Author Topic: Save 50k single 100k couple in 2019  (Read 17875 times)

peeps_be_peeping

  • 5 O'Clock Shadow
  • *
  • Posts: 91
Re: Save 50k single 100k couple in 2019
« Reply #100 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!

SaucyAussie

  • Stubble
  • **
  • Posts: 204
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #101 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

afuera

  • Bristles
  • ***
  • Posts: 455
  • Age: 28
  • Location: Houston, TX
Re: Save 50k single 100k couple in 2019
« Reply #102 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%


ToughMother

  • Stubble
  • **
  • Posts: 241
  • Location: Western Mass.
Re: Save 50k single 100k couple in 2019
« Reply #103 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

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #104 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%)

SotI

  • Stubble
  • **
  • Posts: 127
Re: Save 50k single 100k couple in 2019
« Reply #105 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%


Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #106 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!

Need2Save

  • Bristles
  • ***
  • Posts: 335
  • Location: Maryland (USA)
Re: Save 50k single 100k couple in 2019
« Reply #107 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.

philli14

  • Bristles
  • ***
  • Posts: 262
Re: Save 50k single 100k couple in 2019
« Reply #108 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.
« Last Edit: August 05, 2019, 08:44:13 AM by philli14 »

PhrugalPhan

  • Stubble
  • **
  • Posts: 217
  • Age: 58
  • Location: No. VA
Re: Save 50k single 100k couple in 2019
« Reply #109 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
« Last Edit: December 12, 2019, 12:33:57 PM by PhrugalPhan »

McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #110 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%

use2betrix

  • Handlebar Stache
  • *****
  • Posts: 2084
Re: Save 50k single 100k couple in 2019
« Reply #111 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.

FireHiker

  • Handlebar Stache
  • *****
  • Posts: 1141
  • Location: So Cal
Re: Save 50k single 100k couple in 2019
« Reply #112 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. :)

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #113 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%)

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 3423
  • Location: WDC
Re: Save 50k single 100k couple in 2019
« Reply #114 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%


« Last Edit: August 27, 2019, 01:21:41 PM by BlueHouse »

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 3423
  • Location: WDC
Re: Save 50k single 100k couple in 2019
« Reply #115 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. 

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 3423
  • Location: WDC
Re: Save 50k single 100k couple in 2019
« Reply #116 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.  :)

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #117 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.


BlueHouse

  • Magnum Stache
  • ******
  • Posts: 3423
  • Location: WDC
Re: Save 50k single 100k couple in 2019
« Reply #118 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! 

Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #119 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. 

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #120 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?

Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #121 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. 

Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #122 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.
« Last Edit: August 29, 2019, 08:15:34 PM by Arbitrage »

McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #123 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%

FireHiker

  • Handlebar Stache
  • *****
  • Posts: 1141
  • Location: So Cal
Re: Save 50k single 100k couple in 2019
« Reply #124 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!

SaucyAussie

  • Stubble
  • **
  • Posts: 204
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #125 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


philli14

  • Bristles
  • ***
  • Posts: 262
Re: Save 50k single 100k couple in 2019
« Reply #126 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.

SotI

  • Stubble
  • **
  • Posts: 127
Re: Save 50k single 100k couple in 2019
« Reply #127 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%

Need2Save

  • Bristles
  • ***
  • Posts: 335
  • Location: Maryland (USA)
Re: Save 50k single 100k couple in 2019
« Reply #128 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.

philli14

  • Bristles
  • ***
  • Posts: 262
Re: Save 50k single 100k couple in 2019
« Reply #129 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!

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #130 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%)


Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #131 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...

SotI

  • Stubble
  • **
  • Posts: 127
Re: Save 50k single 100k couple in 2019
« Reply #132 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%

philli14

  • Bristles
  • ***
  • Posts: 262
Re: Save 50k single 100k couple in 2019
« Reply #133 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!!

Need2Save

  • Bristles
  • ***
  • Posts: 335
  • Location: Maryland (USA)
Re: Save 50k single 100k couple in 2019
« Reply #134 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%

McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #135 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.

ToughMother

  • Stubble
  • **
  • Posts: 241
  • Location: Western Mass.
Re: Save 50k single 100k couple in 2019
« Reply #136 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

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #137 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%)

McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #138 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!

ItsALongStory

  • Bristles
  • ***
  • Posts: 492
  • Location: Western US
Re: Save 50k single 100k couple in 2019
« Reply #139 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.
« Last Edit: October 26, 2019, 02:08:01 PM by ItsALongStory »

philli14

  • Bristles
  • ***
  • Posts: 262
Re: Save 50k single 100k couple in 2019
« Reply #140 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!

Need2Save

  • Bristles
  • ***
  • Posts: 335
  • Location: Maryland (USA)
Re: Save 50k single 100k couple in 2019
« Reply #141 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.

Arbitrage

  • Pencil Stache
  • ****
  • Posts: 728
Re: Save 50k single 100k couple in 2019
« Reply #142 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


BlueHouse

  • Magnum Stache
  • ******
  • Posts: 3423
  • Location: WDC
Re: Save 50k single 100k couple in 2019
« Reply #143 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%



McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #144 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%

SotI

  • Stubble
  • **
  • Posts: 127
Re: Save 50k single 100k couple in 2019
« Reply #145 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).

linuxhero

  • 5 O'Clock Shadow
  • *
  • Posts: 70
  • Location: Raleigh, NC
Re: Save 50k single 100k couple in 2019
« Reply #146 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%)

McStache

  • Stubble
  • **
  • Posts: 223
Re: Save 50k single 100k couple in 2019
« Reply #147 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.

Need2Save

  • Bristles
  • ***
  • Posts: 335
  • Location: Maryland (USA)
Re: Save 50k single 100k couple in 2019
« Reply #148 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.

ItsALongStory

  • Bristles
  • ***
  • Posts: 492
  • Location: Western US
Re: Save 50k single 100k couple in 2019
« Reply #149 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%)