Just a bunch of financial things without enough for a whole post......
* April 1st Net Worth is DOWN $3842.66 from March 1st's Net Worth. This is mainly due to A-less than stellar stock market gains and B-we bought a car for cash.
* Comparing our net worth(I don't count the house)with 2014 April 1st's figures we are UP $89,985.59 from this same time last year. Two thirds of that gain is because of the retirement accounts.
* Though we are doing well saving, personally I am still not happy with our savings rate. Working off of straight income from Hubs, last year we saved 29+% of our net income. So far in 2015 the savings rate is 28+%.
Who are these people who say they save 70% of their income?!? How is this possible without either sleeping in a tent and eating Alpo.....no, not even Alpo as that's pricey.....Gravy Train!?
Where can I find someone to pay me for just being an awesome human being? ;-)
* It looks like we will spend every nickel of Hubs bonus this year. Between the new to-us car, having the bathroom work done and various trips we are taking this year that need funding, the bonus monies will be tapped out. Last year by comparison we banked almost half of the bonus.
I suppose 2015 is not a great bonus year but at least he got a bonus so I should be grateful.....and I AM!
* I have saved $25.50 in change so far in 2015 in my Sealed Pot Challenge. Pitiful.....
I also have received $19 in rebates and 4 Vouchers for 12-packs of Coke in the mail. I don't hardly even drink Coke anymore! I'd love to see more food/toiletries rebates come down the pike but since the recession "ended" 4 years ago companies just aren't putting rebating opportunities out there. sigh
* Hubs has now decided that he will retire in 3 years and not 2 years. This makes things a bit easier since College Boy will graduate in 3 years as well. He still needs medical insurance until he graduates and finds a j-o-b and I don't believe Hubs retiree medical can cover him once Hubs retires.
While having Hubs retire is a good thing it still scares me. I know we will be fine financially but retirement will be a big change financially and in other ways too. It's something we've been working toward for so long I am having anxiety at it really being almost here.
I must say, if you/your spouse has a good paying job and has finally worked their way up the pay ladder it's kinda hard to let go of those nice regular paychecks even if you know you have enough(or will have enough)to live on after the salary ends. 8-)
Sluggy
* April 1st Net Worth is DOWN $3842.66 from March 1st's Net Worth. This is mainly due to A-less than stellar stock market gains and B-we bought a car for cash.
* Comparing our net worth(I don't count the house)with 2014 April 1st's figures we are UP $89,985.59 from this same time last year. Two thirds of that gain is because of the retirement accounts.
* Though we are doing well saving, personally I am still not happy with our savings rate. Working off of straight income from Hubs, last year we saved 29+% of our net income. So far in 2015 the savings rate is 28+%.
Who are these people who say they save 70% of their income?!? How is this possible without either sleeping in a tent and eating Alpo.....no, not even Alpo as that's pricey.....Gravy Train!?
Where can I find someone to pay me for just being an awesome human being? ;-)
* It looks like we will spend every nickel of Hubs bonus this year. Between the new to-us car, having the bathroom work done and various trips we are taking this year that need funding, the bonus monies will be tapped out. Last year by comparison we banked almost half of the bonus.
I suppose 2015 is not a great bonus year but at least he got a bonus so I should be grateful.....and I AM!
* I have saved $25.50 in change so far in 2015 in my Sealed Pot Challenge. Pitiful.....
I also have received $19 in rebates and 4 Vouchers for 12-packs of Coke in the mail. I don't hardly even drink Coke anymore! I'd love to see more food/toiletries rebates come down the pike but since the recession "ended" 4 years ago companies just aren't putting rebating opportunities out there. sigh
* Hubs has now decided that he will retire in 3 years and not 2 years. This makes things a bit easier since College Boy will graduate in 3 years as well. He still needs medical insurance until he graduates and finds a j-o-b and I don't believe Hubs retiree medical can cover him once Hubs retires.
While having Hubs retire is a good thing it still scares me. I know we will be fine financially but retirement will be a big change financially and in other ways too. It's something we've been working toward for so long I am having anxiety at it really being almost here.
I must say, if you/your spouse has a good paying job and has finally worked their way up the pay ladder it's kinda hard to let go of those nice regular paychecks even if you know you have enough(or will have enough)to live on after the salary ends. 8-)
Sluggy
It will all be okay, you are well prepared and you can't take it with you
ReplyDeleteYes TP, my kids keep telling me NOT to spend it all before I die!
DeleteI think they have ulterior motives....lol
Your last paragraph "spoke" to me - I miss those big fat teaching paycheques though I still manage to save a bit of my pension cheque every month. It does make a difference in how I interact with my money - I really have to think over every purchase. In a little over a year I'll be able to access a 2nd pension and that will really help out. I'm not suffering or anything - it's just "different".
ReplyDeleteThat's great that you will have expanded options in a little over a year from now.
DeleteIf we retire(and we will)before 62 or 66 and 9mos-when our Social Security benefit kicks in-we will be drawing down more of our savings during that time, as well as spending more on healthcare until we reach 65 yrs. when Medicare kicks in.
It's all a big juggling feat until then.
We try to put away up to 25% of our pay into retirement or other forms of saving. One thing I try to keep in mind is that we won't have to replace as much of or pre-retirement income because of what we have taken out now for the 401(k) and health insurance. I will work another ten years in order to be fully vested in my new 401(k) but my guy will be out sooner. We are looking forward to it! Don't be afraid to spend the money you worked so hard to save, otherwise the effort would not have really been worth it.
ReplyDeleteOh, we WILL spend it! lol
DeleteSo maybe the fact that Hub's has never made any money is a good thing..... Don't you just love the sarcastic me?
ReplyDeleteI love all of you! 8-)
DeleteYou know what they say....."Mo' money, Mo' problems."
It will come out OK as you are well prepared. When 'Im-in-doors had a BIG health scare back in 2000 we started to try living on one salary - just in case - and continued even though he was able to go back to work.
ReplyDeleteWe downsized and moved from the city knowing that I would have to give up work to do so. My pensions were another 6 years down the line and by then we were living off DH's pensions. When my pensions kicked in we decided to keep on as we were doing and save mine. Still doing it but using my pensions for fun and travel.
Sounds like a good plan since it worked for y'all!
DeleteIt's nice to have "fun and travel" $ when you retire....
I pray that Den can stick it out until retirement age. When my FIL retired, he said he paid all of the bills with his 4 vaca weeks and then said well, that's it, no more paychecks. It would be almost a leap of faith. You plan and double check but you won't know if it will work until you implement it.
ReplyDeleteIf you plan and keep rechecking constantly until "D" day(or should that be "R" Day?)things should be OK.
DeleteDen has a long way to go onto full retirement....but it will pass in no time!
I think those who save 70% make much more than most people, don't spend what they actually can afford to spend, maybe don't have children, inherited a house...just a lot of variables. A couple in a church I attended spent what I thought was beyond their means. It turned out she was supplement their income with her inheritance that they were blowing through. There is usually more to the story that seems impossible.
ReplyDeleteMost of these folks I hear about saving 70% or young and in some highly recompensed field. I am sure they are living like monks or sponging abit of old mom and dad too so I don't worry about it. I just think when they put their 70% saved on income out there it discourages those who can't do the same. It's very unrealistic.
DeleteI am SO looking forward to retirement, but I guess I should not be wishing my life away, right?
ReplyDeleteGood for you for saving for retirement for so long. It makes it less scary to consider retirement.