Author Topic: Save 50k single 100k couple in 2019  (Read 17840 times)

Dicey

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Re: Save 50k single 100k couple in 2019
« Reply #150 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.

Arbitrage

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Re: Save 50k single 100k couple in 2019
« Reply #151 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

philli14

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Re: Save 50k single 100k couple in 2019
« Reply #152 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.

SaucyAussie

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Re: Save 50k single 100k couple in 2019
« Reply #153 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

rebel_quietude

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Re: Save 50k single 100k couple in 2019
« Reply #154 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!
« Last Edit: December 05, 2019, 04:54:53 AM by rebel_quietude »

Roots&Wings

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Re: Save 50k single 100k couple in 2019
« Reply #155 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!

dogboyslim

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Re: Save 50k single 100k couple in 2019
« Reply #156 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!

PhrugalPhan

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Re: Save 50k single 100k couple in 2019
« Reply #157 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
« Last Edit: December 12, 2019, 01:17:17 PM by PhrugalPhan »

SotI

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Re: Save 50k single 100k couple in 2019
« Reply #158 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 %

ItsALongStory

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Re: Save 50k single 100k couple in 2019
« Reply #159 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%)

McStache

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Re: Save 50k single 100k couple in 2019
« Reply #160 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.

afuera

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Re: Save 50k single 100k couple in 2019
« Reply #161 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%


Need2Save

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Re: Save 50k single 100k couple in 2019
« Reply #162 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.

philli14

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Re: Save 50k single 100k couple in 2019
« Reply #163 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!

Arbitrage

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Re: Save 50k single 100k couple in 2019
« Reply #164 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. 

linuxhero

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Re: Save 50k single 100k couple in 2019
« Reply #165 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

ItsALongStory

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Re: Save 50k single 100k couple in 2019
« Reply #166 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

BlueHouse

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Re: Save 50k single 100k couple in 2019
« Reply #167 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. 
« Last Edit: January 02, 2020, 10:52:49 AM by BlueHouse »

ToughMother

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Re: Save 50k single 100k couple in 2019
« Reply #168 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
« Last Edit: January 02, 2020, 10:09:36 AM by ToughMother »

snoot

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Re: Save 50k single 100k couple in 2019
« Reply #169 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%
[/quote]