speechchick71
Familiar Member
Get it? Chick?
Joined: Dec 21, 2010 21:51:38 GMT -5
Posts: 521
|
Post by speechchick71 on Apr 12, 2020 20:50:29 GMT -5
Hey all. I hope you all are well! The stress levels in the hospital are running high and we aren't even getting slammed. The stress of the equipment all the time is hard. I have a constant headache and I think it's from breathing in my own CO2 all day long. We have had a few die but a lot who are getting better. It just very hard for ALL of the patients (as well as the workers) because no guests can come in. The patients are very bored and the demented ones are having a really difficult time. I don't know if I posted an update for March but I'll definitely do one for April. I get 3 paychecks this month! Woohoo! I took some money out of my money market to fund my Roth from last year and this year. My co-worker and I altered our schedules a bit so that we both could still work full time. Being that nothing is happening on the weekends, I work Sa-Tu and she does Tu-Friday. The hospital gets 7 days coverage now and we both get to still work full time. Win-win situation right now. Also, having us only together on Tuesday allows our PRN therapist to get some hours on the other days. Before this, we really only used her on Thursday or Friday. I hope everyone is doing what they can to stay healthy. Please keep up the social distancing and washing your hands. I'll get an update in for April before the end of the month. Thanks for keeping up the chart and shout outs, forwardwego!
|
|
nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,442
Mini-Profile Background: {"image":"","color":"4ee2dd"}
|
Post by nikiz628 on Apr 12, 2020 22:07:11 GMT -5
Hang in there, speechchick71! ❤️ You really are doing an amazing job in all this!
|
|
TheOtherMe
Distinguished Associate
Joined: Dec 24, 2010 14:40:52 GMT -5
Posts: 27,163
Mini-Profile Name Color: e619e6
|
Post by TheOtherMe on Apr 13, 2020 8:50:04 GMT -5
|
|
jenpen
Established Member
Joined: Jun 16, 2011 17:56:35 GMT -5
Posts: 322
|
Post by jenpen on Apr 16, 2020 6:39:32 GMT -5
Although I'm adding $500/mo to "ST to spend", I've been spending on insurance, registration, home maintenance, new freezer, etc, so my actual balance on that account is $2000. I won't have to spend out of it for at least the next few months (unless something major breaks in my house or car....knock on wood). Soooooo, my cat had a $493 stomach ache yesterday. New balance: 1507 He's lucky I love him more than anything in the world.
|
|
plugginaway22
Well-Known Member
Joined: Jan 2, 2011 10:18:42 GMT -5
Posts: 1,655
|
Post by plugginaway22 on Apr 17, 2020 8:49:45 GMT -5
Hope everyone is hanging in there! We certainly have not been spending much, except for food. But the schedule we had planned to pay down DH's truck has been put on hold. Feels better holding onto the cash and paying a bit less right now, the interest rate is 3%.
Our HELOC offered a lock-in of the balance @3% for 5 years. We declined right now since it doesn't look like rates will be rising anytime soon. I like the flexibility of paying $50 or $2000 per month. May revisit this once we know how this will all affect both of our jobs.
DH did receive his first 2 weeks of UC, along with the extra $600 for one of the weeks. Our DS usually visits in May, which will not be happening this year. He is living in a safer state out west. We are surviving, but terribly missing our 2 grand-babies!
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on Apr 18, 2020 9:15:05 GMT -5
UpdateAccount Name | Goal | Start | Amt. Saved 4/17/20 | Amt. Saved % | Roses | Gifts | $2,600 | $2,300 | $2,613 | 100.0% | | Property Tax | $5,500 | $0 | $1,764 | 32.1% | | Travel | $4,000 | $5 | $4,000 | 100.0% | | Car | $3,000 | $17 | $3,000 | 100.0% | | Survival Fund | $6,000 | $16 | $6,000 | 100.0% | | Weekly Savings | $1,378 | $13 | $714 | 51.8% | | Household/EF | $2,000 | $5 | $2,042 | 102.1% | | Mortgage | $6,000 | $695 | $4,809 | 80.2% | | Total | $30,478 | $3,051 | $24,942 | 81.8% |
|
Seriousthistime, 4/17/2020, $24,942 (Goal, $30,478)
Weekly Savings Tracker: $1 | $2 | $3 | $4 | $5 | $6 | $7 | $8 | $9 | $10 | $11 | $12 | $13 | $14 | $15 | $16 | $17 | $18 | $19 | $20 | $21 | $22 | $23 | $24 | | $26 | $27 | $28 | $29 | $30 | $31 | $32 | $33 | $34 | $35 | $36 | $37 | | | | | | | | | | |
|
|
|
| | |
|
The topsy turvy life we're living continues on. I hope everyone is doing ok. I've noticed people are expressing they are feeling down. If you're one of them, please reach out to someone, and if you need to, please seek some sort of help. If you have an EAP through your work, it's easy just to give them a call. I fall into the high risk category, so I'm staying in the house as much as possible. We are working from home, and that seems to be going well. In fact, so well, I think our WFH options will increase after this is over. I continue to be very grateful. I can get groceries delivered through Instacart, and most of the time I get most of my order. I lived on the wild side with the last order when I put ice cream on the list. It arrived in ok shape. CVS has free delivery for prescription refills. My dog and I can take walks and avoid people. We can see if people are heading our way, and either we or they will cross the street. My big outing this weekend may be to fill up my gas tank at Costco. I'm not sure I need gas, I'm not going anyplace anyway, but the low prices are sure attractive. I feel I should take advantage. Still planning to retire sometime this year. My current thought is I will do it when I am ordered to return to the office. Working from home is far less bothersome than going into the office. I miss going out to restaurants and shopping. I've done delivery and pickup from various restaurants, and I've done shopping online. I bought a stick vacuum because I'm tired of pulling out the canister vac from the closet and stow it after each use. The stick vacuum arrived yesterday and it has been charging overnight. Today I assemble it and try it out. A bird built a nest in the wreath at my front door. The eggs hatched and the baby birds left the nest. Now a new couple is setting up shop in the nest. I enjoy watching nature from my dining room window.
