So, I thought I would do an audit of what I have automatically deducted from my checking account each month to help me save.
401(k) through my employer: $290 never see this 6% of my monthly take-home pay.
Roth IRA: $250
Term-Life Insurance (using as a midterm investment that I could cash into around the time I have kids/am settled somewhere) : $100
ING Deduct for B-School Savings: $100
Total: $740
I feel pretty good about the level of retirement savings, especially given how the markets are performing. But I think I could still stand to increase the monthly savings deductions for business school. I just did the math, and if I stay at my current deposit level and do nothing else, I will only be at 7% of my goal by the time I get there. To actually reach my goal of $50,000 by the time I reach business school, I would have to be putting in more like $3,000 a month. Which is more than I make a month. Fabulous. I probably should have done the math better before I set up that goal. But I should at least be trying to increase that incrementally each month. So this month we'll try to ramp it up to $150.
Thursday, March 13, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment