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Updated Totals

June 24th, 2009 at 02:11 pm

Not much to report, but I paid all the July bills (er, set them to pay on due dates) and updated my savings totals, to the left.

This year we have saved just about $7950. So, only $50 shy of my original $8k savings goal. Woohoo!

My goal has since been revised to $10k, but saving $400/month + interest, will get us there easily, by December.

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Our cash total is hovering around $22k-$23k, currently.

My goal is $30k cash (solid 6 months of income) before we will consider putting more into our IRAs. One maxed IRA is fine, for now. I expect by 2011 we will be maxing out both our IRAs. (Or likely, be able to max out 2010 during 2011).

So, definitely making some nice progress.

No plans to prepay a dime to the mortgage, until our ROTHs are maxed. Since our retirement is doing well, as is, I am excited to move on to mortgage pre-payments, etc. BUT, can't pass up the awesome tax benefits of the ROTH. I guess my big pie in the sky goal, for now, is getting to mortgage prepayments once again. Something we haven't particularly achieved on one income (of course, neither have we achieved maxing out IRAs, etc.). I guess it's ALL exciting.

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I guess, as a review, our goals are to:

1)Get cash savings back up to snuff
2)Max out ROTHs
3)Resume mortgage prepayments

In that order, yes.

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