July 27, 2021July 26, 2021 FOGA

Revisiting Our 2021 Financial Goals

Goals, Money

The year is over halfway through. Considering the shit that 2021 has thrown at us, this is a huge achievement and we should all be proud of ourselves and give ourselves a round of applause.

Being that we are a little over halfway through the year, it is time to check in on where we are on our 2021 goals. Aside from giving me a free blog post (😉), revisiting our goals also allows give me a chance to look back and make sure that we’re getting what we want to get done done. Or, in some cases, wonder why the hell I made certain goals. I don’t think there are any of that last bit this time but you never know. So, how are we doing:

• 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.
• Increase monthly IULs to $250 each
  • Done and it’s going okay.
    • Updated goal: $300 each
• 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.
• Pay an additional $25,000 towards the mortgage principal
  • $21,080 so far. The mortgage is under $200K.
• Make house savings account for $10,000
  • Done. 👍🏾
• New/Amended Goal: Total Investments $30,000
  • Original Goal: Invest $25,000 in VTSAX
    • Corrected this goal since I have more than VTSAX now.
  • VTSAX: $13,500 so far
  • Employee Stock: $3000 so far
  • SWTSX: $1000 so far
• Make $250,000 gross income in 2021
  • On track. 🙂
• Get to a Net Worth of $450,000 (including the house)
  • $394,000 so far
• Give $10,000 towards charity/direct aid
  • $3511 so far
    • Had to pause on this a bit since a lot of my paychecks got pushed back due to material shortages. Should be able to do more with this after September.
    • 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. Especially considering that I have only had one paycheck since June 1st. We still have 157 days left in 2021. Let’s do this!