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General Discussion => Throw Down the Gauntlet => Topic started by: tralfamadorian on December 28, 2018, 08:03:59 PM

Title: Save 50k single 100k couple in 2019
Post by: tralfamadorian on December 28, 2018, 08:03:59 PM
Since B42 is gone, I thought I would go ahead and post the new thread for 2019.

For me I'm going for-

2019 Goals:
                         GOAL     YTD      %
SE401k:                  19K     
401k employer side:    12.5K     
IRA:                      6K     
HSA:                    3.5K       
taxable:                 14K       
total:                   55K     

Title: Re: Save 50k single 100k couple in 2019
Post by: Luckyvik on December 29, 2018, 06:48:11 PM
I'm in!
For DH & I:
50k retirement accounts (superannuation)
50k mortgage offset
Mortgage has 133, 340 left (for accountability) so the aim is to get it down to 83,340 by end of 2019
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on December 29, 2018, 08:49:59 PM
2019 Goals (for couple): $130k; $149k including normal debt paydown.  Several new savings options available to us this year, including HSA and Mega Backdoor Roth IRA.

401k: 0 / $19000
401k match: 0 / $16000
SIMPLE IRA: 0 / $13000
SIMPLE Match: 0 / $3000
HSA: 0 / $5500
HSA Match: 0 / $1500
Backdoor Roth IRA: 0 / $6000
Mega Backdoor Roth: 0 / $16000
I Bonds: 0 / $10000
Taxable Brokerage: 0 / $20800
529 #1: 0 / $6600
529 #2: 0 / $6600
Extra Mortgage Principal: 0 / $6000

Total: 0 / $130000

Regular mortgage principal and low-interest college debt principal paydown: 0 / $19000


Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on December 30, 2018, 02:37:30 AM
My goal is at least $150,000 saved off single income. Was around 120k in 2018 and my spending sucked. Getting a raise Jan 1st and picking up hours in 2019 so it should be doable.
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on December 30, 2018, 09:31:38 AM

Goals:
Bucket              Current / Goal
401k                $ 0,000 / $ 25,000 (includes catch-up)
401k Match          $ 0,000 / $ 37,000
Roth IRA            $ 0,000 / $  7,000
Taxable Savings     $ 0,000 / $ 73,000
1013 Sinking        $ 0,000 / $ 23,000
------------------------------------
Total               $ 0,000 / $ 165,000

January             $ 0,000   0.0%





Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on December 30, 2018, 09:43:35 AM
2019 GOALS vs. 2018 GOALS
$19,000 / $ 18,500 -- 401k Mrs
$  8,000 / $   6,593 -- 401k Match Mrs - match was recently improved, but still only get twice a year
$19,000 / $ 18,500 -- 401k Mr
$  5,500 / $   5,122 -- 401k Match Mr - profit sharing questionnable
$  5,230 / $   5,230 -- HSA Mrs - includes some employer contributions
$  1,770 / $   1,670 -- HSA Mr - includes some employer contributions
$75,000 / $ 60,000 -- Taxable Investments
$  6,000 / $   8,000 -- Other Savings - reduced need for house savings since we replaced roof in 2018
$35,000 / $ 30,900 -- Extra Principal Payments
$174,500 / $154,515 -- INCREASE OF $18,985
Title: Re: Save 50k single 100k couple in 2019
Post by: rebel_quietude on December 30, 2018, 03:38:50 PM
I hit over 60k in 2018... so obviously I have to do it again.

Goals:

Bucket                      Current / Goal
401k                         $ 0,000 / $ 19,000 (not including the tiny, tiny match from work)
Roth IRA                   $ 0,000 / $  6,000
Taxable Brokerage     $ 0,000 / $ 30,000
Cash                         $0,000 / $5,000
------------------------------------
Total                         $ 0,000 / $ 60,000

We'll see how this goes...
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on December 30, 2018, 06:39:11 PM
I'm in for 50K again

Goals:
Bucket         Goal
401k          $ 19,000
401k Match     $ 6,500
Roth IRA       $ 6,000
HSA            $ 3,500
Brokerage     $ 15,000
------------------------
Total         $ 50,000
Title: Re: Save 50k single 100k couple in 2019
Post by: dreaktor on December 31, 2018, 06:45:00 AM
I'm in for saving another +50K of wealth this year.
I am not from US, so I have a very simple breakdown of savings.

2019 Goals:
Bucket         Goal
Brokerage  + $25,000
Cash         + $25,000
------------------------
Total        + $50,000
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on December 31, 2018, 09:08:27 AM
Goals:                       
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
$50,000  (Mega Backdoor Roth w/ employer match)
$20,000 (w/ employer match)
$6,000
$6,000
$3,500 (w/ employer match)
$3,500 (w/ employer match)
$20,000
$109,000
Title: Re: Save 50k single 100k couple in 2019
Post by: snoot on January 02, 2019, 11:11:35 AM
I'm in this year! I'm part of a couple but only tracking my savings for this challenge.

Goals:                       
Roth IRA 2018
Roth IRA 2019
457b
Pension contributions
Pension employer contributions
Cash
Total:
$5,500  (haven't contributed yet)
$6,000
$19,000
$4,050
$9,558
$6,000
$50,108
Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on January 04, 2019, 10:48:31 AM
Eh, took an epic pay cut last year - MUCH happier! 

That said, here's our CY19 household savings goals even if it doesn't rise to the stated levels.

TSP        $19,000
457        $25,000
Pension    $8,470
TOTAL  $52,470
Title: Re: Save 50k single 100k couple in 2019
Post by: Roots&Wings on January 04, 2019, 11:14:56 AM
Hoping to get back to $50k+ and 75% savings rate in 2019.

Roth IRA: $6k (done)
401k:      $19k (automated)
Taxable:  $26k
Total:      $51k
Title: Re: Save 50k single 100k couple in 2019
Post by: neophyte on January 04, 2019, 11:21:34 AM
I didn't make it in 2018, but I'm in again for 2019!  I had some cash savings I didn't count because they were earmarked for my 2019 property taxes and IRA contribution, but I had a bit of a windfall in the form of a Christmas gift from an elderly relative that should cover those things, so maybe I'll make it this year!

Goals:
403(b):  19,000
match: 4538
HSA: 3500
IRA: 6000 (complete!)
mortgage principal paydown: 4856
taxable retirement account: 12106 / 1106 for January and then 1000 per month - remotely possible.

total: 50k
Title: Re: Save 50k single 100k couple in 2019
Post by: dogboyslim on January 04, 2019, 11:44:06 AM
My wife just got a new job, so we have new goals for 2019.

Wife 401k contribution: $19,000
Wife 401k match: $6,900
Wife A/T Investments: $25,000
401k contribution: $19,000
401k match: $11,000
DC Pension Accrual: $5,500
A/T Investments: $43,000

Total: $129,400

This plus debt reduction of ~$7k, but I don't count that as savings.  EDIT: Also funding 7k in HSA, but orthodontia pretty much will wipe it out, so not counting it either.

Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on January 17, 2019, 08:56:38 AM
Since we did it last year, we're in for another round.

We're in for $100k this year, now that my wife has a part time job.  She'll be putting the max into her 401k that they allow (80%).

Two kids as well.

Goals:


HSA                   $5000
HSA Match             $2000
401K After Tax       $29558
401K Employer Match   $7405
401K Pre Tax         $19000
Roth IRA              $6000
Wife Roth IRA         $6000
Mortgage Principal    $9240
Taxable Account       $5736
Wife 401K            $13056
Wife 401K Match        $979

Total:              $103974


Good luck to everyone!
Title: Re: Save 50k single 100k couple in 2019
Post by: peeps_be_peeping on January 17, 2019, 12:36:30 PM
I'm in again too as a single.

                              YTD   Goal         Left          %
401(k)                   $0    $19,000    $19,000    0.00%
401(k) match         $0     $3,420     $3,420      0.00%
Roth IRA                $0    $6,000     $6,000       0.00%
Taxable                 $0    $19,580    $19,580     0.00%
Cash                     $0     $12,000    $12,000    0.00%
Total                     $0     $60,000   $60,000    0.00%
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on January 29, 2019, 01:24:53 PM
January check in time.

Things are looking good so far. :)


HSA                  $417 / $5000
HSA Match              $0 / $2000
401K After Tax      $4808 / $29558
401K Employer Match  $513 / $7405
401K Pre Tax           $0 / $19000
Roth IRA              $24 / $6000
Wife Roth IRA         $24 / $6000
Mortgage Principal   $754 / $9240
Taxable Account        $0 / $5736
Wife 401K           $1088 / $13056
Wife 401K Match       $75 / $979

Total:              $7703 / $103974 (7.4%)
Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on January 29, 2019, 05:21:26 PM
Pending nothing crazy I should have $100k saved for the year off my single income by the end of July. Thatís going to be my goal at least.
Title: Re: Save 50k single 100k couple in 2019
Post by: OneCoolCat on January 29, 2019, 08:41:04 PM
I'll do my best.  Single income but I also have three dependents.

Goal is to save $55k in 2019 (not including employer match which isn't much). 

401k - $19,000
IRA - $6,000
Wife's IRA - $6,000
HSA - $6,900
Taxable account - $15,000
Crypto - $2,100

This is a stretch goal.
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on January 30, 2019, 09:21:24 PM
First time I'm joining this, excited to see what I can accomplish. ESPP is somewhat misleading since it was credited to my account this year even though they were 2018 contributions. I won't be getting my Q4 contributions until early 2020 so it should be about a wash in the end.

HSA                  $416 / $4000
HSA Match              $1000 / $2000
401K Pre Tax           $1466 / $19000
401K Pre Tax Match           $733 / $9500
Roth IRA              $500 / $6000
Mortgage Principal   $800 / $9600
Taxable Account        $4403 / $15000

Total:              $9318 / $65100 (14.31%)
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on January 31, 2019, 12:05:55 PM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 1/31/2019

401k: 1565 / $19000
401k match: 1501 / $16000
SIMPLE IRA: 770 / $13000
SIMPLE Match: 206 / $3000
HSA: 529 / $5500
HSA Match: 1500 / $1500
Backdoor Roth IRA: 6000 / $6000
Mega Backdoor Roth: 1203 / $16000
I Bonds: 10000 / $10000
Taxable Brokerage: (12900) / $20800
529 #1: 550 / $6600
529 #2: 550 / $6600
Extra Mortgage Principal: 500 / $6000

Total: $11974 / $130000

Regular mortgage principal and low-interest college debt principal paydown: 1520 / $19000

Negative number for taxable brokerage is due to withdrawing a chunk to fund the I bonds and Backdoor Roth.  With a nasty income tax bill coming due, and looming kitchen expenses, it's going to be an uphill fight to make our goals!  I did get a bigger raise than anticipated - due to very low expectations stemming from a minuscule corporate raise pool - which should help some. 
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on January 31, 2019, 12:22:49 PM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 1/31/2019

401k: 1565 / $19000
401k match: 1501 / $16000
SIMPLE IRA: 770 / $13000
SIMPLE Match: 206 / $3000
HSA: 529 / $5500
HSA Match: 1500 / $1500
Backdoor Roth IRA: 6000 / $6000
Mega Backdoor Roth: 1203 / $16000
I Bonds: 10000 / $10000
Taxable Brokerage: (12900) / $20800
529 #1: 550 / $6600
529 #2: 550 / $6600
Extra Mortgage Principal: 500 / $6000

Total: $11974 / $130000

Regular mortgage principal and low-interest college debt principal paydown: 1520 / $19000

Negative number for taxable brokerage is due to withdrawing a chunk to fund the I bonds and Backdoor Roth.  With a nasty income tax bill coming due, and looming kitchen expenses, it's going to be an uphill fight to make our goals!  I did get a bigger raise than anticipated - due to very low expectations stemming from a minuscule corporate raise pool - which should help some. 

Your 401K match makes me drool.  It is over 3X my company match.
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on January 31, 2019, 08:21:43 PM

Your 401K match makes me drool.  It is over 3X my company match.

It's new for this year.  They killed off our pension and made our match sexy.  I'm thrilled with the change, since the pension was only really benefiting the older workers; those in the younger cohort only received ~1/6 of the pension accrual rate. 
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on February 01, 2019, 08:33:42 AM
@Arbitrage - I agree your Match is sexy! Awesome for you.

2019 Goals vs. January Update
$19,000 / $  1,585 -- 401k Mrs
$  8,000 / $  4,222 -- 401k Match Mrs - this was for the last 1/2 of 2018 but deposited in Jan. 
$19,000 / $  2,040 -- 401k Mr
$  5,500 / $     612 -- 401k Match Mr - profit sharing questionnable
$  5,230 / $     384 -- HSA Mrs - includes some employer contributions
$  1,770 / $     288 -- HSA Mr - includes some employer contributions
$75,000 / $  2,000 -- Taxable Investments
$  6,000 / $     500 -- Other Savings
$35,000 / $  2,000 -- Extra Principal Payments
$174,500 / $13,632 -- 7.8% so far

Everything on track.  February and March will be more exciting.
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on February 01, 2019, 05:54:44 PM
January Update:
Bucket         Current / Goal
401k           $ 1,640 / $ 19,000
401k Match       $ 547 / $ 6,500
Roth IRA         $ 410 / $ 6,000
HSA              $ 750 / $ 3,500
Brokerage        $ 590 / $ 15,000
------------------------------------
Total          $ 3,939 / $ 50,000

January        $ 3,939   7.9%


I'll be accumulating a bit below goal pace for a while until some tuition reimbursement arrives.  But all in, not a bad start to the year.
Title: Re: Save 50k single 100k couple in 2019
Post by: peeps_be_peeping on February 04, 2019, 12:34:35 PM
I'm in again too as a single.

