife Traditional IRA  $713 / $5500
Mortgage Principal   $1445 / $8834
Taxable Account         $0 / $7000

Total:              $12540 / $88734 (14.13%)

Livethedream

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Re: Save 50k single 100k couple in 2018
« Reply #64 on: February 21, 2018, 08:16:41 PM »
Married 2 kids

$5500 Roth
$5500 Roth
$6000 Pension (ugh)
$40-50k mortgage principal (house payoff estimate July 2020)

Puts us around $60k. Hoping to budget better and squeeze some more out.

Welcome!

you could not pay off that mortgage and come out wildly ahead vs trying to budget better and squeeze more out that way. with Roth's you're US based and your mortgage is likely sub 4% fixed. so sqeezing pennies is overlooking your easiest path to increased wealth - not pumping 40-50k a year extra into a mortgage

Thanks for the welcome. We strongly considered this route but after running some numbers we realized we would be able to pay off the house in under 4 years. Sure, we are missing out on some gains, but we are also lessening our risk. Iíve noticed there is quite a heated debate between the pay it off/ drag it out of low interest crowd. This is the approach we feel is best suited for our family at this point in time.

Need2Save

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Re: Save 50k single 100k couple in 2018
« Reply #65 on: February 22, 2018, 06:56:21 AM »
February Progress
$2,842 / $ 18,500 -- 401k Mrs
$3,296 / $   6,593 -- 401k Match Mrs -- no change until July
$2,628 / $ 18,500 -- 401k Mr
$  788 /  $   5,122 -- 401k Match Mr
$2,094 / $   5,230 -- HSA Mrs
$   120 / $   1,670 -- HSA Mr
$6,675 / $ 60,000 -- Taxable Investments
$3,400 / $   8,000 -- Other Savings
$3,840 / $ 30,900 -- Extra Principal Payments
$25,683 / $154,515 -- TOTAL GOAL FOR 2018 
(February is up to 17% of our annual goal)


Looking forward to March! It will be a great month for us income wise so we will pad the investments and pay extra on principal.

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #66 on: February 22, 2018, 10:11:10 AM »
I have looked past this challenge for the last few years because as a couple we did not even make 100k, so no way we could save 100k.  However, it looks like there are at least a few that joined as a couple that are not able to make the 100k goal either!!

We have a couple hiccups this year that makes our savings rates/abilities even lower than normal.  I am the only one with access to a 401k and I switched jobs, that means that I have lost the ability to contribute to 401k for 30 days and no longer have an HSA option.  I am also due with our 2nd (last) kid in March and will be taking an unpaid maternity leave, meaning no 401k contributions during that time and delayed (until I get back to work) savings for everything else.  So my updates might not happen again (or be unremarkable) until July-ish.  Although I think I should get a couple contributions into the new 401k in March before baby is born, we will see.

I also rounded the goals but the YTD and Remaining will include pennies!

Name Goal / YTD / Remaining      
401k S&S $5500 / $454.85 / $5045.15       
401k Match $3895 / $606.47 / $3288.53       
IRA DH $8500 / $3000 / $5500       
HSA   $1900 / $1900 / $0       
529  $1200 / $0 / $1200       
Debt $22600 / $2667.15 / $19932.85       

Total   $43595 / $8628.47 / $34966.53 = 19.8%

McStache

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Re: Save 50k single 100k couple in 2018
« Reply #67 on: February 26, 2018, 06:30:49 PM »
February Update:
Bucket         Current / Goal
401k           $ 8,715 / $ 23,500 (lumping pre-tax and after-tax contributions)
401k Match     $ 1,092 / $ 3,000
Roth IRA       $ 2,050 / $ 5,500
HSA              $ 992 / $ 3,450
Brokerage      $ 1,078 / $ 14,550
------------------------------------
Total         $ 13,972 / $ 50,000

January        $ 4,765   9.5%
February      $ 13,972   27.9%

This was my last month with my previous employer, so got some lump sum payouts in the last paycheck.  Next month will probably be more sparse with only a few days of work with the new job, but who know - tax refunds may come through.

dreadmoose

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Re: Save 50k single 100k couple in 2018
« Reply #68 on: February 27, 2018, 01:55:20 PM »
Current Goals are

$42,415 TFSA
$22,124 RRSP

Date To Date   /  Goal %
Jan 2017 $4,035.22   /  $64,539 6.3%
Feb 2017 $8,027.74   /  $64,539 12.4%

Seems slow as I'm filling my TFSA first for the year (easier CPP calculations), things are on track.
Just starting on my FIRE journey, hopefully posting here creates accountability and eventually lowers my very anti-mustachian life habits.