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,030
|
Post by Rukh O'Rorke on Apr 21, 2020 8:56:43 GMT -5
Rukh O'Rorke 04/21/2020 $5,735.97 (Start=$0 / Goal=$43,600)
Saving Goals for 2020 Account | Goal | Added | Saved | Percent | 401k | $26,000 | $328.79
| $3,397.49 | 13% | HSA | $7,600 | $292.31
| $2,338.48 | 31% | EF:MM | $5,000 | 0
| 0 | 0% | EF:ETFs | $5,000 | 0 | 0 | 0% | Total | $43,600 | $621.10 | $5735.97
| 13%
|
EF Multiyear Goals
Emergency Fund | Goal | Added | Amount | Percent | Money Market and ETFs | $20,000 |
| 500 | 2.5% |
Spending TargetsSpending Categories | Goal | Amount | Percent | Vacation | $3,000 | 0 | 0% | Holiday/Gifts | $2,000 | 0 | 0% | Rukh Discretionary | $1,000 | 0 | 0% | Total | $6,000 | 0 | 0% |
Just one more baby step with each paycheck as I tread water. Food is so much more expensive and stocking up on more than we typically use added to the increase. Will be increasing 401k for next time I think, and start to make more traction.
|
|
Deleted
Joined: Apr 26, 2024 7:18:47 GMT -5
Posts: 0
|
Post by Deleted on Apr 21, 2020 23:00:02 GMT -5
Update for April Fund | 2020 Goal
| Current | Needed | % Complete
| 401K | $15,000
| $6,931 | $8,069 | 46.21% | HSA | $7,100 | $2,126 | $4,974 | 29.94% | College | $1,900 | $800 | $1,100 | 42.11% | IRA | $500 | $500 | $0 | 100.00% | Pr. High School
| $500 | $500 | $0 | 100.00% | Vacation | $500 | $100 | $400 | 20.00% | Christmas | $500 | $0 | $500 | 0.00% | Total | $26,000 | $10,957 | $15,043 | 42.14% |
MPL 4/21/2020 $10,957 - Goal $26,000
|
|
paynointerest
Established Member
Joined: Dec 21, 2010 1:35:20 GMT -5
Posts: 440
|
Post by paynointerest on Apr 22, 2020 6:35:00 GMT -5
UPDATE! April 22, 2020
Pay-no-interest: $27,300.00 (Goal: $59,000)
| Goal | Saved | % of Goal
| Amt Spent
| My 403b
| $19,500
| $11,200
| 57%
|
| My 457b
| $19,000 | $200
| 1%
|
| Tax Invest Acct
| $6,000 | $7,000
| 117%
|
| Property taxes
| $4,500 | $4,400
| 98%
| $1,252
| DH 403b
| $10,000 | $4,500
| 45%
|
| Total
| $59,000 | $27,300
| 46%
|
|
Hi everyone! I want to give a big shout out to any of you with essential jobs that require daily interaction with people you don't know -- especially those of you in health care. Thank you for everything you are doing! This update is sharing how grateful I am to have set aside money for tax bills like my property taxes. My city and county real estate taxes are due in April and I was able to pay early to get the 2% discount because I had the savings. I also realized that I forgot to include my automated $350 contributions to that account in March and April and so I updated that line item. While this isn't a line item above, I was also able to max out DHs 2019 Roth IRAs over the past 4 months. I might add 2020 to the list.
I hope all of you are staying healthy and safe out there.
|
|
azucena
Junior Associate
Joined: Jan 17, 2011 13:23:14 GMT -5
Posts: 5,199
|
Post by azucena on Apr 22, 2020 11:09:11 GMT -5
Weird I thought I put in an update late March, but it didn't come up in my search. Too lazy to recreate it, so here's the latest
We're isolating so our spending is way down even accounting for $300 grocery runs every 10 days and about a $100 from amazon per month for things to keep the kids busy. DH was in a weird loophole where the +600 unemployment was more than his typical paycheck. His employer got a PPP loan, so he's back to teaching preschool online which is weird.