                              YTD / Goal
401(k)                   $1,584 / $19,000
401(k) match         $285 / $3,420
Roth IRA                $0 / $6,000
Taxable                 $1,000 / $19,580
Cash                     $1,000 / $12,000
Total                    $3,869 / $60,000
6.45% to goal


Bit of a slow start so far this year...
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on February 05, 2019, 07:48:35 AM
Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
Goal
$50,000
$20,000
$6,000
$6,000
$3,500
$3,500
$20,000
$109,000
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
Total
$8,172
$3,268
$3,500
$0
$1,000
$321
$0
$16,264
% Complete
16.3%
16.3%
58.3%
0%
29.6%
9.2%
0%
15.0%


Next month will be big due to my bonus and profit sharing which should fill up both IRAs and allow us to replenish the e-fund.
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on February 07, 2019, 09:38:43 AM


Goals:
Bucket              Current / Goal
401k                $ 2,083 / $ 25,000 (includes catch-up)
401k Match         $ 30,885 / $ 37,000
Roth IRA            $ 0,000 / $  7,000
Taxable Savings     $ 0,000 / $ 73,000
Sinking Fund        $ 3,890 / $ 23,000
------------------------------------
Total               $ 39,452 / $ 165,000

January              $ 2,593    1.7%
February            $ 35,562   23.73%


Title: Re: Save 50k single 100k couple in 2019
Post by: drumstache on February 18, 2019, 01:47:35 PM
I'm in (Single):
401K: 19K + 6K catch up (Turning the big 5-0 this year) = 25,000
401k matching: 3,300

IRA: 7,000
Taxable VK: 18,000 

Total:  53,300
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on February 18, 2019, 09:53:52 PM
Little late, but I'm in!


Bucket             Goal     | JAN
SIMPLE IRA         $ 18,000 | $ 1,095
SIMPLE IRA Match   $  3,000 | $     0
Roth IRA           $  6,000 | $ 6,000
HSA                $  3,500 | $   500
Brokerage          $ 11,000 | $     0
Savings            $ 13,000 | $-3,000
-----------------------------------------
Total              $ 54,500 | $ 4,595
Progress                    | %   8.4


In January I immediately stole 6k from savings to put into Roth, and managed to save 3k to replenish slightly, hence the negative balance and immediate 6k in Roth.
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on February 20, 2019, 05:21:19 AM
2019 Goals vs. February Update
$19,000 / $  3,013 -- 401k Mrs
$  8,000 / $  4,222 -- 401k Match - won't change again until July 
$19,000 / $  3,400 -- 401k Mr
$  5,500 / $  1,020 -- 401k Match Mr - profit sharing questionnable
$  5,230 / $     748 -- HSA Mrs - includes some employer contributions
$  1,770 / $     480 -- HSA Mr - includes some employer contributions
$75,000 / $13,000 -- Taxable Investments
$  6,000 / $  1,000 -- Other Savings
$35,000 / $  4,000 -- Extra Principal Payments
$174,500 /$30,885 -- 17.7% so far
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on February 28, 2019, 07:50:54 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 2/28/2019

401k: $3141 / $19000
401k match: $2711 / $16000
SIMPLE IRA: $1970 / $13000
SIMPLE Match: $500 / $3000
HSA: $953 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $2416 / $16000
I Bonds: 10000 / $10000
Taxable Brokerage: (11500) / $20800
529 #1: $1100 / $6600
529 #2: $1100 / $6600
Extra Mortgage Principal: $1000 / $6000

Total: $20891 / $130000    16.1%

Regular mortgage principal and low-interest college debt principal paydown: $3070 / $19000

Negative number for taxable brokerage is due to withdrawing a chunk to fund the I bonds and Backdoor Roth.  I'm not optimistic about making our goals right now, with a couple of big expenses coming up; I'm probably going to drop the extra principal payment to put it toward those expenses.  My annual raise (and then some) will have to be siphoned off to pay our income tax bill.  Hopefully something turns our way and we can make it up somewhere.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on February 28, 2019, 10:33:13 AM

Bucket                 GOAL |     JAN |     FEB |   TOTAL |
SIMPLE IRA         $ 18,000 | $ 1,095 | $ 1,850 | $ 2,945 |
Roth IRA           $  6,000 | $ 6,000 | $     0 | $ 6,000 |
HSA                $  3,500 | $   500 | $   500 | $  1000 |
Brokerage          $ 11,000 | $     0 | $     0 | $     0 |
Savings            $ 13,000 | $-3,000 | $ 3,000 | $     0 |
------------------------------------------------------------
Total              $ 51,500 | $ 4,595 | $ 5,350 | $ 9,945 |
Progress                    | %   8.9 | %  10.4 | %  19.3 |
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on February 28, 2019, 06:09:47 PM
February Update:
Bucket         Current / Goal
401k           $ 3,281 / $ 19,000
401k Match     $ 1,094 / $ 6,500
Roth IRA       $ 1,000 / $ 6,000
HSA            $ 1,000 / $ 3,500
Brokerage      $ 2,045 / $ 15,000
------------------------------------
Total          $ 8,420 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on March 01, 2019, 12:48:04 PM
February check in.  It seems my raise/bonus will not be as high as I had predicted at the beginning of the year.  We may not be able to make $100k in savings, but we'll have to see.


HSA                   $833 / $5000
HSA Match               $0 / $2000
401K After Tax       $9510 / $29558
401K Employer Match  $1026 / $7405
401K Pre Tax            $0 / $19000
Roth IRA               $73 / $6000
Wife Roth IRA          $73 / $6000
Mortgage Principal   $1511 / $9240
Taxable Account         $0 / $5736
Wife 401K            $2176 / $13056
Wife 401K Match       $153 / $979

Total:              $15354 / $103974 (14.7%)
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on March 04, 2019, 10:05:40 AM
Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
Goal
$50,000
$20,000
$6,000
$6,000
$3,500
$3,500
$20,000
$109,000
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
Total
$8,172
$3,268
$3,500
$0
$1,000
$321
$0
$16,264
% Complete
16.3%
16.3%
58.3%
0%
29.6%
9.2%
0%
15.0%


Next month will be big due to my bonus and profit sharing which should fill up both IRAs and allow us to replenish the e-fund.
Title: Re: Save 50k single 100k couple in 2019
Post by: OneCoolCat on March 09, 2019, 10:19:34 AM
I'll do my best.  Single income but I also have three dependents.

Goal is to save $55k in 2019 (not including employer match which isn't much). 

401k - $19,000
IRA - $6,000
Wife's IRA - $6,000
HSA - $6,900
Taxable account - $15,000
Crypto - $2,100

This is a stretch goal.

I'm on track to hit this but I need to make an adjustment since I received a nice raise.  New numbers:
401k - $19,000
IRA - $6,000
Wife's IRA - $6,000
HSA - $6,900
Taxable account - $15,000 $25,500
Crypto - $2,100
529 Account #1: $3,400
529 Account #2: $3,100

New goal is $70,000!
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on March 10, 2019, 03:18:38 AM
This is my first full year of "real" financial planning. Initially, I thought, maybe 50k is a bit ambitious. However, I think I can make it (all things going well), so I go for a stretch goal.
Beginning of the year is always slow on savings, but hopefully things will pick up as planned.

                                           Goal            Current   
Tax exempt plan:            7,200              878       12.20%
Savings incl. EF:           13,000              390         3.00%
Brokerage:                     41,500            3,550        8.55%

Total:                              61,700            4,818         7.81%
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on March 20, 2019, 07:09:37 PM
March is a month in which we both get an annual bonus, one of us gets an 'extra check' and Mr. also got a $5k 401(k) profit sharing deposit for last year.  Very atypical from the rest of our year.

2019 Goals vs. March Update

$19,000 /  $  5,157 -- 401k Mrs
$  8,000 /  $  4,222 -- 401k Match - won't change again until July 
$19,000 /  $  7,160 -- 401k Mr
$  5,500 /  $  7,148 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$  5,230 /  $  1,259 -- HSA Mrs - includes some employer contributions
$  1,770 /  $     673 -- HSA Mr - includes some employer contributions
$75,000 /  $40,000 -- Taxable Investments
$  6,000 /  $  1,500 -- Other Savings
$35,000 /  $14,500 -- Extra Principal Payments
$174,500 /$81,621 -- 47%
Title: Re: Save 50k single 100k couple in 2019
Post by: TexasRunner on March 21, 2019, 10:37:19 AM
Alright I'm in....   

Married but I'm the sole breadwinner.  I've come to realize that we are planning on saving about 44k anyways so stretching it to 50k is a good motivator.

2019 Goals
$19,000 into My 401
$6,000 into my IRA
$6,000 into her IRA
TBD ($3,150) 401k Match. Possibly changing up jobs to a new employer that does 50 cents on the dollar to 6%.  Much better than current.
$10,000 expansion of EM Fund
$2,950 mortgage principle
$2,900 into taxable (minimum)

$50,000 - TOTAL SAVINGS


2019 Goals vs. Current Status
$19,000  /  $906.20  --  His 401 (Keeping this low to get better matching later)
$6,000  /  $400.00  --  His IRA
$6,000  /  $600.00  --  Her IRA
$3,150  /  $135.94  --   401k Match (This will all disappear if I do change jobs, but the new job match is much better)
$10,000  /  $1,150.00  --   Expansion of EM Fund
$2,950  /  $742.17  --  Mortgage Principle
$2,900  /  $0.00  --  Taxable (minimum)

$50,000  /  $3,934.31 or 7.87% of total...   While we are 25% of the way through the year.  :/

I have some catching up to do.
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on March 21, 2019, 08:08:48 PM
March is bonus time for us.  Put the max of 50% of my bonus paycheck into my 401k.  Got a windfall that was unexpected in addition to that, so putting that into our standard savings account, and updating our totals to now hopefully break $100k for the first time ever.  Hooray.


HSA                  $1250 / $5000
HSA Match               $0 / $2000
401K After Tax      $21981 / $29558
401K Employer Match  $2244 / $7405
401K Pre Tax            $0 / $19000
Roth IRA             $1921 / $6000
Wife Roth IRA        $1921 / $6000
Mortgage Principal   $2271 / $9240
Windfall            $16900 / $16900
Wife 401K            $2720 / $13056
Wife 401K Match       $187 / $979

Total:              $51394 / $115139 (44.6%)
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on March 26, 2019, 08:15:35 AM


Goals:
Bucket              Current / Goal
401k                $ 6,250 / $ 25,000 (includes catch-up)
401k Match         $ 31,905 / $ 37,000
Roth IRA            $ 7,000 / $  7,000
Taxable Savings     $ 0,000 / $ 73,000
Sinking Fund        $ 5,835 / $ 23,000
------------------------------------
Total               $ 50,990 / $ 165,000

January              $ 2,593    1.7%
February            $ 35,562   23.73%
March                $50,990    30.90%


Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on March 26, 2019, 09:07:57 AM
That is one hell of a 401k match.

Sent from my Pixel 2 XL using Tapatalk

Title: Re: Save 50k single 100k couple in 2019
Post by: billy on March 26, 2019, 09:22:02 AM
2019 GOALLLLLLLLLLLLLLLS for us, not including dividends, matches, bonuses, or pension contributions mumbo jumbo.

t401k     $19,000
t401k     $19,000
t457       $19,000
tIRA       $6,000   (mission accomplished)
tIRA       $6,000   (mission accomplished)
taxable   $53,000

total       $122,000

This is our first time doing traditional, I think think it will work out a lot better for us.

Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on March 26, 2019, 08:05:08 PM
Eh, took an epic pay cut last year - MUCH happier! 

That said, here's our CY19 household savings goals even if it doesn't rise to the stated levels.

TSP        $19,000
457        $25,000
Pension    $8,470
TOTAL  $52,470

Epic pay cut last year; just accepted yet another new gig as of April 1 bringing my salary back up, so new goals for CY19 in order:
TSP        $19,000
457        $25,000
Pension  $13,000
Invest    $22,800
ROTH       $7,000
TOTAL  $86,800
Title: Re: Save 50k single 100k couple in 2019
Post by: OurTown on March 27, 2019, 01:13:40 PM
We are on target to save about $72k as a couple, so we are unworthy of this challenge.  But it's awesome to see so many folks just nailing it on this thread.
Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on March 27, 2019, 03:43:16 PM
Well this month I will have topped 50k saved in 2019 on a single income (around 54k or so). Should hit the 100k saved by June if I donít do anything stupid.. Thatís a big ďif.Ē Really been fighting off the urge to replace our 1999 Toyota Camry.. Thereís a lot of pride in driving that old Camry at my income.. Though I also really like vehicles and there would be a lot of enjoyment in something else..
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on March 29, 2019, 10:52:24 AM

Bucket                 GOAL |      JAN |      FEB |      MAR |    TOTAL |
SIMPLE IRA         $ 18,000 | $  1,095 | $  1,850 | $  1,850 | $  4,795 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $    500 | $    500 | $    500 | $  1,500 |
Brokerage          $ 15,000 | $      0 | $      0 | $      0 | $      0 |
Savings            $  9,000 | $ -3,000 | $  3,000 | $  2,000 | $  2,000 |
-------------------------------------------------------------------------
Total              $ 51,500 | $  4,595 | $  5,350 | $  4,350 | $ 14,295 |
Progress                    | %    8.9 | %   10.4 | %    8.4 | %   27.8 |


1/4 into the year, a little over 25% of the way there. Hoping for a big month next month.
Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on March 29, 2019, 08:07:29 PM
Eh, took an epic pay cut last year - MUCH happier! 

That said, here's our CY19 household savings goals even if it doesn't rise to the stated levels.

TSP        $19,000
457        $25,000
Pension    $8,470
TOTAL  $52,470

Epic pay cut last year; just accepted yet another new gig as of April 1 bringing my salary back up, so new goals for CY19 in order:
TSP        $19,000
457        $25,000
Pension  $13,000
Invest    $22,800
ROTH       $7,000
TOTAL  $86,800

Q1 update

Bucket         Goal | Q1
TSP        $ 19,000 | $  4,385
457        $ 25,000 | $  5,769
Pension    $ 13,000 | $  1,927
Invest     $ 22,800 | $      0
Roth       $  7,000 | $      0
-----------------------------------------
Total      $ 86,800 | $ 12,081
Progress            | % 13.9
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on March 30, 2019, 05:23:40 PM
That is one hell of a 401k match.

Sent from my Pixel 2 XL using Tapatalk

Solo 401K.  limit between employee + employer contribution + >50 catch-up = $62K this year. 
Plus another $7K in a backdoor Roth. 

