Friday, June 3, 2011

2011 Goals--June Check In

I want to take a look at my goals for the year to see where we're at.  The end of this month will be halfway through the year. 
  • Have $65,000 in liquid savings We are sitting at $55,400 in liquid savings.  I will actually move my business savings over to liquid savings when I quit my current job and we will make this goal.
  • Student loan under $6000 This is sitting at just over $7,000 and I haven't been paying extra.  I really want to pay this off.  I'm just sick of having this debt.  It is only 4.5% but I'm still paying interest.
  • Have car loan under $14,000 No, not on track.  I'm at $16,850 on this one.  This is at 0% so I'm not sure if I want to pay any extra on this to pay it down to 14K.  With my regular payments, it will be at 14.4K at the end of the year. 
  • Contribute $2500 to Roth IRA I have contributed $600 but I actually stopped my contributions.  I should look at contributing when we get our liquid savings goal met.
  • Have ING Stock account to $8000 I actually changed my mind on this goal.  It's around $6,500 in this account but I don't want to add any more to it because my goals don't line up with short term investing in stocks.
  • Have Business Savings to $10,000 (this isn't included in my regular savings) Almost done, this is at $9,900 and change.  I have the money in my business checking so I could transfer it but I'm keeping that money there to pay my quarterly taxes.  I can't wait to be done with the many, many expenses of this job. 
  • Finish Will Done!!!!
  • Complete a 5K Run I haven't even started running or thought about doing a race.  I have been biking quite a bit lately though.  I haven't been completely lazy just in regards to running.
I really need to talk to Y and see what he thinks about what to do next.  I want to pay extra on my student loan.  Y will likely need a different car/truck in the next couple years, too as we are having several engine issues with his.  I think that I should get the liquid savings to $65,000 and do some short term savings for more immediate spending.  Then, I think that I will throw some money at my student loan and my Roth IRA. 

Any suggestions?

5 comments:

  1. I think it's awesome that you have so much in liquid savings. I hope to get there in the next couple of years.

    Why not just pay off the student loans with the liquid savings? I know this would detract from the goal of having enough in liquid, but getting rid of the student loan would probably ease your mind.

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  2. Half way through the year and your are kicking major butt. I'm almost jealous but happy to see you are doing so well.

    I can't quite suggest anything, whatever choices you and Y make will be good. You seem to have a happy future ahead of you with your family :)

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  3. you are doing amazing on your goals for the year so far! definitely an inspiration!!!! Keep it up!

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  4. Thank you all so much for your comments. Sharon, the only reason that we have so much in liquid savings is because we have money from the sale of our other house. We haven't paid off my student loan is because we need the cash to build our house.

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