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Fiscal Updates

May 24th, 2014 at 03:24 pm

Fiscally, things are going quite well.

*knock on wood*

Aside from saving up for our homes, we are maybe $5,000 away from the most we have ever had in savings. Which would be more than we have had saved up since having kids. I don't know the exact (peak) figure since I just track net worth every 12/31. Since my first pregnancy went so well we diverted a lot of that money into retirement that first year. So pre-kids was the peak; we were saving up for multiple maternity leaves and so on. We spent it down and redirected because we never imagined dh would be out of work 5 years later, much less 12 years later! It's been slow going to build that back up, but we are getting there.

Along the same lines, I wanted to update about a "big picture" goal. Last year we achieved more assets than debts. We've always had a positive net worth, but I mean we reached the point where we could pay off our mortgage with our savings and investments. We reached that goal in March 2013.

Where are we today? Today we could pay off our mortgage and have $50,000 left over. Woohoo! I think that's great progress for one year. (& that was with a very very expensive and trying 2013).

The next big goal for us? More in retirement savings than owed on mortgage. We are within a few thousand dollars of that milestone.


After years of consolidating and cleaning things up, we seem to be moving in the opposite direction. I am opening more accounts (two taxable investment accounts this past year) and I have to open a Traditional IRA for dh. He only has a ROTH. We had converted all of our money into ROTHs during some of our lowest income years, but I have a Traditional IRA from a work retirement plan rollover in the years since.

OF course, the kids have their 7% savings accounts and I just opened two bank accounts for bonuses. So, yeah, it feels like I am opening a LOT of accounts. I suppose that is a GOOD thing.

5 Responses to “Fiscal Updates”

  1. creditcardfree Says:

    More accounts is means you have money to put in them! We may be opening some traditional IRAs too this year, once I figure if it is worth it for the tax deduction.

    I like how you look at assets vs debt. We do have more invested in retirement than we owe on our mortgage, so I do like that! Smile

  2. NJDebbie Says:

    Great job!

  3. Jenn Says:

    I think it's motivating to recognize those milestones, even though they aren't goals. I hit an odd one this week that occurred to me as I checked my accounts: I now have 401k in my 401(k)!

  4. LivingAlmostLarge Says:


  5. FrugalTexan75 Says:

    What a great milestone!

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