| Now that the student loans are behind me (thank the good Lord!!!!), I am focused on asset acquisition. I have increased my mortgage payments to their 30-year amortized rate rounded up and that's where they will stay for now. I have two paying roommates, and while this is not the 'ideal' scenario for my life, it helps out tremendously. In fact, if not for that, I would not be able to justify holding on to the property given it's costs vs. value. Anyway, I digress...
I have increased my 401(k) contribution to 10%, and as of the beginning of the year I will be contributing the full $17,000 IRS is allowing for tax-deferred contributions in 2012. That will be a first!! I will contribute to my ROTH as much as I am allowed based on my Adjusted Gross Income. All of that has me around 15% of my gross income being contributed to retirement accounts, and I also have the 5% company match, so I'll be at 20% gross being socked away as of 2012. Happy about that.
I am next focusing on the 6-months-of-expenses-emergeny-fund. I'm not sure what my take home pay will be with the max. 401(k) contribution, so I'll know more about how much I can put in the e-fund in early January. I think I may be able to put in about $1,000 - $1,500 a month. Once I hit that goal, I will move towards building the taxable portfolio. Looking ahead...
Good news is that I received the highest performance rating and should be getting a decent bonus in the coming weeks. Prayerfully that will cover Christmas spending and pad the e-fund. I also started using Mint.com to track spending and budget. I am pretty addicted; it's awesome for those of us geeks who like to see trends and make comparisons and see things in pretty charts and have goals laid out for you, etc.
All in all, I'm feeling optimistic and thankful.
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Home value is updated monthly from Zillow.com/Zestimate
(Purchase price was $370K in August 2006).
Other Mortgage = HELOC/2nd Mortgage
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