2022 goals

[chpmnk1015]

So how is everyone's 2022 goals winding down? I can't figure out how to link the original goal post...

[chpmnk1015]

I'll start..
Hit all the goals we had

Did both Roths early in year, saved the amount for kids we wanted, added some more to my td ameritrade account and a new account we started, paid a little extra on mortgage to get to a dollar number, hit vacation saving we wanted.

Just finished our 2023 goals

[egeiger]

pandce.proboards.com/thread/630613/2022-mm-goals-intentions

[midwestmama]

Here were mine, commentary on status in bold:

1. Make a principal-only lump sum payment of $5,000 on our mortgage after DH and I get our bonuses. Continue to pay extra on the principal monthly.  Done.  We will end the year with the mortgage balance $1,000 below our goal for 2022.  

2. Use some bonus money toward home improvements - a few small ones inside like new countertops and sinks for our master bath and 1/2 bath and possibly some landscaping.  Used bonus money for home improvement, but not what I had in the plan.  We ended up with new garage doors (due to ours breaking) and that was all.

3. Travel - we have enjoyed taking a trip somewhere warm right before Christmas the past two years, so I think we're going to make it an annual trip from now on.  We booked a Christmas trip back in April, and leave for it next week!  With credit card cash back saved up and money from a spot bonus I just got from work, we should cover all expenses we haven't already paid.  (Flights and resort have been paid.)

4. I'd like to possibly review our will and trust, specifically as it relates to changing the executor (currently BIL), but DH and I haven't decided on who else we could pick to be executor.  Not done yet, DH and I are stuck on who to choose.

[trissie18]

1. Pay off all debt except mortgage and auto loans. This should be easily accomplished by fall and includes mainly 0% stuff that I just want gone to free up some monthly cash. This turned out not to be "easily accomplished" but depending on my bonus that will be announced this week we will be able to either pay it all off or all but one 0% that has another 24 months left and will knock it out by mid-2023.

ETA - well my bonus fell short of my expectations so while we will make a big dent in the debt, some 0% will roll into 2023.

2. Contribute to non-retirement investments and 529's. We are on track to start allocating $1k/month in July towards these items. We started on the non-retirement investments. 529s will start in January and we will increase our other allocations.


3. Build our two front porches that we put off from 2021 and slowly start finishing our mudroom now that we pretty much know what we want to do. Will pay cash for these. The porch supplies are bought and paid for but my brother wasn't able to make it out to build them before the snow fell so we are first on his list in the spring. We will start working on the mudroom after the new year.


4. Get our efund and our vacation fund to $X each. We add some to these accounts but not nearly what we had hoped. This will remain a 2023 goal.


5. Hopefully close out DH's worker's comp case from 2020 and use the lump sum to purchase a whole house generator and help with the above goals. The case was closed but we ended up not receiving any additional funds so the generator is still on the list to purchase.

[aspentosh]

1. Continue maxing 401k for H and Roth IRA for me DONE
2. Continue saving for H to buy an electric truck and decide if we'll sell my car and continue being a one car household (so far so good) We have about 60% of the purchase price saved and his estimated delivery date is first quarter of 2023. I'm not sure if we'll sell my car immediately because we drive long distances enough that I am worried about the charging times... but it's still on the table in the future.
3. Continue paying an extra 25% to our mortgage each month DONE
4. Increase charitable contributions even more, especially to minority and women owned businesses Did this, but not as much as I would have liked. Going to look into an end of year push on some contributions in my area.
5. Be mindful of my purchases and don't just buy because it's on sale or looks cool Overall did pretty well with this I think. Using unroll.me really helps hide the sales where I might mindlessly scroll. 
5b. Purge purge purge things that don't need to stay in our house Doing well with this and continuing through the end of the year. Helps that we redid our garage and had to pull every.single.thing out and we were ruthless about what to keep or donate. 
6. Go on a kick ass 15 year anniversary trip (currently have a place at Fiji booked but I'm not convinced things will be improved w/r/t COVID so may reassess) Did Maine for a week and it was lovely. Not Fiji, but truly memorable for sure.

