Author Topic: 2022 Savings Goals (Read 14275 times)

rebel_quietude · « **on:** December 31, 2021, 11:33:15 AM »

Happy new year, everyone!

I'm a bit disappointed in my 2021 saving numbers, for the first year since finding MMM in 2012. So, I thought we might get a head start on the 2022 version of the, "50k single or 100k couple," thread for a bit of optimistic cheer. If this already exists somewhere, mods please delete!

Tentative goal, possibly adjusted when I finish the math this weekend: $62,000 in CY 2022. Stretch, $65,000.

Who's up next?

ixtap · « **Reply #1 on:** December 31, 2021, 12:15:46 PM »

We have not a clue for 2022. We have set DH's 401k to front load, but anything beyond that depends on how the plan to downshift works. Megacorp says they want him, but are kind of dragging their feet on pinning down the details.

JAYSLOL · « **Reply #2 on:** December 31, 2021, 12:36:22 PM »

I didn’t actually calculate exactly what I saved in 2021, I could probably figure it out, but I only tracked NW increase, but I’m guessing somewhere around $25k was actually contributed to accounts. 2022 should be stronger, and I’m setting a goal to save $100/day, so $36.5k for the year, which will put me at ~50% savings rate if I can do it.

rebel_quietude · « **Reply #3 on:** December 31, 2021, 02:45:01 PM »

Awesome, @JAYSLOL ! And @ixtap - I think once you're downshifting, it means you've won. :D

zeli2033 · « **Reply #4 on:** December 31, 2021, 09:33:43 PM »

I love these threads! Here's what we're going to shoot for in 2022:

401k 1: $0 / $20,500
Match 1: $0 / $ 4,050
401k 2: $0 / $20,500
Match 2: $0 / $4,833
HSA: $0 / $7,200
2022 IRAs: $0 / $12,000
Cash (Efund): $0 / $16,000
HELOC Payoff: $0 / $52,000
Brokerage: $0 / $10,000
====================
Total: $0 / $145,083 (0.0%)

On the one hand, I'm pumped to see if we can achieve this - it's a big number for us. On the other hand, I feel sickly giving up our hard earned cash to that stupid HELOC instead of investing it. But the interest rate is too high for us to let it ride for too long...even after doing the math, it's not worth it for us. Time will tell if we feel the same way mid-year. And we're hoping to finally open a taxable brokerage this year. Won't get much in it but it will be open!

samanil · « **Reply #5 on:** December 31, 2021, 11:14:10 PM »

With my modest income, which I earn through difficult manual labor, I hope to--

Max 401k
Max IRA
Put 6k in taxable

...in 10.5 months, and then leave the country for the final 6 weeks of the year. Morocco sounds nice.

If I go past those goals and keep stache-ing into next winter (shitty Seattle windter), there is a risk that I will start to crumble psychologically, which would be counter productive.

alcon835 · « **Reply #6 on:** January 01, 2022, 09:52:53 AM »

New year, new goals!

For 2022, I'm shooting for the full $100,000 couples goal. We're two players, but I'm the only one with income, so we'll see... we came really close last year. There are a few big purchases on the horizon which might hold us back from hitting $100k, but I'm going in to the year optimistic.

One thing I'm worried about is Roth IRA contributions. I am on the boarder of earning too much money to be eligible for Roth contributions. I think between the HSA and 401K my MAGI will squeak by, but I'm not sure. I'm going to hold my Roth contributions in savings for a bit until I can determine whether or not I'm eligible.

