Author Topic: Track your 2024 Savings Goals and Progress!  (Read 13484 times)

oneday

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Re: Track your 2024 Savings Goals and Progress!
« Reply #50 on: March 28, 2024, 07:43:49 PM »
Next month the employer match should hit. Fun to fund a bucket so early in the year!
Congrats @ToughMother on your FIRE! That's awesome!



Bucket         Goal | Actual
401(k)     $ 23,000 | $ 9,662.90
Match      $  3,000 | $ 0
Roth       $  6,000 | $ 4,010.00
Taxable    $ 21,000 | $ 1,700.00
-----------------------------------------
Total      $ 53,000 | $ 15,372.90
Progress            |   29.0%

Turtle

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Re: Track your 2024 Savings Goals and Progress!
« Reply #51 on: March 29, 2024, 10:11:58 AM »



Bucket                       401k                Employer Match                HSA Regular                HSA Catch Up               ESPP               
Goal$30,500$6,000$4,150$1,000$10,000
January 2024$1,653.06$663.26$1,766.66$83.34$826.54
End of Feb 2024$3,306.12$1,076.53$1,983.32$166.68$1640.50
End of March 2024$9,424.88$2,194.32$2,199.98$250.02$3,062.14


Bonus hit this month, plus a three payday month = bigger contributions this month vs last month.
« Last Edit: May 01, 2024, 05:47:57 AM by Turtle »

McStache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #52 on: March 29, 2024, 02:22:03 PM »
March update:
Bucket         Current / Goal

401k          $  7,500 / $ 23,000
401k Match    $  2,000 / $  8,000
Taxable       $ 25,506 / $ 99,000
------------------------------------
Total         $ 35,006 / $130,000

Annual Savings Rate: 83.2%

% to Goal:
January       7.5%
February     18.9%
March        26.9%


An on-pace month for March. I got a small bonus and decent raise that will show up next month - these will make the current goal likely quite easy if I stick around my current job. But that's still an if, so I'll leave the goal as is for now and see where life takes me.

TyGuy

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Re: Track your 2024 Savings Goals and Progress!
« Reply #53 on: March 30, 2024, 08:55:07 AM »
Q1 update: FIRE'd! With the vacation payout, I was able to max out the 457 and put a chunk towards some upcoming expenses noted above. Going forward, I'll be updating the TSP since spouse is still working, and if I pick up some odd jobs/PT work or we have a low expense month, hopefully we'll have a little more to toss into the CASH bucket. 

Congratulations @ToughMother I hope your first year of retirement is a joy!

ToughMother

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Re: Track your 2024 Savings Goals and Progress!
« Reply #54 on: April 01, 2024, 08:22:51 AM »
Thanks so much for the good wishes, @oneday and @TyGuy !! So far, it has been a fun month of travel and women's college hoops. We live about 1.5 hrs from one of the venues, and went to some amazing games.

Next up, figuring out what "real retirement life" looks like! (And acclimating to no more biweekly paycheck - EGADS!)

TyGuy

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Re: Track your 2024 Savings Goals and Progress!
« Reply #55 on: April 01, 2024, 12:41:06 PM »
             |    401K    |    Roth IRA    |    Taxable    |   Savings   |    Total     |  

Goal       | $  23,000 |       $  7,000   |     $  14,000  |    $ 6,000   | $  50,000  |    %    0.0    |

JAN        | $  2,657   |       $  1,200   |     $      0      |    $  750     | $   4,607   |    %    9.2    |

FEB        | $  3,281   |       $     0       |     $      0      |    $  151     | $  3,432   |    %    6.9    |

MAR       | $  4,420   |       $     0       |     $      0      |    $ 2,553   | $  6,973    |    %   13.9   |

APR        | $      0     |       $     0       |     $      0      |    $    0       | $       0     |    %    0.0    |


YTD       | $ 10,358 |      $  1,200   |     $      0      |    $ 3,454   | $ 15,012 |   %   30.0   |



The first quarter went really well, especially considering I have some additional money that I put away for a new house that is not showing here!

Finwiz

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Re: Track your 2024 Savings Goals and Progress!
« Reply #56 on: April 02, 2024, 10:07:48 PM »
Taxable progress has slowed as we're planning a substantive bathroom reno. Hopefully will pickup some pace in May with a 3 paycheck month.