Our savings is way ahead of plan because I banked pretty much all of my raise. We will likely spend portions for house projects when quarantine is lifted. DH is also due to spend $12-15k for a new to us car. So we will keep stockpiling as much as we can while not worrying too much about the one off things like garden supplies to keep us busy and lift the mood.
Azucena 4/22/20 $18,387 of $30,000 goal (61%)
|
|
steph08
Junior Associate
Joined: Jan 3, 2011 13:06:01 GMT -5
Posts: 5,450
|
Post by steph08 on Apr 24, 2020 13:40:50 GMT -5
UPDATE: steph08 4/24/2020 $21,721.04 7/31/2019 $6,626.16 Savings | Start | Previous | Current | Difference | Goal | Percentage Saved | Emergency Fund | $3,664.15 | $8,904.04 | $12,626.18 | $3,722.14 | $10,000.00 | 126.26% | DD1 529 Payback | $0.00 | $0.00 | $0.00 | $0.00 | $2,700.00 | 0.00% | DD2 529 Payback | $0.00 | $0.00 | $0.00 | $0.00 | $2,700.00 | 0.00% | DD1 Savings | $1,766.95 | $2,469.98 | $3,020.93 | $550.95 | $3,000.00 | 100.70% | DD2 Savings | $1,195.06 | $2,006.36 | $2,007.27 | $0.91 | $2,000.00 | 100.36% | 401K Savings | $0.00 | $1,615.38 | $2,333.33 | $717.95 | $7,000.00 | 33.33% | 401k Employer Match | $0.00 | $692.00 | $933.33 | $241.33 | $2,800.00 | 33.33% | DD1 529 2020 | $0.00 | $300.00 | $400.00 | $100.00 | $1,200.00 | 33.33% | DD2 529 2020 | $0.00 | $300.00 | $400.00 | $100.00 | $1,200.00 | 33.33% | TOTAL | $6,626.16 | $16,287.76 | $21,721.04 | $5,433.28 | $32,600.00 | 51.18% |
The stimulus money really added to our savings this month (not the point of it, I know, but so far, both DH and I are considered essential, so we are chugging along). Hoping to bring the EF up to $13,400 ($10k plus the stimulus money), and then start stockpiling money for our house build, which should start in late summer, if everything goes according to plan.
|
|
resolution
Junior Associate
Joined: Dec 20, 2010 13:09:56 GMT -5
Posts: 6,980
Mini-Profile Name Color: 305b2b
|
Post by resolution on Apr 24, 2020 16:35:51 GMT -5
Update: Resolution 04/24/20 $11,8000 (Goal: $35,000)I've shifted our savings to mostly focus on the retirement accounts in case DH gets laid off. I plan to catch up on the brokerage account later in the year after we hit the max on the IRAs if he is still working. I have some extra cash building up in the savings account and I may need to find a home for it relatively soon before I spend it. Account | Goal | Saved YTD | % of Goal
| IRA 1 | 7,000
| 3500 | 50% | IRA 2
| 6,000 | 3000 | 50% | 457 plan
| 10,000 | 3300
| 33% | Brokerage | 12,000 | 2000 | 17% | Total
| 35,000 | 11,8000
| 34% |
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on Apr 25, 2020 15:12:30 GMT -5
UpdateAccount Name | Goal | Start | Amt. Saved 4/25/20 | Amt. Saved % | Roses | Gifts | $2,600 | $2,300 | $2,613 | 100.0% | | Property Tax | $5,500 | $0 | $1,764 | 32.1% | | Travel | $4,000 | $5 | $4,000 | 100.0% | | Car | $3,000 | $17 | $3,000 | 100.0% | | Survival Fund | $6,000 | $16 | $6,000 | 100.0% | | Weekly Savings | $1,378 | $13 | $714 | 51.8% | | Household/EF | $2,000 | $5 | $2,042 | 102.1% | | Mortgage | $6,000 | $695 | $6,000 | 100.0% | | Total | $30,478 | $3,051 | $26,133 | 85.7% |
|
Seriousthistime, 4/25/2020, $26,133 (Goal, $30,478)
Weekly Savings Tracker: $1 | $2 | $3 | $4 | $5 | $6 | $7 | $8 | $9 | $10 | $11 | $12 | $13 | $14 | $15 | $16 | $17 | $18 | $19 | $20 | $21 | $22 | $23 | $24 | | $26 | $27 | $28 | $29 | $30 | $31 | $32 | $33 | $34 | $35 | $36 | $37 | | | | | | | | | | |
|
|
|
| | |
|
I ventured out to the grocery store to curbside pick-up an order I placed online last night. It was right next to the CVS and it was early so I ventured in with hardly a soul except the employees, and though I didn't get what I was looking for, I did buy some ice cream and frozen pizza on sale (both of which I didn't want to order with the groceries, not knowing how long before pickup the shopper might take the items from the freezer). Then I drove to Costco to fill the gas tank, though I am going nowhere these days. But the thought of cheap gas lured me in and I was below half a tank so it was worth it. I was able to drive right up to the pump. I noticed people were getting in line to go into the store. This was at 7:45 a.m. I think the store opens at 9:30. Even if it opens at 8:00, I wouldn't be standing in line. It's not looking like I will have to return to the office anytime soon. My office is doing just fine working from home. I think part of the reason I'm so ahead of the game with my savings is that I'm not spending a lot of money other than regular bills. True, there was the vacuum I bought, but when I think of all the shopping I'd like to do that would require me to leave the house, I just don't.
