I’m working towards saving $48,000 this year, which is 60% of our gross household income. Click here to read all posts associated with my $48000 goal. Click here to read about my savings and investing goals for 2007. Here’s my updated chart with detailed information: Explanation: I ‘borrowed’ $5000 from my ING Direct Savings Account so that I could fully-fund…
Category: Savings Story
$48,000 Goal Update: 7 Months, A Slight Change Has Been Made
My main goal for 2007 is to save 60% of our gross household income ($48,000) in various retirement, brokerage, and education savings accounts. Here’s my current, updated chart: (I’ve also updated my chart over at the No Credit Needed Network: NCN 2007) I made a couple of adjustments to my chart. Pre-Tax Retirement Goal was increased by $1000 and Brokerage…
Decreasing My Take-Home Pay So That I Can Maximize My Retirement Contributions
I recently adjusted the amount of money that I ‘take-home’ so that I can maximize my 403b contributions for 2007. The maximum contribution amount for 2007 is $15,500. In January, I elected to have $1000 per month contributed to my 403b, but in mid-June I decided that I needed to adjust my contributions. So, my monthly paychecks for July –…