401k 1: $9,064 / $23,000 (39.4%)
Match 1: $4,950 / $12,200 (40.6%)
Mega Backdoor 401k: $28,800 / $33,800 (85.2%)
401k 2: $7,005 / $23,000 (30.5%)
Match 2: $1,168 / $4,500 (25.9%)
HSA: $1,277 / $8,300 (23.07%)
2022 IRAs: $14,000 / $14,000 (100.0%)
Mortgage Principal: $3,860 / $15,000 (25.7%)
Taxable Brokerage: $9,158 / $60,000 (15.3%)
529 Fund: $2,500 / $10,000 (25.0%)
====================
Total: $82,421 / $203,800 (40.4%)

mizzourah2006

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Re: Track your 2024 Savings Goals and Progress!
« Reply #57 on: April 08, 2024, 08:07:22 AM »
Bonus paid out for me last month which lead to large increases in 401k and the match and at the same time an opportunity came up to buy into an apartment complex investment with some professional colleagues. I decided to take the majority of my bonus and invest in that. Thus, I made some pretty significant changes to the amount I'm planning to put into the brokerage this year. We also have some house related projects coming up I'll need to cashflow (new HVAC, some new windows, etc.).


Invested    / Goal
401k 1: $12,042 / $23,000
Match 1: $7,914 / $13,500
401k 2: $6,176 / $23,000
Match 2: $737 / $2,400
HSA: $2,628 / $8,300
IRAs: $14,000 / $14,000
529s: $0 / $10,000
Brokerage: $12,800 / $30,000
Real Estate: $50,000 / $50,000
Real Estate Note: $0 / $2,496
Mortgage: $2,415 / $10,500
====================
Total: $108,712 / $187,196 (58.07%)

alcon835

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Re: Track your 2024 Savings Goals and Progress!
« Reply #58 on: April 09, 2024, 10:35:58 AM »
The percentage goal for me to be on track for February is 25.00%.

Bucket              Goal                 Current           
401K$23,000$9,082.17
Match$1,293.32$1,674.61
Roth 1$7,000$7,000.00
Roth 2$7,000$7,000.00
HSA$8,300$691.66
Dividends$2,000$588.98
Mortgage$10,700$2,696.57
Sabbatical Savings$26,168.44$26,168.44
Total$85,461.76$54,902.43
Percentage100%64.24%  (+39.24% of goal)

Update:
March was a weird month. I quit my job and started my sabbatical, and here we are three weeks later and I still feel like I'm detoxing from it all. But from a savings perspective, I'm exactly on track. So that's good. I have all the money I need for up to 12 months of savings and quite a bit more than I originally anticipated saving, so we're doing some home projects and considering traveling a bit over of the summer.

Other than that, I expect the next several months to be extremely boring here. 401K contributions stop after this month, so the only thing to tick up for awhile is dividends and my mortgage. But that's a good thing. I want this period of my life to be financially boring. That's the point of it all.

MaybeBabyMustache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #59 on: April 09, 2024, 07:12:47 PM »
Your numbers look good, @alcon835 ! I'm a couple of weeks ahead of you, and also feel like I'm still getting the hang of this new setup.

Financially, I don't have my severance yet, and still have a couple of paychecks left, plus my vacation payout, so I'll have a better financial picture in a few weeks/month. Plus, bonus, I'll know where DS18 will be attending college, and there's a huge difference between the three schools he's considering. I feel like full visibility is so close! Of course, then I'll have DS17 right behind him, and the process will begin again.

McStache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #60 on: April 30, 2024, 07:27:31 PM »
April update:
Bucket         Current / Goal

401k          $ 10,313 / $ 23,000
401k Match    $  2,750 / $  8,000
Taxable       $ 37,225 / $ 99,000
------------------------------------
Total         $ 50,288 / $130,000

Annual Savings Rate: 85.0%

% to Goal:
January       7.5%
February     18.9%
March        26.9%
April        38.7%


Raise and small bonus showed up this month, putting me solidly ahead of pace for the year if I keep the status quo going

Turtle

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Re: Track your 2024 Savings Goals and Progress!
« Reply #61 on: May 01, 2024, 05:48:43 AM »



Bucket                       401k                Employer Match                HSA Regular                HSA Catch Up               ESPP               
Goal$30,500$6,000$4,150$1,000$10,000
January 2024$1,653.06$663.26$1,766.66$83.34$826.54
End of Feb 2024$3,306.12$1,076.53$1,983.32$166.68$1640.50
End of March 2024$9,424.88$2,194.32$2,199.98$250.02$3,062.14
End of April 2024$10,276.42$2,620.08$2,416.64$333.36$3,897.32

oneday

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Re: Track your 2024 Savings Goals and Progress!
« Reply #62 on: May 01, 2024, 07:15:05 PM »