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #69 on: February 28, 2018, 08:11:18 AM »
401k 1: $3,080 / $18,500
Match: $421 / $3,000
401k 2: $0 / $18,500
HSA: $0 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $906 / $31,000
============================
Total: $20,407 / $92,900 (22%)

NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #70 on: February 28, 2018, 08:31:31 AM »
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:               $6800 (that includes both employee and employer contributions)
403b:              $24500
457:               $24500
mortgage principal: $8000
taxable account:   $27000
max Roth IRA 2017:  $6500
max Roth IRA 2018:  $6500

total:            $103800


Progress so far:

401a:                $2305 (that includes both employee and employer contributions)
403b:                $2000
457:                 $2000
mortgage principal:  $1104
taxable account:    $10000
max Roth IRA 2017:   $6500
max Roth IRA 2018:   $6500

Total so far:       $30409

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #71 on: March 01, 2018, 09:04:49 AM »
I have looked past this challenge for the last few years because as a couple we did not even make 100k, so no way we could save 100k.  However, it looks like there are at least a few that joined as a couple that are not able to make the 100k goal either!!

We have a couple hiccups this year that makes our savings rates/abilities even lower than normal.  I am the only one with access to a 401k and I switched jobs, that means that I have lost the ability to contribute to 401k for 30 days and no longer have an HSA option.  I am also due with our 2nd (last) kid in March and will be taking an unpaid maternity leave, meaning no 401k contributions during that time and delayed (until I get back to work) savings for everything else.  So my updates might not happen again (or be unremarkable) until July-ish.  Although I think I should get a couple contributions into the new 401k in March before baby is born, we will see.

I also rounded the goals but the YTD and Remaining will include pennies!

Name Goal / YTD / Remaining      
401k S&S $5500 / $747.16 / $4752.84       
401k Match $3895 / $789.16 / $3105.84       
IRA DH $8500 / $3000 / $5500       
HSA   $1900 / $1900 / $0       
529  $1200 / $0 / $1200       
Debt $22600 / $2669.64 / $19930.36       

Total   $43595 / $9105.96 / $34489.04 = 20.9%

Small update, looks like the new company allowed me to start contributing to 401k on this paycheck!  That means that I will get 3 contributions in before baby gets here (assuming she comes on or around her due date), I thought I would only get 2 in!

Fomerly known as something

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Re: Save 50k single 100k couple in 2018
« Reply #72 on: March 01, 2018, 09:16:50 AM »
February:

401k:  3493.00/18500
401k match:  1280.53/6000
IRA:  5,500/5,500
Taxable:  4210.21/35,000
House principle:  416.27/5000
HSA:  $2,500/2,700
HSA pass through:  $125/$750

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #73 on: March 01, 2018, 09:31:44 AM »
February Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA5,5002,0003,500
HSA2882880
Taxable40,0008,00032,000
Total64,99212,75452,238
19.62% Complete

The biggest problem I have right now is that I was told that I could start contributing to my 401(k) immediately, but it turns out that you need to have worked here for 6 months. They said that they're going to change that, but at the rate that anything happens around here (small, understaffed company), I'm sure I will have already worked here for 6 months. I can max it out in the last couple of months of the year, so that's not really an issue, but I would prefer that my contributions were going in earlier. Of course, the options that they have are horrible for investing, so maybe it's better that my money is currently all going to my Fidelity account.

SAfAmBrit

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Re: Save 50k single 100k couple in 2018
« Reply #74 on: March 02, 2018, 11:30:20 PM »
Feb 2017

$    2365 / $    2,365 -401k
$         0 / $    1,400--401k match
$   5,500 / $    5,500--Roth
$   6,500 / $    6,500--DH Roth
$   5,250 / $  86,000--Taxable Investment
_________________________
$19,615 / $  $100,865- On track

neophyte

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Re: Save 50k single 100k couple in 2018
« Reply #75 on: March 05, 2018, 10:21:18 PM »
accountgoalFebruary% goal
403(b)185003333.5218.52%
match4460743.4016.67%
HSA3450392.3011.37%
IRA55005500100%
mortgage principal4628757.4716.37%
taxable1346200%
total5000010726.6921.45%

Doing this made me realize that my withholding is messed up. HSA is too low and 403(b) is too high so I won't get the full match for December unless I fix it.