Good luck to all! It's great to see so many folks returning from last year :)

Bucket	Goal	Current
401K	$20,500	$0
Match	$5,000	$0
Roth 1	$6,000	$0
Roth 2	$6,000	$0
HSA	$7,300	$0
Brokerage	$20,000	$0
Dividends	$500	$0
Crypto Currency	$6,200	$0
Mortgage	$19,000	$0
Bonds	$5,000	$0
Savings	$4,500	$0
Total	$100,000	$0
*Percentage*	100%	0%

Serendip · « **Reply #7 on:** January 01, 2022, 10:02:14 AM »

Quote from: samanil on December 31, 2021, 11:14:10 PM

With my modest income, which I earn through difficult manual labor, I hope to--

I’m with you @samanil also earn a fairly modest income (compared to many on here) and have a physical job so I also cannot load too much without either injury or burnout.
My goal is $22,000 saved in any way/shape or form—huge stretch goal would be $30,000.
Best wishes to all in accomplishing whatever you are aiming for!

Finwiz · « **Reply #8 on:** January 01, 2022, 10:49:35 AM »

Excited to join this thread! Here's our 2022 savings goals - borrowing @zeli2033 's format:

401k 1: $0 / $20,500
Match 1: $0 / $9,000
401k 2: $0 / $20,500
Match 2: $0 / $6,800
HSA: $0 / $7,200
2022 IRAs: $0 / $12,000
Mortgage Principal: $0 / $15,000
Taxable Brokerage: $0 / $60,000
====================
Total: $0 / $151,000 (0.0%)

Taxable goal is definitely lofty, thinking more likely going to be ~48,000 but have to put stretch goals in place to keep on target overall.

McStache · « **Reply #9 on:** January 01, 2022, 12:45:15 PM »

I'm in for another year!

I'm taking the second half of the year (ish) off from work, so this race will be a bit different than past years. I'm shooting to save $60k before I stop working for the year, then my anticipated spending for the second half of the year is a bit north of $10k (though it's a bit of a wild guess at this point). So, if all goes according to the current plan, I might net out to $50k at the end of the year. However, there's a lot more handwaving than usual this year with the unknowns of not working.

Goal:
Bucket Current / Goal
401k $ 0 / $ 20,500
401k Match $ 0 / $ 3,750
Roth IRA $ 0 / $ 6,000
SEP IRA $ 0 / $ 4,850
HSA $ 0 / $ 3,650
Taxable $ 0 / $ 21,250
------------------------------------
Total $ 0 / $ 60,000

samanil · « **Reply #10 on:** January 01, 2022, 06:48:32 PM »

Quote from: Serendip on January 01, 2022, 10:02:14 AM

Quote from: samanil on December 31, 2021, 11:14:10 PM
With my modest income, which I earn through difficult manual labor, I hope to--

I’m with you @samanil also earn a fairly modest income (compared to many on here) and have a physical job so I also cannot load too much without either injury or burnout.
My goal is $22,000 saved in any way/shape or form—huge stretch goal would be $30,000.
Best wishes to all in accomplishing whatever you are aiming for!

Nice, what work do you do? 22k in a year is good for anyone, let alone someone with a modest income!

ToughMother · « **Reply #11 on:** January 02, 2022, 09:00:43 AM »

Hi Savings Friends,

Another year for this type of gauntlet, but hoping this is the year I STOP. Aiming for RE in July but vacation/sick cash outs should cover my two primary retirement savings accounts this year.

2022 Savings Goals

Bucket Goal | Actual
TSP $ 20,500 | $
457 $ 27,000 | $
TIAA $ 27,000 | $
Pension $ 7,400 | $
Roth 1 $ 6,000 | $
Roth 2 $ 7,000 | $
-----------------------------------------
Total $ 94,900 | $
Progress | %

Virtus3 · « **Reply #12 on:** January 02, 2022, 10:06:46 AM »

Joining the yearly savings gauntlet for the first time. I'm fairly confident in the below numbers with the only truly stretch goal being the $5,000 in a brokerage account. Let's see what happens; good luck to everyone!