[krystee]

Mine were:

1. Save at least $5K more in our emergency fund.
2. Increase 401k by 1%.
3. Invest at least $300/month in non retirement investments.
4. Save for bathroom remodel.
5. Save for 40th birthday trip with my mom and a family trip.
6. Take care of updating our estate plans, which were last touched before we had kids.

1. This WAS done, but then we used those funds to cover some of the overage of our disastrously over budget bathroom model.
2. Done
3. Same as 1; started doing it, then temporarily stopped
4. Done (saved budget plus 20%. Still not enough.)
5. Done (my mom and I had a fantastic time in Cape Cod and Boston, and we saved in full for a Disney Cruise leaving in February)
6. Not done….again. Sigh.

[Roc A Bee]

I didn’t participate in the first thread but I’m ending the year with more credit card debt. But we threw a great party where we announced our wedding, and had a great family trip to Mexico. So YOLO and I’ll save more in 2023!

[chpmnk1015]

Dec 5, 2022 17:19:26 GMT -5 Roc A Bee said:

I didn’t participate in the first thread but I’m ending the year with more credit card debt. But we threw a great party where we announced our wedding, and had a great family trip to Mexico. So YOLO and I’ll save more in 2023!

So true... all about balance..we did a big family trip to Mexico this year and just booked Hawaii for spring...

[wildrice]

Mine were:

1. Start paying off H's student loans aggressively. I am budgeting 1k a month but I would love it if we could actually do a bit more. This will be met once I make the December payment. I think we're down 13k for the year.


2. Ensure my PSLF goes through. I am hoping I'll get a bit of a refund and can actually put it straight into H's loans. No refund, but I did get forgiven in January so my loans are gone!


3. Sell our 2nd car - this one will hopefully be within the next few weeks so barely even counts. This was also done in January


4. I think the two big house projects are going to be refinishing or replacing our living room floors and doing something to make our backyard more usable, so saving up enough money to pay cash for those. We did this as well, though the backyard cost was minimal since I did it myself (mostly just mulching and some basic planting). We put the flooring on a 0% credit card so one goal of 2023 will be to finish paying that off. 


5. I've continued dragging my feet on making a will or doing anything related to estate planning, so I should probably focus on that this year.


I don't know what my deal is with this one, denial I guess, but I still haven't done a thing for this.

[chpmnk1015]

Dec 5, 2022 18:40:29 GMT -5 wildrice said:

Mine were:

1. Start paying off H's student loans aggressively. I am budgeting 1k a month but I would love it if we could actually do a bit more. This will be met once I make the December payment. I think we're down 13k for the year.


2. Ensure my PSLF goes through. I am hoping I'll get a bit of a refund and can actually put it straight into H's loans. No refund, but I did get forgiven in January so my loans are gone!


3. Sell our 2nd car - this one will hopefully be within the next few weeks so barely even counts. This was also done in January


4. I think the two big house projects are going to be refinishing or replacing our living room floors and doing something to make our backyard more usable, so saving up enough money to pay cash for those. We did this as well, though the backyard cost was minimal since I did it myself (mostly just mulching and some basic planting). We put the flooring on a 0% credit card so one goal of 2023 will be to finish paying that off. 


5. I've continued dragging my feet on making a will or doing anything related to estate planning, so I should probably focus on that this year.


I don't know what my deal is with this one, denial I guess, but I still haven't done a thing for this.

It's such a peace knowing you got the will and stuff done once you do it... we were talking that we will probably have to update ours in a couple years again...

[wildrice]

Dec 5, 2022 19:15:26 GMT -5 chpmnk1015 said:

Dec 5, 2022 18:40:29 GMT -5 wildrice said:

Mine were:

1. Start paying off H's student loans aggressively. I am budgeting 1k a month but I would love it if we could actually do a bit more. This will be met once I make the December payment. I think we're down 13k for the year.


2. Ensure my PSLF goes through. I am hoping I'll get a bit of a refund and can actually put it straight into H's loans. No refund, but I did get forgiven in January so my loans are gone!


