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Started By
Message
Your 2024 Financial Goals
Posted on 12/28/23 at 3:47 pm
Posted on 12/28/23 at 3:47 pm
Lets see how we do a year from today.
1. Fully Funded Roth
2. 3-6 month Emergency Fund
3. Stay Debt free
4. Buy 2nd investment property
1. Fully Funded Roth
2. 3-6 month Emergency Fund
3. Stay Debt free
4. Buy 2nd investment property
21
Posted on 12/28/23 at 4:01 pm to pioneerbasketball
Good thread.
I’ll keep it simple and say: keep my savings rate at or above 2023.
I have some portfolio and net worth goals but that’s going to be dependent on the market not cratering.
I’d love the find a way to get my kid some earned income to max a Roth IRA contribution. That would be one of the best financial gifts I could ever provide.
I’ll keep it simple and say: keep my savings rate at or above 2023.
I have some portfolio and net worth goals but that’s going to be dependent on the market not cratering.
I’d love the find a way to get my kid some earned income to max a Roth IRA contribution. That would be one of the best financial gifts I could ever provide.
This post was edited on 12/28/23 at 4:21 pm
Posted on 12/28/23 at 4:09 pm to lynxcat
Fully max 401k
Max HSA
Max mine and wife’s Roth
Put $10k in brokerage
Create a pet emergency fund of 3k
Pretty ambitious but who knows
Max HSA
Max mine and wife’s Roth
Put $10k in brokerage
Create a pet emergency fund of 3k
Pretty ambitious but who knows
Posted on 12/28/23 at 4:17 pm to pioneerbasketball
40k in emergency fund (5k needed)
Continue assisting sons with paying for college costs above their scholarships (7.5k each)
Fully funded Roth for me and my wife
Continue assisting sons with paying for college costs above their scholarships (7.5k each)
Fully funded Roth for me and my wife
Posted on 12/28/23 at 4:25 pm to pioneerbasketball
Retire
Will likely be this year or next.
Will likely be this year or next.
This post was edited on 12/29/23 at 9:37 am
Posted on 12/28/23 at 4:26 pm to pioneerbasketball
1. Fully fund 401(k)
2. Fully fund profit sharing plan
3. Fully fund HSA
4. Pay off last car note
5. Convert existing traditional IRAs to ROTH and pay tax on gains to get ready for starting backdoor ROTH in 2025
ETA thanks to Lynx:
6. Finalize will. Inexcusable that hasn’t happened yet.
2. Fully fund profit sharing plan
3. Fully fund HSA
4. Pay off last car note
5. Convert existing traditional IRAs to ROTH and pay tax on gains to get ready for starting backdoor ROTH in 2025
ETA thanks to Lynx:
6. Finalize will. Inexcusable that hasn’t happened yet.
This post was edited on 12/28/23 at 6:39 pm
Posted on 12/28/23 at 4:36 pm to pioneerbasketball
I don't have any benchmarks really. Get my emergency fund to an amount I'm comfortable with (whatever it might be). Also my son is entering 3rd grade and he's gonna start getting progress reports. So by EOY my other goal is to develop a "bonus contribution" system for his 529 plan based on his progress. I figure the better he does in school, the better prepared he'll be for college and consequently the more eager I would be to fund it.
I've been very open with him about these bonus contributions and he seems excited to try and get some extra money pitched his way. Let's see if it pays off.
I've been very open with him about these bonus contributions and he seems excited to try and get some extra money pitched his way. Let's see if it pays off.
Posted on 12/28/23 at 4:54 pm to pioneerbasketball
Posted on 12/28/23 at 5:01 pm to BestBanker
Sorry.
Posted on 12/28/23 at 5:34 pm to pioneerbasketball
Increase net worth by 500k. Go from 16 rental doors to 25. Set up a defined benefit plan so I can stop getting fricked paying a lot of taxes.
Posted on 12/28/23 at 5:45 pm to pioneerbasketball
Get more organized.
Need to consolidate one more account.
Got some paper savings bonds to cash in.
Get portfolio more balanced and thinned down to fewer total holdings.
Need to consolidate one more account.
Got some paper savings bonds to cash in.
Get portfolio more balanced and thinned down to fewer total holdings.
Posted on 12/28/23 at 5:47 pm to makersmark1
Ah! Get Will finalized. That’s a big one.
Posted on 12/28/23 at 5:49 pm to makersmark1
quote:
Get Will finalized
One thing I actually have up to date
Posted on 12/28/23 at 5:58 pm to pioneerbasketball
Acquire more bitcoin
Posted on 12/28/23 at 7:38 pm to pioneerbasketball
Make and keep a budget
100k cash in savings
Max 401k, max roth, max hsa
100k cash in savings
Max 401k, max roth, max hsa
Posted on 12/28/23 at 7:43 pm to pioneerbasketball
Cut back work from 60 hours to 50 hours a week.
Fully fund Roth 403b
Do back door Roth for me and wife.
Increase net worth 10%.
Fully fund Roth 403b
Do back door Roth for me and wife.
Increase net worth 10%.
Posted on 12/28/23 at 7:50 pm to Drizzt
1. Max out retirement contributions
2. Get emergency fund from 25k to 50k
3. Increase long term savings from 50k to 75k
Finzalized a will
2. Get emergency fund from 25k to 50k
3. Increase long term savings from 50k to 75k
Finzalized a will
Posted on 12/28/23 at 8:13 pm to pioneerbasketball
1. Payoff mortgage to primary home.
2. Get emergency fund to 6 months of both our salaries, about at 75% now.
3. If 1 and 2 are done work on paying off mortgage to 2nd rental...goal is to have that done by 59, 5 years. Those 2 properties will give me about 2300 in passive monthly income.
2. Get emergency fund to 6 months of both our salaries, about at 75% now.
3. If 1 and 2 are done work on paying off mortgage to 2nd rental...goal is to have that done by 59, 5 years. Those 2 properties will give me about 2300 in passive monthly income.
Posted on 12/28/23 at 8:14 pm to pioneerbasketball
Recently had to spend $17k on unplanned expenses. Replace that amount plus $3k in savings.
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