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  #1 (permalink)  
Old 11-26-2017, 10:19 AM
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Default Post your financial goals for 2018

For us, it's simple:

$1M in savings. We're at $800k right now.
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Old 11-26-2017, 02:32 PM
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buy vacation/retirement house in the mountains
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Old 11-26-2017, 05:34 PM
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I haven't set any formal goals.

That said, as long as the market cooperates, I hope to join you with a $1M portfolio. We're around $970,000 at the moment.

I want to pay down our HELOC. It is currently about 14K and we will probably draw another 7K next month for tuition. After that, I'm hoping we can pay at least $1,000/month on it if not more.

That's the main stuff on the front burner right now.
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Old 11-26-2017, 06:36 PM
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Resist the temptation to pay extra on the new mortgage.

Then the usual Roth (max it) and 401k (15k) goals.

On track to eliminate one car payment in 2018 - $450/month i won’t have to spend

Congrats to corn and Disney Steve for goals to reach the 2-comma club!
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Old 11-26-2017, 06:41 PM
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I'd like to pay off my existing debts (personal and business).

Grow my net worth by 10%.
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Old 11-27-2017, 01:09 AM
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Hitting half a mil in our taxable accounts. We should be at around 280k by year end of 2017. If some of my individual stocks ends up doing well, then I'm hoping for 600k-750k by end of 2018.
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Old 11-27-2017, 03:26 PM
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My goals aren't as exciting to write home about as some of yours but here they are:

1. Make at least $50,000 in 2018 (I'm self-employed so my earnings depend on my input);

2. Pay off 10% of our mortgage.
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Old 11-27-2017, 04:59 PM
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Quote:
Originally Posted by SavingMoneyGoals View Post
My goals aren't as exciting to write home about as some of yours but here they are:

1. Make at least $50,000 in 2018 (I'm self-employed so my earnings depend on my input);

2. Pay off 10% of our mortgage.
Your goals don't need to match my goals to be significant. As long as they are significant to you, that's all that matters.

How long have you had your mortgage? Paying off 10% of it in a year sounds big.
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Old 11-28-2017, 07:50 AM
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Most importantly incur $0 in medical expenses
$100k in retirement accounts
Continue to pay all CCs in full monthly
Knock 6 extra payments off mortgage
Continue to fund children's 529 on target
End the year with more in taxable accounts then I started
Spend a bunch on vacations and making lifelong memories with my family
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Old 11-28-2017, 09:00 AM
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Have $500,000 in the retirement accounts by the end of the year. We have $450,000, so it should be doable as long as the stock market doesn't tank.

Move! We have been looking for over a year. I'm tired of putting all of our plans on hold until we get this settled.

Have $20,000 in our daughter's college savings. As long as we don't change our monthly contribution amount, we should do this easily.
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Old 11-28-2017, 09:02 AM
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Quote:
Originally Posted by disneysteve View Post
Your goals don't need to match my goals to be significant. As long as they are significant to you, that's all that matters.

How long have you had your mortgage? Paying off 10% of it in a year sounds big.
We got the mortgage this year. I need to be careful about penalties for paying off too much in the first 3 years. It would be smart for me to re-check the agreement to make sure I'm not fined.
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Old 11-28-2017, 09:24 AM
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Our "big picture" goal is to increase net worth by $60,000. (Most of this would be investment gains).
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Old 11-28-2017, 09:35 AM
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Quote:
Originally Posted by MonkeyMama View Post
Our "big picture" goal is to increase net worth by $60,000. (Most of this would be investment gains).
MM - do you guys have a plan to get there? Like adding more principal to your investments or changing your asset allocation?

I am asking because this is the part of personal finance that I love.
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Old 11-28-2017, 09:37 AM
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Move to the US with daughter and husband (we need to pass the lottery interview first) and be able to support ourselves there in the first months. It would be pretty rough.
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Old 11-28-2017, 10:45 AM
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I havent really thought about financial goals yet.

We will begin paying mortgage on Jan 1...for the next 15 years.

Right now we have $786,000 in our accounts, retirement/savings/taxable. Unless market makes a correction which is very possible...would be nice to get above $900k by end of next year. Thats about all I can think of.
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Old 11-28-2017, 11:13 AM
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We haven't looked at specific numbers yet, but the main goal is to have a second baby without running out of cash. I need to get some specific numbers and start figuring out how much we can set aside for other goals and still pull that off.
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Old 11-28-2017, 11:25 AM
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Quote:
Originally Posted by james.hendrickson View Post
MM - do you guys have a plan to get there? Like adding more principal to your investments or changing your asset allocation?

I am asking because this is the part of personal finance that I love.
We are at a point in our lives where investment returns are building our wealth more than we are (income/savings). So there's not a whole lot of strategy beyond "stay invested."

I am only 40, so I don't see making any changes to investment allocations.

We do save/invest 30% of my income and then invest all of my husband's very small/side income. Retirement has been our primary (only?) financial goal since our mid 20s, so pretty much we just invest as much as possible. Our strategy has always been to "pay ourselves first". Savings/investments first, and then live off the rest.
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Old 11-28-2017, 04:57 PM
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Default Stay Money Smart

My goals are:

1. Stay engaged on SA;
2. Fully fund my ROTH IRA;
3. Maintain consistency in my mortgage pre-payments;
4. Continue to add to MM360 Account.
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Old 11-28-2017, 09:26 PM
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Quote:
Originally Posted by corn18 View Post
For us, it's simple:

$1M in savings. We're at $800k right now.
That's a big jump in one year. I'm near $850k at the moment, and I don't see how I could hit $1M by the end of 2018 (though its a nice goal). I would like to see $925k by the end of year, I could live with that.

Today my GF passed the $950k mark. Maybe she can make it to $1M (she is paying for her kid to go to college, so her savings are minimal right now).
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Old 11-28-2017, 10:20 PM
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I didn't think I (we) had any goals, but now that someone mentions a goal of $0 medical expenses, I realize my big goal/concern is that I remain insured (health insurance)! We're making a change as my husband goes on Medicare, and I have this fear of a bureaucratic screw-up which would leave me uninsured, as it has been through his past workplace that I have insurance.

It was a retirement benefit to be able to stay on the workplace plan so long as we pay the entire amount ourselves. That has been our best way to get insurance. To continue on it this year, my husband must buy part of his Medicare plan through the same system and insurance company.
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