Account	Goal	Current
401K	$20,500	$0
Match	$3,850	$0
403b	$6,000	$0
Match	$2,500	$0
Roth 1	$6,000	$0
Roth 2 ('21)	$5,000	$0
Roth 2 ('22)	$6,000	$0
HSA	$3,650	$0
529 1	$2,500	$0
529 2	$2,500	$0
Brokerage	$5,000	$0
Total	$63,500	$0
*Percentage*	100%	0%

Serendip · « **Reply #13 on:** January 02, 2022, 01:43:10 PM »

Quote from: samanil on January 01, 2022, 06:48:32 PM

Quote from: Serendip on January 01, 2022, 10:02:14 AM
Quote from: samanil on December 31, 2021, 11:14:10 PM

Nice, what work do you do? 22k in a year is good for anyone, let alone someone with a modest income!

@samanil —I work as a massage therapist, it’s a great job but is physical work so lots of people burn themselves out or get injuries if they work too much. In a way it forced me into a sustainable life/work balance even if I don’t make a high income. I try to keep my other costs of living pretty low 😊

spaghetti1awk · « **Reply #14 on:** January 02, 2022, 03:30:58 PM »

Joining in with my savings goals for 2022

401k 20,500
match 5,025
Roth IRA 6,000
______
total 31,525

if I hit it, this will be a 47% savings rate.

oneday · « **Reply #15 on:** January 02, 2022, 10:00:40 PM »

@ToughMother may I use your format? It is the clearest to my eyes. If that's not cool, I'll edit this post & replace it.

@rebel_quietude there is a similar thread: https://forum.mrmoneymustache.com/share-your-badassity/savings-for-2022-choose-your-own-adventure!/msg2951865/#msg2951865
What do you think of merging the two?

For the time being, I'm going to post in both threads, as the reporting formats are different.

Bucket Goal | Actual
401(k) $ 20,500 | $
Match $ 3,000 | $
Roth $ 6,000 | $
Taxable $ 10,500 | $
-----------------------------------------
Total $ 40,000 | $
Progress | %

Footnote: have not yet settled on the goal for taxable, so this may be revised at some point.

ToughMother · « **Reply #16 on:** January 03, 2022, 07:52:48 PM »

Quote from: oneday on January 02, 2022, 10:00:40 PM

@ToughMother may I use your format? It is the clearest to my eyes. If that's not cool, I'll edit this post & replace it.

Totally cool, and I'm sure I borrowed it from another MMM'er. Good luck with your 2022 savings!!

oneday · « **Reply #17 on:** January 04, 2022, 05:03:16 PM »

Quote from: ToughMother on January 03, 2022, 07:52:48 PM

Quote from: oneday on January 02, 2022, 10:00:40 PM
@ToughMother may I use your format? It is the clearest to my eyes. If that's not cool, I'll edit this post & replace it.

Totally cool, and I'm sure I borrowed it from another MMM'er. Good luck with your 2022 savings!!

Alright, thanks! Good luck to you, too!

MyAlterEgoIsTaller · « **Reply #18 on:** January 04, 2022, 08:16:12 PM »

Goals:

401k: 27000
Match: 4000
HSA: 4650
Roth: 7000
Mortgage Principal: 8700
Taxable: 554 (?)

Total: 51,904

SaucyAussie · « **Reply #19 on:** January 05, 2022, 08:40:48 AM »

I'm going to change things up this year to maximize flexibility. I plan to frontload the taxable account and do away with the Roth altogether. That plan could change at any time!

401k 20,500.0
401k catch-up 6,500.0
401k match 12,000.0
Taxable 37,000.0
Roth 0.0
H.S.A. 3,000.0
Cash 1,000.0
Total 80,000.0

trc4897 · « **Reply #20 on:** January 06, 2022, 09:24:31 AM »

Happy to join again this year! This would be slightly less savings than last year, but we have some big expenses expected (new roof, new hot water heater, etc.). Perks of an aging house!

Bucket	Goal	Current
401K #1	$20,500	$0
Match #1	$4,564	$0
401K #2	$20,500	$0
Match #2	$6,880	$0
Roth 1	$6,000	$0
Roth 2	$6,000	$0
Brokerage	$3,000	$0
Mega Backdoor Roth	$31,000	$0
Mortgage	$9,000	$0
Total	$114,744	$0
*Percentage*	100%	0%

trc4897 · « **Reply #21 on:** January 06, 2022, 09:27:50 AM »

Quote from: McStache on January 01, 2022, 12:45:15 PM

I'm in for another year!

I'm taking the second half of the year (ish) off from work, so this race will be a bit different than past years. I'm shooting to save $60k before I stop working for the year, then my anticipated spending for the second half of the year is a bit north of $10k (though it's a bit of a wild guess at this point). So, if all goes according to the current plan, I might net out to $50k at the end of the year. However, there's a lot more handwaving than usual this year with the unknowns of not working.

Goal:
Bucket Current / Goal
401k $ 0 / $ 20,500
401k Match $ 0 / $ 3,750
Roth IRA $ 0 / $ 6,000
SEP IRA $ 0 / $ 4,850
HSA $ 0 / $ 3,650
Taxable $ 0 / $ 21,250
------------------------------------
Total $ 0 / $ 60,000

I see you have a SEP IRA as well as your 401k, so assuming you have a side hustle? What do you do, if you don't mind me asking? (I started a side business last year, and am debating opening a SEP IRA this year to help offset some taxes.)

TyGuy · « **Reply #22 on:** January 06, 2022, 11:38:35 AM »

I will add my numbers here soon! I'm excited to track my progress here again this year

McStache · « **Reply #23 on:** January 07, 2022, 05:39:01 PM »

Quote from: trc4897 on January 06, 2022, 09:27:50 AM

Quote from: McStache on January 01, 2022, 12:45:15 PM
I'm in for another year!

I'm taking the second half of the year (ish) off from work, so this race will be a bit different than past years. I'm shooting to save $60k before I stop working for the year, then my anticipated spending for the second half of the year is a bit north of $10k (though it's a bit of a wild guess at this point). So, if all goes according to the current plan, I might net out to $50k at the end of the year. However, there's a lot more handwaving than usual this year with the unknowns of not working.

Goal:
Bucket Current / Goal
401k $ 0 / $ 20,500
401k Match $ 0 / $ 3,750
Roth IRA $ 0 / $ 6,000
SEP IRA $ 0 / $ 4,850
HSA $ 0 / $ 3,650
Taxable $ 0 / $ 21,250
------------------------------------
Total $ 0 / $ 60,000

I see you have a SEP IRA as well as your 401k, so assuming you have a side hustle? What do you do, if you don't mind me asking? (I started a side business last year, and am debating opening a SEP IRA this year to help offset some taxes.)

I'm a software engineer. I have a full time W-2 job, then do some evenings/weekends 1099 consulting as well. The SEP IRA was really easy to set up and creates some more tax advantaged space/decreases the tax bite on that income. 2021 was my first year with one, so haven't filed taxes yet, but based on my experience so far I'd recommend it. I considered a solo401k, but given I have access to a regular 401k, I concluded it would be rather more hassle for limited/no gain over the SEP.

getsorted · « **Reply #24 on:** January 13, 2022, 07:04:27 PM »

My goal is to save $15,000 in 2022, not including the 5% I am saving in my 401(k). I'm just a person who is uncomfortable without a large cash reserve, and I have a lot of potential high expenses-- high-deductible insurance, a 39-year-old furnace, fixer-upper house, a high-mileage older car. Once I hit my goal, I'm cranking my 401(k) savings up to 15%.

trc4897 · « **Reply #25 on:** January 14, 2022, 11:00:25 AM »

Quote from: McStache on January 07, 2022, 05:39:01 PM

Quote from: trc4897 on January 06, 2022, 09:27:50 AM
Quote from: McStache on January 01, 2022, 12:45:15 PM
I'm in for another year!

