Quote:
Originally Posted by jIM_Ohio
Broad plan
save some for cash
pay down debt some
save more for retirement
look for tax savings as well- 401k-HSA and similar
What are your total monthly expenses?
What is your total monthly gross income?
What is your total monthly take home income?
What is your normal tax return?
How much home equity do you have?
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Thanks for your reply Jim. Check out my response to Disney Steve regarding income and expenses. As far as normal tax return, I can't answer that since we are only 6 months in to making this level of income.
Equity in house 7000 owned for 1.5 yrs
We have a bonus of 25,000 gross coming to us in March that we were planning on placing into an emergency fund. Although it will probably be more the in the ballpark of 13,000 after taxes.
That should get us started for savings-plus our credit card debt will be gone by then as well according to my plan.
What are your thoughts on the 401k situation regarding limits to contributing??