BlueHouse

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Re: Save 50k single 100k couple in 2018
« Reply #76 on: March 06, 2018, 10:12:08 AM »
Progress thru Feb 2018

                          YTD                Goal 
401K                       $4,000             $24,000   
401K match           $30,895             $36,000
Roth                      $ 6,500               $6,500
Taxable                 $       0               $40,000
Car fund                $      0                $20,000
xtra mtg prin           $3,890              $23,340

============================================
TOTAL 2018 Goal                            149,840

$    2,510  Jan YTD Progress  = 1.7% of goal
$  42,285  Feb YTD Progress  = 30% of goal


« Last Edit: March 06, 2018, 10:22:42 AM by BlueHouse »
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ToughMother

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Re: Save 50k single 100k couple in 2018
« Reply #77 on: March 10, 2018, 08:19:22 AM »
After participating in this challenge the last few years, I was hanging back this year.
I knew I wanted to downsize my job; trade a higher salary for more life-time.
Indeed, I just gave notice at my 100% life-time job for a downsized job with more life-time for me! 
With that downsized job comes a 45% reduction in pay. 
It won't affect my ability to cover expenses but it WILL affect my savings. 
And thus my hanging back. No way I can save $50k/year any more.

But, I've learned I"ll be able to cash out some vacation time at my current salary, so that will help me fill the savings coffers this year.

Without further ado, here are my savings goals, my last year saving $50k or more a year:
457: 24.5K
403b: 24.5K
pension: 9.2K
total: 58.2K
« Last Edit: June 30, 2018, 08:49:23 AM by ToughMother »
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zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #78 on: March 16, 2018, 07:35:58 PM »
Mid-month update:

401k 1: $3,850 / $18,500
Match: $526 / $3,000
401k 2: $0 / $18,500
HSA: $862 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $3,559 / $31,000
============================
Total: $24,797 / $92,900 (27%)

Need2Save

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Re: Save 50k single 100k couple in 2018
« Reply #79 on: March 17, 2018, 06:50:54 AM »
$25,683 / $154,515 -- TOTAL GOAL FOR 2018 
(February is up to 17% of our annual goal)


Looking forward to March! It will be a great month for us income wise so we will pad the investments and pay extra on principal.

March has not dissapointed.  We both received great annual bonuses!
MARCH PROGRESS
$  4,889 / $ 18,500 -- 401k Mrs
$  3,296 / $   6,593 -- 401k Match Mrs (no change until July)
$  6,404 / $ 18,500 -- 401k Mr (a bit extra from bonus)
$  6,379 / $   5,122 -- 401k Match Mr (extra match from bonus plus $5,000 profit sharing)
$  2,539 / $   5,230 -- HSA Mrs
$     210 / $   1,670 -- HSA Mr
$41,275 / $ 60,000 -- Taxable Investments
$  3,900 / $   8,000 -- Other Savings
$14,241 / $ 30,900 -- Extra Principal Payments
$83,133 / $154,515 -- TOTAL GOAL FOR 2018 

We are up to 54% of our saving goals for 2018!  Very fortunate to have great bonuses this year and full profit sharing into the Mr.'s 401k. Feel's great to be on track to exceed our plans for the year.  Things won't be nearly as exciting the next few months.

Arbitrage

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Re: Save 50k single 100k couple in 2018
« Reply #80 on: March 17, 2018, 09:07:23 AM »
Goal: $100k

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

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

Not quite on track for taxable savings yet.  Child care cost reductions coming soon will hopefully help us get there.

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. 
« Last Edit: March 17, 2018, 09:21:07 AM by Arbitrage »

NinetyFour

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Re: Save 50k single 100k couple in 2018
« Reply #81 on: March 17, 2018, 12:40:52 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:                $2,852 (that includes both employee and employer contributions)
403b:                $3,000
457:                 $3,000
mortgage principal:  $1,659
taxable account:    $14,376
max Roth IRA 2017:   $6,500
max Roth IRA 2018:   $6,500

Total so far:       $37,887

Slow&Steady

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Re: Save 50k single 100k couple in 2018
« Reply #82 on: March 19, 2018, 08:07:20 AM »
I have looked past this challenge for the last few years because as a couple we did not even make 100k, so no way we could save 100k.  However, it looks like there are at least a few that joined as a couple that are not able to make the 100k goal either!!

