Great job on the savings rate! You and I both need to get it in gear on expanding our Spanish, lol.
Thank you! And you're right, lol. I plan on taking a vacation at the end of June to Latin America, so it would definitely come in handy then.
1. Refinance my student loans to around 4% from 6.8% and make minimum payments. Refinanced with Sofi at 3.8% but its adjustable.
2. Max out my IRA contribution. 2014 is maxed and 2015 is pending
3. Max out my 401(k) contribution. Been contributing the max since February 1st, will have to make up 1500 for January though
4. Get a good deal on new suits for work. Got a sweet Jos A Banks suit for $70 from their website, its retail is $695, but its JAB so it generally sells for $350, but still!
5. Get a raise. Annual reviews are coming up this month so i'm still hoping for this, I did get a 5k COL raise for moving to the new office but this was negotiated for months ago when I accepted an offer. Good thing about it is that its actually cheaper for me to move because our house is paid for and I don't have to pay additional rent near our principal office. I want a 7k raise but we will see what happens.
6. Move back home to be near my wife. Been here for a week
7. Open a taxable account and throw 10k at it.
8. Pay my brother back 14k he loaned me.
9. Cut back on spending on eating out. Definitely have done this so far. Been cooking every meal, eating better, and saving money
10. Go on 1-2 short cruises.
11. Start using Rosetta Stone to refresh and expand my Spanish.
12. Maybe start planning on growing my family if the wife is down for it.
This will be very difficult to do on my salary, but if I can get by on spending 10k on food and clothes for the next year I will be good.
Doing better than I had expected.
One of the helpful things I have done is that I created a excel spreadsheet that tracks my income and expenses. I realized I have a little bit more money per month left over after 401k/ira/taxes/and expenses so I've been thinking of other investments.
Recently have been thinking about deferring #7 & 8 above (permission from my brother) in order to buy an investment property. Also been thinking about selling my 2010 Dodge Challenger and getting a 2010 Toyota Prius instead as I will be driving a lot more now that I moved and the gas savings would be nice (and I care about the environment).
This was also a reminder of where I'm slacking. I need to start doing the Rosetta Stone and planning for a vacation. Throwing down the gauntlet, I will plan a small vacation after I get my annual review regardless of the outcome!
Excellent job already maximizing your IRA! Also an incredible deal on that suit from the sounds of it. You have some set some very impressive goals for yourself this year. It looks like you are well on your way!
It's kind of ironic, but our car situations have just reversed, lol. I just sold my 2011 Hyundai Elantra (a very fuel efficient and practical commuter car) for a 2010 Dodge Charger. What a fun ride it is.
My DH wanted me to do this.
1) $5,500 into 2015 IRA contribution - DONE.
2) $18k into 401K - 5 paychecks down (at $705/ea.) and continuing.
3) Travel/Vacation - Pending the DH...
4) Cook more - Ongoing and doing.
5) Lose 6 pounds - LOL ongoing but enjoying my current weight.
6) Pull-up - About 15 lbs away!
7) Handstand - Still practicing here and there.
8) Spending less and wiser - Yes, but also balancing enjoying my life which can be subjective to my overall goal. Pretty much shoes, eating out (with friends or while on vacation), etc.
9) Call my grandmothers once a week - Ongoing and doing at least every other week if not weekly.
Congrats on already maximizing your 2015 IRA! It looks like we're both contributing at about the same rate to our 401(k)'s as well, which should have us both maxed by the end of the year. You're doing great! Keep it up!
Pretty much all of your goals are aligned with mine. I especially agree with number 8. I think living a balanced life is so important. Plan for tomorrow, but live for today too. Be smart with your money, but don't completely deprive yourself either. Enjoy your time and your life. It's all about aligning our spending with our goals, values, and the things that matter most to us. Here's to conquering the rest of our lists!