|
|
paynointerest
Established Member
Joined: Dec 21, 2010 1:35:20 GMT -5
Posts: 440
|
Post by paynointerest on Apr 28, 2020 7:07:06 GMT -5
UPDATE! April 28, 2020
Pay-no-interest: $37,550.00 (Goal: Updated to $71,000 (4/28) it was $59,000)
| Goal | Saved | % of Goal
| Amt Spent
| My 403b
| $19,500
| $15,400
| 79%
|
| My 457b
| $19,000 | $400
| 2%
|
| Tax Invest Acct
| $6,000 | $7,000
| 117%
|
| Property taxes
| $4,500 | $4,750
| 106%
| $1,252
| DH 2020 Roth
| $6,000
| $2,000
| 33%
|
| My 2020 Roth
| $6,000
| $2,000
| 33%
|
| DH 403b
| $10,000 | $6,000
| 60%
|
| Total
| $71,000 | $37,550
| 53%
|
|
Hello everyone, I met my property taxes goal with this month's contribution. I have more than enough to cover the upcoming school taxes that will be due on August. I plan to use the extra I have to cover the federal and state income taxes that I owe this year. It seems like taxes never end! DH and I are getting the extra income from teaching the extra course and so I used that to add more money to my 403b supplemental retirement contribution. I hope to reach that goal by June. Then I'll be more aggressive with my 457b contributions.
I had money tucked away in savings that I was waiting for a market downturn to invest -- I invested some of it earlier but got gun shy when the DOW was below $19K -- hindsight is a killer! Anyway, I'm now taking that money to contribute to DH and my 2020 Roth IRAs and will plan to max those out.
Our university seems to be weathering this situation better than most. They are telling us that their will be a 3% cut to the overall budget and our College is telling us that it won't affect existing positions. But, our unit heads are being asked to prepare budgets should more drastic cuts be needed in the future. My thought is to funnel the extra income into maxing out my retirement accounts now in case something happens in the future.
This is my last week of classes for the spring semester and my work load is such that I am actually able to get my work done during the day and not have to work nights and I work minimally during the weekends. It is sooooo nice! I'm really looking forward to the summer because I am not teaching this summer and I can catch up on my administrative tasks that I am behind on.
It is exciting to see the phased release of the restrictions. I hope that it goes well and that there is not a resurgence. It would be nice to get back to a normal social environment.
I hope you all are doing well.
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,030
|
Post by Rukh O'Rorke on Apr 28, 2020 8:16:59 GMT -5
Rukh O'Rorke 04/28/2020 $15,735.97 (Start=$0 / Goal=$43,600)
Saving Goals for 2020 Account | Goal | Added | Saved | Percent | 401k | $26,000 | 0
| $3,397.49 | 13% | HSA | $7,600 | 0
| $2,338.48 | 31% | EF:MM | $5,000 | $5,000.00
| $5,000.00 | 100% | EF:ETFs | $5,000 | $5,000.00 | $5,000.00 | 100% | Total | $43,600 | $10,000.00 | $15,735.97
| 34%
|
EF Multiyear Goals
Emergency Fund | Goal | Added | Amount | Percent | Money Market and ETFs | $20,000 | $10,000
| $10,504.66 | 53% |
Spending TargetsSpending Categories | Goal | Amount | Percent | Vacation | $3,000 | 0 | 0% | Holiday/Gifts | $2,000 | 0 | 0% | Rukh Discretionary | $1,000 | 0 | 0% | Total | $3,000 | 0 | 0% |
Got my big RI payment. Might end up being the only one this year - so better make it count!! This update felt very satisfying!!! Although in the current situation - 10k EF seems like almost nothing. Although the 2020 goal for that is met, I am going to try to keep adding to that. I have crossed off the vacation funding cuz - yeah - I can take days off and tour extensively in my own yard.....tehe....maybe will spend some money there..... Am keeping all the 10k in money market currently, do not want to put into ETFs as originally planned. May do latter as I assess my personal situation.
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on Apr 28, 2020 8:29:11 GMT -5
Nice updates, everyone!
I'm thinking of doing smilies on Sunday morning, May 3. Please get your updates in so I can include them.
Thanks!
|
|
flamingo
Well-Known Member
Joined: Dec 17, 2012 10:38:09 GMT -5
Posts: 1,905
Mini-Profile Name Color: 7c65d4
|
Post by flamingo on Apr 28, 2020 8:53:15 GMT -5
Good morning! I hope everyone is doing well and staying safe! I'm tired of my house, but my wallet appreciates the lack of chances to spend money. My savings is automated, though I if I want to hit my goal by December, I'll have to update the auto amount by a bit, or I'll be short. So, the plan for May is to start adding a bit extra each month.
