Women in Red SAVERS 2020

[paynointerest]

Sept 28, 2020 14:29:08 GMT -5 debthaven said:

ETA: paynointerest I may have the terminology wrong ... to me, teaching remotely = teaching on Zoom. Since I teach English my classes are all only "interactive". I don't give lectures, so I don't have the option of recording lectures.  

Here there is also what they call synchronous and asynchronous teaching. I'm wondering if that's what you mean. What I meant was, doing my class on Zoom rather than in person.

I definiitely agree that in person is best!!! But having half the class in class while the other half is on Zoom is the worst of both worlds IMO. 

Debthaven, sorry if I made it confusing.  I was trying to say what you wrote.  I'm teaching Remote, Synchronously meaning I am teaching only via  Zoom and meet with the class, via Zoom, during my scheduled class meeting times.  Because I have built in more class activities during my scheduled time with the students, I've had to record some of the content for the students to watch ahead of time. 

I knew it would be very challenging to teach students on Zoom and in person at the same -- and avoided that approach.  The faculty I know who are doing this are telling me that the majority of the students attend via Zoom anyway (especially for the 8 am and 9 am classes).  I'm also hearing horror stories about the failed technology that is adding to the frustration.

[Saving4Norway]

Month	2020 Goals	Saved	% Met
So far this year	$18,003	$19,400	108%
B of October	2000	3000	150%
E of October	1	0	0%
B of November	2000	0	0%
E of November	1	0	0%
B of December	2000	0	0%
E of December	1	0	0%
TOTAL	$24,006	$22,400	93%

Saving4Norway 10/3/20 $22,400 (Goal $24,006)
 

[speechchick71]

Update


Speechchick, 9/30/2020, $30,487 (Goal $28,500)

	Goal	Amount Saved 8/1/2020	% Saved	Roses
403b	17,000	12837	75.51%
Roth IRA	5,500	12000	218.18%
Car expenses	4,000	3400	85%
General Savings	2,000	2250	112.5%
Total	28,500	30487	106.97%

I only have 7 more paychecks to meet that 403b goal and I think I'll make it. 

Did any of you ever watch the Biggest Loser? They made predictions about who would win based on their finances. The idea was that people who made plans for saving and such were better at planning their food and workouts and were more likely to win. Since I rejoined the Savers, and mainly since June, I have lost 20lbs! I have been scheduling my money better and scheduling my workouts/food better and boom! It WORKS!

That's my positive post for the day. 

Carry on

[paynointerest]

UPDATE! September 29, 2020

My supersaving mode is still in effect.

With the side teaching gig that DH and I have, we were paid extra this month and I contributed an additional $5K to my 457b account.  I'll have it maxed out with the next paycheck! Our spending has dropped a lot since we both are working so much and we don't travel due to Covid and our busy work lives.

Pay-no-interest: $70,150.00 (Goal: $71,000)

	Goal	Saved	% of Goal	Amt Spent
My 403b	$19,500	$19,500	100%
My 457b	$19,000	$17,600	93%
Tax Invest Acct	$6,000	$7,300	122%
Property taxes	$4,750	$4,750	106%	$4,750
DH2020 Roth	$6,000	$6,000	100%
MY2020 Roth	$6,000	$6,000	100%
DH 403b	$10,000	$11,000	110%
Total	$71,000	$70,150	99%

We are in week 6 of the semester and I can tell my students are feeling it. Taking classes by Zoom is really hard, especially with a 15 to 17 credit load.  I hope they can push through until Thanksgiving.

[seriousthistime]

Seriousthistime [3], 9/30/20, $21,000 (Goal $28,000) 75.0%

Getting there! 

debthaven , I will consider your questions and answer them tomorrow. They are good questions. 

[Rukh O'Rorke]

UPDATE! Rukh O'Rorke [1] 10/02/2020


2020 goals: $33,424.02  (Start=$0 / Goal=$43,600)

                                            

Saving Goals for 2020

Account	Goal	Added	Saved	Percent
401k	$26,000	$1,424.75	$17,577.82	68%
HSA	$7,600	$292.31	$5,846.20	77%
EF:MM	$5,000	0	$5,000.00	100%
EF:ETFs	$5,000	0	$5,000.00	100%
Total	$43,600	$1,717.06*2	$33,424.02	77%

continuing on plan to max 401k by year's end, 6 more paychecks to go.....


Rukh O'Rorke [2]  Multiyear EF Goal

$20,265.09 (Start=$500 / Goal=$20,000)

have met EF goal but haven't removed my autocontribute as yet.....I will leave it and I will soon be using some.....if I can get my act together to start up some household stuff.....

