iam21177
Recycles dryer sheets
- Joined
- May 26, 2011
- Messages
- 159
Do you have any financial changes for 2015, Young ER Dreamers?
We have updated a few of our contributions due to the new 2015 limits. We did some end of year analysis and figured we can start contributing to our 403b which were put aside for a while. The plan is $1000/mo for each of us on top of the maxed Roths, 457bs, HSA. Our employers contribute 14+% of our salaries as part of our benefits (401a). So we went from an equivalent of 49% of our income going to retirement to 64.4%! Excited to see how this goes! The take home it leaves us should be more than enough for us to live on and there's a buffer savings too.
We are also looking to refi the house and get a shorter term, so the pay off date will be sooner but for less than what we're spending now. Woot!
Other than that, husband plans to cut cable AFTER the super bowl (savings of $95/mo). His teams just disappointment him he complain. I asked if he's happy when they win and he said it's just more a relief. He's ready to put this anguish away for a while!
I'm planning on stopping (or severely curbing at least ) my clothing purchases. I've overhauled my outdated, ugly wardrobe with nicer, more appropriate pieces (all thrifted, not a single retail item), and now I think I'm set for a long time. I've eBayed or donated everything else I owned, unless I really loved it. Made about $1500 on eBay last year!
In addition, we'll just pay attention to our expenses more, like that $120/month alcohol expense. I also am aiming to waste less food in general. It's like putting money down the disposal!
Oh and get a will/living will set up also on the list.
We're on track to hit $1M in <2 years!
This could actually be before my 40th birthday!
We have updated a few of our contributions due to the new 2015 limits. We did some end of year analysis and figured we can start contributing to our 403b which were put aside for a while. The plan is $1000/mo for each of us on top of the maxed Roths, 457bs, HSA. Our employers contribute 14+% of our salaries as part of our benefits (401a). So we went from an equivalent of 49% of our income going to retirement to 64.4%! Excited to see how this goes! The take home it leaves us should be more than enough for us to live on and there's a buffer savings too.
We are also looking to refi the house and get a shorter term, so the pay off date will be sooner but for less than what we're spending now. Woot!
Other than that, husband plans to cut cable AFTER the super bowl (savings of $95/mo). His teams just disappointment him he complain. I asked if he's happy when they win and he said it's just more a relief. He's ready to put this anguish away for a while!
I'm planning on stopping (or severely curbing at least ) my clothing purchases. I've overhauled my outdated, ugly wardrobe with nicer, more appropriate pieces (all thrifted, not a single retail item), and now I think I'm set for a long time. I've eBayed or donated everything else I owned, unless I really loved it. Made about $1500 on eBay last year!
In addition, we'll just pay attention to our expenses more, like that $120/month alcohol expense. I also am aiming to waste less food in general. It's like putting money down the disposal!
Oh and get a will/living will set up also on the list.
We're on track to hit $1M in <2 years!
This could actually be before my 40th birthday!