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New Year's Resolutions for 2012
Old 12-27-2011, 07:51 AM   #1
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New Year's Resolutions for 2012

Every year, I normally write down a few things that I will like to do over the coming year and in some ways it brings some sanity to this crazy world.

1. Stop contributions to 401K (need the mula to furnish my 2nd home)

2. Find a solution to my cash portion since some CD's will mature in the coming months (I am open to any ideas here)

3. Choose a retirement date and stick to it.

4. Take better care of my body and just enjoy life a little more:

Will you like to share some of your resolutions?
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Old 12-27-2011, 08:08 AM   #2
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1. Not to make any resolutions.

2. See No. 1.
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Old 12-27-2011, 08:38 AM   #3
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1. Not to make any resolutions.

2. See No. 1.
Same here.

Why lie to yourself?

BTW, to the OP. Why stop contributions to your 401(k)? Assuming you get some kind of match, do you have something against "free money"? You can always put off expenses (such as furniture), but you can't put off preparing yourself financially for the future.

As for #2, DW/me have large cash positions (since I'm retired and DW may soon be) and want to have more than several years of income to cover our respective income without having to depend on the market.

We never looked at CD's as an "investment vehicle", rather than just a place to park your cash for a time. Assuming you are still in your accumulation years (per the 401(k) reference), my opinion is look beyond CD's (as I/DW did during our time while still accumulating assets)

#3/4 are taken care of (I've been retired for several years) ...
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Old 12-27-2011, 11:59 AM   #4
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I am changing my system for keeping track of where the money goes in 2012. I guess you could say that this is a resolution.

My dear F. kept track of every penny that he spent in 2011 by simply keeping careful and thorough records in a spreadsheet. What an amazing guy! We were meant for each other. I love the simplicity of his methods. Anyway, his accomplishent has inspired me to start journaling every single purchase on a spreadsheet too, before assigning it to a category. Also, I am tweaking my spending categories.

I haven't quite figured out how I will handle pennies that roll under the sofa.
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Old 12-27-2011, 12:23 PM   #5
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I am changing my system for keeping track of where the money goes in 2012. I guess you could say that this is a resolution.
...

I haven't quite figured out how I will handle pennies that roll under the sofa.
I'm sure I will be referred to Inaccurates Anonymous by posting this, but I round to the nearest dollar...
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Old 12-27-2011, 02:01 PM   #6
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You are correct with regards to the match. I am giving up free money but it I will be buying the items that I need when I see some good sales. Next year, I am hoping to have everything that I need and take a nice truck load. Depending on how things look at work, it can probably be my last year.

My current allocation is 30 stocks, 30 bonds, and 40% cash which was mainly in CD's and Vanguard's money market but the interest really stinks.
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Old 12-27-2011, 02:05 PM   #7
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My list for 2012:

<1> Keep a good healthy life style: more stretching exercises and no junk food like ice cream, fries, etc.
<2> Paying off mortgage to be debt free.
<3> Spend more time on this forum, learn and enjoy.
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Old 12-27-2011, 02:16 PM   #8
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You are correct with regards to the match. I am giving up free money but it I will be buying the items that I need when I see some good sales. Next year, I am hoping to have everything that I need and take a nice truck load. Depending on how things look at work, it can probably be my last year.
If you get a dollar for dollar match, that's a guaranteed 100% return on every dollar you put into your 401k - why on earth would you pass that up?

Consider a strategy of contributing up to the employer match then borrowing the money to make your purchases for those "good sales". If you do retire next year it looks to me like you could withdraw from your 401k to pay off your loan and still come out waaay ahead...
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Old 12-27-2011, 02:29 PM   #9
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My current employer put a twist in the 401K starting 2009. No loans or withdrawals are allowed under the plan and it includes your contributions and any match.
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Old 12-27-2011, 02:30 PM   #10
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2. Find a solution to my cash portion since some CD's will mature in the coming months (I am open to any ideas here)


My suggestion - use the cash from this for your furniture, and continue contributions to your 401(k).

Happy New Year.
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Old 12-27-2011, 02:34 PM   #11
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My current employer put a twist in the 401K starting 2009. No loans or withdrawals are allowed under the plan and it includes your contributions and any match.
I'm not suggesting you borrow from your 401k or withdraw anything until after you retire.

Take out a loan from a credit union or bank to make your purchases. Heck, with a 100% return on your 401k contribution you could still come out ahead buying with a credit card, then paying off the loan from your IRA account after you retire in a year. You will convert the 401k to an IRA after retiring, right?
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Old 12-27-2011, 02:36 PM   #12
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My suggestion - use the cash from this for your furniture, and continue contributions to your 401(k).
Yep. Even better than taking out a loan...
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Old 12-27-2011, 02:49 PM   #13
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1. Lose 50 lbs.
2. Pick a retirement date (but don't tell my employer about it until it's pretty close).
3. Decide WHERE to retire (with DW's "help", of course!)
4. Other stuff.
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Old 12-27-2011, 02:52 PM   #14
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I haven't quite figured out how I will handle pennies that roll under the sofa.
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I'm sure I will be referred to Inaccurates Anonymous by posting this, but I round to the nearest dollar...
Time to attend the every month or so (randomly) IA meeting?

I have to admit that keeping track to the penny is sort of an OCD thing to do but I'm going to try it, at least until it isn't fun any more. Previously, I have rounded to the nearest dollar so this will be a change.
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Old 12-27-2011, 02:56 PM   #15
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Every year, I normally write down a few things that I will like to do over the coming year and in some ways it brings some sanity to this crazy world.

1. Stop contributions to 401K (need the mula to furnish my 2nd home)
I can understand this--Not exactly the same thing for us, as megacorp had stopped any matching a few years before, but we cut back the level of contributions a couple of years before retiring as all the calculators said we had more than enough and there were things we wanted to do at the time rather than deprive ourselves of (or defer, although that wasn't really an option) some experiences. It all worked out.

I always make the same resolutions so will do so again this year . But we also take this time to look back at the past year and it was a pretty darned good one for our family.
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Old 12-27-2011, 02:57 PM   #16
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I haven't quite figured out how I will handle pennies that roll under the sofa.

1. I will clean under my couch quarterly (arrr, arr, arr...)
2. Clean out fridge completely (including wipe down of all surfaces) at least twice (ok... once)
3. Write some letters -old school, with paper and stamps. I got a few this year and enjoyed finding them in my mail box, the anticipation of opening and reading, etc. Someone else would probably enjoy the same.
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Old 12-27-2011, 03:32 PM   #17
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1. I will clean under my couch quarterly (arrr, arr, arr...)
I am in awe! I'll bet you regularly clean out that black hole between the driver's seat and the console in your car, too. Apparently I drop tons of change down there and it never sees the light of day again. I got back a couple of dollars or so in change when I traded in my Solara...
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Old 12-27-2011, 04:12 PM   #18
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None. But, I do (or should I say did) have an Old Year's Resolution. It is (was) to fill out and send in my retirement forms. As of today, that is done. This has to be the first resolution of any kind I have kept in years!!
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Old 12-27-2011, 07:20 PM   #19
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I plan on exercising more. Not just saying it, but really doing so.

Other than that, I really don't make resolutions.
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Old 12-27-2011, 07:33 PM   #20
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Apply for SSA
Start serious withdrawal from TSP
Give/donate large amounts (after necessary spending).
Clean house and trash/donate/sell just about everything.
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