[seriousthistime]

Sept 28, 2020 16:32:08 GMT -5 Rukh O'Rorke said:

Sept 27, 2020 15:47:10 GMT -5 debthaven said:

I have a question for seriousthistime  , forwardwego and anyone else who is retired or will soon retire, but I don't want to derail this thread. Also hope to hear from  paynointerest because teaching remotely was a major goal well before Covid (maybe she's psychic?!)

I will be eligible to retire in 15 months, at 62. But I'll get a bigger pension for every year I keep working up to age 67. 

I do NOT plan to continue to 67. But I'm wondering if I shouldn't continue to 64 or 65, especially with the state of things today. Not much opportunity to travel these days. 

If you had/had had the option of working part time, (ie two or three days/ week) would you prefer/have preferred to continue working?  

I work 4 days/week, but I work a LOT more hours than what is considered full-time for a university adjunct here.

I'm considering working past 62, but reducing my hours (ie going down from 4 to 3 days for a year or two, then 3 to 2 days for a year or two, etc.) instead.

Any thoughts?

I plan to start a thread on YM about this, but I wanted to hear your thoughts. :-)

PS My DH always says he'll retire when he's dead. DH is a graphic designer, so he can truly work from anywhere in the world as long as he has an internet connection. So there's that too. Although he does work when we go away, it's never (or rarely) disruptive. 

how would that impact your travel plans? are you anticipating remote being more of an option going forward?

If the pandemic is still affecting world travel in 15 months - seems an easy yes to continue working but scaling back a bit. If travel is open, how much would 2/3 days a week affect longer trips?

Or - what is it you really want to do when you retire? And how would the additional money factor in? is it just more is safer? or will it really boost your enjoyment/security throughout retirement?

It's funny you ask. 

When I told my supervisor I was retiring, he said maybe I'd be interested in coming back as a senior (i.e., retired, part time hourly) consultant.  I thought they ended that program for good but he thought they might bring it back in a year or two. I said I'd consider it.

Then a special assignment was made available to all of us, to work for a sister organization for a year.  I passed on that because I did not want to spend my last year working to learn the ropes and intricacies of a new organization while having to crank out full time results. But now I hear that organization is looking to add positions for senior consultants. So I am pursuing it, and we'll see where it goes.  

It would not tie me down.  The senior consultant position would have us be working independently, 100% remote, with no rigid schedule.  If I wanted to take two weeks off, I could.  If I wanted to travel and bring my laptop, I could do that too.  So I don't know that I'd want to be tied to a set schedule, but I would definitely consider some sort of paid work in my field if the right opportunity comes along. 

[debthaven]

Serious that sounds perfect! I would be tied to the school calendar of course, but I think that sounds like a great opportunity since you could take time off and/or work remotely. You could try it, and stop if it doesn't align with your goals. 

[seriousthistime]

Update!

Stars	Name		Amount Saved	Goal	% Saved	Roses	Smilies
	azucena		$21,728	$30,000	72.4%
	bobosensei		$7,786	$25,430	30.6%
	debthaven		7,551€	10,000€	75.5%
	finnime [1]		$0	$0	0.0%
	finnime [2]		$1,000	$18,500	5.4%
	flamingo		$9,418	$13,000	72.4%
	forwardwego		$10,290	$15,000	68.6%
	idlechatter		$24,062	$30,000	80.2%
	jenpen		$45,007	$48,550	93.0%
	minnesotapaintlady		$24,994	$26,000	96.1%
	nikiz628		$4,897	$5,050	97.0%
	paynointerest		$70,150	$71,000	98.8%
	plugginaway22		$23,901	$12,000	199.2%
	resolution		$32,700	$35,000	93.4%
	Rukh O'Rorke		$33,424	$43,600	76.7%
	Rukh O'Rorke [2]		$20,265	$20,000	101.3%
	Saving4Norway		$22,400	$24,006	93.3%
	seriousthistime		$30,534	$30,478	100.1%
	seriousthistime [2]		$10,000	$10,000	100.0%
	seriousthistime [3]		$21,000	$28,000	75.0%
	shanendoah [Q1]		$6,537	$5,040	129.7%
	shanendoah [Q2]		$5,475	$2,500	219.0%
	shanendoah [Q3]		$6,500	$4,500	144.4%
	snapdragon		$8,507	$9,500	89.5%
	speechchick71		$30,487	$28,500	107.0%
	steph08		$23,312	$32,600	70.1%
	teachermom		$6,379	$75,000	8.5%
	tobinikui		$45,792	$96,940	47.2%

As always, let me know if your numbers, stars, bananas, and smilies are not correct.

