Your financial plan

[MonkeyMama]

I will just choose "taxable investments" then.

[jIM_Ohio]

What debts did I not list? This applies to:
cptacek, kork13, mommyof4, zetta

[cptacek]

Well, the debts I want to pay off are business (farm) loans. Even the credit card was used for business (mostly repairs or fuel). We also have a line of credit that has to be paid off this year.

So, here are my top concerns/goals/plans for this year:
Not take on any more operating loans...instead be able to cash flow month to month without having to bank on the next thing we harvest, be it wheat, milo, soybeans, calves, etc. We should be able to cash flow with the last crop, not the next crop. Of course, while expanding, this is quite tough.

Pay off credit card. Currently around $8500.

Pay off business line of credit. Currently around $28,000.

Continue to pay off coop bill every month so that does not accrue interest at 18%. (usually around $1200 a month, the most was $5500 in one month for fuel and oil).

Make all payments on all capital loans:
Swather loan: $13,000, 3/1/09
Current cattle loan: $6070, 4/1/09
Land payment #1: $9900, 6/1/09
Land payment #2: $3500, 8/1/09
Tractor/baler loan: $4766, 11/1/09
Land payment #3: $9900, 12/1/09

Continue contributing to my 401k up to the company match.

[kork13]

What debts did I not list? This applies to:
cptacek, kork13, mommyof4, zetta

Wow, you can see who said what? ...cool (Edit: nm, I just figured it out. stupid me... )

My 'other loan' is essentially a personal loan. "Career starter loan", $30k @ 1% from USAA. Obviously, given the low rate, I'm dragging those payments out for the full 5 years.

[scfr]

Checked "mortgage already paid off" as the best-available substitute for "will be making a cash home purchase."

[Bimmer]

Last year:
Became finacially aware
CC debt gone!
Created budget
Figured out taxes to get refund in the $100-500 range instead of $5000.
Built 3 month EF

2009:
Payoff car #1
Sell car #2, buy older minivan, reduce monthly payment
Accelerate payoff on debt not listed (personal loan from relative)
Increase 401k contribution at least 2%
Get EF from 3 months to at least 4 months if not more
Try to max out wife's Roth

Not necessarily that order, but I will have minivan for sure, and most likely will payoff car #1 and increase 401k this year (going for 2%, might only be 1%). Having to work with wife that is not as dedicated as me (financially speaking) makes the others more difficult.

[hakuna matata]

Both wife and I turn 50 this year so we are pushing our 401k to the $22K and our ROTH to the $6k maximums. We will put away another half year for our daughter in the GET program (Washington's equivalent to a 529)

No credit card debt
Mortgage is below $95k now
No other debt

[jIM_Ohio]

For the 20 people which responded, but could NOT max out an IRA, care to comment what is taking priority?

[SnoopyCool]

Finding a job for DH. Definitely a financial goal for us.

Then building back 6 month EF.

Then knocking down student loans.