2021 Goals?

[disneysteve]

Who else besides HR should know for sure?

HR should have known for sure. It wasn't hard to see. A simple look at the calendar showed it perfectly clearly.

There are a couple of reasons that come to mind: Your annual taxable income for 2020 will be higher.

For us, since we are doing Roth conversions up to the top of our current tax bracket--it means that we can't convert as much. Also, since we will both on Medicare next year we have to be mindful of bumping ourselves up into a higher payment schedule for Part B.

That all makes sense. Thanks. I honestly wasn't sure in what situation it would matter. I suspect it doesn't impact that many people as one extra check won't throw too many folks into a different bracket but obviously there are some who are right on the cusp.

[Like2Plan]

HR should have known for sure. It wasn't hard to see. A simple look at the calendar showed it perfectly clearly.

I think so, too. I think what threw them off was normal pay day would have been on 1/1/2021, but since Jan 1 is a holiday they decided to move it one day earlier (I'm not sure when they made that decision). If they kept the pay day in 2021 by moving the pay date later like next business day--there would have been 27 pay periods in 2021 instead. Where I used to work, HR would have sent out info (about the 27 pay periods) in the fall before (when most people were figuring out their 401k elections for the upcoming year).

[frugal saver]

I generally try to have a bunch of investment/saving goals, but this year is going to be a change.

Early spring I'm having automatic sprinklers installed front and back--water bill here is over $200 in the summer, and having perfectly timed water will save a lot of money over me trying to remember to move the hoses every day.

Then I have to have the outside of the house repainted and the fascia replaced. Not money saving, but the neighbors are starting to get that frowning look when they gaze at my house.

If I can get both of those worked out, I'd like to add to my CDs and stocks--but the interest rates on the CDs are horrible, and most of the stock I currently own seem overpriced to me. Maybe it's better to just upgrade the house a bit and see where the economy sits by summer.

[cypher1]

Roth IRA is ready to go for next year, as well as an extra mortgage payment for principle only. I may move back into my house come early summer, so keeping extra cash ready for projects and repairs. Planning to complete AS degree in accounting by end of 2021.

Part of this year's goal was to setup estate planning/will, but got distracted. So rolling that goal over to next year. Ultimately stay the course to continue saving/investing 30-35% of my gross income throughout the year. Maybe squeeze in a hiking trip in between semesters for domestic travel.

On a more mental/physical topic, I want to continue going to gym a minimum of 5 times per week, and continue cleaning up diet while reducing meat consumption (not gonna completely cut out). I've also procrastinated (using school as an excuse) on finding a therapist to help with stress and emotional growth.

[disneysteve]

I want to continue going to gym a minimum of 5 times per week.

I'm really hoping that by mid-2021 going to the gym will be a thing again. We both really miss that. Until about 2 months ago, I was keeping up with at least some home exercise but I've fallen completely off the wagon since then and haven't been doing anything.

[cypher1]

I'm really hoping that by mid-2021 going to the gym will be a thing again. We both really miss that. Until about 2 months ago, I was keeping up with at least some home exercise but I've fallen completely off the wagon since then and haven't been doing anything.

I don't blame you. Gyms opened up in MN on 12/19, so I got back into them a few days ago after my trip. I must say I've been sleeping better since going back.

[Like2Plan]

Well, I just did my last conversion for 2020 (on a day that the stock market is at an all time high )
Next, I have to figure out our 2021 plan...

[disneysteve]

I don't blame you. Gyms opened up in MN on 12/19, so I got back into them a few days ago after my trip. I must say I've been sleeping better since going back.

Oh gyms have been open here for months but there's no way we're setting foot in one, just as there's no way we'd dine inside a restaurant even though that's allowed too.

[kork13]

2021 will be busy for us. I'm going to be traveling for an exercise for ~4 weeks in Jan/Feb, DW is giving birth to our first daughter (child #3) in mid-March, then I'm going to be deploying from Apr-Oct (already looking at options for a nanny or similar to help DW with the kids while I'm gone).

But as far as goals, here are the most notable ones (though I have more than this set out, and in more detail):

FINANCIAL:
- Stick to 15% of gross going into retirement accounts. Max 2x Roth IRAs, rest into Roth TSP. I could max the Roth TSP, but I need to build up a non-retirement bridge account.
- Rebuild taxable investments after selling off to buy our current home outright. Build $70k-$75k total (up by $50k) by end of 2021.
^^These work toward the longer-term goal of $1M invested between retirement, rental real estate, and taxable investments by end of 2022. We're getting close, about $850k right now, so we could potentially cross that line at some point during the next year.
- Continuing to add to DKs' 529s (and opening one for our new DD), ~$4500 total.

PHYSICAL:
- Return to running/working out 3+ times weekly. This has dropped off alot (just 2-3x/mo) with the cold weather, being super busy, and so on.
- Get steady weight down to 165-170lbs. Between high stress/ops tempo at work, classwork, family obligations, holidays (+associated sweets), and so on... I've been sitting around 180 for the last year, but 165 is definitely a more comfortable/reasonable weight for me.
- Prepare toward & run a half-marathon in Sep'21

PERSONAL:
- Use 30+ days of leave, including a long trip in Oct/Nov after I'm back from deployment, and another trip in Dec up to Alaska. This is always a challenge for me -- I never take enough time off, and for the last few years I've ended up losing at least a couple weeks of leave (we get 30 days/year).
- Refocus more on my faith (daily study, prayer, etc.)
- Finish my masters degree (3 courses including my thesis remaining, planning to finish in Oct'21). For DW, finish pre-req's needed to apply for a Physical Therapist doctoral program.

[Scallywag]

Congratulations on your daughter, Kork!!!!!

[Snicks]

I am going to try to survive the endless lockdowns, which in my opinion are never going to end.

[disneysteve]

I am going to try to survive the endless lockdowns, which in my opinion are never going to end.

Sadly, the longer people keep ignoring them, the longer they will last.

I see so many COVID patients every day who got sick simply because they didn't follow the rules. They still had their Thanksgiving and Christmas gatherings and then multiple family members ended up sick, some seriously or even fatally.

At this point, I really don't have any idea how to get the deniers to accept reality.

[cypher1]

Just maxed out Roth and did an extra mortgage payment, so that's two already off my list.

[Singuy]

Reduce work hours to 24hrs/week
Max out 401k for my wife and I
Not selling a single share of my stocks
Invest into some lower volatility equities that pay good dividends.

[disneysteve]

Invest into some lower volatility equities that pay good dividends.

I don't think I've seen you mention that before. I hope you'll share your picks with us. I'm curious what you feel is a good dividend in the current market.