Although the end of the year is not here yet, by now, I have a pretty good idea of where things are at. And I'm pleased to say that the year turned out better than I had hoped!
Originally, I'd be happy if I could just max out 401(k) and Roth IRA, and if I'm really lucky, I'd also be able to beef up my emergency fund.
Well, both are already maxed out, and if all goes well, my emergency fund should hit the full 12 month level by the end of this year! Yes!
I actually kept a lot of liquid on hand because I thought I was going to have to pay a bunch of legal fees (due to issues that I didn't think could be resolved amicably with my ex). But since that didn't happen, that money is able to stay as a part of my emergency fund.
Anyways, next year is a similar set of goals, but because the emergency fund should be full soon, my next goal is to expand towards a car replacement fund. We'll see how that goes.
For next year, I might also open up a separate Roth IRA, probably with Vanguard and their index funds.... Honestly, the amount of "play money" I have for stock trading right now is enough, and though I've had a miraculous year, I really don't want to risk any more of it.
Oh yeah, and 401(k) contribution is going to go up next year by another $1k, so I have to adjust my contributions, which will affect my budget a little bit. But otherwise, I think that's basically it.
Unrelated side note: Some employees are throwing out more plants. I thought long and hard about saving them, but... these ones are harder for me to maintain. Sooo... sadly, I've decided to let it go.
Year end eval
December 5th, 2008 at 07:02 pm
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December 5th, 2008 at 07:31 pm 1228505478
But if it all goes well for 2009, then perhaps I can pursue a house fund by 2010. Or, if my car is still holding up and I do have to move, then I can still shift some of these funds towards house down-payment, or more likely, rent instead.
December 5th, 2008 at 08:32 pm 1228509153
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December 6th, 2008 at 05:16 am 1228540601
December 6th, 2008 at 05:35 am 1228541718
Sounds like you exceeded your goals and had a successful year!
December 6th, 2008 at 03:58 pm 1228579080
Toyotas have a great reputation. As regards longevity, I think the critical issue is how well maintained/serviced it is, rather than the actual mileage. A good mechanic can keep a car in good order for years n years.
I was in a similar situation to yourself in that I had a 97 VW with 157k on the clock & while it was running fine, I had a feeling there would be mechanical issues on the horizon even though I got it serviced regularly. The real reason I traded up was I wanted a more modern car.... not the best from a Personal Finance perspective... but, eh I'm only human !!
Got a 04 Honda Jazz (Fit in US) by the way - highly recommend - sips gas.
December 6th, 2008 at 05:10 pm 1228583456
Celebrating.... Well, I don't have anything particular in mind. I'm actually fairly content with the way life is going right now. And things have become enough of a habit that I don't feel like I'm missing out on anything.
Besides, despite having a good year, I will still need several more like it before my financial health can be at a good level. As it is, things can still fall apart if I am not careful.
That said, I guess I wouldn't mind doing something just for fun anyways. Probably going to eat a buffet somewhere. Hehe.
Thanks everyone!
December 6th, 2008 at 06:42 pm 1228588932
December 6th, 2008 at 07:10 pm 1228590648
December 9th, 2008 at 01:04 am 1228784645
I only have a 10 month EF but it will have to do for now. I am actually pretty happy with it at the level it's at.
Anyway, way to set and get those goals. Best of Luck in the future.
December 9th, 2008 at 04:51 pm 1228841507
I have a "99 Honda Civic. Like you, I'm saving for another car. A good idea is to start thinking about what kind of car you want and do alot of research. When you get ready to buy, you should know more than the salesman about the car you want. That's what I did when I bought my Civic. I did alot of research and so far I have been very happy with the car.