Bucket         Goal | Actual
401(k)     $ 23,000 | $ 12,416.56
Match      $  3,000 | $  3,000.00
Roth       $  6,000 | $  5,710.00
Taxable    $ 21,000 | $  1,700.00
-----------------------------------------
Total      $ 53,000 | $ 22,826.56
Progress            |   43.1%

achvfi

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Re: Track your 2024 Savings Goals and Progress!
« Reply #63 on: May 01, 2024, 09:17:09 PM »
Planning to shift some savings around to fund ESPP. Might be worth the risk.

Category   Progress   Goal   Progress %
HSA              $2,962    $8,300      35.69%
401k             $21,004   $53,000   39.63%
2 IRAs          $14,000   $14,000   100.00%
Taxable         $7,250    $3,000      241.67%
ESPP            $0          $7,000       0.00%
            
Total      $45,216   $85,300   53.01%
« Last Edit: May 02, 2024, 05:18:42 PM by achvfi »

JAYSLOL

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Re: Track your 2024 Savings Goals and Progress!
« Reply #64 on: May 01, 2024, 09:28:37 PM »
Two months into the year and Iím saving far short of what Iíd like to, although Jan and Feb are always my lowest earning months, so itís not unexpected.  March should pick up a little, and then hopefully April and May get me back on track.

Not fully back on track for the year yet, but at least the bleeding has stopped, and Iím back to saving what I need to for April, just need a few above average months now to even out the first few weak months. 

MaybeBabyMustache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #65 on: May 05, 2024, 12:28:01 PM »
Just got my severance numbers, and much more generous than I'd anticipated.

-Max DS16's 529 - $17,000 - $17,000/$17,000 saved (done)
-Max our 401Ks, catch up contributions + back door - $53,500 - done, thanks to our annual bonuses.
-Save the remainder of DS17's college expenses - $120,000 - 120,000/120,000 saved (done)
-Save another $100,000 in after tax investment accounts - 0/100,000 - will be done with my severance.

Total = $190,500/290,500


TyGuy

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Re: Track your 2024 Savings Goals and Progress!
« Reply #66 on: May 05, 2024, 02:13:48 PM »
             |    401K    |    Roth IRA    |    Taxable    |   Savings   |    Total     |  

Goal       | $  23,000 |       $  7,000   |     $  14,000  |    $ 6,000   | $  50,000  |    %    0.0    |

JAN        | $  2,657   |       $  1,200   |     $      0      |    $  750     | $   4,607   |    %    9.2    |

FEB        | $  3,281   |       $     0       |     $      0      |    $  151     | $  3,432   |    %    6.9    |

MAR       | $  4,420   |       $     0       |     $      0      |    $ 2,553   | $  6,973    |    %   13.9   |

APR        | $  3,281   |       $     0       |     $      0      |    $ 6,040   | $  9,321    |    %   18.6   |

MAY        | $     0      |       $     0       |     $      0      |    $    0       | $       0     |    %    0.0    |


YTD       | $ 13,639 |      $  1,200   |     $      0      |    $ 9,494   | $ 24,333 |   %   48.7   |



Making some serious progress here! Still on the hunt for a new house so I am staying cash heavy. I also expect my savings rate to slow down once a new home is purchased.
« Last Edit: May 25, 2024, 08:41:33 AM by TyGuy »

Finwiz

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Re: Track your 2024 Savings Goals and Progress!
« Reply #67 on: May 19, 2024, 08:54:43 PM »
Was hoping pace would pickup a bit more - but it's been an expensive month and a half (some expected, some unexpected)... below as of 5/17:

401k 1: $11,914 / $23,000 (51.8%)
Match 1: $6,450 / $12,200 (52.9%)
Mega Backdoor 401k: $30,000 / $33,800 (88.8%)
401k 2: $11,616 / $23,000 (50.5%)
Match 2: $1,935 / $4,500 (43.0%)
HSA: $3,192 / $8,300 (38.5%)
2022 IRAs: $14,000 / $14,000 (100.0%)
Mortgage Principal: $6,447 / $15,000 (43.0%)
Taxable Brokerage: $13,443 / $60,000 (22.4%)
529 Fund: $4,417 / $10,000 (44.2%)
====================
Total: $103,414 / $203,800 (50.7%)

Turtle

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Re: Track your 2024 Savings Goals and Progress!
« Reply #68 on: May 28, 2024, 02:45:19 PM »
Last paycheck for May has already happened for me, so here are my updated stats for this year.