It really adds up fast!
Title: Re: Save 50k single 100k couple in 2019
Post by: Libertea on March 30, 2019, 07:11:56 PM
I'm in too, as a single.  My planned contributions include the following:

403b (last year for this - yay!): $18,000 (in process)
457: (last year for this too): $9000 (will do after 403b)
Roth IRA: $6000 (done)
US savings bonds: $20,000 (won't be purchased until December but am already setting aside the money)

Total 2019 contributions: $53,000
Title: Re: Save 50k single 100k couple in 2019
Post by: 11ducks on March 30, 2019, 10:14:59 PM
I'm late to the party, but what the heck! My goal is $50k single in 2019, pretty equally split between retirement, investment and cash savings.

Bucket            Goal             Current
Retirement      17600           3990       22.7%
Investments    17550           4590       26.2%
Offset acct       14850           3850      26%
Total               $50000          $12430
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on March 31, 2019, 03:26:15 AM
March update - not as good as I would have liked, but 1st quarter is always heavy on annual payments. We also had to deal with unexpected high vet bills ...
So, only got about 16% of the goal yet for the 1st quarter. This should pick up in Q2.

                                           Goal            Current   
Tax exempt plan:            7,200              1,318       18.30%
Savings incl. EF:           13,000              2,190        16.85%
Brokerage:                     41,500              6,350        15.30%

Total:                              61,700              9,858         15.98%
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on April 01, 2019, 07:57:53 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 4/1/2019

401k: $4475 / $19000
401k match: $3442 / $16000
SIMPLE IRA: $3250 / $13000
SIMPLE Match: $800 / $3000
HSA: $1377 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $3442 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: (10100) / $20800
529 #1: $1650 / $6600
529 #2: $1650 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $28986 / $130000    22.3%

Regular mortgage principal and low-interest college debt principal paydown: $4620 / $19000

Thought I posted this earlier, but must've fat-fingered it.  Anyhow, plodding away, but not at all optimistic that we'll make it to the goal.  No raises on the horizon, and a hinted $5-10k bonus for DW was forgotten.  Also, the $350 monthly I trimmed from the food budget this year was gobbled up by the revelation that we're under-withholding by about that amount.  That'll help our FIRE number, but not our annual savings. 
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on April 04, 2019, 12:46:54 PM

Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
Goal
$50,000
$20,000
$6,000
$6,000
$3,500
$3,500
$20,000
$109,000
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
March
$9,919
$1,634
$2,500
$6,000
$250
$398
$0
$20,476
Total
$18,091
$4,902
$6,000
$6,000
$1,250
$719
$0
$36,740
% Complete
36.2%
24.5%
100%
100%
35.7%
20.5%
0%
33.7%


March was bonus month but April is tax bill month...
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on April 07, 2019, 05:17:51 PM
March Update:
Bucket         Current / Goal
401k           $ 4,921 / $ 19,000
401k Match     $ 1,640 / $ 6,500
Roth IRA       $ 1,950 / $ 6,000
HSA            $ 1,250 / $ 3,500
Brokerage      $ 2,045 / $ 15,000
------------------------------------
Total         $ 11,807 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%


A little behind pace, but I should catch up when I get some tuition reimbursements later this year.
Title: Re: Save 50k single 100k couple in 2019
Post by: letsdoit on April 17, 2019, 09:29:41 AM
i'm confused as to how many ppl here have HSAs
dont you need high deductible health insurance to qualify for HSA?
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on April 17, 2019, 10:01:49 AM
i'm confused as to how many ppl here have HSAs
dont you need high deductible health insurance to qualify for HSA?

Yep. Mustachians tend to be younger demographic, which benefit most from HDHPs. I had a great work plan with great coverage, very small deductible. I specifically asked to be moved to a "worse" plan with a higher deductible in order to be eligible for HSA.
Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on April 17, 2019, 10:42:51 AM
i'm confused as to how many ppl here have HSAs
dont you need high deductible health insurance to qualify for HSA?

Yep. Mustachians tend to be younger demographic, which benefit most from HDHPs. I had a great work plan with great coverage, very small deductible. I specifically asked to be moved to a "worse" plan with a higher deductible in order to be eligible for HSA.

This - my wife fell off her parents health insurance last year due to nearing the age limit and changes in their insurance. I had a fantastic standard health plan by my employer prior. However - adding her to my plan would be like an extra $800/mo. It was maybe $100-$150 for myself.

It made sense for us to switch to the HDHP. Weíve maxed out the HSA end of 2018 and then again in January 2019.

While weíre young, itís great. My wife, in our 7 years together, aside from her annual ďwomanly dr apptísĒ I donít think has seen a single doctor (aside from vision or dental) in those 7 years. She is like the pinnacle of health.

Unfortunately for me, on the other hand, can be awfully high maintenance. Iím incredibly health in the sense that my diet, weight, and exercise is all perfect. Iíve also had 3 hernia surgeries and skin cancer prior to turning 30. I also have a tendency to come down with the worlds worst deadly cold/sinus infection/all of that, every year or 2 for about 2 weeks, and that usually warrants a doctors visit.

Our deductible is $3,000 ea and max out of pocket is $6,000 ea. We do, fortunately, have a huge great network if needed. Good PPO plan.
Title: Re: Save 50k single 100k couple in 2019
Post by: snoot on April 17, 2019, 01:28:07 PM
I'm in this year! I'm part of a couple but only tracking my savings for this challenge.

Goals:                       
Roth IRA 2018
Roth IRA 2019
457b
Pension contributions
Pension employer contributions
Cash
Total:
$5,500  (haven't contributed yet)
$6,000
$19,000
$4,050
$9,558
$6,000
$50,108


                       
Bucket:
Roth IRA 2018
Roth IRA 2019
457b
Pension contributions
Pension employer contributions
Cash
Total:
Progress:
Goal:
$5,500
$6,000
$19,000
$4,050
$9,558
$6,000
$50,108
100%
Q1
$5,500
$5,500
$100
$1000
$2500
$0
$14,600
29.2%
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on April 19, 2019, 07:46:06 PM
Checking in for April.  We've technically hit 'our numbers' for FIRE at this point (if using a 4% withdrawal rate).  Plan so far is to see how things go until the end of the year and reevaluate.  We'd rather be a bit more conservative given the high values of the stock market right now.


HSA                  $1667 / $5000
HSA Match             $500 / $2000
401K After Tax      $26990 / $29558
401K Employer Match  $2767 / $7405
401K Pre Tax            $0 / $19000
Roth IRA             $1921 / $6000
Wife Roth IRA        $1921 / $6000
Mortgage Principal   $3034 / $9240
Windfall            $16900 / $16900
Wife 401K            $4058 / $13056
Wife 401K Match       $300 / $979

Total:              $60057 / $115139 (52.1%)
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on April 23, 2019, 09:11:39 PM
Checking in for April.  We've technically hit 'our numbers' for FIRE at this point (if using a 4% withdrawal rate).  Plan so far is to see how things go until the end of the year and reevaluate.  We'd rather be a bit more conservative given the high values of the stock market right now.


HSA                  $1667 / $5000
HSA Match             $500 / $2000
401K After Tax      $26990 / $29558
401K Employer Match  $2767 / $7405
401K Pre Tax            $0 / $19000
Roth IRA             $1921 / $6000
Wife Roth IRA        $1921 / $6000
Mortgage Principal   $3034 / $9240
Windfall            $16900 / $16900
Wife 401K            $4058 / $13056
Wife 401K Match       $300 / $979

Total:              $60057 / $115139 (52.1%)

What is the reasoning for prioritizing post-tax 401k over pre-tax?

Sent from my Pixel 2 XL using Tapatalk

Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on April 27, 2019, 11:24:34 AM
2019 Goals vs. April Update
$ 19,000   /  $  6,307 -- 401k Mrs
$   8,000   /  $  4,223 -- 401k Match - won't change again until July 
$ 19,000   /  $  8,541 -- 401k Mr
$   5,500   /  $  7,982 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  1,600 -- HSA Mrs - includes some employer contributions
$   1,770   /  $     865 -- HSA Mr - includes some employer contributions
$ 75,000   /  $49,200 -- Taxable Investments
$   6,000   /  $  2,000 -- Other Savings
$ 35,000   /  $16,500 -- Extra Principal Payments
$174,500/ $97,220 -- 56%

Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on April 27, 2019, 01:23:36 PM
2019 Goals vs. April Update
$ 19,000   /  $  6,307 -- 401k Mrs
$   8,000   /  $  4,223 -- 401k Match - won't change again until July 
$ 19,000   /  $  8,541 -- 401k Mr
$   5,500   /  $  7,982 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  1,600 -- HSA Mrs - includes some employer contributions
$   1,770   /  $     865 -- HSA Mr - includes some employer contributions
$ 75,000   /  $49,200 -- Taxable Investments
$   6,000   /  $  2,000 -- Other Savings
$ 35,000   /  $16,500 -- Extra Principal Payments
$174,500/ $97,220 -- 56%
With these savings numbers you must be moving at crazy pace. How many more years til FI?

Sent from my Pixel 2 XL using Tapatalk

Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on April 27, 2019, 05:52:28 PM
The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?


Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on April 27, 2019, 10:15:14 PM
The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?


That makes perfect sense, I always thought I was limited to pre tax contributions to get the best match but turns out that our match is simply applied to the first contributions and always goes into post-tax. Might be worth consideration to switch my strategy.

Sent from my Pixel 2 XL using Tapatalk

Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on April 28, 2019, 07:06:13 AM

Bucket                 GOAL |      JAN |      FEB |      MAR |      APR |    TOTAL |
SIMPLE IRA         $ 18,000 | $  1,095 | $  1,850 | $  1,850 | $  1,850 | $  6,645 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $    500 | $    500 | $    500 | $    500 | $  2,000 |
Brokerage          $ 15,000 | $      0 | $      0 | $      0 | $  2,500 | $  2,500 |
Savings            $  9,000 | $ -3,000 | $  3,000 | $  2,000 | $  1,000 | $  3,000 |
------------------------------------------------------------------------------------
Total              $ 51,500 | $  4,595 | $  5,350 | $  4,350 | $  5,850 | $ 20,145 |
Progress                    | %    8.9 | %   10.4 | %    8.4 | %   11.4 | %   39.1 |


1/3 into the year, well over 33% of the way there, which is good because I have some challenging months ahead. Very happy with how April turned out - 90%+ SR!
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on April 28, 2019, 08:54:37 AM
2019 Goals vs. April Update

$174,500/ $97,220 -- 56%
With these savings numbers you must be moving at crazy pace. How many more years til FI?

Sent from my Pixel 2 XL using Tapatalk

Well, the FI part is a bit subjective but we aren't quite where we want to be with our balances yet. Only 3 more years until we plan to retire. DH plans to leave at the end of April 2022 and myself in July 2022 (for one last bonus). We've been blessed with very good annual bonuses this year so we'll earn more (and save more) than we ever have in recent years but we haven't always had earnings like this. We were a one income family for many years. For reference, we will both be 49 in 2022. 
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on April 28, 2019, 12:56:26 PM
April update - now up to 23%.
May should increase savings.
At least if nothing unforeseen happens.


                                           Goal            Current   
Tax exempt plan:            7,200              1,757       24.4%
Savings incl. EF:           13,000              2,820       21.7%
Brokerage:                     41,500              9,750       23.5%

Total:                              61,700             14,327       23.2%
Title: Re: Save 50k single 100k couple in 2019
Post by: PhrugalPhan on April 28, 2019, 02:33:15 PM
I hadn't seen this listed previously and would like to add in.  I am single, though should have a GF moving in with me in the coming months (she is retired with pension & large TSP).  I have been saving around $50k / year for the last few years and should hit this again soon this year.  I concentrate on savings early in the year and then refill my savings accounts later once I hit the 457 account limit through year end.  This is on a gross salary of around $100k / year.


As of end of April (72.8%):
Bucket             Current / Goal
457                $15,400 / $25,000 (includes catch-up)
457 Match          $ 0,000 / $ 0,000 (I get no match - instead I get a good pension mostly employer funded)
Roth IRA           $ 7,000 / $ 7,000
HSA                $ 2,400 / $ 4,450
Brokerage          $13,000 / $13,000
Pension contrib.   $ 2,000 / $ 5,200 (I have to contribute 5% of paycheck to pension)
Total              $39,800 / $54,650


Will top off 457 plan by end of July & HSA will hit limit by early December. After July extra in paychecks will re-inflate my savings to where they started the year.
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on April 30, 2019, 08:16:13 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 4/30/2019

401k: $6365 / $19000
401k match: $5189 / $16000
SIMPLE IRA: $4400 / $13000
SIMPLE Match: $1100 / $3000
HSA: $1800 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $4896 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: (8100) / $20800
529 #1: $2200 / $6600
529 #2: $2200 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $39050 / $130000    30.0%

Regular mortgage principal and low-interest college debt principal paydown: $6170 / $19000

Only change in savings rate from last month is stopping the extra principal payments and moving those into taxable.  I'd like to build up a bit more of a buffer there to pay for a planned kitchen update/remodel.  In other words, that 'extra' savings probably isn't going to stick, and we'll be even further behind the goal. 
Title: Re: Save 50k single 100k couple in 2019
Post by: peeps_be_peeping on April 30, 2019, 11:33:30 AM
                              YTD / Goal
401(k)                   $6,336 / $19,000
401(k) match         $2,449 / $3,420
Roth IRA                $0 / $6,000
Taxable                  $5,308 / $19,580
Cash                      $3,925 / $12,000
Total                     $18,018 / $60,000

30.03% to goal


Last month I received a mysterious $1,309 contribution to my 401(k) that did not come out of my paycheck. I'm thinking it was a "true-up" or a bonus match for 2018 but I'm also a little afraid to ask because there have been some mistakes made in my small company with the 401(k) before and I would hate to be the one to point out this kind of mistake. I'm waiting to fund my Roth because if I get married this year our joint income will be too high. I can always toss cash in the Roth on 12/31/19 if I stay single all year.
Title: Re: Save 50k single 100k couple in 2019
Post by: SaucyAussie on April 30, 2019, 12:02:37 PM
Super late to the party but this perfectly aligns with my goals:

401k   4333 / 19000
match  3333 / 10000
Roth   0    /  6000
HSA    2000 /  5000
Txble  5000 / 10000
Total  14666/ 50000

Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on May 01, 2019, 06:39:48 PM
April Update:
Bucket         Current / Goal
401k           $ 6,562 / $ 19,000
401k Match     $ 2,187 / $ 6,500
Roth IRA       $ 3,000 / $ 6,000
HSA            $ 1,500 / $ 3,500
Brokerage      $ 2,088 / $ 15,000
------------------------------------
Total         $ 15,337 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on May 03, 2019, 09:51:41 AM
Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
March
$9,919
$1,634
$2,500
$6,000
$250
$398
$0
$20,476
April
$4,294
$1,639
$0
$0
$250
$278
$0
$6,462
Total/Goal
$22,386/$50,000
$6,541/$20,000
$6,000/$6,000
$6,000/$6,000
$1,500/$3,500
$998/$3,500
$0/$20,000
$43,202/$109,000
% Complete
44.8%
32.7%
100%
100%
42.9%
28.5%
0%
39.6%

Title: Re: Save 50k single 100k couple in 2019
Post by: Enigma on May 21, 2019, 09:55:41 AM
2019 Goals single: $60k
Just started a new job in March 2019

401k: $3140 / $19000
401k match: $663 / $2650
Traditional IRA: $1400 / $6000
HSA: $628 / $3500
Taxable Brokerage: $6,750 / $28850

Total: $12,581 / $60000 ~ 21% Goal

Late to the party as well.  Just started a new job in March.  Didn't have a 401k last year or HSA.  Currently 25% of my check is going towards funding my 401k.  I was penalized on taxes so an extra chunk of income is going from my paycheck towards taxes.  Most of my earnings is residual income from realestate.
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on May 21, 2019, 11:45:17 AM
May update.  Finished maximizing the after tax contributions to the 401k, and I'll be rolling those to my Roth (via mega-backdoor) in another week's time.