I'm taking the second half of the year (ish) off from work, so this race will be a bit different than past years. I'm shooting to save $60k before I stop working for the year, then my anticipated spending for the second half of the year is a bit north of $10k (though it's a bit of a wild guess at this point). So, if all goes according to the current plan, I might net out to $50k at the end of the year. However, there's a lot more handwaving than usual this year with the unknowns of not working.

Goal:
Bucket Current / Goal
401k $ 0 / $ 20,500
401k Match $ 0 / $ 3,750
Roth IRA $ 0 / $ 6,000
SEP IRA $ 0 / $ 4,850
HSA $ 0 / $ 3,650
Taxable $ 0 / $ 21,250
------------------------------------
Total $ 0 / $ 60,000

I see you have a SEP IRA as well as your 401k, so assuming you have a side hustle? What do you do, if you don't mind me asking? (I started a side business last year, and am debating opening a SEP IRA this year to help offset some taxes.)

I'm a software engineer. I have a full time W-2 job, then do some evenings/weekends 1099 consulting as well. The SEP IRA was really easy to set up and creates some more tax advantaged space/decreases the tax bite on that income. 2021 was my first year with one, so haven't filed taxes yet, but based on my experience so far I'd recommend it. I considered a solo401k, but given I have access to a regular 401k, I concluded it would be rather more hassle for limited/no gain over the SEP.

Thanks for the info! I think I'll probably open one this year

rebel_quietude · « **Reply #26 on:** January 15, 2022, 06:07:02 AM »

It's awesome to see everyone's goals!!

@sadiesortsitout , makes sense to me. Slow and steady! @McStache , that's an impressive goal, particularly for half a year of work. I hope it goes well! @trc4897 , incredible! Gotta take advantage of that Mega Roth before the laws change, if they do. @oneday , glad to see you here! I'll admit I'm not sure how to merge threads without deleting posts at this point. I need to investigate . . . @ToughMother , right up until the finish line! Congratulations on your RE this year, and I'm wishing you fair winds and high markets as you wrap up your last working year.

I don't think that was everyone, so apologies to those I missed. I'm glad you're here and looking forward to crushing this gauntlet with you this year!

oneday · « **Reply #27 on:** January 15, 2022, 05:24:58 PM »

@rebel_quietude good to see you too! Hope you blow your savings goals out of the water this year.

The OP of the other thread declined to merge.

pasadenafr · « **Reply #28 on:** January 17, 2022, 08:50:34 PM »

Is this the official thread for 2022?

I blew my goals out of the water in 2021, but it was a particularly good year on the commission / bonus front (and the RSU front) and I don't expect this year to be nearly as good. I'll still set the bar higher than last year's original goal, because that's where the fun is at. I'm a single player, but going for the $100k challenge. My actual goal is higher than that but anything below $100k isn't an option unless I lose my job.

So here goes:

Bucket Goal Current
--------------------------------------
401k $20,500.00 $4,254.79 - Should max it out by March. The first half of the year means very, very, almost non-existent paychecks, but I love the challenge.
Roth 1 $30,250.00 $0.00
Brokerage $50,000.00 ($1,135.00) - Hmmm. Starting the new year on the right path, are we? lol.
401k Match $10,250.00 $2,127.40
Roth 2 $6,000.00 $0.00
HSA $3,650.00 $110.41
Savings $0.00 $0.00
--------------------------------------
Total $120,650.00 $5,357.60

Progress 4.28%

[not started] - [on track] - [behind] - [completed] - [exceeded]

Took out $1,135 from my brokerage account to pay for vacation overspending and super expensive birthday gift for my Mom. No regrets!

alcon835 · « **Reply #29 on:** January 18, 2022, 06:26:32 PM »

Quote from: pasadenafr on January 17, 2022, 08:50:34 PM

Is this the official thread for 2022?

Yes it sure is! Welcome to the new thread!

And HUGE congratulations on blow your 2021 goals out of the water!!

Dutch Comfort · « **Reply #30 on:** January 19, 2022, 09:45:53 AM »

Let's do this with our very modest income.....

