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Failure is NOT an OPTION!!!

May 1st, 2016 at 11:08 am

Update for May:

Year-To-Date, our retirement balances are still down 1.62%, although our Net Worth is way UP compared to last year this time, mainly our debt obligation went down to “zero” with the exceptions of our existing mortgage. I will say, the market has gained momentum that help recover losses from Jan & Feb.

This month we are paying off our daughter’s private tuition for next year, due including registration $5K. Wrote a check for the entire year yesterday.

We had multiple goals in the beginning of the year & completed goals
1) Prepay San Diego trip and Lake Tahoe vacation. DONE.
2) ROTH 2016 Fully Funded by April. DONE
3) Christmas Fund $2500. DONE

4) Car Fund
5) Home renovation

For the rest of this year, we can now focus on goal 4 & 5. We’re pretty excited to get this started.

Overall, our Expenses including savings + car fund minus tuition going estimated $13,600 for May. June is our breathing room. But we can still manage if we stick to our budget which we are. Failure is not an OPTION!!!


April's Progress Savings/Retirement

April 2nd, 2016 at 05:08 pm

April is starting well. We fully funded my ROTH (Vanguard $5500) for 2016 & Xmas fund ($2500). The next phase of focus are retirements, car fund, savings/home renovation for the remainding year.

While we continue to add extra principal payment, we have severals big items coming up 1) our two dogs need teeth cleanings, 2) looking for a decent treadmill, 3) kitchen renovation. Not exactly sure how much this will cost, but we are hoping to cash flow most of the cost (once we have bidders), except the kitchen which we have set up fund on monthly basis. We need treadmill because of our allergy. I love running but on 'hot days' its tough to get outdoor. So we're hoping to find one soon. Our kitchen needs new garbage disposal and new dishwasher. But DW wants to redo the kitchen & the bathroom. Im guessing we need to tackle the kitchen first. Once we the know the cost and how much to spend, we can start funding it more aggressively, if necessary we can redirect the car fund to renovation fund.

We've been going back in forth for several weeks whether to increase my wife's 403(b) & 457 contributions. Right now it set up at 8%, but we finally decided to increase to 10%. Our goal this year is to sock away a total of $28,937.77, or 15% gross income, excluding our State & UC mandatory public pension contributions.

April's Savings:
1) Car Fund - $3,600
2) X-Mas Fund $2,500
3) 529 Plan - $400
4) Savings/Renovation $1,300

Retirement Contributions:
5) ROTH - $5,500
6) 457 Deferred - $4,000
7) 403b - $1,836.80
8) 457 UC - $282.40
9) CALPERS - $1,368.00
10) UC RET - $1,836.80

Contributions
Savings: $7,800.00
Retirements: $14,824.00

YTD Total Combined: $22,624.00

2009 Goal Update

January 10th, 2009 at 11:42 am

Last year was a great year in many ways except the market of course which I will not talk about. We we were able to saved $12K for our EF and reduced our debt significantly. We paid attention to monthly spending plan which include everything and avoided the use of our credit cards completely. We also established both our term insurance at work.

This year, we will continue putting money towards EF, Roth, and vacation/gift fund. But our main focus this year is to pay off our van which we still owe about $12,298.15. I just made $1000 payment last week. I'd like to pay that off by November if not sooner. That will clear $700 a month extra towards savings & retirement contributions, and some for home repair costs.

Several things will be happening next month. DW will be traveling to the Philippines to visit her family and friends for two weeks. She saved about $4K last year. She's looking forward for this trip, while I will keep the fork. But I'm glad her aunt and my parents volunteer to help me since I will not take any vacation.

We also anticipate to owe the IRS this year about $1K, first time in our 5 year marriage. We also anticipate to do some remodeling, repainting in our family living rooms. Redecorate the kids rooms and also minor wall repairs. Our kids totally trash our walls and made existing holes even bigger. Oh yeah! We bought a new CalKing bedroom when our kids pretty much destroyed our footboard and rails connecting to it. That was $698 plus insurance coverage, just in case.

Our 2009 Goal - Pay off car loan

December 22nd, 2008 at 01:13 pm

El-Erian of Pimco said on CNBC market bounce for 2009 "will be a prolong U shape because govt bailouts. In the good ole days, government was a referee. Now the government is both referee and the player. Government involvment changes the rules and regulation which makes things unpredictable and creates distortion." This doesn't bode well for our investment outlook, so we decided to change our contributions to maximize the highest benefit.

We're not completely pulling out from the market. We are long term investor while still putting contributions towards our pension and DW's 403(b). But we won't be putting extra towards ROTH and IRA this year. Instead we are going to apply those contributions in paying off our family van (06 honda odsyssey) anywhere from $300 to $400 a month extra on top $700 monthly payment. Our car balance as of today $13,291.00. We plan to pay it off by Dec 2009.

In January 2010 we should have an extra $700 a month to do whatever we want. It most likely going to towards EF until we figure it out.

Mid May Report

May 16th, 2008 at 07:07 pm

We just sock another $956 towards our EF. And we are still just half way till the end of May. This is so much fun...We're just taking names and kickin ass folks! Smile

Diet again!

May 16th, 2008 at 10:45 am

My mom bought this diet powder (chocolate and vanilla) for me to try; 1 for breakfast and dinner. I tried it this morning and it taste awful. At least I can eat anything I want at lunchtime. It's almost 11 am and I just want to gobble a burger or something. The urge is just killing me....Now I have a headache so bad. Thinking happy thoughts....happy thoughts....imagining losing 30 pounds by July....happy thoughtsSmile