HSA                  $2083 / $5000
HSA Match             $500 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $3289 / $7405
401K Pre Tax          $327 / $19000
Roth IRA             $2705 / $6000
Wife Roth IRA        $2705 / $6000
Mortgage Principal   $3800 / $9240
Windfall            $16900 / $16900
Wife 401K            $5145 / $13056
Wife 401K Match       $374 / $979

Total:              $67920 / $115139 (58.9%)
Title: Re: Save 50k single 100k couple in 2019
Post by: letsdoit on May 21, 2019, 03:01:05 PM
on track for saving 74k, couple
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on May 26, 2019, 07:40:17 AM
May update - now up to 58%.

                                           Goal            Current   
Tax exempt plan:            7,200              4,121       57.2%
Savings incl. EF:           13,000            15,967     122.8%
Brokerage:                     41,500            15,950       38.4%

Total:                              61,700             36,038      58.4%

The distribution is out of whack, as there seem to be some unexpected medical expenses coming up, so I am keeping it in Savings still for the time being. If not needed, I will shift them to brokeragein Q4.
Title: Re: Save 50k single 100k couple in 2019
Post by: tralfamadorian on May 26, 2019, 11:19:00 AM
I don't think it's appropriate to add the MATCH that you get from your employer to the savings goal.

Why? Dollars in the 401k are dollars in the 401k regardless of whether they are employee or employer side (disregarding vesting).
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on May 26, 2019, 01:27:35 PM
If I don't put anything in my 401k then my match is zero so it is 100% dependent on my paycheck savings. I'll continue to include it but that doesn't mean you need to just like some people include vehicle equity in their net worth and I don't :-)
Title: Re: Save 50k single 100k couple in 2019
Post by: tralfamadorian on May 26, 2019, 01:39:48 PM

Why? Dollars in the 401k are dollars in the 401k regardless of whether they are employee or employer side (disregarding vesting).

I thought the challenge was saving from your paycheck(salary) otherwise, you can include your inheritance, market gains etc

Well, you can make up your own rules for your own savings if you wish to participate but as the thread OP for this year, I disagree that matching == market gains.

For those of us in a traditional employer/employee situation, matching is part of your total compensation when you choose a job. To separate salary from other compensation doesn't seem to usefully contribute in my opinion. For those of us who are self employeed, employee = employer so it's pedantic to separate the two.

Some of us include principal payments on mortgages. Some don't. I'm not here to henpeck their decision- it's their own FIRE journey.
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on May 26, 2019, 01:44:47 PM
First time I'm joining this, excited to see what I can accomplish. ESPP is somewhat misleading since it was credited to my account this year even though they were 2018 contributions. I won't be getting my Q4 contributions until early 2020 so it should be about a wash in the end.

HSA                  $416 / $4000
HSA Match              $1000 / $2000
401K Pre Tax           $1466 / $19000
401K Pre Tax Match           $733 / $9500
Roth IRA              $500 / $6000
Mortgage Principal   $800 / $9600
Taxable Account        $4403 / $15000

Total:              $9318 / $65100 (14.31%)

HSA                  $1874.97 / $5000
HSA Match              $1000 / $2000
401K Pre Tax           $6605.28 / $19000
401K Pre Tax Match           $3302.64 / $9500
Roth IRA              $6000 / $6000
Mortgage Principal   $4000 / $9600
Taxable Account        $3000 / $15000
2nd mortgage bulk payment from bonus: $0 / $15000



Total:              $25782.89 / $81100 (31.79%)

It looks like I had made an error in my HSA (I can contribute 5k instead of 4k). I also threw in the planned payoff for part of the 2nd mortgage we took out late 2018.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on May 30, 2019, 09:46:22 AM

Bucket                 GOAL |      JAN |      FEB |      MAR |      APR |      MAY |    TOTAL |
SIMPLE IRA         $ 18,000 | $  1,095 | $  1,850 | $  1,850 | $  1,850 | $  1,850 | $  8,495 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $    500 | $    500 | $    500 | $    500 | $    500 | $  2,500 |
Brokerage          $ 15,000 | $      0 | $      0 | $      0 | $  2,500 | $  1,500 | $  4,000 |
Savings            $  9,000 | $ -3,000 | $  3,000 | $  2,000 | $  1,000 | $    500 | $  3,500 |
-----------------------------------------------------------------------------------------------
Total              $ 51,500 | $  4,595 | $  5,350 | $  4,350 | $  5,850 | $  4,350 | $ 24,495 |
Progress                    | %    8.9 | %   10.4 | %    8.4 | %   11.4 | %    8.4 | %   47.6 |


Tough month expense wise. Good progress YTD.
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on May 31, 2019, 08:29:06 AM
As a 4th year participant in these annual challenge threads, I have to disagree with @tampaite about counting employer contributions to retirement plans. These are dollars being deposited on our behalf and are part of our overall comepensation. There are numerous threads on how to calculate savings rates and many agree that adding in the employer contributions should be included. I also disagree that it's the same as including market fluctuations. There are already other threads for tracking/reporting changes in overall NW/Balance.

My thinking on the purpose of this thread is to motivate one aother (and more importantly ourselves) in adding 'NEW' money to our savings goals/investments regardless of where the money is coming from. I rather like this aspect because regardless of what is going on with the larger market (and thus balances) I'm focusing on advancing our goals towards FI. I can only get there by continuing to focus on investing/saving new money that I earn one way or another and addressing my other financial goals like paying off our mortgage next year.

Therefore, I support the flexibility for each person to decide for themselves what they wish to track. Either way, I hope you'll continue to post based on your personal preferences so we can celebrate along with you!
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on May 31, 2019, 12:33:51 PM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 5/31/2019

401k: $8380 / $19000
401k match: $6738 / $16000
SIMPLE IRA: $5500 / $13000
SIMPLE Match: $1300 / $3000
HSA: $2320 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $6446 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: (2600) / $20800
529 #1: $2750 / $6600
529 #2: $2750 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $52584 / $130000    40.4%

Regular mortgage principal and low-interest college debt principal paydown: $7720 / $19000

Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on May 31, 2019, 02:12:30 PM
As a 4th year participant in these annual challenge threads, I have to disagree with @tampaite about counting employer contributions to retirement plans. These are dollars being deposited on our behalf and are part of our overall comepensation. There are numerous threads on how to calculate savings rates and many agree that adding in the employer contributions should be included. I also disagree that it's the same as including market fluctuations. There are already other threads for tracking/reporting changes in overall NW/Balance.

My thinking on the purpose of this thread is to motivate one aother (and more importantly ourselves) in adding 'NEW' money to our savings goals/investments regardless of where the money is coming from. I rather like this aspect because regardless of what is going on with the larger market (and thus balances) I'm focusing on advancing our goals towards FI. I can only get there by continuing to focus on investing/saving new money that I earn one way or another and addressing my other financial goals like paying off our mortgage next year.

Therefore, I support the flexibility for each person to decide for themselves what they wish to track. Either way, I hope you'll continue to post based on your personal preferences so we can celebrate along with you!

You can disagree with me. No problem. In the same tone, I don't see why market gains and inheritance and tax refunds etc can also be considered as "savings" even though you aren't saving from your paycheck.

Anyway, as you said each onto their own but my opinion would be not to count matching as savings as you are not saving it from your paycheck.

You can certainly ignore employer matches if you wish, but you should probably stop throwing the 'market gains' strawman in your argument.  Not one single person in this thread has ever claimed that market gains are the equivalent of saving.

As far as tax refunds, I have no idea why that wouldn't be saving if you take it and invest it.  No difference from any other income once it's in your hand; a tax refund just means you shouldn't have withheld so much.
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on June 02, 2019, 10:48:24 AM
May Update:
Bucket         Current / Goal
401k           $ 8,202 / $ 19,000
401k Match     $ 2,734 / $ 6,500
Roth IRA       $ 3,725 / $ 6,000
HSA            $ 1,750 / $ 3,500
Brokerage      $ 5,779 / $ 15,000
------------------------------------
Total         $ 22,190 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%


My 401k match is part of my compensation (income/salary) and I will continue to count it towards my goal.  I similarly count tax refunds (as that is just a shift in when I received my salary based on withholding errors).  Historically, I have also counted windfalls (such as small inheritances), but also correspondingly increased my savings goals to reflect what I am hoping to save from my labor-based income.
Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on June 02, 2019, 11:25:14 AM
At $83,374 so far this year saved on my single income. Will easily hit it mid July, unless I end up buying this car Iíve been wanting forever. Weíll see.
Title: Re: Save 50k single 100k couple in 2019
Post by: Enigma on June 19, 2019, 06:05:03 AM
2019 Goals single: $60k
Just started a new job in March 2019

401k: $3140 / $19000
401k match: $663 / $2650
Traditional IRA: $1400 / $6000
HSA: $628 / $3500
Taxable Brokerage: $6,750 / $28850

Total: $12,581 / $60000 ~ 21% Goal

Late to the party as well.  Just started a new job in March.  Didn't have a 401k last year or HSA.  Currently 25% of my check is going towards funding my 401k.  I was penalized on taxes so an extra chunk of income is going from my paycheck towards taxes.  Most of my earnings is residual income from realestate.
2019 Goal 6/19/2019   Update
      
401k: $6,280 / $19,000
401k match: $1,106 / $4,200
Traditional IRA: $5,000 / $6,000
HSA: $996 / $3,500
Taxable Brokerage: $12,700 / $27,300
      
Total: $26,082 / $60,000 (~43% towards goals)
Title: Re: Save 50k single 100k couple in 2019
Post by: SaucyAussie on June 19, 2019, 07:26:07 AM
At $83,374 so far this year saved on my single income. Will easily hit it mid July, unless I end up buying this car Iíve been wanting forever. Weíll see.

What's the breakdown?
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on June 25, 2019, 02:34:48 PM
June update.  We are progressing nicely and are on track.


HSA                  $2500 / $5000
HSA Match             $500 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $3812 / $7405
401K Pre Tax          $980 / $19000
Roth IRA             $4676 / $6000
Wife Roth IRA        $4676 / $6000
Mortgage Principal   $4568 / $9240
Windfall            $16900 / $16900
Wife 401K            $6233 / $13056
Wife 401K Match       $463 / $979

Total:              $75402 / $115139 (65.5%)
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on June 26, 2019, 03:21:00 PM
June update - now up to 70%, but the lean half of the year is ahead, so savings will slow down again.

                                           Goal            Current   
Tax exempt plan:            7,200              4,561       63.3%
Savings incl. EF:           13,000            16,103    123.9%
Brokerage:                     41,500            22,550      54.3%

Total:                              61,700             43,214      70,0%

Still anticipating some  medical expenses coming up in August, so I am keeping Savings/EF above plan.
Title: Re: Save 50k single 100k couple in 2019
Post by: PhrugalPhan on June 27, 2019, 10:31:09 AM
End of June update for me.  Almost finished with the 457 account for the year.  End of July the 457 will be done and then the take home pay more than doubles and I can start living large (just kidding).   Seriously though, I am deciding on getting a new (to me) car as my current car is getting way up there in miles now, so a lot of my extra paychecks may go into that unfortunately.

As of end of June (88.7%):
Bucket             Current / Goal
457                $22,800 / $25,000 (includes catch-up)
457 Match          $ 0,000 / $ 0,000 (I get no match - instead I get a good pension mostly employer funded)
Roth IRA           $ 7,000 / $ 7,000
HSA                $ 2,900 / $ 4,500
Brokerage          $13,000 / $13,000
Pension contrib.   $ 2,800 / $ 5,200 (I have to contribute 5% of paycheck to pension)
Total              $48,500 / $54,700

Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on June 28, 2019, 06:51:41 AM
I missed posting an update at the end of May (too busy with life), so here is through the end of June.

