Tag Archives: 2017

2016 Spending

Although I saved a substantial sum in 2016, I definitely overspent in many areas. It was the year of my wedding so even though my parents contributed a sizable sum to the event, I splurged and spent too much on it outside of their contribution. We did a small “mini moon” which also cost something, but in 2017 we will splurge on a bigger international honeymoon. Here is a quick overview of how my spending went into 2016…

Income (after tax and 401k): $112.4k
Spending: $81.2k
(remaining / savings: $31.2k + $18k  (401k) = $49.2k saved)

Auto & Transport: $5.1k
Bills & Utilities: $1.5k
Education: $2.2k
Entertainment: $1.37k
Fees: $443
Food: $11.7k (yikes)
Gifts: $1.67k
Health: $5.4k (not counting insurance)
Home (rent and home things): $17.3k
Personal Care: $4k
Shopping: $14.8k
Wedding: $9.6k
Travel: $6.2k Continue reading

2016 Networth Checkin: $416,583

Incredibly, 2016 has come to a close. My networth goal for 2016 was  somewhere between $400k and $500k from last year’s $352k finish. I didn’t get (anywhere near) $500k, but I still feel accomplished given my mental health and spending more than I wanted to on my wedding this year. I’ve concluded 2016 with $416,583 in networth, including:

  • $14k in cash
  • $188k in taxable investment accounts
  • $204k in retirement accounts
  • $9.9k in college 529 (for grad school or future kids)

My goals for 2017 are:

  • $15k in cash
  • $250k in taxable investment accounts
  • $225k in retirement accounts
  • $10k+in college 529

TOTAL: $500,000

It will be tough, but this goal should be do-able if I either stay in my current job or find another one that pays close to this one. Even if I reduce my current salary by $20k I should be able to still hit this goal. I must save $84,000 in the next 12 months, or $7000 per month. This is definitely do-able with my current job (I make about $10k after taxes per month), but if I reduce that to $9k per month I can manage to save enough. Any less than that it would be challenging with my current rent and other recurring fees.

I am worried about the costs of infertility treatments (that will definitely ruin my networth goal for the year) but I’ll cross that bridge when I get to it. Even though my mental health is poor right now I know I will feel a huge sense of relief when achieving $500k in networth. It has been a dream of mine since forever ago to achieve half a million in networth prior to giving birth. Well, as I’m not pregnant yet I have AT LEAST nine months before I need to get to $500k. At this rate I’ll have more than nine months to get there.

The Good, the Bad, the Ugly: A Contract with 2017

2017 – how did you get here so quickly? Time continues to fly by, and  although my bank account is looking healthier than it did a few years ago, I am still the same old person. 2017 already looks a bit shaky given our political climate (how on earth did Trump get elected president? So #unpresidented). Anyway, 2017, here are some things I want to accomplish in you — which sounds awkward but you are a year and therefore I’m not doing anything obscene by entering your cavernous orifices via January 1. Continue reading