Savings Story

$48,000 Goal Update: 6 Months

I’ve been making steady progress towards my goal of saving $48,000 in 2007. In the middle of June, I ‘borrowed’ a little money from my ING Direct account so that I could go ahead and fully-fund my Roth IRA for 2007. Now I’m working on rebuilding my ING Direct account. (Remember, no matter what my current goal is, I always…

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Savings Story

Baby Steps Rock But It’s Also Fun To Crawl And Run

I’m a huge fan of Dave Ramsey and his “Baby Steps” (pdf). I love the way that he sets out seven, basic steps for debt reduction, retirement, and financial security. Personally, I think that the most important Baby Steps are the first two: Have a $1000 mini-emergency fund and then use a debt snowball to payoff your debts. But, I…

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Savings Story

I’ve Maxed Out One Roth IRA For 2007!

In March I opened two Roth IRAs, one for myself and one for my wife. In April I ‘borrowed’ $5000 from my savings account so that I could fully-fund both Roth IRAs for fiscal year 2006. The total contribution for both accounts equaled $8000. Since April, I’ve been working to replace the $5000 that I ‘borrowed’ from my savings account.…

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