2019 Goals vs. June Update
$ 19,000   /  $  9,104 -- 401k Mrs
$   8,000   /  $  4,223 -- 401k Match - won't change again until July 
$ 19,000   /  $11,063 -- 401k Mr
$   5,500   /  $  8,822 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  2,282 -- HSA Mrs - includes some employer contributions
$   1,770   /  $  1,250 -- HSA Mr - includes some employer contributions
$ 75,000   /  $53,200 -- Taxable Investments
$   6,000   /  $  3,000 -- Other Savings
$ 35,000   /  $20,500 -- Extra Principal Payments
$174,500/$113,446 -- 65%

July will be nice because my 2nd annual bonus is paid then and we are investing/savings almost all of it. I'll also get 401k match for the first 6 months of the year.
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on June 28, 2019, 08:55:33 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 6/28/2019

401k: $10106 / $19000
401k match: $7774 / $16000
SIMPLE IRA: $6800 / $13000
SIMPLE Match: $1550 / $3000
HSA: $2750 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $7774 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: (600) / $20800
529 #1: $3300 / $6600
529 #2: $3300 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $61754 / $130000    47.5%

Regular mortgage principal and low-interest college debt principal paydown: $9300 / $19000
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on June 29, 2019, 11:18:13 AM

Bucket                 GOAL |      JAN |      FEB |      MAR |      APR |      MAY |      JUN |    TOTAL |
SIMPLE IRA         $ 18,000 | $  1,095 | $  1,850 | $  1,850 | $  1,850 | $  1,850 | $  1,850 | $ 10,345 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $    500 | $    500 | $    500 | $    500 | $    500 | $    500 | $  3,000 |
Brokerage          $ 15,000 | $      0 | $      0 | $      0 | $  2,500 | $  1,500 | $      0 | $  4,000 |
Savings            $  9,000 | $ -3,000 | $  3,000 | $  2,000 | $  1,000 | $    500 | $   2000 | $  5,000 |
-----------------------------------------------------------------------------------------------------------
Total              $ 51,500 | $  4,595 | $  5,350 | $  4,350 | $  5,850 | $  4,350 | $  4,350 | $ 28,845 |
Progress                    | %    8.9 | %   10.4 | %    8.4 | %   11.4 | %    8.4 | %    8.4 | %   56.0 |


Halfway through the year, 56% of the way there. July needs to be a big month as I will hardly be bringing in any income in August.
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on June 30, 2019, 03:58:01 PM
June Update:
Bucket         Current / Goal
401k           $ 9,843 / $ 19,000
401k Match     $ 3,281 / $ 6,500
Roth IRA       $ 5,000 / $ 6,000
HSA            $ 2,000 / $ 3,500
Brokerage      $ 5,779 / $ 15,000
------------------------------------
Total         $ 25,903 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%


This year will be close. I'll slowly fall behind until December when some reimbursements for tuition come through, then I should sprint across the finish line at the last moment.
Title: Re: Save 50k single 100k couple in 2019
Post by: snoot on June 30, 2019, 05:19:11 PM
Bucket:
Roth IRA 2018
Roth IRA 2019
457b
Pension contributions
Pension employer contributions
Cash
Total:
Progress:
Goal:
$5,500
$6,000
$19,000
$4,050
$9,558
$6,000
$50,108
100%
Q1
$5,500
$5,500
$100
$1000
$2500
$0
$14,600
29.2%
Q2
$5,500
$6,000
$6,671
$2025
$4800
$0
$24,996
49.88%
Title: Re: Save 50k single 100k couple in 2019
Post by: peeps_be_peeping on July 01, 2019, 02:10:35 PM
                             YTD / Goal
401(k)                   $9,504 / $19,000
401(k) match         $3,019 / $3,420
Roth IRA                $0 / $6,000
Taxable                  $10,308 / $21,580
Cash                      $6,151 / $10,000
Total                      $28,982 / $60,000

48.30% to goal


I'm right on track to meet or exceed my goals by the end of the year!
Title: Re: Save 50k single 100k couple in 2019
Post by: SaucyAussie on July 02, 2019, 08:13:05 AM
A little behind the pace, but should have a strong second half.

401k   7542 / 19000
match  5076 / 10000
Roth   0    /  6000
HSA    2400 /  5000
Txble  7000 / 10000
Total  22018/ 50000
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on July 03, 2019, 01:01:57 PM
Halfway through the year and on track % wise.  401Ks and HSAs will automatically max by EOY so now we just have to work on filling the brokerage up.
$16K to go!

Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
March
$9,919
$1,634
$2,500
$6,000
$250
$398
$0
$20,476
April
$4,294
$1,639
$0
$0
$250
$278
$0
$6,462
May
$4,294
$2,564
$0
$0
$250
$418
$1,000
$8,526
June
$4,294
$1,730
$0
$0
$250
$278
$3,000
$9,553
Total/Goal
$30,973/$50,000
$9,201/$20,000
$6,000/$6,000
$6,000/$6,000
$2,000/$3,500
$1,693/$3,500
$4,000/$20,000
$59,867/$109,000
% Complete
61.9%
46.0%
100%
100%
57.1%
48.3%
20%
54.9%

Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on July 07, 2019, 01:49:26 PM
Epic pay cut last year; just accepted yet another new gig as of April 1 bringing my salary back up, so new goals for CY19 in order:
TSP        $19,000
457        $25,000
Pension  $13,000
Invest    $22,800
ROTH       $7,000
TOTAL  $86,800

AND to keep things interesting, we're now purchasing and remodeling another house.  Who knows how this attempt at savings this year will work out?!?

Q2 update

Bucket         Goal | Q2
TSP        $ 19,000 | $ 12,251
457        $ 25,000 | $ 12,501
Pension    $ 13,000 | $  5,652
Invest     $ 22,800 | $  6,000
Roth       $  7,000 | $  4,013
-----------------------------------------
Total      $ 86,800 | $ 40,417
Progress            | % 46.6
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on July 23, 2019, 02:34:50 AM
July update.  I'll need to replace the headliner on our 2005 Accord, but that should not cost us much if I do it myself.


HSA                  $2917 / $5000
HSA Match            $1000 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $4335 / $7405
401K Pre Tax         $2287 / $19000
Roth IRA             $5688 / $6000
Wife Roth IRA        $5688 / $6000
Mortgage Principal   $5339 / $9240
Windfall            $16900 / $16900
Wife 401K            $7072 / $13056
Wife 401K Match       $503 / $979

Total:              $81820 / $115139 (71%)
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on July 24, 2019, 11:32:23 AM
July update - now up to 76%. However, there are some expenses in Aug that will eat into my EF (which I am taking out of the savings here).
Still, so far I'm on track:

                                           Goal            Current   
Tax exempt plan:            7,200              5,001       69.5%
Savings incl. EF:           13,000            16,536    127.2%
Brokerage:                     41,500            25,428      61.3%

Total:                              61,700             46,965      76,1%

Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on July 25, 2019, 10:26:35 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 7/25/2019

401k: $11858 / $19000
401k match: $9122 / $16000
SIMPLE IRA: $7900 / $13000
SIMPLE Match: $1700 / $3000
HSA: $3280 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $9122 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $1400 / $20800
529 #1: $3850 / $6600
529 #2: $3850 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $71082 / $130000    54.7%

Regular mortgage principal and low-interest college debt principal paydown: $10850 / $19000

Will have some extra income over the next month or so, but unfortunately it's going to go toward a couple of unexpected expenses (vet bills, broken TV) and our budget-breaking vacation costs.  Still need to get the kitchen updated, too.  This game is hard!
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on July 26, 2019, 07:36:11 AM
2019 Goals vs. July Update (COUPLE)
$ 19,000   /  $10,576 -- 401k Mrs
$   8,000   /  $  8,370 -- 401k Match - that will be it for this year 
$ 19,000   /  $12,324 -- 401k Mr
$   5,500   /  $  9,243 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  2,623 -- HSA Mrs - includes some employer contributions
$   1,770   /  $  1,442 -- HSA Mr - includes some employer contributions
$ 75,000   /  $81,100 -- Taxable Investments
$   6,000   /  $  3,500 -- Other Savings
$ 35,000   /  $22,500 -- Extra Principal Payments
$174,500/$151,681 -- 87%

We took $20k from my July bonus and invested it right away.  I'm sitting on some of it to see how certain upcoming expenses shake out and I set aside some $ for taxes (just in case) because I've been unable to get an earnings breakdown from some short-term disability earnings I had in April and I just don't want any surprises at tax time.  Just playing it safe and it's not a lot of money.  We also put a little in our vacation fund which is not counted here.  We both get extra checks in August so our savings will be a little higher than usual again next month.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on July 31, 2019, 11:25:52 AM

Bucket                 GOALJAN-JUN |      JUL |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  5,500 |
Savings            $  9,000 | $  5,000 | $    500 | $  5,500 |
--------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $ 33,500 |
Progress                    | %   56.7 | %   10.3 | %   67.0 |


On track. Changed my 18k SIMPLE/401k goal to 13k.. I thought I would be able to start 401k at my new job before the end of the year and add an additional 5k onto my 13k SIMPLE, but won't happen. So no more contributions to any retirement accounts this year, only funneling post-tax money into brokerage/savings.

I will, however, contribute 6k in the first couple months of 2020 as 2019 contributions to get my 19k, then proceed to max my 2020 contributions. But none of that will happen in 2019, so changes reflected above. Still on track, but will be more difficult now that all the money is going to be after-tax.
Title: Re: Save 50k single 100k couple in 2019
Post by: PhrugalPhan on July 31, 2019, 12:02:51 PM
End of July update for me.  Finished with the 457 account for the year.  Got my first large paycheck which felt great.  I want to inflate my checking account back to where it was at the start of the year, but that should only take maybe two more pay days.  After that I may start throwing the extra into my brokerage account.  We'll see, but I will certainly have more contributions to my brokerage this year than I ever had.

Next year I can put in even more into my 457 plan due to end of career catch-up rules - up to $38,000.  Not sure if I will (I have to file special paperwork to do this), but I will have to consider it. 

As of end of June (94.4%):
Bucket             Current / Goal
457                $25,000 / $25,000 (includes catch-up)
457 Match          $ 0,000 / $ 0,000 (I get no match - instead I get a good pension mostly employer funded)
Roth IRA           $ 7,000 / $ 7,000
HSA                $ 3,245 / $ 4,500
Brokerage          $13,000 / $13,000
Pension contrib.   $ 3,411 / $ 5,200 (I have to contribute 5% of paycheck to pension)
Total              $51,656 / $54,700
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on July 31, 2019, 07:02:09 PM
July Update:
Bucket         Current / Goal
401k          $ 11,462 / $ 19,000
401k Match     $ 3,844 / $ 6,500
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 2,250 / $ 3,500
Brokerage      $ 5,904 / $ 15,000
------------------------------------
Total         $ 29,461 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
Title: Re: Save 50k single 100k couple in 2019
Post by: use2betrix on August 03, 2019, 06:26:58 AM
Hit $100k for savings on single income with yesterdayís paycheck. Iíve been working 6 days a week most the year (Iím on a day rate) and I think Iím getting ready to start taking a little more time off.
Title: Re: Save 50k single 100k couple in 2019
Post by: FireHiker on August 23, 2019, 11:16:25 AM
I will update with numbers on September 1, but since we sold our house and dramatically downsized we will be hitting our 100k savings for the first time ever this year! Looking forward to making it an annual achievement from now until we hit FIRE, which will now happen 5 years earlier. Yay for releasing the clown house. :)
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on August 26, 2019, 10:30:32 AM
August update.  On track / no news is good news.


HSA                  $3125 / $5000
HSA Match            $1000 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $4596 / $7405
401K Pre Tax         $5662 / $19000
Roth IRA             $5803 / $6000
Wife Roth IRA        $5803 / $6000
Mortgage Principal   $6114 / $9240
Windfall            $16900 / $16900
Wife 401K            $7616 / $13056
Wife 401K Match       $545 / $979

Total:              $87257 / $115139 (75%)
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on August 27, 2019, 01:11:10 PM


Goals:
Bucket              Current / Goal
401k                $ 16,667 / $ 24,500 (includes catch-up)
401k Match         $ 34,455 / $ 37,500
Roth IRA            $ 7,000 / $  7,000
Taxable Savings     $ 40,070 / $ 73,000
Sinking Fund        $ 15,560 / $ 23,000
------------------------------------
Total               $113,752 / $ 165,000

January              $ 2,593    1.57%
February            $ 35,562   21.55%
March                $45,155    27.37%
April                $47,749    28.94%
May                  $50,342    30.51%
June                 $62,935    38.14%
July                 $85,529    51.84%
August              $113,752    68.94%


Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on August 27, 2019, 01:24:18 PM

The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?



You may want to verify, but I thought that the 5 year countdown is from the first deposit/conversion.  I don't think the 5 year waiting period applies to each dollar, so I think you're fine to save in any order you want. 
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on August 27, 2019, 01:32:42 PM

Why? Dollars in the 401k are dollars in the 401k regardless of whether they are employee or employer side (disregarding vesting).

I thought the challenge was saving from your paycheck(salary) otherwise, you can include your inheritance, market gains etc

Well, you can make up your own rules for your own savings if you wish to participate but as the thread OP for this year, I disagree that matching == market gains.

For those of us in a traditional employer/employee situation, matching is part of your total compensation when you choose a job. To separate salary from other compensation doesn't seem to usefully contribute in my opinion. For those of us who are self employeed, employee = employer so it's pedantic to separate the two.

Some of us include principal payments on mortgages. Some don't. I'm not here to henpeck their decision- it's their own FIRE journey.
I remember we had a similar discussion a few years ago on this very topic. 
I'm also self-employed, so my employer contribution is subjective, based on what I don't spend...but to make things easier, I've bookmarked a few accounts that are "savings".  Anything that goes into these accounts is +savings and anything that comes out is -savings.  Makes life easier. 

My paycheck getting deposited into my checking account doesn't count as savings because I don't count my checking as a "savings" account.  My savings accounts are:  retirement/401K/IRA; Brokerage accounts; CDs; Savings; Sinking Fund (in a regular savings account, but bookmarked for some goal). 
Last year I used my sinking fund to pay for a car, in which case, I reduced my savings once I spent it.  In another year I used it to pay down a mortgage, in which case I did not reduce my savings (because that was EXTRA principal payment, for which I had saved...not merely an expense). 