April Updates
Current Goal Change
Savings/Efund. $8,018 $10,000. $200
Vacation Fund. $600 $3,000. $200
Total. $8,618. $13,000. $400
Flamingo, 4/28/20 $8,618 (Goal $13,000)
|
|
speechchick71
Familiar Member
Get it? Chick?
Joined: Dec 21, 2010 21:51:38 GMT -5
Posts: 521
|
Post by speechchick71 on Apr 29, 2020 11:20:28 GMT -5
Hey all.... I'm so glad to post this update! I ended up having a CD mature just as the pandemic was starting. I took some of that money and funded my Roth from last year and this year. I still have plenty left in the event of an emergency too. I hope everyone is staying healthy! Update
Speechchick, 2020,4/30/2020 $21148 (Goal $28,500)
| Goal | End Of Feb 2020 | % Saved | Roses | 403b | 17,000 | 6048 | 35.58% | | Roth IRA | 5,500 | 12000 | 218.18% | | Car expenses | 4,000 | 1600 | 40% |
| General Savings | 2,000 | 1500 | 75% |
| Total | 28,500 | 21148 | 74.20% |
|
|
|
nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,442
Mini-Profile Background: {"image":"","color":"4ee2dd"}
|
Post by nikiz628 on Apr 29, 2020 13:26:57 GMT -5
2020 Savings | START | CURRENT | GOAL | STILL NEED | Emergency Fund | $1,000.00 | $1,925.56 | $2,000.00 | $74.44 | DS1's Savings | $1,960.29 | $2,061.29 | $2,200.00 | $138.71 | DS1's Savings | $734.55 | $835.00 | $850.00 | $15.00 | TOTALS | $3,694.84 | $4,821.85 | $5,050.00 | $228.15 |
NikiZ628 4/29/20 $4,821.85 (Goal $5,050.00 WIRS2)
|
|
plugginaway22
Well-Known Member
Joined: Jan 2, 2011 10:18:42 GMT -5
Posts: 1,655
|
Post by plugginaway22 on Apr 30, 2020 6:28:09 GMT -5
Plugginaway22 4/30/20 $7814 ($12,000)
2020 Saved Goal
Jan 831.00 1000.00
Feb 1626.00 1000.00
Mar 3948.00 1000.00
Apr 1409.00 1000.00
subTotals 7814.00 12,000.00
More changes this month! Both of our employers received the federal PPP loan, so DH went back to full pay after being laid off for 4 weeks. Nothing has changed with my salary. I do foresee reductions possible to both of our salaries later in the year when the reality of this economy settles in. Very glad to have found this thread and being focused on savings.
|
|
idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
|
Post by idlechatter on Apr 30, 2020 17:20:02 GMT -5
Well, this board is certainly great for my cash hoarding strategy right now! I've added a new line item for student loans because I've taken the extra $250 I've squeezed out of my budget to add to my student loan payments. I'm saving up my student loan payments each month until the temporary forebearance is up and then I will pay one big chunk at once (which very conveniently matches the total of one of my two remaining student loans). So that account will go back away presumably in September but I'm using my savings spreadsheet to keep track of it because it's co-mingled with my Emergency Fund savings and it makes it easier for me to account for where the total balance belongs and just how much I have in my EF. I have excluded the Student Loans line item from my total saved. Outside of that, I usually keep a very healthy buffer in my checking account, but decided I'm going to reduce the buffer a bit (it's been growing the last two months with being home) and maintain at that reduced level for the foreseeable future in order to add some extra $$ to my EF. So I should hopefully surpass my Emergency Fund goal for the year. This has become the primary focus of my savings because my lease renews in August and with the prospect of a recession, I would like to beef that up a bit in the event I lose my job. Hope everyone is doing okay! idlechatter 4/30/20 $18,780.03 (Goal:$30,000), WIRS3 Savings Account | Goal | WIRS Start 1/19/2020 | 4/30/2020 | Difference from WIRR Start | Remainder to Save | Emergency | $4,000.00 | $0.00 | $1,833.00 | $1,833.00 | $2,167.00 | Car/Moto Maintenance | $1,500.00 | $4.80 | $1,500.95 | $1,496.15 | -$0.95 | Christmas | $1,200.00 | $3.09 | $1,200.77 | $1,197.68 | -$0.77 | House | $1,000.00 | $0.47 | $0.47 | $0.00 | $999.53 | Car/Moto Purchase | $1,200.00 | $0.00 | $400.45 | $400.45 | $799.55 | Dad (long term) | $1,000.00 | $0.00 | $0.00 | $0.00 | $1,000.00 | Vacation (slush) | $4,500.00 | $2,300.00 | $4,000.00 | $1,700.00 | $500.00 | Student Loans (Temporary) | $5,625.00 | $0.00 | $1,000.00 | $1,000.00 | $4,625.00 | 401K | $15,600.00 | $550.00 | $9,844.39 | $9,294.39 | $5,755.61 | Total | $30,000.00 | $2,858.36 | $18,780.03 | $16,921.67 | $15,844.97 |
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on Apr 30, 2020 18:39:22 GMT -5
Well, this board is certainly great for my cash hoarding strategy right now! And that's why we're here!