2022 goals
Mortgage: EUR 10,000
Pre-tax pension savings: EUR 5,000
Post-tax investments: EUR 5,000
Dedicated cash savings (travel/maintenance): EUR 5,000

The company pension savings are not included in here. This is what we need to do from our net income and gives a 50% savings rate.
Yes, there is an amount for dedicated cash savings, since we are hoping to be able to travel in 2023 to China for a couple of weeks.

Let's go!!!!!

alcon835 · « **Reply #31 on:** January 20, 2022, 06:00:05 AM »

The percentage goal for me to be on track for January is 8.33%.

Bucket	Goal	Current
401K	$20,500	$2,052.33
Match	$5,000	$466.43
Roth 1	$6,000	$0.00
Roth 2	$6,000	$0.00
HSA	$7,300	$296.29
Brokerage	$20,000	$2,074.03
Dividends	$500	$15.03
Crypto Currency	$6,200	$296.29
Mortgage	$19,000	$1,600.00
Bonds	$5,000	$0.00
Savings	$4,500	$0.00
Total	$100,000	$6,800.40
*Percentage*	100%	6.80% (-1.53% to goal)

Update:
A pretty good start, but behind where I should be. One big miss above is my Roth IRAs. I am holding onto my Roth Contributions outside of this tracker through the first part of the year because my income may be over the limit in 2022. I'll have a pretty good idea of that by the end of Q1, I think, so I'm just going to park the funds into my HYSA until I'm more confident.

What sucks is, I'm missing out on the current market prices. VTSAX is on sale and my HYSA is sitting at a pathetic 0.40% interest. The things we mustachians must suffer through!

Finwiz · « **Reply #32 on:** January 20, 2022, 07:27:32 PM »

@alcon835 if that’s a concern, why not just make backdoor contributions?

getsorted · « **Reply #33 on:** January 21, 2022, 08:33:57 AM »

Quote from: alcon835 on January 20, 2022, 06:00:05 AM

I think, so I'm just going to park the funds into my HYSA until I'm more confident.

What sucks is, I'm missing out on the current market prices. VTSAX is on sale

Buy VTSAX in a non-qualified brokerage account. If your income is under the limit, transfer some shares in-kind as a Roth contribution. If it's not, you've got non-qualified shares of VTSAX making money for you. No need to suffer!

alcon835 · « **Reply #34 on:** January 25, 2022, 05:22:39 PM »

Quote from: Finwiz on January 20, 2022, 07:27:32 PM

@alcon835 if that’s a concern, why not just make backdoor contributions?

I don't have access to Backdoor contributions via my 401K, unfortunately. I've asked for it...

SaucyAussie · « **Reply #35 on:** January 27, 2022, 08:52:07 AM »

January Update - slow and steady start.

401k 681.0 20,500.0 3.3
Catchup 0.0 6,500.0 0.0
Match 828.0 12,000.0 6.9
Taxable 3,000.0 37,000.0 8.1
Roth - - -
H.S.A. 0.0 3,000.0 0.0
Cash 0.0 1,000.0 0.0
Total 4,509.0 80,000.0 5.6

---------------------------------------------

JAN 4,509.0 4,509.0 5.6

ixtap · « **Reply #36 on:** January 27, 2022, 09:08:33 AM »

Quote from: alcon835 on January 25, 2022, 05:22:39 PM

Quote from: Finwiz on January 20, 2022, 07:27:32 PM
@alcon835 if that’s a concern, why not just make backdoor contributions?

I don't have access to Backdoor contributions via my 401K, unfortunately. I've asked for it...

You are thinking of the mega backdoor. The suggestion was for the backdoor where you put non deductible contributions into your tIRA and convert to Roth.

getsorted · « **Reply #37 on:** January 27, 2022, 01:27:14 PM »

Well, I have overshot my January spending goal ($1600) by about $1,000, cutting substantially into my savings plan.