But as above...the goal is to motivate and whatever works for each person is the best way.  There is no point in "competing" against anyone other than yourself.  :)
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on August 27, 2019, 04:02:32 PM



The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?



You may want to verify, but I thought that the 5 year countdown is from the first deposit/conversion.  I don't think the 5 year waiting period applies to each dollar, so I think you're fine to save in any order you want.

I used this as my reference, regarding the 5 year rules, specifically the section entitled "The Second 5-Year Rule, For Roth Conversions":

https://www.kitces.com/blog/understanding-the-two-5-year-rules-for-roth-ira-contributions-and-conversions/

If I'm misunderstanding things I'd love to know, as that means I don't have to wait as long. :)

I'm under 59.5, btw, so those other exceptions don't apply for me.

Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on August 28, 2019, 07:53:59 AM



The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?



You may want to verify, but I thought that the 5 year countdown is from the first deposit/conversion.  I don't think the 5 year waiting period applies to each dollar, so I think you're fine to save in any order you want.

I used this as my reference, regarding the 5 year rules, specifically the section entitled "The Second 5-Year Rule, For Roth Conversions":

https://www.kitces.com/blog/understanding-the-two-5-year-rules-for-roth-ira-contributions-and-conversions/

If I'm misunderstanding things I'd love to know, as that means I don't have to wait as long. :)

I'm under 59.5, btw, so those other exceptions don't apply for me.
I found that article a little bit confusing, but then realized the nuance is rollover from 401K vs. IRA.  If I understand it correctly, once you fund a Roth IRA, there's only one 5 year waiting period for any money, but when you convert from a 401K, then there is a separate 5 year rule for each conversion.  That's what I was missing (which is probably the entire point of a Roth ladder, so, bad on me for not having even the most basic understanding of it). 
Thanks for sending me this link and setting me straight! 
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on August 28, 2019, 11:57:01 AM



The main reason we max out our after tax 401k first is because then I roll it over to my Roth IRA using the mega-backdoor trick.  I like to do this earlier in the year because there's a 5 year waiting period before I can withdraw the money from the Roth.  If I first did the 401k pre-tax, then the after-tax, by the time the last deposit went into the after tax 401k it would be January of next year, meaning I'd have to wait an extra year to withdraw it from my Roth.  I guess I could do several mega-backdoor conversions per year, but each time I do, it's a $20 charge, so I'd like to minimize fees if possible.


What is the reasoning for prioritizing post-tax 401k over pre-tax?



You may want to verify, but I thought that the 5 year countdown is from the first deposit/conversion.  I don't think the 5 year waiting period applies to each dollar, so I think you're fine to save in any order you want.

I used this as my reference, regarding the 5 year rules, specifically the section entitled "The Second 5-Year Rule, For Roth Conversions":

https://www.kitces.com/blog/understanding-the-two-5-year-rules-for-roth-ira-contributions-and-conversions/

If I'm misunderstanding things I'd love to know, as that means I don't have to wait as long. :)

I'm under 59.5, btw, so those other exceptions don't apply for me.

You're close to understanding it, but you made a reference to wanting to save earlier in the year to lessen the waiting time, and that's not the rule.  It's not really a five-year-rule so much as a five-calendar-year rule.  If you do your Mega Backdoor Rollover in 2015, you can withdraw those conversions on January 1, 2020 (ok, January 2, since markets wouldn't be open).  That applies whether you converted on January 2, 2015 or December 31, 2015. 
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on August 28, 2019, 01:33:18 PM

You're close to understanding it, but you made a reference to wanting to save earlier in the year to lessen the waiting time, and that's not the rule.  It's not really a five-year-rule so much as a five-calendar-year rule.  If you do your Mega Backdoor Rollover in 2015, you can withdraw those conversions on January 1, 2020 (ok, January 2, since markets wouldn't be open).  That applies whether you converted on January 2, 2015 or December 31, 2015.

Sorry if I wasn't clear.  What I meant to say is that I wanted to:

A. Lessen the waiting time and
B. Maximize the conversion amount and
C. Pay the least in fees

Since my absolute last 401k contribution for the year will not post until very close to the end of the calendar year (let us say, December 28th), then I would then have to call up Fidelity and ask them to do a rollover to Vanguard.  Fidelity will send out a check which will take at least 5-10 days to arrive at my home.  Then I have to forward the check to Vanguard, which eventually will post by the next year.  I guess what I was thinking was that the 'conversion' 5 year clock begins when Vanguard has the money.  But, now I'm not really sure that's the case.  Anyone know?
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on August 28, 2019, 03:54:45 PM

You're close to understanding it, but you made a reference to wanting to save earlier in the year to lessen the waiting time, and that's not the rule.  It's not really a five-year-rule so much as a five-calendar-year rule.  If you do your Mega Backdoor Rollover in 2015, you can withdraw those conversions on January 1, 2020 (ok, January 2, since markets wouldn't be open).  That applies whether you converted on January 2, 2015 or December 31, 2015.

Sorry if I wasn't clear.  What I meant to say is that I wanted to:

A. Lessen the waiting time and
B. Maximize the conversion amount and
C. Pay the least in fees

Since my absolute last 401k contribution for the year will not post until very close to the end of the calendar year (let us say, December 28th), then I would then have to call up Fidelity and ask them to do a rollover to Vanguard.  Fidelity will send out a check which will take at least 5-10 days to arrive at my home.  Then I have to forward the check to Vanguard, which eventually will post by the next year.  I guess what I was thinking was that the 'conversion' 5 year clock begins when Vanguard has the money.  But, now I'm not really sure that's the case.  Anyone know?

Gotcha.  Don't know the answer to your question for sure, but I suspect it's when the rollover is completed. 
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on August 29, 2019, 08:28:50 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 8/29/2019

401k: $14380 / $19000
401k match: $11061 / $16000
SIMPLE IRA: $8800 / $13000
SIMPLE Match: $2030 / $3000
HSA: $3700 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $11061 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $7400 / $20800
529 #1: $4400 / $6600
529 #2: $4400 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $86232 / $130000    66.3%

Regular mortgage principal and low-interest college debt principal paydown: $12400 / $19000

Extra income this month, so the picture got a little brighter.

Edit: Found an extra $500 to invest after finishing the monthly budget numbers.
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on August 29, 2019, 08:00:11 PM
August Update:
Bucket         Current / Goal
401k          $ 13,081 / $ 19,000
401k Match     $ 4,407 / $ 6,500
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 2,500 / $ 3,500
Brokerage      $ 7,104 / $ 15,000
------------------------------------
Total         $ 33,093 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
August        $ 33,093   66.2%
Title: Re: Save 50k single 100k couple in 2019
Post by: FireHiker on August 30, 2019, 09:44:38 AM
Done!! We sold our house and have set aside 137k total in savings so far this year, a number which will only grow now that we've reduced our expenses so dramatically in this move. Woohoo!
Title: Re: Save 50k single 100k couple in 2019
Post by: SaucyAussie on August 30, 2019, 10:16:29 AM
Tracking Nicely.

401k     12,951.0 / 19,000.0     68.16
match     6,638.0 / 10,000.0     66.38
Roth      6,000.0 /  6,000.0    100.00
HSA       3,380.0 /  5,000.0     67.60
Taxable   7,500.0 / 10,000.0     75.00
Total    36,469.0 / 50,000.0     72.94

Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on August 31, 2019, 04:00:10 PM

Bucket                 GOALJAN-JUN |      JUL |      AUG |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  3,000 | $  8,500 |
Savings            $  9,000 | $  5,000 | $    500 | $    300 | $  5,800 |
-------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,300 | $ 36,800 |
Progress                    | %   56.7 | %   10.3 | %    6.6 | %   73.6 |


August was a good month, all things considered. No more tax-advantaged accounts for the year, all will be with hard-earned after-tax dollars. On track and feeling motivated to end the year.
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on September 01, 2019, 06:39:21 AM

Aug update - unfortunately this was a very expensive month (medical & vet bills), and I had to dip into my EF.
So, still stuck at 75%. Hopefully, all unplanned expenses are out of the way now, and I can get back on track as planned.

                                           Goal            Current   
Tax exempt plan:            7,200              5,441       75.6%
Savings incl. EF:           13,000            12,611       97.0%
Brokerage:                     41,500            28,228       68.0%

Total:                              61,700             46,280      75.0%
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on September 01, 2019, 09:35:28 AM
2019 Goals vs. August Update (COUPLE)
$ 19,000   /  $12,785 -- 401k Mrs
$   8,000   /  $  8,370 -- 401k Match - that will be it for this year 
$ 19,000   /  $14,215 -- 401k Mr
$   5,500   /  $  9,873 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  3,135 -- HSA Mrs - includes some employer contributions
$   1,770   /  $  1,730 -- HSA Mr - includes some employer contributions
$ 75,000   /  $86,700 -- Taxable Investments
$   6,000   /  $  4,000 -- Other Savings
$ 35,000   /  $27,000 -- Extra Principal Payments
$174,500/$168,911 -- 97%

A third check this month went to mostly additional investments and a little extra principle. A little bit went to vacation spending (which we used already on a trip to Scotland in the same month).  We will def. hit our original annual goal next month and are on track to exceed by quite a bit which is awesome because I'm having a very stressful time right now at work. Just need to keep reminding myself it's just for a couple more years.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on September 07, 2019, 07:33:12 AM

Bucket                 GOALJAN-JUN |      JUL |      AUG |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  3,000 | $  8,500 |
Savings            $  9,000 | $  5,000 | $    500 | $      0 | $  5,500 |
-------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,000 | $ 36,500 |
Progress                    | %   56.7 | %   10.3 | %    6.0 | %   73.0 |


August was a good month, all things considered. No more tax-advantaged accounts for the year, all will be with hard-earned after-tax dollars. On track and feeling motivated to end the year.

EDIT: whoops. meant to edit my last post but quoted instead. Accidental bump!
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on September 24, 2019, 10:17:55 AM
September update / on track.


HSA                  $3750 / $5000
HSA Match            $1000 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $5119 / $7405
401K Pre Tax         $9038 / $19000
Roth IRA             $5917 / $6000
Wife Roth IRA        $5917 / $6000
Mortgage Principal   $6891 / $9240
Windfall            $16900 / $16900
Wife 401K            $8704 / $13056
Wife 401K Match       $660 / $979

Total:              $93989 / $115139 (81%)

Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on September 27, 2019, 08:20:01 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 9/27/2019

401k: $16153 / $19000
401k match: $12426 / $16000
SIMPLE IRA: $9800 / $13000
SIMPLE Match: $2260 / $3000
HSA: $4000 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $12426 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $10400 / $20800
529 #1: $4950 / $6600
529 #2: $4950 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $96365 / $130000    74.1%

Regular mortgage principal and low-interest college debt principal paydown: $14000 / $19000

3 quarters down, just barely behind the pace.  Might make it if I can continue deferring the kitchen remodel I don't want to do...
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on September 27, 2019, 12:00:23 PM
September update - on track, but the rest of the year is now pushing it ...

                                           Goal            Current   
Tax exempt plan:            7,200              5,880       81.7%
Savings incl. EF:           13,000            12,743       98.0%
Brokerage:                     41,500            29,469       71.0%

Total:                              61,700             48,092      77.9%
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on September 28, 2019, 10:55:34 AM

Bucket                 GOALJAN-JUN |      JUL |      AUG |      SEP |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $      0 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  3,000 | $  2,500 | $ 11,000 |
Savings            $  9,000 | $  5,000 | $    500 | $      0 | $      0 | $  5,500 |
------------------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,000 | $  2,500 | $ 39,000 |
Progress                    | %   56.7 | %   10.3 | %    6.0 | %    5.0 | %   78.0 |


Overall, a pretty eh month. These last 3 months will be a fun challenge. I have no access to pre-tax contributions so I will need to average $3666 in post-tax savings each month, which will require <$800 monthly spend. Challenge accepted!!
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on October 01, 2019, 06:06:07 PM
2019 Goals vs. September Update (COUPLE)
$ 19,000   /  $14,257 -- 401k Mrs
$   8,000   /  $  8,370 -- 401k Match - that will be it for this year
$ 19,000   /  $15,476 -- 401k Mr
$   5,500   /  $10,294 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $  3,476 -- HSA Mrs - includes some employer contributions
$   1,770   /  $  1,923 -- HSA Mr - includes some employer contributions
$ 75,000   /  $91,100 -- Taxable Investments
$   6,000   /  $  4,500 -- Other Savings
$ 35,000   /  $29,300 -- Extra Principal Payments
$174,500/$178,698 -- 102%
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on October 01, 2019, 08:34:53 PM
September Update:
Bucket         Current / Goal
401k          $ 14,701 / $ 19,000
401k Match     $ 4,971 / $ 6,500
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 2,750 / $ 3,500
Brokerage      $ 8,527 / $ 15,000
------------------------------------
Total         $ 36,948 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
August        $ 33,093   66.2%
September     $ 36,948   73.9%


As expected, I'm slightly behind pace.  It will likely stay that way until December and then I'll sprint to the finish.
Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on October 09, 2019, 05:38:17 AM
Epic pay cut last year; just accepted yet another new gig as of April 1 bringing my salary back up, so new goals for CY19 in order:
TSP        $19,000
457        $25,000
Pension  $13,000
Invest    $22,800
ROTH       $7,000
TOTAL  $86,800

We've now purchased and are remodeling a new house and carrying our current house as well as prepping it for sale in the spring.  Two mortgages, remodeling costs, and fixing up the current place are not super-friendly endeavors for savings.  Any "extra" money is beefing up the accounts paying for all of the house-related costs.

We'll hopefully catch up next year once we sell our current house.  This is especially important because I've taken out all the downpayment money (and two years ago, the refinance money) from my after-tax investment account.  I'd like to plump that account back up again.

I project we'll achieve 75% of our revised savings goals for 2019.