As I was generating this list, I was thinking how COVID has really shown us how to save -- because we are staying home more, don't have as many opportunities to spend, and we are really hunkering down and figuring out what is important to us and what is not. We are finding new ways to find satisfaction and happiness in our lives that don't involve spending money. 

Some Savers have been here since before I started to save.  Others are new, or new-ish Savers.  And I think this is so great, that people are finding a "community of strangers" with whom we share a common goal despite our many differences in real life, and who cheer each other all the way.  

Thank you for being here.  I think I speak for forwardwego as well, we appreciate you!  

[forwardwego]

Yes seriousthistime I appreciate our fellow savers too. And though we are "strangers", we have a bond & are committed to making choices that will establish a measure of security for now and the future. The COVID intrusion is certainly not what we needed, but as people of a savings mindset we are turning the lemons into lemonade

[forwardwego]

Fellow WIR Savers: I'm going to do combined September/October Shoutouts.  

[snapdragon]

Snapdragon Update 9-05-20 - $8582.14 / $9500

Car/House $ 4079.44 / $5000

Savings $ 4502.70/ $4500

New Totals $ 8582.14 / $9500




The house is still active. Hoping for some action by the middle of the month. 

Everyone keep plugging along. 

[azucena]

Sept 18, 2020 7:56:25 GMT -5 azucena said:

Aug 28, 2020 13:24:08 GMT -5 azucena said:

Looks like I didn't update 10/2 when I was able to deposit $1238.

Today deposited 475.

Fighting myself on replacing the carpet with laminate or luxury vinyl.  Quote for 3 bedrooms and 1000 square feet of basement was $12k.  Which is more than I want to take from savings.  To be clear, our overall liquid savings is approaching $100k when we include the $23k saved this year.  Part of the mental block is meeting that goal LOL.  I will likely start a new thread in YM to ponder.

10/2 Azucena $23,441 of $30,000 goal (78%)

[shanendoah]

shanendoah [Q4]: $800 10/9/2020 (Goal: $10,500 12/31/2020)
ROTH C[Q4]: $0 10/09/2020 (Goal: $3,000 12/31/2020)
ROTH S [Q4]: $0 10/09/2020 (Goal: $6,000 12/31/2020)
Savings [Q4]: $800 10/9/2020 (Goal: $1,500 12/31/2020)

Our total liquid savings is up to over $17k. We bought a new car complete with prepaid service and 10 year warranty this year, so now, we only need $2,500 dedicated to the car in savings (covers a full year of insurance and deductibles). That means the other money gets mentally reassigned to future goals. I've upped the monthly contributions on C's ROTH so that this year is fully funded in December (instead of next March) and starting in January we are funding his 2021 ROTH. And given that we also just refinanced the house (again) and will be getting some money back from the escrow accounts there, I expect to be able to fully fund a ROTH for me for 2020. 
We also now have $2k in investment accounts, which we didn't have last year.
I am super excited by the progress we have made this year.




[Q1]: $7,037.28 3/25/2020 (Goal: $5,040 3/31/2020)
[Q2]: $5,475 6/25/2020 (Goal: $2,500 6/30/2020)
[Q3]: $6,500 9/25/2020 (Goal: $4,500 9/30/2020)

[nikiz628]

Sept 3, 2020 23:04:47 GMT -5 nikiz628 said:

Jul 30, 2020 21:20:24 GMT -5 nikiz628 said:

UPDATE 10/12/2020

2020 Savings	START	CURRENT	GOAL	STILL NEED
Emergency Fund	$1,000.00	$2,000.00	$2,000.00	goal met 5/28/20
DS1's Savings	$1,960.29	$2,181.78	$2,200.00	18.22
DS2's Savings	$734.55	$850.00	$850.00	GOAL MET 10/12/20
Totals	$3,694.84	$5,031.78	$5,050.00	18.22

NikiZ628 10/12/2020 $5,031.78 (Goal $5,050.00 WIRS2)

[snapdragon]

The house is now off the market!

The inspection was done Monday and I agreed to the Buyer's requests. I would prefer to let this place go so it can be enjoyed by another person/family. I liked being there when family was alive. Now not so much. I give the key's the week before Thanksgiving. I have enough time to actually pack and do next steps. 

Still having to deal on the rest of the estate/probate but I have really good people helping me with that.