-Cat needed $600 in veterinary care.
-My salvage-title car needed a substantial radiator repair. $222
-Car also needed a new battery. $175. I should have done this myself, but it was well below freezing, I don't have a garage, and it was already in the shop, so...
-I had substantial water damage to the kitchen floor. Located an exact match for my vintage parquet tiles and decided to buy the whole lot at $180-- more than I need for this project but enough to have some reserve in case of future damage, and to replace flooring in the adjacent room, which was already on the upgrade list for this house.

What a month! I was able to take on some freelance work that will cover about half of the extra expenses.

Everyone cross your fingers for a better February.

Dutch Comfort · « **Reply #38 on:** January 28, 2022, 12:20:44 AM »

2022 goals
Mortgage: EUR 10,000 - January 1,500
Pre-tax pension savings: EUR 5,000 - January 300
Post-tax investments: EUR 5,000 - January 250
Dedicated cash savings (travel/maintenance): EUR 5,000 - January -50

Total: Goal 25,000 - status end of January 2,000

I think January went smoothly. First month is in and it is OK-ish. I took a little from the dedicated savings to add to the mortgage to get to a nice round number to pay extra in addition to the regular downpayment.
Up to next month......

alcon835 · « **Reply #39 on:** January 28, 2022, 05:11:24 PM »

Quote from: sadiesortsitout on January 21, 2022, 08:33:57 AM

Quote from: alcon835 on January 20, 2022, 06:00:05 AM
I think, so I'm just going to park the funds into my HYSA until I'm more confident.

What sucks is, I'm missing out on the current market prices. VTSAX is on sale

Buy VTSAX in a non-qualified brokerage account. If your income is under the limit, transfer some shares in-kind as a Roth contribution. If it's not, you've got non-qualified shares of VTSAX making money for you. No need to suffer!

Hrm, that's a good idea. I will probably do exactly that!

oneday · « **Reply #40 on:** January 28, 2022, 11:06:19 PM »

SotI · « **Reply #41 on:** January 28, 2022, 11:28:19 PM »

I will join, again, but with less ambitious goal since my phase-out work contact means a slightly reduced income this year and rising/inflationary cost of living.

So, aiming at 50k overall net saving goal this year as a new baseline. Not sure yet how to break it down as I am still fine-tuning my budget for 2022 after getting the new cost estimates on annual bills.
But definitely joining the thread.

zeli2033 · « **Reply #42 on:** January 29, 2022, 02:19:20 PM »

January Update

401k 1: $1,812 / $20,500
Match 1: $0 / $ 4,050
401k 2: $3,912 / $20,500
Match 2: $782 / $4,833
HSA: $608 / $7,200
2022 IRAs: $1,000 / $12,000
Cash (Efund): $9,957 / $16,000
HELOC Payoff: $5,013 / $52,000
Taxable: $3,000 / $10,000
====================
Total: $26,084 / $145,083 (18.0%)

--------------------------------------------
Off to a great start this month! DH got an unanticipated bonus that helped us put some additional funds away so we're well on track to hit and possibly exceed our goal for the year.

Month	Saved	Total	Progress
January	$26,084	$26,084	18.0%

Virtus3 · « **Reply #43 on:** January 31, 2022, 08:12:50 AM »

January update:

Account	Goal	Current
401K	$20,500	$1,707
Match	$3,850	$320
403b	$6,000	$471
Match	$2,500	$235
Roth 1	$6,000	$0
Roth 2 ('21)	$5,000	$1,770
Roth 2 ('22)	$6,000	$0
HSA	$3,650	$304
529 1	$2,500	$200
529 2	$2,500	$200
Brokerage	$5,000	$0
Cash	$0	$500
Total	$63,500	$5,707
*Percentage*	100%	9%

pasadenafr · « **Reply #44 on:** January 31, 2022, 10:34:26 AM »

Alright then, the first month of the year is in the bag!