|
|
azucena
Junior Associate
Joined: Jan 17, 2011 13:23:14 GMT -5
Posts: 5,199
|
Post by azucena on May 1, 2020 10:13:18 GMT -5
Weird I thought I put in an update late March, but it didn't come up in my search. Too lazy to recreate it, so here's the latest We're isolating so our spending is way down even accounting for $300 grocery runs every 10 days and about a $100 from amazon per month for things to keep the kids busy. DH was in a weird loophole where the +600 unemployment was more than his typical paycheck. His employer got a PPP loan, so he's back to teaching preschool online which is weird. Our savings is way ahead of plan because I banked pretty much all of my raise. We will likely spend portions for house projects when quarantine is lifted. DH is also due to spend $12-15k for a new to us car. So we will keep stockpiling as much as we can while not worrying too much about the one off things like garden supplies to keep us busy and lift the mood. Azucena 4/22/20 $18,387 of $30,000 goal (61%)Received our $1600 escrow balance back from prior mortgage company after refinance. Also put some money in from payday today. We're surpassing our savings goal but also know that we are planning to pull $15k out for a used vehicle and will need to fund our own property taxes at yearend which will be about $3k. Really my current plan to just keep moving 'extra' money over week by week so we don't frivolously spend it is working out nicely so I will just keep doing that and pay less attention to the goal I set. We are spending less money while sheltering in place - shows how much frivolous spending can be avoided if we stick to grocery shopping every 10 days after this. We have spent some fun money to buy an outdoor sectional for our front porch which will be used for sitting and reading throughout the summer. Azucena 5/1/20 $21,261 of $30,000 goal (71%)
|
|
forwardwego
Well-Known Member
Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
|
Post by forwardwego on May 1, 2020 14:37:49 GMT -5
WIRSavers, Thank you in advance for your input and perspective:
We are retired, in our early 60's, and pay our base expenses with our pensions and DH's SS. Prior to the pandemic we had part-time and side gigs to pay for special projects and extras. All the extra income has ceased for now. EF is fully funded at $20K, only debt of concern is the mortgage with $19K remaining. There is a rental property mortgage, but it is self-sustaining, & it's very likely we will cash this property out in 2 years when the current renter's tenancy ends.
My TSP account is divided two thirds G Fund (government, "no risk", minimal growth), and one third L Income Fund (a target fund based on retirement timeline and a conservative mix of the 5 basic Funds: G, C, F, S, I).
(Options available within TSP: C Fund is S&P 500 based, G is government bonds, F is bond fund, S is small cap stock fund, I is international stock fund...and the L income, L2020, L2030, L2040, and L2050 which are different mixes of the G, F, C, S, & I with risk levels based on retirement target date.)
I'd like to build our net worth, and at 1/3 G no risk and 2/3 L income there is minimal risk, but minimal growth. I'm realizing that even though we're retired I'm not ready to tap that money and may not for quite some time. Presuming at least 5 years and could be 10 years.
Since we do not need to use my TSP in the foreseeable future, maybe I should shift some to a target fund with a timeline of 2030? Or maybe even later since that would just be the start of usage, much would continue to be untouched for even longer.
If I change the distribution should I do so gradually, kind of like a dollar cost averaging? Or figure my desired distribution, go for it, and then periodically rebalance??
Thoughts on this? Or other suggestions/perspectives??
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on May 1, 2020 15:27:32 GMT -5
UpdateAccount Name | Goal | Start | Amt. Saved 5/1/20 | Amt. Saved % | Roses | Gifts | $2,600 | $2,300 | $2,613 | 100.0% | | Property Tax | $5,500 | $0 | $5,500 | 100.0% | | Travel | $4,000 | $5 | $4,000 | 100.0% | | Car | $3,000 | $17 | $3,000 | 100.0% | | Survival Fund | $6,000 | $16 | $6,000 | 100.0% | | Weekly Savings | $1,378 | $13 | $856 | 62.1% | | Household/EF | $2,000 | $5 | $2,042 | 102.1% | | Mortgage | $6,000 | $695 | $6,000 | 100.0% | | Total | $30,478 | $3,051 | $30,011 | 98.5% |
|
Seriousthistime, 5/1/2020, $30,011 (Goal, $30,478)
Weekly Savings Tracker: $1 | $2 | $3 | $4 | $5 | $6 | $7 | $8 | $9 | $10 | $11 | $12 | $13 | $14 | $15 | $16 | $17 | $18 | $19 | $20 | $21 | $22 | $23 | $24 | | $26 | $27 | $28 | $29 | $30 | $31 | $32 | $33 | | | | | | | | | | | | | | |
|
|
|
| | |
|
I doubled up on my weekly savings this pay period and selected four weeks from the chart, instead of the usual two selections. If I do this I will be done with these savings goals in August. And then instead of sending more money to the car savings account I decided to pay additional principal on the car. It would be nice to be free of that payment and it would be even more I could send to savings. I'm getting so very little interest on the savings I have that it offsets the very little interest I'm paying on the car.
