Revisiting Our 2021 Financial Goals

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 (πŸ˜‰), 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 worksΒ 
    • 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
  • 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
  • Make house savings account for $10,000
    • Done. πŸ‘πŸΎ
  • 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. πŸ™‚
  • Get to a Net Worth of $450,000 (including the house)
  • 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!

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