October 5, 2021October 4, 2021 FOGA

Re-Revisiting Our 2021 Financial Goals

Goals

It’s a new quarter, and we have less than 90 days left in the calendar year. Time to do a quick check-in on where we are for our 2021 goals. Especially now that I am getting paychecks again. 🙂

Here are the goals and updates:

• Figure out how the hell a backdoor Roth-IRA works 
  • If it makes sense, open Traditional IRAs for both of us
    • It 100% makes sense. Going to get this done in September/October.
      • Done! Opened traditional IRAs and both are maxed out.
• Increase monthly IULs to $250 each
  • Done and it’s going okay.
    • Updated goal: $300 each
      • Not increasing it. Instead the goal is to pay the different to max out both the contributions for the year.
        • Mine: $1997
        • Mr. FOGA: $9550
          • This is especially important since he does not have the 401K option anymore.
• Max out my 401K
  • All done!!!
• Get Mr. FOGA to 2/3 Max of 401K
  • May not be a thing we are working towards anymore. More on that in a future post.
  • Definitely not a thing. Mr. FOGA is offically a househusband.
• Pay an additional $25,000 towards the mortgage principal
  • $21,080 so far. The mortgage is under $200K.
  • Completely done and surpassed! 🥳
    • Additional paid so far: $31,200.
• Make house savings account for $10,000
  • Done. 
• New/Amended Goal: Total Investments $30,000
  • VTSAX: $20,000 so far
  • Employee Stock: $6600 so far
  • SWTSX: $1000 so far
    • Only $2,400 to go. 🤩
• Make $250,000 gross income in 2021
  • On track. 
• Get to a Net Worth of $450,000 (including the house)
  • In July: $394,000 so far
  • Done and surpassed: $485,000 so far
    • New Stretch Goal: $550,000 New Worth (including the house)
• Give $10,000 towards charity/direct aid
  • $3511 so far
  • $5513 so far
    • Special thanks to Revanche for some awesome recommendations for direct giving in a Good Things Friday post.
    • Help my friend with money for a divorce lawyer
      • Here is the post all about it.

All in all, I think we are kicking ass and are on track to make all the goals and then some. 87 days left in 2021. Gonna kill it.

How are your goals going so far for 2021?



Feature Photo by kazuend on Unsplash