|
|
resolution
Junior Associate
Joined: Dec 20, 2010 13:09:56 GMT -5
Posts: 6,980
Mini-Profile Name Color: 305b2b
|
Post by resolution on May 1, 2020 18:24:35 GMT -5
WIRSavers, Thank you in advance for your input and perspective: We are retired, in our early 60's, and pay our base expenses with our pensions and DH's SS. Prior to the pandemic we had part-time and side gigs to pay for special projects and extras. All the extra income has ceased for now. EF is fully funded at $20K, only debt of concern is the mortgage with $19K remaining. There is a rental property mortgage, but it is self-sustaining, & it's very likely we will cash this property out in 2 years when the current renter's tenancy ends. My TSP account is divided two thirds G Fund (government, "no risk", minimal growth), and one third L Income Fund (a target fund based on retirement timeline and a conservative mix of the 5 basic Funds: G, C, F, S, I). (Options available within TSP: C Fund is S&P 500 based, G is government bonds, F is bond fund, S is small cap stock fund, I is international stock fund...and the L income, L2020, L2030, L2040, and L2050 which are different mixes of the G, F, C, S, & I with risk levels based on retirement target date.) I'd like to build our net worth, and at 1/3 G no risk and 2/3 L income there is minimal risk, but minimal growth. I'm realizing that even though we're retired I'm not ready to tap that money and may not for quite some time. Presuming at least 5 years and could be 10 years. Since we do not need to use my TSP in the foreseeable future, maybe I should shift some to a target fund with a timeline of 2030? Or maybe even later since that would just be the start of usage, much would continue to be untouched for even longer.If I change the distribution should I do so gradually, kind of like a dollar cost averaging? Or figure my desired distribution, go for it, and then periodically rebalance?? Thoughts on this? Or other suggestions/perspectives??I agree that retirement portfolios should have some kind of growth potential built in, since there is a high risk of inflation eating away at your values over time. Personally, I wouldn't be comfortable with a radical shift after I was already retired, so I would probably just take the 1/3 in the L fund and move it to a different L fund with a slightly more aggressive mix. I'm not familiar with how a TSP works, but I am assuming its like a 401k or IRA where you can rebalance within the account without causing a taxable event. If my assumption is wrong, then I probably wouldn't move anything without talking to my tax guy.
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
|
Post by seriousthistime on May 1, 2020 19:41:48 GMT -5
WIRSavers, Thank you in advance for your input and perspective: We are retired, in our early 60's, and pay our base expenses with our pensions and DH's SS. Prior to the pandemic we had part-time and side gigs to pay for special projects and extras. All the extra income has ceased for now. EF is fully funded at $20K, only debt of concern is the mortgage with $19K remaining. There is a rental property mortgage, but it is self-sustaining, & it's very likely we will cash this property out in 2 years when the current renter's tenancy ends. My TSP account is divided two thirds G Fund (government, "no risk", minimal growth), and one third L Income Fund (a target fund based on retirement timeline and a conservative mix of the 5 basic Funds: G, C, F, S, I). (Options available within TSP: C Fund is S&P 500 based, G is government bonds, F is bond fund, S is small cap stock fund, I is international stock fund...and the L income, L2020, L2030, L2040, and L2050 which are different mixes of the G, F, C, S, & I with risk levels based on retirement target date.) I'd like to build our net worth, and at 1/3 G no risk and 2/3 L income there is minimal risk, but minimal growth. I'm realizing that even though we're retired I'm not ready to tap that money and may not for quite some time. Presuming at least 5 years and could be 10 years. Since we do not need to use my TSP in the foreseeable future, maybe I should shift some to a target fund with a timeline of 2030? Or maybe even later since that would just be the start of usage, much would continue to be untouched for even longer.If I change the distribution should I do so gradually, kind of like a dollar cost averaging? Or figure my desired distribution, go for it, and then periodically rebalance?? Thoughts on this? Or other suggestions/perspectives??I set mine allocated mine to 50% stocks and 50% G fund last fall. All new money going into the G fund. It was staying reasonably balanced until a few months ago when stocks decided to not do so well. It was pretty much even with me adding to the G fund and stocks going down. I reset it to all new money going into the S and C fund, evenly. It's correcting itself now. I don't plan to tap into it for at least a few years anyway. The point of the L funds is to "set it and forget it" so I don't know that I'd put money in an L fund plus invest other money outside of it. (Of course, if you are investing outside the TSP, you have to do that.) The L funds are meant for you not to have to worry about where to invest and market fluctuations, just pick a fund that takes your lifestyle into account and allow someone else to manage it for you. They are making changes to the TSP to have L funds for every 5-year increment instead of the 10-year increments they have now. I worried about changing my allocation and wondered about buying stocks "on sale" now and talked to my son. He said time in the market is better than timing the market. I think he got that from a book I bought him when he got his first real job. And if money managers can't time the market, what makes me think I'd be better at it?