We have a couple hiccups this year that makes our savings rates/abilities even lower than normal.  I am the only one with access to a 401k and I switched jobs, that means that I have lost the ability to contribute to 401k for 30 days and no longer have an HSA option.  I am also due with our 2nd (last) kid in March and will be taking an unpaid maternity leave, meaning no 401k contributions during that time and delayed (until I get back to work) savings for everything else.  So my updates might not happen again (or be unremarkable) until July-ish.  Although I think I should get a couple contributions into the new 401k in March before baby is born, we will see.

I also rounded the goals but the YTD and Remaining will include pennies!

Name Goal / YTD / Remaining      
401k S&S $5500 / $1039.47 / $4460.53       
401k Match $3895 / $1081.47 / $2813.53       
IRA DH $8500 / $3000 / $5500       
HSA   $1900 / $1900 / $0       
529  $1200 / $0 / $1200       
Debt $22600 / $2736.00 / $19864.00       

Total   $43595 / $9756.94 / $33838.06 = 22.38%

linuxhero

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Re: Save 50k single 100k couple in 2018
« Reply #83 on: March 22, 2018, 08:10:26 PM »
March's numbers.

Married; single income; 2 kids

Got a larger than expected bonus this month; all of it went towards the 401k and IRAs.

HSA                   $1225 / $4900
HSA Match                $0 / $2000
401K After Tax       $26230 / $29270
401K Employer Match   $2818 / $7230
401K Pre Tax             $0 / $18500
Roth IRA              $2878 / $5500
Wife Traditional IRA  $2878 / $5500
Mortgage Principal    $2171 / $8834
Taxable Account          $0 / $7000

Total:               $38200 / $88734 (43.05%)

eeho

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Re: Save 50k single 100k couple in 2018
« Reply #84 on: March 22, 2018, 10:24:39 PM »
I'm a late entry but count me in for a single 50k!

So far I'm at:

   PPOR Offset   Parent Loan   IP#4 Loan   TOTAL
January   $1,000.00   $1,646.00   $14.50   $2,660.50
February   $1,000.00   $1,646.00   $110.07   $2,756.07
March   $1,566.00   $969.00   $23.15   $2,558.15
            
TOTAL   $3,566.00   $4,261.00   $147.72   $7,974.72

Trying to stash enough to pack in my office job so I'm not working and studying full time!
« Last Edit: March 22, 2018, 10:35:36 PM by eeho »

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #85 on: March 27, 2018, 09:34:22 AM »
March Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00015,00028,000
Total64,99220,25444,738
31.16% Complete

I have now been informed that the waiting period for joining the 401(k) at my new job is one year and not six months. They are working on changing it so I can contribute this year... But things move slowly around here. I've also realized that my income will make me ineligible to make a full Roth contribution (especially if I can't contribute to the 401(k) this year!), so I'm going to stop contributing to it and move those savings to my taxable account. I should get a little extra money next month from my tax refund, but nothing crazy. It's a little boring just saving into the one bucket now!

BlueHouse

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Re: Save 50k single 100k couple in 2018
« Reply #86 on: March 27, 2018, 10:34:27 AM »
March Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00015,00028,000
Total64,99220,25444,738
31.16% Complete

I have now been informed that the waiting period for joining the 401(k) at my new job is one year and not six months. They are working on changing it so I can contribute this year... But things move slowly around here. I've also realized that my income will make me ineligible to make a full Roth contribution (especially if I can't contribute to the 401(k) this year!), so I'm going to stop contributing to it and move those savings to my taxable account. I should get a little extra money next month from my tax refund, but nothing crazy. It's a little boring just saving into the one bucket now!
I would keep going to the IRA.  You can backdoor all or some into the Roth which is still tax-advantaged.  Better to fill up all of your tax-advantaged space before going to taxable. 
Sometimes nothing can be a real cool hand

2Birds1Stone

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Re: Save 50k single 100k couple in 2018
« Reply #87 on: March 27, 2018, 12:22:13 PM »
We went from DINK's to SINK's last month so this goal is really a bit of a pipe-dream for us right now.