Q3 update

Bucket         Goal | Q3
TSP        $ 19,000 | $ 17,657
457        $ 25,000 | $ 19,232
Pension    $ 13,000 | $  9,706
Invest     $ 22,800 | $  6,000
Roth       $  7,000 | $  4,033
-----------------------------------------
Total      $ 86,800 | $ 56,628
Progress            | % 65.2
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on October 22, 2019, 02:09:41 PM
October update / on track.  Passing $100k saved for the first year ever.  Roths maxed out this month too.  Yay.


HSA                  $4167 / $5000
HSA Match            $1500 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $5641 / $7405
401K Pre Tax        $12414 / $19000
Roth IRA             $6000 / $6000
Wife Roth IRA        $6000 / $6000
Mortgage Principal   $7671 / $9240
Windfall            $16900 / $16900
Wife 401K            $9792 / $13056
Wife 401K Match       $738 / $979

Total:             $100916 / $115139 (87%)
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on October 24, 2019, 07:58:49 PM
October update / on track.  Passing $100k saved for the first year ever.  Roths maxed out this month too.  Yay.

Total:             $100916 / $115139 (87%)

Congrats!
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on October 26, 2019, 08:54:58 AM

HSA                  $1874.97 / $5000
HSA Match            $1000 / $2000
401K Pre Tax           $6605.28 / $19000
401K Pre Tax Match           $3302.64 / $9500
Roth IRA              $6000 / $6000
Mortgage Principal   $4000 / $9600
Taxable Account        $3000 / $15000
2nd mortgage bulk payment from bonus: $0 / $15000



Total:              $25782.89 / $81100 (31.79%)

It looks like I had made an error in my HSA (I can contribute 5k instead of 4k). I also threw in the planned payoff for part of the 2nd mortgage we took out late 2018.

HSA                  $3960 / $5000
HSA Match            $2000 / $2000
401K Pre Tax           $18000 / $19000
401K Pre Tax Match           $9000 / $9500
401K Post-tax Tax           $1900 / $5000
Roth IRA              $6000 / $6000
Mortgage Principal   $8000 / $9600
Taxable Account        $15000 / $15000
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $63860 / $81100 (78.74%)

I won't make the target unfortunately but I should get to $73-74k. I slightly overestimated my cash bonus potential. With my 401k pretty much maxed out I will shift to post-tax 401k and ESPP for now. Added to all this are some stocks that will vest throughout the year but technically that isn't a contribution I have control over as long as I remain employed with my company. Obviously still super pleased with this result.

Edited my taxable numbers based on data vs memory.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on October 26, 2019, 10:37:01 AM

Bucket                 GOALJAN-JUN |      JUL |      AUG |      SEP |      OCT |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $      0 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $      0 | $      0 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  3,000 | $  2,500 | $      0 | $ 11,000 |
Savings            $  9,000 | $  5,000 | $    500 | $      0 | $      0 | $  3,500 | $  9,000 |
-----------------------------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,000 | $  2,500 | $  3,500 | $ 42,500 |
Progress                    | %   56.7 | %   10.3 | %    6.0 | %    5.0 | %    7.0 | %   85.0 |


Gonna be a close one!
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on October 29, 2019, 05:00:53 PM
Reporting in for October.

2019 Goals vs. October Update (COUPLE)
$ 19,000   /  $ 15,729 -- 401k Mrs
$   8,000   /  $   8,370 -- 401k Match - that will be it for this year
$ 19,000   /  $ 16,737 -- 401k Mr
$   5,500   /  $ 10,714 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$   5,230   /  $   3,818 -- HSA Mrs - includes some employer contributions
$   1,770   /  $   2,115 -- HSA Mr - includes some employer contributions
$ 75,000   /  $100,000 -- Taxable Investments
$   6,000   /  $   5,000 -- Other Savings
$ 35,000   /  $ 31,600 -- Extra Principal Payments
$174,500  /  $194,085 -- 112%

My MPP this month is realizing I won't hit exactly $19,000 on one of our 401ks because two paychecks were partially paid through my employer and partially paid through short-term-disability.  It's only around $300 but darnit! If I'm motiviated I could try to time a change in December for the last two checks, but not sure it's worth my time.

The other highlight is that we hit $100k in new investments this year so far!  Also, we  figured it's still a good idea for us to split the family up for the health plans again next year and get an HSA contribution from each of our employers.
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on October 31, 2019, 08:02:07 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 10/31/2019

401k: $18417 / $19000
401k match: $14167 / $16000
SIMPLE IRA: $10800 / $13000
SIMPLE Match: $2500 / $3000
HSA: $4550 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $14167 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $14900 / $20800
529 #1: $5500 / $6600
529 #2: $5500 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $109501 / $130000    84.2%

Regular mortgage principal and low-interest college debt principal paydown: $15500 / $19000

Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on October 31, 2019, 08:35:16 AM


Goals:
Bucket              Current / Goal
401k                $ 20,8337 / $ 24,500 (includes catch-up)
401k Match          $ 35,475 /  $ 37,500
Roth IRA            $  7,000 /  $  7,000
Taxable Savings     $ 55,070 /  $ 73,000
Sinking Fund        $ 19,450 /  $ 23,000
------------------------------------
Total               $137,829 / $ 165,000

January              $ 2,593    1.57%
February            $ 35,562    21.55%
March                $45,155    27.37%
April                $47,749    28.94%
May                  $50,342    30.51%
June                 $62,935    38.14%
July                 $85,529    51.84%
August               $113,752   68.94%
September            $122,829   74.44%
October              $137,829   85.53%


Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on October 31, 2019, 05:16:36 PM
October Update:
Bucket         Current / Goal
401k          $ 16,320 / $ 19,000
401k Match     $ 5,534 / $ 6,500
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 3,000 / $ 3,500
Brokerage      $ 9,589 / $ 15,000
------------------------------------
Total         $ 40,443 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
August        $ 33,093   66.2%
September     $ 36,948   73.9%
October       $ 40,443   80.9%
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on November 04, 2019, 11:03:39 AM
October update - overall, this is getting close.
The distribution is off, as I am bolstering my EF after lots of unplanned expenses thus year.
So I guess I will miss my investment target by a 5% margin or so.

                                           Goal            Current   
Tax exempt plan:            7,200              6,320       87.8%
Savings incl. EF:           13,000            16,079      123.7%
Brokerage:                     41,500            35,148        84.7%

Total:                              61,700             57,547      93.3%

Still, considering that it seemed a stretch, anyway, I am quite pleased so far (assuming no major disaster over the next couple of months).
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on November 25, 2019, 10:55:09 AM
November update / on track. 


HSA                  $4583 / $5000
HSA Match            $1500 / $2000
401K After Tax      $30093 / $29558
401K Employer Match  $6425 / $7405
401K Pre Tax        $15735 / $19000
Roth IRA             $6000 / $6000
Wife Roth IRA        $6000 / $6000
Mortgage Principal   $8454 / $9240
Windfall            $16900 / $16900
Wife 401K           $11968 / $13056
Wife 401K Match       $868 / $979

Total:             $108526 / $115139 (94%)
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on November 26, 2019, 11:11:39 AM
November Update:
Bucket         Current / Goal
401k          $ 17,939 / $ 19,000
401k Match     $ 6,097 / $ 6,500
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 3,250 / $ 3,500
Brokerage     $ 11,100 / $ 15,000
------------------------------------
Total         $ 44,386 / $ 50,000

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
August        $ 33,093   66.2%
September     $ 36,948   73.9%
October       $ 40,443   80.9%
November      $ 44,386   88.8%


Behind in a linear sense, but on track given expected income for December.
Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on November 26, 2019, 12:20:20 PM
2019 Goals vs. November Update (COUPLE)
$  19,000   /  $ 17,201 -- 401k Mrs
$    8,000   /  $   8,370 -- 401k Match - that will be it for this year
$  19,000   /  $ 17,998 -- 401k Mr
$    5,500   /  $ 11,135 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$    5,230   /  $   4,159 -- HSA Mrs - includes some employer contributions
$    1,770   /  $   2,308 -- HSA Mr - includes some employer contributions
$  75,000   /  $102,700 -- Taxable Investments
$    6,000   /  $   5,500 -- Other Savings
$  35,000   /  $ 33,900 -- Extra Principal Payments
$174,500  /  $203,272 -- 116%

Financial Security allows me to say 'yes' and quickly when a situation arises where you know a small donation will make a big deal to the recepient in a time of need. I'm so blessed that I could do that twice in the last week without even a moment's hesitation. Don't forget to pay it forward, my friends!

Hoping everyone flies through the end of the year and resists extraneous temptations for self indulgence.
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on November 28, 2019, 08:51:36 AM
Redid some numbers to show a true picture of my taxable contributions and might actually exceed the annual target.

HSA                  $4584 / $5000
HSA Match            $2000 / $2000 - DONE
401K Pre Tax           $19000 / $19000 - DONE
401K Pre Tax Match           $9500 / $9500 - DONE
401K Post-tax Tax           $4100 / $5000
Roth IRA              $6000 / $6000 - DONE
Mortgage Principal   $8800 / $9600
Taxable Account VG   $6500 / $ 6500 - DONE
Taxable Account ESPP $18689 / $16000 - Got a raise mid year
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $79173 / $81100 (97.62%)
Title: Re: Save 50k single 100k couple in 2019
Post by: Dicey on November 28, 2019, 09:04:56 AM
I'm no longer in the accumulation phase, so I mainly lurk on this thread. Just piping up to say congratulations to everyone who has been active on this thread. You are really making impressive progress! I look forward to some awesome recaps as the year draws to a close.
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on November 28, 2019, 10:14:33 AM
2019 Goals (for couple): $130k; $149k including normal debt paydown. 

As of 11/28/2019

401k: $19000 / $19000
401k match: $15750 / $16000
SIMPLE IRA: $12300 / $13000
SIMPLE Match: $2800 / $3000
HSA: $5000 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $15855 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $20500 / $20800
529 #1: $6050 / $6600
529 #2: $6050 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $122305 / $130000    94.1%

Regular mortgage principal and low-interest college debt principal paydown: $17100 / $19000
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on November 28, 2019, 03:59:01 PM

Bucket                 GOALJAN-JUN |      JUL |      AUG |      SEP |      OCT |      NOV |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $      0 | $      0 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $      0 | $      0 | $      0 | $  3,500 |
Brokerage          $ 18,500 | $  4,000 | $  1,500 | $  3,000 | $  2,500 | $      0 | $  5,000 | $ 16,000 |
Savings            $  9,000 | $  5,000 | $    500 | $      0 | $      0 | $  3,500 | $      0 | $  9,000 |
----------------------------------------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,000 | $  2,500 | $  3,500 | $  5,000 | $ 47,500 |
Progress                    | %   56.7 | %   10.3 | %    6.0 | %    5.0 | %    7.0 | %   10.0 | %   95.0 |


Very much on track, leaving myself a layup for December.
Title: Re: Save 50k single 100k couple in 2019
Post by: SaucyAussie on December 04, 2019, 06:53:38 AM
Made it!  With a couple paychecks to spare. 

Looking forward to the 2020 version, I have some catch-up provisions kicking in so am hoping to really stretch myself next year.

401k      17,976.0 / 19,000.0      94.61
match     10,450.0 / 10,000.0     104.50
Roth       6,000.0 /  6,000.0     100.00
HSA        4,598.0 /  5,000.0      91.96
Taxable   11,000.0 / 10,000.0     110.00
Total     50,024.0 / 50,000.0     100.05
Title: Re: Save 50k single 100k couple in 2019
Post by: rebel_quietude on December 05, 2019, 04:49:39 AM
I hit over 60k in 2018... so obviously I have to do it again.

Goals:

Bucket                      Current / Goal
401k                         $ 0,000 / $ 19,000 (not including the tiny, tiny match from work)
Roth IRA                   $ 0,000 / $  6,000
Taxable Brokerage     $ 0,000 / $ 30,000
Cash                         $0,000 / $5,000
------------------------------------
Total                         $ 0,000 / $ 60,000

We'll see how this goes...

Aaaand . . . done.

$60,925 as of 3 December, when my last 401k contribution hit. I'll hit $62,675 by 31 December.

I can't imagine believing from 18 to 27 that there would be a time I could put away $60 thousand dollars. It still boggles the mind.

That said, I may actually downgrade my goal next year. Running the numbers, saving 50k vice 60k until my next promotion doesn't impact final FIRE numbers very much, and I think it'd be a pretty significant quality of life differential.

It goes a little against the grain to go backwards . . . still considering the options.

Congrats to everyone on this thread - particularly those who just crushed your goals! My fortune cookie for you: you are a financial gurus whose good sense and dedication will reap great rewards.

Edited to say: thanks @Dicey!
Title: Re: Save 50k single 100k couple in 2019
Post by: Roots&Wings on December 05, 2019, 12:55:35 PM
Hoping to get back to $50k+ and 75% savings rate in 2019.

Roth IRA: $6k (done)
401k:      $19k (automated)
Taxable:  $26k
Total:      $51k

Done. $51k saved ytd, December still to go (entire Dec income will likely go to estimated taxes). Non-traditional savings this year included solar PV panels (5.8% return, hence considering it savings rather than expense).

The numbers in this thread are astounding. Well done!
Title: Re: Save 50k single 100k couple in 2019
Post by: dogboyslim on December 12, 2019, 12:26:16 PM
My wife just got a new job, so we have new goals for 2019.

Wife 401k contribution: - $19,000 - $19,000
Wife 401k match: $6,900 -  TBD, but will hit EOY.
Wife A/T Investments: $25,000 - $31,300
401k contribution: $19,000 - $19,000
401k match: $11,000 - $5,000 (got a bit screwed here)
DC Pension Accrual: $5,500 - $6,200
A/T Investments: $43,000 - $74,100

Total: $129,400 - $154,600

This plus debt reduction of ~$7k, but I don't count that as savings.  EDIT: Also funding 7k in HSA, but orthodontia pretty much will wipe it out, so not counting it either.

No more investing expected through year end.  We exceeded our target by quite a bit!
Title: Re: Save 50k single 100k couple in 2019
Post by: PhrugalPhan on December 12, 2019, 01:15:14 PM
End of year update for me (no more savings through the end of the year).  I went past my goal amount which is great.  My salary is a little over $100k, so a 60+% savings rate is great.  Only one more large paycheck this year and then I will be heading back to small paychecks starting in January - oh well, fun while it lasted.