Bucket                       401k                Employer Match                HSA Regular                HSA Catch Up               ESPP               
Goal$30,500$6,000$4,150$1,000$10,000
January 2024$1,653.06$663.26$1,766.66$83.34$826.54
End of Feb 2024$3,306.12$1,076.53$1,983.32$166.68$1640.50
End of March 2024$9,424.88$2,194.32$2,199.98$250.02$3,062.14
End of April 2024$10,276.42$2,620.08$2,416.64$333.36$4,711.28
End of May 2024$11,627.96$3,095.84$2,633.30$416.70$5,662.82

mizzourah2006

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Re: Track your 2024 Savings Goals and Progress!
« Reply #69 on: May 29, 2024, 12:51:24 PM »
End of May is basically here and it looks like I missed the end of April update. We got the new HVAC paid for via cash this month, but didn't save much outside of the 401ks and the HSAs these past 2 months.

Invested    / Goal
401k 1: $14,475 / $23,000
Match 1: $9,739 / $13,500
401k 2: $10,388 / $23,000
Match 2: $1,218 / $2,400
HSA: $3,809 / $8,300
IRAs: $14,000 / $14,000
529s: $8,000 / $10,000
Brokerage: $14,700 / $30,000
Real Estate: $50,000 / $50,000
Real Estate Note: $0 / $2,500
Mortgage: $4,125 / $10,500
====================
Total: $130,454 / $187,200 (69.70%)

MaybeBabyMustache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #70 on: May 29, 2024, 02:05:44 PM »
Finally have my severance in hand, so here's where we're shaking out:

-Max DS16's 529 - $17,000 - $17,000/$17,000 saved (done)
-Max our 401Ks, catch up contributions + back door - $53,500 - done, thanks to our annual bonuses.
-Save the remainder of DS17's college expenses - $120,000 - 120,000/120,000 saved (done)
-Save another $100,000 in after tax investment accounts - 100,000/100,000 - done

All goals complete, but now I'm not working. Next goal is to end 2024 with our current amount of savings (we have a large property tax payment, DS18 college, etc coming up).

McStache

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Re: Track your 2024 Savings Goals and Progress!
« Reply #71 on: June 01, 2024, 07:25:06 AM »
May update:
Bucket         Current / Goal

401k          $ 11,813 / $ 23,000
401k Match    $  3,500 / $  8,000
Taxable       $ 46,134 / $ 99,000
------------------------------------
Total         $ 61,446 / $130,000

Annual Savings Rate: 84.4%

% to Goal:
January       7.5%
February     18.9%
March        26.9%
April        38.7%
May          47.3%


A pretty standard (though lightly spendy due to annual expenses hitting) month.  I'm under contract to buy a house in July, so that will likely affect progress and goals a bit (a mortgage principal bucket is coming!)

TyGuy

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Re: Track your 2024 Savings Goals and Progress!
« Reply #72 on: June 01, 2024, 09:29:42 AM »
             |    401K    |    Roth IRA    |    Taxable    |   Savings   |    Total     |  

Goal       | $  23,000 |       $  7,000   |     $  14,000  |    $ 6,000   | $  50,000  |    %    0.0    |

JAN        | $  2,657   |       $  1,200   |     $      0      |    $  750     | $   4,607   |    %    9.2    |

FEB        | $  3,281   |       $     0       |     $      0      |    $  151     | $  3,432   |    %    6.9    |

MAR       | $  4,420   |       $     0       |     $      0      |    $ 2,553   | $  6,973    |    %   13.9   |

APR        | $  3,281   |       $     0       |     $      0      |    $ 6,040   | $  9,321    |    %   18.6   |

MAY        | $  8,956  |       $     0       |     $      0      |    $   50      | $  9,006    |    %   18.0   |

JUN        | $     0      |       $     0       |     $      0      |    $    0       | $       0     |    %    0.0    |


YTD       | $ 22,594 |      $  1,200   |     $      0      |    $ 9,544   | $ 33,339 |   %   66.68  |



Way ahead of schedule, but I am going to need it! I just purchased a new home, and will be spending a large portion of excess cash each month on projects for the next several months. The big jump in 401k came from banked vacation time payout from my previous employer. I have a dispute with my final check that will likely bump the 401k up to 23k (100%) if it is resolved.

