I maxed out my 2016 Roth contributions just before the deadline. Below are the contributions and the dates for my 2016 Roth.
2016 Roth Contributions
8/15/16- $550
9/16/16- $1,281
10/18/16- $1,389
11/15/16- $280
1/18/17 - $1,000
4/4/17- $600
4/12/17- $400
I know I'm a nerd, I love tracking my progress and making charts and lists!! Anyways 2016 Roth is done and now I am on my way to maxing out my 2017 Roth. After that I will focus on building my emergency to $17,500 (right now I am at 15,500).
2017 Roth Contributions
4/14/17- $1,004
Gotta run!
Happy Easter to those that celebrate the holiday!
Friday, April 14, 2017
Sunday, April 9, 2017
First Quarter Update- Financial Goals 2017
1. Increase emergency fund from $15,000 to $17,500.-IN PROGRESS
I have increased this by $500 (It was actually $1,000, but I had to borrow $500 for my work travel due to the extremely slow and awful reimbursement process).
2. Add $9,500 to my retirement with an overall goal of having $20,000 in retirement savings by the end of the year.--IN PROGRESS
I have contributed $1,600 to retirement this year. I believe my ROTH is at approximately $11,400.
3. Pay an extra $100 a month on the mortgage, with an end goal of having the balance under $210,000 by the end of the year.- SO FAR SO GOOD.
I have paid at least $100 extra on each mortgage payment so far this year.
4. Save $2,500 into car replacement fund with the end goal of having $5,000 in the car replacement fund by the end of the year. IN PROGRESS
I have over $3,000 saved towards a new car.
5. Pay off furniture I bought before expiration of 0% financing period. Will blog about this later in a separate post. --DONE
I paid this off in approximately 2 months- no interest paid!!!
6. Read 12 books- FAIL
I have not completed one book this year yet.
7. Write a book- FAIL
Lots of ideas- no actual writing
8. Lose 10 lbs- FAIL
no progress
9. Donate $200 to charity- FAIL
I have not selected a charity yet.
10. Get more life insurance- FAIL
Was hoping to lose weight first.
11. Build a separate car maintenance fund. - FAIL
Waiting on travel vouchers.
12. Look into and focus on career options.- IN PROGRESS
I have been looking into other careers outside of the practice of law.
I have increased this by $500 (It was actually $1,000, but I had to borrow $500 for my work travel due to the extremely slow and awful reimbursement process).
2. Add $9,500 to my retirement with an overall goal of having $20,000 in retirement savings by the end of the year.--IN PROGRESS
I have contributed $1,600 to retirement this year. I believe my ROTH is at approximately $11,400.
3. Pay an extra $100 a month on the mortgage, with an end goal of having the balance under $210,000 by the end of the year.- SO FAR SO GOOD.
I have paid at least $100 extra on each mortgage payment so far this year.
4. Save $2,500 into car replacement fund with the end goal of having $5,000 in the car replacement fund by the end of the year. IN PROGRESS
I have over $3,000 saved towards a new car.
5. Pay off furniture I bought before expiration of 0% financing period. Will blog about this later in a separate post. --DONE
I paid this off in approximately 2 months- no interest paid!!!
6. Read 12 books- FAIL
I have not completed one book this year yet.
7. Write a book- FAIL
Lots of ideas- no actual writing
8. Lose 10 lbs- FAIL
no progress
9. Donate $200 to charity- FAIL
I have not selected a charity yet.
10. Get more life insurance- FAIL
Was hoping to lose weight first.
11. Build a separate car maintenance fund. - FAIL
Waiting on travel vouchers.
12. Look into and focus on career options.- IN PROGRESS
I have been looking into other careers outside of the practice of law.
Saturday, April 8, 2017
Retirement Goal Status
I was able to put $600 towards my retirement goal in March! That means I only have $400 left to put in my Roth for 2016, which I should be able to to with my next paycheck on 4/13. Then my Roth for 2016 will be maxed out! Next, I can start the battle against my Roth IRA contributions for 2017. I don't know how everyone else feels, but, to me, it feels so hard to actually build up a lot of cash for retirement. The fact that I can only put $5,500 per year into my Roth sucks. I really wish they would raise the contribution limits. I haven't bought anything this year because the market has been pretty crazy, "financial experts" are forecasting a market correction and I haven't had enough money to buy a new mutual fund ($3,000 minimum for vanguard). Anyways, only $7,900 more (out of $9,500) to put away for retirement in 2017.
Hopefully my next post will be a quarterly update on my yearly goals as-if you can believe it- it's already April!! I don't understand how time flies to fast now.
Hopefully my next post will be a quarterly update on my yearly goals as-if you can believe it- it's already April!! I don't understand how time flies to fast now.
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