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,030
|
Post by Rukh O'Rorke on May 2, 2020 7:59:23 GMT -5
WIRSavers, Thank you in advance for your input and perspective: We are retired, in our early 60's, and pay our base expenses with our pensions and DH's SS. Prior to the pandemic we had part-time and side gigs to pay for special projects and extras. All the extra income has ceased for now. EF is fully funded at $20K, only debt of concern is the mortgage with $19K remaining. There is a rental property mortgage, but it is self-sustaining, & it's very likely we will cash this property out in 2 years when the current renter's tenancy ends. My TSP account is divided two thirds G Fund (government, "no risk", minimal growth), and one third L Income Fund (a target fund based on retirement timeline and a conservative mix of the 5 basic Funds: G, C, F, S, I). (Options available within TSP: C Fund is S&P 500 based, G is government bonds, F is bond fund, S is small cap stock fund, I is international stock fund...and the L income, L2020, L2030, L2040, and L2050 which are different mixes of the G, F, C, S, & I with risk levels based on retirement target date.) I'd like to build our net worth, and at 1/3 G no risk and 2/3 L income there is minimal risk, but minimal growth. I'm realizing that even though we're retired I'm not ready to tap that money and may not for quite some time. Presuming at least 5 years and could be 10 years. Since we do not need to use my TSP in the foreseeable future, maybe I should shift some to a target fund with a timeline of 2030? Or maybe even later since that would just be the start of usage, much would continue to be untouched for even longer.If I change the distribution should I do so gradually, kind of like a dollar cost averaging? Or figure my desired distribution, go for it, and then periodically rebalance?? Thoughts on this? Or other suggestions/perspectives??since you can meet basic needs without tapping any of this, stock market is down, I'd say now would be a relatively good time to put that towards more aggressive investments. However - remember risk/reward! That risk you take may not pan out. May not pay out by 2030 - and what are you willing to risk - how much?
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,030
|
Post by Rukh O'Rorke on May 2, 2020 8:01:06 GMT -5
UpdateAccount Name | Goal | Start | Amt. Saved 5/1/20 | Amt. Saved % | Roses | Gifts | $2,600 | $2,300 | $2,613 | 100.0% | | Property Tax | $5,500 | $0 | $5,500 | 100.0% | | Travel | $4,000 | $5 | $4,000 | 100.0% | | Car | $3,000 | $17 | $3,000 | 100.0% | | Survival Fund | $6,000 | $16 | $6,000 | 100.0% | | Weekly Savings | $1,378 | $13 | $856 | 62.1% | | Household/EF | $2,000 | $5 | $2,042 | 102.1% | | Mortgage | $6,000 | $695 | $6,000 | 100.0% | | Total | $30,478 | $3,051 | $30,011 | 98.5% |
|
Seriousthistime, 5/1/2020, $30,011 (Goal, $30,478)
Weekly Savings Tracker: $1 | $2 | $3 | $4 | $5 | $6 | $7 | $8 | $9 | $10 | $11 | $12 | $13 | $14 | $15 | $16 | $17 | $18 | $19 | $20 | $21 | $22 | $23 | $24 | | $26 | $27 | $28 | $29 | $30 | $31 | $32 | $33 | | | | | | | | | | | | | | |
|
|
|
| | |
|
I doubled up on my weekly savings this pay period and selected four weeks from the chart, instead of the usual two selections. If I do this I will be done with these savings goals in August. And then instead of sending more money to the car savings account I decided to pay additional principal on the car. It would be nice to be free of that payment and it would be even more I could send to savings. I'm getting so very little interest on the savings I have that it offsets the very little interest I'm paying on the car. this snuck up on me!! Wow - you are doing great and almost done/met goals for the year?? kudos!!
|
|
bobosensei
Well-Known Member
Joined: Dec 21, 2010 11:32:49 GMT -5
Posts: 1,561
|
Post by bobosensei on May 2, 2020 8:08:32 GMT -5
Account | Goal | Saved | Percent | 401k | 8430 | 2810.56 | 33% | HSA | 3500 | 1125 | 32% | Roth | 6000 | 3000 | 50% | House Projects | 3000 | 850.05 | 28.34% | Sinking Funds | 2400 | 0 | 0% | Christmas | 2000 | 0 | 0% | Total | 25430 | 7785.61 | 30.62% |
bobosensei 5/2/20 7785.61 saved for 25430 goal 30.62% My big wins last month were saving 1500 for my roth and spending about 600 less on my credit card. For May I should end up with 1100 to put toward roth or sinking funds. I've been prioritizing investing with prices still being down some. I'm still thinking of refinancing my house, but want to wait a bit to see if rates will go down some. If I refi I'd have to pull money out of liquid savings, but as much as I've been saving each month I would quickly rebuild I estimate in about 2 months. Having a lower house payment would make me feel a little more secure. My emergency fund would go further, and I would have the flexibility to take a lower paying job if I wanted.
|
|