[Rukh O'Rorke]

UPDATE! Rukh O'Rorke [1] 10/16/2020


2020 goals: $35,141.08  (Start=$0 / Goal=$43,600)

                                            

Saving Goals for 2020

Account	Goal	Added	Saved	Percent
401k	$26,000	$1,424.75	$19,002.57	73%
HSA	$7,600	$292.31	$6,138.51	81%
EF:MM	$5,000	0	$5,000.00	100%
EF:ETFs	$5,000	0	$5,000.00	100%
Total	$43,600	$1,717.06	$35,141.08	81%

continuing on plan to max 401k by year's end, 6 5! more paychecks to go.....


Rukh O'Rorke [2]  Multiyear EF Goal

$20,515.09 (Start=$500 / Goal=$20,000)

Leaving my autocontribute as is as long as I can.....so far have not used any......

[seriousthistime]

Seriousthistime [3], 10/16/20, $23,050 (Goal $28,000) 82.3%

Retirement still on track for December 31.  I'm fighting a serious case of "I wanna play hooky" every day. 

[forwardwego]

10/19/2020 $12,350 (begin $3200; goal $15,000)

  

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	1000	100	1000	100
RENTAL MARGIN	8000	2100	7500	93	500
PERIODIC EXPENSE	5000	1000	3805	76	1195
CASH STASH	1000	0	45	4	955
TOTALS	15000	3200	12350	82	2650

Keep up the good work Saver Friends. 

Rental Margin Account will be dropping significantly. We gave the tenant notice to vacate, and we are sprucing up to sell since values are up in our area. 

[seriousthistime]

forwardwego, it sounds like the time is right to sell the rental house. What's your plan once it's sold?  Will you bank the cash or do you have other plans for the money?  How will you feel about not being a landlord anymore? 

[forwardwego]

Oct 20, 2020 7:54:35 GMT -5 seriousthistime said:

forwardwego , it sounds like the time is right to sell the rental house. What's your plan once it's sold?  Will you bank the cash or do you have other plans for the money?  How will you feel about not being a landlord anymore? 

As "they" say, the best time to sell is when you have a buyer. And in our area houses seem to be selling quickly, especially entry level houses. I'll have expenses of getting the house ready, and I upgraded my car. After paying back those amounts (to our HELOC), I'll bank the balance and financially let my mind rest for a little while. Oh, and Uncle Sam will want a chunk. 

I've enjoyed having passive income, though most has gone back into the property. It would be more accurately called a passive building of net worth.  DH has never embraced being a landlord, and it's begun to feel like a burden to me. DS and DDIL are teaming up with me on the work that the house needs to realize a good sale price. They are good teammates for me. I have asked them to lead the charge and let me be an assistant, and even establishing that has been helpful. 

[seriousthistime]

Oct 21, 2020 19:09:58 GMT -5 forwardwego said:

Oct 20, 2020 7:54:35 GMT -5 seriousthistime said:

forwardwego , it sounds like the time is right to sell the rental house. What's your plan once it's sold?  Will you bank the cash or do you have other plans for the money?  How will you feel about not being a landlord anymore? 

As "they" say, the best time to sell is when you have a buyer. And in our area houses seem to be selling quickly, especially entry level houses. I'll have expenses of getting the house ready, and I upgraded my car. After paying back those amounts (to our HELOC), I'll bank the balance and financially let my mind rest for a little while. Oh, and Uncle Sam will want a chunk. 

I've enjoyed having passive income, though most has gone back into the property. It would be more accurately called a passive building of net worth.  DH has never embraced being a landlord, and it's begun to feel like a burden to me. DS and DDIL are teaming up with me on the work that the house needs to realize a good sale price. They are good teammates for me. I have asked them to lead the charge and let me be an assistant, and even establishing that has been helpful. 

Love this!!!

[resolution]

Update: Resolution 10/22/20 $33,500 (Goal: $35,000)

I am still coasting to my goal with automatic deductions from my paycheck for the 457 plan.

My plans to pay off our house in the next six months came to an abrupt end when we found a different house that we want to buy. Right now we are under contract, and are hoping to close on it in early November, so I am back to just paying the minimum on the current house. I also cashed out about half of our brokerage account to cover the down payment and closing costs. After we move and sell our current house, I am hoping to replace the money that I took from the brokerage.  That plan is under negotiation, as my husband wants to spend the proceeds on improvements for the new house and to pay down the new loan.

My husband finished up his inexpensive coronavirus-stay-at-home project (picture below), and the project house will be significantly more expensive, so next year's goals will probably be less ambitious. 

Account	Goal	Saved  YTD	% of Goal
IRA 1	7,000	7000	100%
IRA 2	6,000	6000	100%
457 plan	10,000	8500	85%
Brokerage	12,000	12000	100%
Total	35,000	33,500	96%

[seriousthistime]

Wow, that's lovely, resolution.  Were you planning to move, or did the perfect place just happen along? 

