About Me

Dido

GOALS for 2008

1. Continue to save 15% of earnings (ideally 20%). To do this, I will make special effort this year towards cutting food costs.

2. For 2008 only, put most of that towards short-term savings (CD ladder) to give myself sufficient liquidity during a career change.
Jan 1, 2008 cash balance: $8023
Mar 31, 2008 balance: $8200
June 30, 2008 balance: $8606

3. Do everything possible to make that career change happen! Planning to do an internship this summer and apply for jobs in the fall. Although I'm not a traditional college student, that's what the market is geared for, so I expect the career changeover to occur in June 2009. I am set with employment until then (phew!)

4. Continue paying extra on the mortgage. Goal is to cut my payoff date down to 22 years total (age 67) or ideally 20 (age 65).
Jan 1, 2008 balance: $89,300.
Mar 31, 2008 balance: $89,000
Jun 30, 2008 balance: $88,560

5. Continue investing for retirement--at least 1 million. Goal is to get there by no later than age 65, ideally age 60. Currently I'm on track to do so, as long as I can (1) earn an average of 8%/year on my retirement savings and (2) get some contributions towards my retirement from my employer.
balance 1/1/08: $127K
balance 6/30/08: $121K (market drop)

6. Nonfinancial goals: Lost at leat 15% of my weight (so far I lost weight during Jan & Feb and regained it during Mar & Apr), exercise daily, and maintain at least a semblance of a social life.

ABOUT ME

I grew up just outside of Beverly Hills in a family characterized by both a Depression-era fear of want and a tendency to solve many problems by throwing money at them. I still struggle with both tendencies myself. About 15 years ago, I had a "financial awakening when I read "Your Money or Your Life" and I've made significant progress since then, but I still find the journey a struggle on a daily basis.

$20 Challenge Beginning

June 22nd, 2006 at 06:49 am

OK, now that I have some idea of what the $20 challenge is, I am going to start participating. I have to think about what I will do to put money towards this, but my first step was to go to INGdirect.com and fund a special account for the purpose from my checking account. When I generate any money towards the challenge, I will put it in there so that the money will get saved rather than spent. A virtual money jar!

Posted in $20 Challenge | 1 Comments »

1 Responses to “$20 Challenge Beginning”

arg1211 Says:
June 22nd, 2006 at 08:40 am

Well done! Welcome to the Challenge.

Fiscal Fitness

Aiming to save 15% of my earnings and to lose 15% of my weight in 2008!

$20 Challenge Beginning

1 Responses to “$20 Challenge Beginning”

Leave a Reply