The new goal is to save $50k combined, which should be doable with SO's PT work.

salt cured

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Re: Save 50k single 100k couple in 2018
« Reply #88 on: March 27, 2018, 01:06:04 PM »
SO and I saved $102k last year. For 2018, the goal is $130k total with $100k in tax deferred accounts, $15k in cash, $10k in a taxable account, and $5k to debt.

Despite a tax refund of $4500, our savings rate dipped to 42% in March because of a CSA pre-purchase, vacation booking, and large-ish cash gift to a family member. The gift wasn't something we planned/decided on until recently, so I'm not sure we're going to make our goal of any more. It will come down to whether we can keep home renos under $10k for the rest of year, which seems doubtful right now.

As of end of March:
Tax Deferred:$25k
Taxable:$3k
Cash:$6k
Debt:$2k
Total:$36k

ritz

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Re: Save 50k single 100k couple in 2018
« Reply #89 on: March 28, 2018, 07:18:20 PM »
March Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00015,00028,000
Total64,99220,25444,738
31.16% Complete

I have now been informed that the waiting period for joining the 401(k) at my new job is one year and not six months. They are working on changing it so I can contribute this year... But things move slowly around here. I've also realized that my income will make me ineligible to make a full Roth contribution (especially if I can't contribute to the 401(k) this year!), so I'm going to stop contributing to it and move those savings to my taxable account. I should get a little extra money next month from my tax refund, but nothing crazy. It's a little boring just saving into the one bucket now!
I would keep going to the IRA.  You can backdoor all or some into the Roth which is still tax-advantaged.  Better to fill up all of your tax-advantaged space before going to taxable.

I have about $90K in a rollover IRA and it's my understanding that this would make a backdoor IRA not a very attractive option.

FireHiker

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Re: Save 50k single 100k couple in 2018
« Reply #90 on: March 29, 2018, 09:47:48 AM »
I don't think I remembered to update last month. We spend a TON more than usual in March, some frivolous expenses, some not: a big, unanticipated vet bill didn't help...this will be our last pet I think! Fortunately our savings still ended up being okay: it being a 3 paycheck month, raises going in on today's check, and last year's 2% match hitting (401k; they did away with that going forward), our savings rate is still alright, 47.9% for the month and 43.8% YTD.

YTD:
401k, our contributions: $11,848.81
401k matches: $9,104.32
repayments on 401k loans: $4,452.85
HSA, including matches: $1,907.66
cash: $877.30

Total: $28,190.94

April will likely just see 401k, match, and HSA because we have a trip week after next that will have some bigger than usual expenses. Planning to really up our savings game when we get back from our trip.

zeli2033

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Re: Save 50k single 100k couple in 2018
« Reply #91 on: March 30, 2018, 01:30:07 PM »
End of month update:

401k 1: $4,620 / $18,500
Match: $631 / $3,000
401k 2: $0 / $18,500
HSA: $1,150 / $6,900
2017 Roths: $5,000 / $5,000
2018 Roths: $11,000 / $11,000
Student Loan Debt Paid: $5,056 / $31,000
============================
Total: $27,457 / $92,900 (30%)

McStache

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Re: Save 50k single 100k couple in 2018
« Reply #92 on: March 30, 2018, 07:30:35 PM »
March Update:
Bucket         Current / Goal
401k          $ 10,515 / $ 24,500 (lumping pre-tax and after-tax contributions)
401k Match     $ 1,092 / $ 3,000
Roth IRA       $ 2,050 / $ 5,500
HSA            $ 1,613 / $ 3,450
Brokerage      $ 5,294 / $ 13,550
------------------------------------
Total         $ 20,564 / $ 50,000

January        $ 4,765   9.5%
February      $ 13,972   27.9%
March         $ 20,564   41.1%

rebel_quietude

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Re: Save 50k single 100k couple in 2018
« Reply #93 on: March 31, 2018, 02:40:02 AM »
Last year I saved $40,055.97.  $50k will be a stretch, but the good kind, I hope.

