5 month financial checkup

[disneysteve]

Before we got fiscally disciplined, my wife would frequently say, "Well, I'll just work more hours". My consistent response was that there are only so many hours in the week, and that she was only making $X/hour.

We actually have the opposite problem at the moment. I just got a new PT job that pays extremely well, way better than my regular job. Plus they always have open shifts they are looking to cover. So theoretically, I could work way more and earn way more, easily 10K/month or even more if I really wanted to. I know I don't actually want to work that many hours but I can't deny that's it's very tempting. I could pay off our mortgage in about 5 months if I jumped in full force like that.

[corn18]

... he tried to out-earn his stupidity. That only works for so long and then it all catches up with you.

That's exactly what I was trying to do. This is a great corollary to you can't outrun a bad diet. I had to fix my diet before I could lose weight and get healthy. Had to fix my money management before I could truly save money. Life is good.

[sv2007]

Overall YTD is at around 5%, not too bad considering the bulk of that is in mutual funds.

[Jbone]

It is correct. I hesitated when I wrote the post to hit submit, but then I thought about how much SavingsAdvice.com has helped me get to this point and decided to post. SA (and the kind folks that post) are one of the key contributors to helping me grow my net worth from ~ $7k in 2012 to where I am today. I was one of those people that appeared rich but was living paycheck to paycheck. With the help of SA (and The Millionaire Next Door), i now save 40% of my gross income (60% of net income, I pay a lot of taxes) and I'm on track to retire in 10 years @ 60. Without your help, I would have been in serious debt until I died.

I sometimes feel like I am out of place on SA because of my income, but then I remember that the tenants that SA tries to convey apply to everyone. I feel very thankful for everyone on this site so I stay and share my story. I hope I can help others as they have helped me.

Tom

This may be me being a bit nosey so if you wish not to answer that's quite alright.. But what's your profession? Or is your income based off of several different sources?

I wouldn't say you are entirely out of place. Like you said your income level doesn't really matter. The principal of saving is the same regardless of what your income level is. You just have to have the discipline to manage what you do with your money.

[corn18]

This may be me being a bit nosey so if you wish not to answer that's quite alright.. But what's your profession? Or is your income based off of several different sources?

I wouldn't say you are entirely out of place. Like you said your income level doesn't really matter. The principal of saving is the same regardless of what your income level is. You just have to have the discipline to manage what you do with your money.

I am president of a division in a megacorp.

[tripods68]

Beginning of June -

We're on Track for 2016 so far:

$18,466.33 Retirement Contributions + ROTH
$11,408.24 Employer Contributions
$12,951.78 Taxable Savings/Investment
$42,826 Total

Net Worth up $46,444.65