Bucket Goal Current
--------------------------------------
401k $20,500.00 $10,515.81 - Should max it out by March. The first half of the year means very, very, almost non-existent paychecks, but I love the challenge.
Roth 1 $30,250.00 $0.00
Brokerage $50,000.00 ($1,135.00)
401k Match $10,250.00 $5,527.91
Roth 2 $6,000.00 $0.00
HSA $3,650.00 $720.82
Savings $0.00 $0.00
--------------------------------------
Total $120,650.00 $15,629.54

Progress 12.27%

[not started] - [on track] - [behind] - [completed] - [exceeded]

Got my first quarterly bonus, most of it went in my 401(k). Another almost empty paycheck. Excel says that I will be short by about $1,250 in March unless I sell some stocks from my fun money account. And that, my friends, is because I invested too much last year and forgot to save some money for the monthly budget while I front-load my retirement accounts.

I haven't paid back the ($1,135.00) I took from my brokerage account. Honestly I don't foresee being able to do that until the second half of the year. But hey, still no regrets :)

rebel_quietude · « **Reply #45 on:** January 31, 2022, 12:09:32 PM »

Wow. Good job, everyone!

Thus far:

This month Year Goal
TSP Contributions     $2,131 / $25,569.48 (Includes match)
Roth Contributions     $500 / $6,000.00
Brokerage Contributions   $2,600 / $30,100.00
Total $5,321 / $61,669

On pace!

McStache · « **Reply #46 on:** January 31, 2022, 06:28:50 PM »

Goal:
Bucket Current / Goal
401k $ 4,983 / $20,500
401k Match $ 767 / $ 3,750
Roth IRA $ 0 / $ 6,000
SEP IRA $ 970 / $ 4,850
HSA $ 763 / $ 3,650
Taxable $ 4,826 / $21,250
------------------------------------
Total $12,308 / $60,000

% to Goal:
January 20.5%

TyGuy · « **Reply #47 on:** February 07, 2022, 10:34:56 AM »

I was ~$5,000 short of the 50k target in 2021, I believe I can make it all the way this year!

| 401k |R-IRA (2022)| Brokerage | Savings | TOTAL |
GOAL | $ 20,500 | $ 6,000 | $18,500 | $5,000 | $ 50,000 | PROGRESS |

JAN | $ 2,055 | $ 500 | $ 100 | $ 0 | $ 2,655 | % 5.31 |

FEB | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | % 0.0 |

YTD | $ 3,146 | $ 500 | $ 100 | $ 0 | $ 2,655 | % 5.31 |

Finwiz · « **Reply #48 on:** February 18, 2022, 08:15:51 PM »

Status check - I just got a raise so 401k match 1 goes up accordingly. Think we may need to bump up our taxable goal... after we tackle a few upcoming expenses, we should be able to knock out a big lump sum to that account. Might need to up that goal to $90,000 - we'll see.

401k 1: $6,606 / $20,500 (32.2%)
Match 1: $2,895 / $9,875 (29.3%)
401k 2: $3,668 / $20,500 (13.8%)
Match 2: $748 / $6,800 (11.0%)
HSA: $1,108 / $7,200 (15.4%)
2022 IRAs: $12,000 / $12,000 (100.0%)
Mortgage Principal: $3,639 / $15,000 (24.3%)
Taxable Brokerage: $0 / $60,000 (0.0%)
====================
Total: $30,664 / $151,875 (20.2%)

alcon835 · « **Reply #49 on:** February 21, 2022, 04:19:26 PM »

Quote from: Finwiz on February 18, 2022, 08:15:51 PM

Status check - I just got a raise so 401k match 1 goes up accordingly. Think we may need to bump up our taxable goal...

I just got a raise myself. I'll tell you what I do when this happens - I leave my goals the same and simply contribute more. For me, seeing my number go above 100% is a big part of the fun of saving year-over-year.

News:

Author Topic: 2022 Savings Goals (Read 14275 times)