Post by hbomdiggity on Dec 20, 2016 17:21:06 GMT -5
Big changes. We ended right side up financially, but hoping for a calmer 2017.
+ DH found a job. excellent relocation package. - While I was able to arrange a remote employee agreement, I reduced my hours (and salary) by 30% + sold house for nice profit. relocation covered realtor fees. +/- purchased new house 3x size. same mortgage (P&I) payment, but taxes are much (4x) higher + DH ESOP plan, but its reducing monthly income
we used part of the house sale proceeds to pay down my student loans (responsible). We also have spent a significant amount on furnishing the new house (not responsible).
Post by wanderlustmom on Dec 20, 2016 21:06:50 GMT -5
Thinking of everyone going through some tough times.
We are at a wash for 2017.
Good news--at 42 and 43 we are in whisper distance of a million dollar net worth. For two modest incomes, this shocks me. It's all about the compounding interest (DH started an IRA in undergrad and maxed his retirement since he was 22). It's also because we have a small mortgage. My private practice also did well. I make more than double what I made working full time and it's a half time job. I never thought social work could be lucrative
Medium news--I broke my shoulder which created a lot of medical bills. But it happened at Girl Scout camp so they may cover what our primary insurance does not.
Bad news--DH works in oil and no bonuses this year. Our emergency fund is too small and we spend too much each month
- I got a small bonus (prorated for a partial year at the job) and a small raise - DH got a pretty big raise thanks to the OT law - Added a lot to savings with the intention of buying a new (to us) house next year - Maxed out my 401(k) and both of our HSAs - No big expenses that we could not cash flow - Traveled relatively inexpensively between using miles, staying with friends, and my tagging along on DH's work trip to Paris
Feels good after DH having been unemployed for almost two years recently
I am more of a long-time lurker, but like to play! Not too bad this year.
Finished our kitchen renovation on budget (through a HELOC, but no extra spending). Used H's annual bonus to pay off alittle more than planned.
Increased my 401(k) to now be at max. H continues to max his 401(k).
Fully funded our Roth IRA's for 2015 (in April 2016).
Bought airline tickets for family trip in summer 2017 using airline miles.
With the increase of my 401(k) and putting a chunk each month toward the HELOC for the kitchen, we are still contributing a decent amount to savings each month - even though financial planner told us to hold us putting into savings until we increase monthly HELOC and retirement contributions.
However:
WAY overspent on Christmas presents.
have a 0% interest credit card that needs to be paid off in February - I had planned on paying over the entire year so that it will all be paid in February. However, didn't quite do that and now have to take some out of savings to get it paid off (only 2k)
I'm much more of a lurker too, but wanted to share since I enjoy reading everything here.
Overall, we had a good, if boring, year. We: - Increased our retirement accounts by about 40%, and at 26/27 are almost at $100k. Based on my current projections, we should hit 1x our salaries in the next two years. - We both got raises and I'll be getting another raise come January. My manager is also really happy with me and so far seems dedicated to making sure I'm happy in my current role. - We almost bought a house. It didn't work out, which was for the better because... - My company did lay offs over the summer and then was sold in November to a much, much larger firm. Still waiting to see how that plays out over the next few months. They're changing (cutting) out bonus structure, so I doubt a lot of the senior folks will stay around.
Sorry to everyone who has had a rough year! Fingers crossed for a better 2017 for everyone.