And good job on the savings. All savings is meant to be spent eventually.  So it's great you had the money in the brokerage account. 

[resolution]

Oct 23, 2020 8:58:25 GMT -5 seriousthistime said:

Wow, that's lovely, resolution .  Were you planning to move, or did the perfect place just happen along? 

And good job on the savings. All savings is meant to be spent eventually.  So it's great you had the money in the brokerage account. 

We have been looking off and on for a few years, because we felt that our current home wouldn't meet our long term needs. When the pandemic hit we decided to stop looking and just wait it out, but one of my husband's coworkers told him about this house and we decided to do a quick drive-by.  It has a fantastic outbuilding and the exterior is fancy, with a plain interior that he will really enjoy fixing up.

I'm kind of freaking out about cashing out half the brokerage fund. The house costs about 2.5x our annual income, which seems like a huge amount. It also needs to be repainted, which will be extremely expensive since the old paint will need to be stripped before we can paint. I think it has about 100 years of paint layers stacked on top of each other.

[forwardwego]

seriousthistime, Thank you for your help as other Savers and I tweak our races and goals.

I'm going to break my race into 2 parts. I've peaked or achieved the first 3 line items. Now will be spending them down, & will reestablish goals for those for 2021. I'll continue working toward the Cash Stash goal for the final 10 weeks of the year.

Forwardwego(A) 10/19/2020 $12,305 (goal $14,000) (final update for first 3 line items)

Forwardwego(B) 10/19/2020 $45 (goal $1000, Cash Stash)
 
  

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	1000	100	1000	100
RENTAL MARGIN	8000	2100	7500	93	500
PERIODIC EXPENSE	5000	1000	3805	76	1195
CASH STASH	1000	0	45	4	955
TOTALS	15000	3200	12350	82	2650

Keep up the good work Saver Friends. 

[paynointerest]

UPDATE! October 28, 2020 == I reached my goal!

I set an ambitious goal this year to fund both my 403b, 457b, and my DH 403b to $10K -- and we just reached our goal.  Having a global pandemic and being stuck at home, not eating out nearly as much, and paying off my house definitely contributed to this success. 

I've been following the FIRE threads on Reddit and some of the other famous FIRE folks and have learned about all of the variations of FIRE.  With this year's aggressive savings, I can say I have reached "CoastFIRE".  Next year I will follow the same savings plan and let the money in my retirement compound.

Pay-no-interest: $74,050.00 (Goal: $71,000)

	Goal	Saved	% of Goal	Amt Spent
My 403b	$19,500	$19,500	100%
My 457b	$19,000	$19,500	103%
Tax Invest Acct	$6,000	$7,300	122%
Property taxes	$4,750	$4,750	106%	$4,750
DH2020 Roth	$6,000	$6,000	100%
MY2020 Roth	$6,000	$6,000	100%
DH 403b	$10,000	$11,000	110%
Total	$71,000	$74,050	104%

We are in week 10 of classes and it is getting tough to stay motivated and upbeat when I teach.  I'm tired of looking at a screen. I've got a lot of grading and am still doing class prep and I'm fall back into my old habits of working 50+ hours a week.  I'm really looking forward to Thanksgiving break.

[seriousthistime]

Great job, paynointerest!

[flamingo]

October Updates

                            Current      Goal      Change

Savings/Efund.      $8,418      $10,000.      $0



Vacation Fund.      $1,000      $3,000.      $0



Total.                  $9,418      $13,000.      $0



Flamingo, 10/28/20 $9,418 (Goal $13,000)

Looks like I missed updating in September, whoops. Not that there was anything to report, though. I've held steady over the last couple months. We had things come up that we wanted to cash flow, so instead of putting money into savings, we paid stuff off. Clearly I'll be going into 2021 with the same basic goals, haha. 

[teachermom]

paynointerest
I so agree with you! Teaching is super hard and not a lot of fun online. I miss the relationships with my students. It is so impersonal online and talking to a blank screen basically because kids won't leave their cameras on. If this were my first couple of years....I would probably have quit,.....but being in that downhill slide to retirement....I persevere. And anyone who thinks teachers are only working part time because they are teaching "part time" has no clue!! I spend way more time prepping and grading for online than I ever did!! It is crazy! I have had to make myself "check out" from work in the evenings to keep my sanity. I don't check my email and Google Classroom because I would end up working all night. Prayers for all the teachers out there!!

Teachermom