If it wasn't for a pension and instead I got my employer contributions to the plan, I would have gotten an extra $18K.  The pension should turn out to be a better investment, so I am not complaining.

Next year I have some expenses coming up (car, home repair, other???) so I don't think I will be able to do this again.

As of end of Dec (111.3%):
Bucket             Current / Goal
457                $25,000 / $25,000 (includes catch-up)
457 Match          $ 0,000 / $ 0,000 (I get no match - instead I get a good pension mostly employer funded)
Roth IRA           $ 7,000 / $ 7,000
HSA                $ 4,500 / $ 4,500
Brokerage          $19,000 / $13,000 (Best year ever for the brokerage)
Pension contrib.   $ 5,395 / $ 5,200 (That was an estimate, it will actually be $5,615)
Total              $60,895 / $54,700
Title: Re: Save 50k single 100k couple in 2019
Post by: SotI on December 14, 2019, 02:53:38 AM
December update: I made the 59k goal but am ending about 9% or 5.5k below my stretch goal.
Still, it was a good race! Looking forward to 2020.

                                           Goal            Current   
Tax exempt plan:            7,200              7,200       100%
Savings incl. EF:           13,000            14,153       108.9%
Brokerage:                     41,500            34,788         83.8%

Total:                              61,700             56,141          91 %
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on December 15, 2019, 01:51:59 PM
Redid some numbers to show a true picture of my taxable contributions and might actually exceed the annual target.

HSA                  $4584 / $5000
HSA Match            $2000 / $2000 - DONE
401K Pre Tax           $19000 / $19000 - DONE
401K Pre Tax Match           $9500 / $9500 - DONE
401K Post-tax Tax           $4100 / $5000
Roth IRA              $6000 / $6000 - DONE
Mortgage Principal   $8800 / $9600
Taxable Account VG   $6500 / $ 6500 - DONE
Taxable Account ESPP $18689 / $16000 - Got a raise mid year
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $79173 / $81100 (97.62%)

Getting anxious for the end result:
HSA                  $4791 / $5000
HSA Match            $2000 / $2000 - DONE
401K Pre Tax           $19000 / $19000 - DONE
401K Pre Tax Match           $9500 / $9500 - DONE
401K Post-tax Tax           $4951 / $5000
Roth IRA              $6000 / $6000 - DONE
Mortgage Principal   $9600 / $9600 - DONE
Taxable Account VG   $6500 / $ 6500 - DONE
Taxable Account ESPP $20000 / $16000 - Got a raise mid year
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $82342 / $81100 (101.53%)
Title: Re: Save 50k single 100k couple in 2019
Post by: McStache on December 19, 2019, 08:44:08 AM
December Update:
Bucket         Current / Goal
401k          $ 19,000 / $ 19,000    <---- Done
401k Match     $ 6,660 / $ 6,500    <---- Done
Roth IRA       $ 6,000 / $ 6,000    <---- Done
HSA            $ 3,500 / $ 3,500    <---- Done
Brokerage     $ 18,331 / $ 15,000    <---- Done
------------------------------------
Total         $ 53,491 / $ 50,000    <---- Done

January        $ 3,939    7.9%
February       $ 8,420   16.8%
March         $ 11,807   23.6%
April         $ 15,337   30.7%
May           $ 22,190   44.4%
June          $ 25,903   51.8%
July          $ 29,461   58.9%
August        $ 33,093   66.2%
September     $ 36,948   73.9%
October       $ 40,443   80.9%
November      $ 44,386   88.8%
December      $ 53,491  107.0%


Done!

As expected, reimbursements this month put me over the top, though by rather a bit more than I had projected which was a nice surprise.  Next year should be a bit more steady and less lumpy.
Title: Re: Save 50k single 100k couple in 2019
Post by: afuera on December 19, 2019, 02:55:08 PM
I disappeared from this thread since June due to some difficult and expensive family issues that started around then.  We are past it now but wasn't able to quite meet the goal because of it.  Thankfully, we both received raises (a huge one for Hubs!) and were still able to get pretty close to the goal.  I hit the overall contribution limit maximum in my 401K for the first time so I'm pretty excited about that.  I might actually have to lower my contribution % next year.

Looking forward to 2020 challenge and really filling up that dang taxable account that eluded us this year.

Account
L 401K:
J 401K:
L rIRA:
J rIRA:
L HSA:
J HSA: 
Brokerage: 
Total:
January
$4,086
$1,634
$2,000
$0
$750
$42.34
$0
$8,514
February
$4,086
$1,634
$1,500
$0
$250
$278.46
$0
$7,750
March
$9,919
$1,634
$2,500
$6,000
$250
$398
$0
$20,476
April
$4,294
$1,639
$0
$0
$250
$278
$0
$6,462
May
$4,294
$2,564
$0
$0
$250
$418
$1,000
$8,526
June
$4,294
$1,730
$0
$0
$250
$278
$3,000
$9,553
Total/Goal
$56,000/$50,000
$22,400/$20,000
$6,000/$6,000
$6,000/$6,000
$3,500/$3,500
$3,485/$3,500
$4,000/$20,000
$101,750/$109,000
% Complete
112%
112%
100%
100%
100%
99.5%
20%
93.3%

Title: Re: Save 50k single 100k couple in 2019
Post by: Need2Save on December 23, 2019, 06:25:32 AM
2019 Goals vs. Year End Update (COUPLE)
$  19,000   /  $ 18,695 -- 401k Mrs
$    8,000   /  $   8,370 -- 401k Match - that will be it for this year
$  19,000   /  $ 19,000 -- 401k Mr
$    5,500   /  $ 11,555 -- 401k Match Mr - includes profit sharing of $5k (Mar '19)
$    5,230   /  $   4,500 -- HSA Mrs - includes some employer contributions
$    1,770   /  $   2,500 -- HSA Mr - includes some employer contributions
$  75,000   /  $105,400 -- Taxable Investments
$    6,000   /  $   6,000 -- Other Savings
$  35,000   /  $ 36,300 -- Extra Principal Payments
$174,500  /  $212,321 -- 122%

Overall excellent year. We stayed on track and we were able to pay for a few things that came up without any problem or affecting our savings strategies.

Congrats to everyone that met their goals or met sub-goals for the first time.
Title: Re: Save 50k single 100k couple in 2019
Post by: philli14 on December 25, 2019, 10:42:53 AM

Bucket                 GOALJAN-JUN |      JUL |      AUG |      SEP |      OCT |      NOV |      DEC |    TOTAL |
SIMPLE IRA         $ 13,000 | $ 10,345 | $  2,655 | $      0 | $      0 | $      0 | $      0 | $      0 | $ 13,000 |
Roth IRA           $  6,000 | $  6,000 | $      0 | $      0 | $      0 | $      0 | $      0 | $      0 | $  6,000 |
HSA                $  3,500 | $  3,000 | $    500 | $      0 | $      0 | $      0 | $      0 | $      0 | $  3,500 |
Brokerage          $ 18,000 | $  4,000 | $  1,500 | $  3,000 | $  2,500 | $      0 | $  5,000 | $  3,000 | $ 19,000 |
Savings            $  9,500 | $  5,000 | $    500 | $      0 | $      0 | $  3,500 | $      0 | $    500 | $  9,500 |
---------------------------------------------------------------------------------------------------------------------
Total              $ 50,000 | $ 28,345 | $  5,155 | $  3,000 | $  2,500 | $  3,500 | $  5,000 | $  3,500 | $ 51,000 |
Progress                    | %   56.7 | %   10.3 | %    6.0 | %    5.0 | %    7.0 | %   10.0 | %    7.0 | %  102.0 |


Going to go ahead and close the book on the year. Very happy with the year. Thanks for setting up the challenge!
Title: Re: Save 50k single 100k couple in 2019
Post by: Arbitrage on December 28, 2019, 08:40:06 AM
Final numbers are in!

2019 Goals (for couple): $130k; $149k including normal debt paydown. 

EOY 2019

401k: $19000 / $19000
401k match: $16688 / $16000
SIMPLE IRA: $13000 / $13000
SIMPLE Match: $3378 / $3000
HSA: $5500 / $5500
HSA Match: $1500 / $1500
Backdoor Roth IRA: $6000 / $6000
Mega Backdoor Roth: $16688 / $16000
I Bonds: $10000 / $10000
Taxable Brokerage: $24800 / $20800
529 #1: $6600 / $6600
529 #2: $6600 / $6600
Extra Mortgage Principal: $1500 / $6000

Total: $131254 / $130000    101.0%

Regular mortgage principal and low-interest college debt principal paydown: $18500 / $19000

Whew!  Guess the goal was spot on, thanks to a kitchen remodel delayed/canceled. 
Title: Re: Save 50k single 100k couple in 2019
Post by: linuxhero on December 31, 2019, 02:01:34 PM
December / EOY update.

I didn't quite calculate out the employer matches correctly for both me and the wife, but we still hit our final target number at least.

A lowering of interest rates will cause my pension to shoot up at least $50k tomorrow; plan is to work until March 2020 (when the annual bonus is paid), then it might be time for me to stop working.  After working at the same company for the past 19 years (I'm 43) and having 2 young kids, it's a bit of a big decision to quit something that is 'easy money', but I am getting quite bored.

This may be the last year I get to join this challenge, but it was the first time our family made it over the $100k mark, so gonna go pick up a 6 pack on the way home to celebrate.

Congratulations to everyone who tried the challenge and be proud of yourselves.  :)  Cheers!


HSA                  $5000 / $5000
HSA Match            $2000 / $2000
401K After Tax      $30095 / $29558
401K Employer Match  $6948 / $7405
401K Pre Tax        $19000 / $19000
Roth IRA             $6000 / $6000
Wife Roth IRA        $6000 / $6000
Mortgage Principal   $9240 / $9240
Windfall            $16900 / $16900
Wife 401K           $13056 / $13056
Wife 401K Match       $936 / $979

Total:             $115175 / $115139 (100.03%)  <-- Hehe, barely made it
Title: Re: Save 50k single 100k couple in 2019
Post by: ItsALongStory on January 01, 2020, 09:10:29 PM
Getting anxious for the end result:
HSA                  $4791 / $5000
HSA Match            $2000 / $2000 - DONE
401K Pre Tax           $19000 / $19000 - DONE
401K Pre Tax Match           $9500 / $9500 - DONE
401K Post-tax Tax           $4951 / $5000
Roth IRA              $6000 / $6000 - DONE
Mortgage Principal   $9600 / $9600 - DONE
Taxable Account VG   $6500 / $ 6500 - DONE
Taxable Account ESPP $20000 / $16000 - Got a raise mid year
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $82342 / $81100 (101.53%)

HSA                  $5000 / $5000
HSA Match            $2000 / $2000
401K Pre Tax           $19000 / $19000
401K Pre Tax Match           $9500 / $9500
401K Post-tax Tax           $5962 / $5000
Roth IRA              $6000 / $6000
Mortgage Principal   $9600 / $9600
Taxable Account VG   $6500 / $ 6500
Taxable Account ESPP $20000 / $16000 - Got a raise mid year
2nd mortgage bulk payment from bonus: $0 / $15000 => Decided against this and instead we are investing in taxable.

Total:              $83562 / $81100 (103.03%)

Super stoked about this result, excited for 2020
Title: Re: Save 50k single 100k couple in 2019
Post by: BlueHouse on January 02, 2020, 08:54:58 AM

Goals:
Bucket              Current / Goal
401k                $ 25,000 / $ 24,500 (includes catch-up)
401k Match          $ 36,495 /  $ 37,500
Roth IRA            $  7,000 /  $  7,000
Taxable Savings     $ 55,070 /  $ 73,000
Sinking Fund        $ 23,340 /  $ 23,000
------------------------------------
Total               $146,905 / $ 165,000

January              $ 2,593    1.57%
February            $ 35,562    21.55%
March                $45,155    27.37%
April                $47,749    28.94%
May                  $50,342    30.51%
June                 $62,935    38.14%
July                 $85,529    51.84%
August               $113,752   68.94%
September            $122,829   74.44%
October              $137,829   85.53%
November            $142,367    86.28%
December             $146,8905   89.03%



I'm not unhappy with this outcome.  I ended up having to take $115K from my savings to help out my mom and get her into a CCRC. I didn't mark that as a negative in savings for this year, but I did stop contributing to my taxable savings account in November and December. 

I'll set a similar goal for next year and the savings will start to replenish what I took from my balance. 
Title: Re: Save 50k single 100k couple in 2019
Post by: ToughMother on January 02, 2020, 10:02:13 AM
We've purchased and are doing a major remodel of a new house. Meanwhile, we are carrying our current house as well as prepping it for sale in late spring. Two mortgages, remodeling costs, and fixing up the current place are not super-friendly endeavors for savings. Any "extra" money is beefing up the accounts paying for all of the house-related costs.

We'll hopefully catch up once we sell our current house. This is important because I've taken out all the downpayment money (and two years ago, the refinance money) from my after-tax investment account. We'll also be dipping into this account for additional remodeling money. I'd like to plump that account back up again.

Q4 final

Bucket         Goal | Q4
TSP        $ 19,000 | $ 19,000
457        $ 25,000 | $ 25,000
Pension    $ 13,000 | $ 13,193
Invest     $ 22,800 | $  6,000
Roth       $  7,000 | $  6,000
-----------------------------------------
Total      $ 86,800 | $ 69,193
Progress            | % 79.7
Title: Re: Save 50k single 100k couple in 2019
Post by: snoot on January 02, 2020, 10:29:44 AM
Didn't quite make it this year. Ended up needing the cash to purchase a used car when the old one died. Still my biggest year yet! Congrats to everyone who made it!

Bucket:
Roth IRA 2018
Roth IRA 2019
457b
Pension contributions
Pension employer contributions
Cash
Total:
Progress:
Goal:
$5,500
$6,000
$19,000
$4,050
$9,558
$6,000
$50,108
100%
Current
$5,500
$6,000
$19,000
$4050
$9558
$0
$44,108
88%
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