Congrats to everyone else on their steady progress, keep it up!

oneday

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Re: Track your 2024 Savings Goals and Progress!
« Reply #73 on: June 02, 2024, 05:56:31 PM »

Bucket         Goal | Actual
401(k)     $ 23,000 | $ 15,175.81
Match      $  3,000 | $  3,000.00
Roth       $  7,000 | $  7,000.00
Taxable    $ 21,000 | $  1,500.00
-----------------------------------------
Total      $ 54,000 | $ 26,675.81
Progress            |   49.4%


Adjusted Roth goal from $6K to $7K. Adjusted taxable downward because some of that was transferred to the Roth account earlier, but I got confused when reporting.

It is satisfying to have reached 2 of 4 goals already. 401(k) should be maxed out in early August which seems so far away but will be hear before I blink, likely.
« Last Edit: June 02, 2024, 05:59:34 PM by oneday »

Finwiz

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Re: Track your 2024 Savings Goals and Progress!
« Reply #74 on: June 14, 2024, 07:23:52 PM »
Pace would have picked up, except for the $15k in unexpected expenses (central AC died, substantive car repair)... below as of 6/14:

401k 1: $13,339 / $23,000 (58.0%)
Match 1: $7,200 / $12,200 (59.0%)
Mega Backdoor 401k: $30,600 / $33,800 (90.5%)
401k 2: $14,281 / $23,000 (62.1%)
Match 2: $2,308 / $4,500 (51.3%)
HSA: $3,831 / $8,300 (46.2%)
2022 IRAs: $14,000 / $14,000 (100.0%)
Mortgage Principal: $7,744 / $15,000 (51.6%)
Taxable Brokerage: $20,000 / $60,000 (33.3%)
529 Fund: $5,250 / $10,000 (52.5%)
====================
Total: $118,554 / $203,800 (58.2%)

Dicey

  • Senior Mustachian
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Re: Track your 2024 Savings Goals and Progress!
« Reply #75 on: June 14, 2024, 07:46:36 PM »
Do I have to have goals or make progress? Can I just cheer you guys on?

oneday

  • CMTO 2023 Attendees
  • Walrus Stache
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  • Location: SF Bay Area, USA
  • only good pies and no bad pies -mspym
Re: Track your 2024 Savings Goals and Progress!
« Reply #76 on: June 14, 2024, 10:48:50 PM »
Do I have to have goals or make progress? Can I just cheer you guys on?

I am not opposed to this :)

ToughMother

  • Bristles
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  • Location: Western Mass.
Re: Track your 2024 Savings Goals and Progress!
« Reply #77 on: June 18, 2024, 10:21:02 PM »
Like @alcon835, I too have big changes this year which impact my savings. I'm retiring at the end of February. Our Roth savings that we did in 2023 will be put towards the 2024 earnings year (earnings in 2023 were too high to qualify). I'll have about 5 paychecks of pension savings and 457 savings. When I get my vacation payout, I"ll put that towards maxing out the 457. Anything left, I'll take towards cash (along with any paycheck savings) -- cash is for house projects like solar, exterior paint job, mini-splits. My spouse is continuing to work this year, and that is reflected in TSP savings. We will be living primarily on one income and my small pension, once it arrives. I don't think we'll have enough to save towards a Roth for next year, but if there is extra $, I'll add that during the updates.

Q1 update: FIRE'd! With the vacation payout, I was able to max out the 457 and put a chunk towards some upcoming expenses noted above. Going forward, I'll be updating the TSP since spouse is still working, and if I pick up some odd jobs/PT work or we have a low expense month, hopefully we'll have a little more to toss into the CASH bucket. 

Q2 update: Still no sign of my state pension, and hoping to see it by the end of Q3. No odd jobs/PT work this quarter. We were able to save a few bucks and my spouse keeps contributing to the TSP.

2024 Savings Goals - Q2 update

Bucket         Goal  |   Actual
TSP        $ 27,100  | $  13,538 (includes match)
457        $ 30,500  | $  30,500
Pension    $  4,500  | $   4,531
Cash       $ 20,000  | $  41,500
-----------------------------------------
Total      $ 82,100  | $  90,069
Progress             | %  109.7

Redherring

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Re: Track your 2024 Savings Goals and Progress!
« Reply #78 on: Today at 02:19:18 AM »
Joining in to keep myself in-check and continue to save diligently, even with firehose of cash that makes it so easy to relax consumption!

2024 savings goal 800k/ 900k stretched

YTD 455k (mid-June)