Feb 18 / 2018 Goal:
$6,350 / $50,000 (12.6%)

End of first quarter 2018:
$4,187 / $18,500 401k (23%)
$1,374 / $5,500 Roth (25%)
$4,800 / $21,600 Taxable Brokerage (22%)
$2,408 / $4,500 Cash (54%)

$12,769 / $50,000 (25%)

Chugging along! I think I'm right about where I should be at this point in the year, which is encouraging. Put my tax refund toward cash E-fund, and I'm counting employer contribution to my 401k - first time I have employer match at my work!

Still, scraped about $500 in additional savings over the last quarter by sheer spending discipline. May not make the difference from $40k to $50k, but I'll take it as a win!

eeho

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Re: Save 50k single 100k couple in 2018
« Reply #94 on: April 01, 2018, 04:46:23 AM »
Finished up the month with a total of $8,974.72 saved from 2018 so far. I'll have to lift my game, but it's a good start!

Fomerly known as something

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Re: Save 50k single 100k couple in 2018
« Reply #95 on: April 01, 2018, 06:00:28 AM »
March:

401k:  4893.00/18500
401k match:  1796.13/6000
IRA:  5,500/5,500
Taxable:  6686.01/35,000
House principle:  1352.39/5000
HSA:  $2,500/2,700
HSA pass through:  $187.5/$750


ToughMother

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Re: Save 50k single 100k couple in 2018
« Reply #96 on: April 01, 2018, 07:27:24 PM »
Q1 update:
             GOAL      Q1         %
457:       24.5K     5,000   20.4%
403b:     24.5K   12,000   48.9%
pension:   9.2K     3,415   37.1%
total:     58.2K   20,415   35.1%
« Last Edit: June 30, 2018, 08:50:45 AM by ToughMother »
In English & Latin,
ToughMother.

dreadmoose

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Re: Save 50k single 100k couple in 2018
« Reply #97 on: April 02, 2018, 11:11:10 AM »
I have upgraded my goals for the year, mostly due to less TFSA room and more RRSP contributions this year. They're now sitting at:

$39,415 TFSA
$34,532 RRSP

Date To Date   /  Goal %
Jan 2017 $4,035.22   /  $64,539 6.3%
Feb 2017 $8,027.74   /  $64,539 12.4%
Mar 2017 $12,975.69   /  $73,947 17.5%
Just starting on my FIRE journey, hopefully posting here creates accountability and eventually lowers my very anti-mustachian life habits.

BlueHouse

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Re: Save 50k single 100k couple in 2018
« Reply #98 on: April 02, 2018, 11:48:53 AM »
March Totals:
GoalActualRemaining
401(K)18,5001,76216,738
401(K) Match7057050
Roth IRA2,5002,5000
HSA2882880
Taxable43,00015,00028,000
Total64,99220,25444,738
31.16% Complete

I have now been informed that the waiting period for joining the 401(k) at my new job is one year and not six months. They are working on changing it so I can contribute this year... But things move slowly around here. I've also realized that my income will make me ineligible to make a full Roth contribution (especially if I can't contribute to the 401(k) this year!), so I'm going to stop contributing to it and move those savings to my taxable account. I should get a little extra money next month from my tax refund, but nothing crazy. It's a little boring just saving into the one bucket now!
I would keep going to the IRA.  You can backdoor all or some into the Roth which is still tax-advantaged.  Better to fill up all of your tax-advantaged space before going to taxable.

I have about $90K in a rollover IRA and it's my understanding that this would make a backdoor IRA not a very attractive option.

True.  I had a similar situation and then rolled my IRA into my company 401k, then started a backdoor Roth.  People here showed me exactly how to do it and practically held my hand because I was jittery while doing it.  Well worth the few phone calls it actually took.
Sometimes nothing can be a real cool hand

ACyclist

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Re: Save 50k single 100k couple in 2018
« Reply #99 on: April 07, 2018, 11:01:39 AM »
22000 me
18500 spouse
12000 roths (hit this already)
15000 taxable savings (this is on the hopeful side)
1500 FSA
3600 (our car savings account.  We are going to need a newer vehicle pretty soon.  We are pre-saving for it)
3800 401a
76K  Holy smokes.  This is a shocking number for our income level.  This gives me hope that we can live on a small number when we quit our jobs in about 5 years.

I don't make enough to max the 403b.  My income is around 31K and I have requirements like taxes, ins. and union dues).  My checks end up being about $100 take home.  We live off my spouse's salary.