3. Sell our 2nd car - this one will hopefully be within the next few weeks so barely even counts. This was also done in January


4. I think the two big house projects are going to be refinishing or replacing our living room floors and doing something to make our backyard more usable, so saving up enough money to pay cash for those. We did this as well, though the backyard cost was minimal since I did it myself (mostly just mulching and some basic planting). We put the flooring on a 0% credit card so one goal of 2023 will be to finish paying that off. 


5. I've continued dragging my feet on making a will or doing anything related to estate planning, so I should probably focus on that this year.


I don't know what my deal is with this one, denial I guess, but I still haven't done a thing for this.

It's such a peace knowing you got the will and stuff done once you do it... we were talking that we will probably have to update ours in a couple years again...

Ugh, don't tell me I'm going to have to do it again - lol

I think the problem for me/us is that neither of us have very strong feelings about what should happen after our deaths, so making a will is more to make it easier for surviving loved ones than to ensure any particular thing happens. So it's not very inspiring! I know it's totally necessary though.

[chpmnk1015]

Dec 5, 2022 18:40:29 GMT -5 wildrice said:

Mine were:

1. Start paying off H's student loans aggressively. I am budgeting 1k a month but I would love it if we could actually do a bit more. This will be met once I make the December payment. I think we're down 13k for the year.


2. Ensure my PSLF goes through. I am hoping I'll get a bit of a refund and can actually put it straight into H's loans. No refund, but I did get forgiven in January so my loans are gone!


3. Sell our 2nd car - this one will hopefully be within the next few weeks so barely even counts. This was also done in January


4. I think the two big house projects are going to be refinishing or replacing our living room floors and doing something to make our backyard more usable, so saving up enough money to pay cash for those. We did this as well, though the backyard cost was minimal since I did it myself (mostly just mulching and some basic planting). We put the flooring on a 0% credit card so one goal of 2023 will be to finish paying that off. 


5. I've continued dragging my feet on making a will or doing anything related to estate planning, so I should probably focus on that this year.


I don't know what my deal is with this one, denial I guess, but I still haven't done a thing for this.

Lol just updating because of kids and ages... otherwise if it wasn't for them I doubt we would have one...

[fryjack2]

I thought I had participated in the original thread, but now I don't see a post. Heres what I can remember from what our financial goals were:

1) Open and fund a DAF. Did this and have been have it set to auto deduct from our checking account monthly.  Have donated 5 figures to charities this year through it.  Hope to increase that by 25% for next year. 

2) Pay for backyard reno in cash. Did this but went over budget by 50% putting it at a 6 figure project. It looks great, but spent way more than intended. 

3) Put X in house project/vacation/second home account. We did this but not in the way I had planned.  We just kind of dumped money in randomly. 

4) Invest outside of retirement accounts. Did not manage to do this. Its on the list every dang year.  I don't know why we can't manage to figure out how to do this. 

5) Pay taxes quarterly so we aren't hit with such a big bill at tax time. H was supposed to set this up and didn't 

6) Save my income each month and live off H's.  Did well doing that some months but not others. 

Those are the ones I remember. 

[quesyrah]

My goal was to replace my
Minivan.

We did replace my minivan and were fortunate enough to pay cash for it. It’s unfortunate that it was due to my parents dying and me receiving an inheritance.

Also thanks to the inheritance we finished off our emergency fund, set aside a nice chunk of money for the kids and also set aside a good chunk for some house projects that really needed to be done.

We are also using some of it for a vacation.

[chpmnk1015]

Dec 6, 2022 12:15:36 GMT -5 quesyrah said:

My goal was to replace my
Minivan.

We did replace my minivan and were fortunate enough to pay cash for it. It’s unfortunate that it was due to my parents dying and me receiving an inheritance.

Also thanks to the inheritance we finished off our emergency fund, set aside a nice chunk of money for the kids and also set aside a good chunk for some house projects that really needed to be done.

We are also using some of it for a vacation.

Sorry for your loss

[brooke77]

Here are my goals and updates:


-Max 401K — Yes
-Save for down payment on house (and hopefully purchase new house in Spring/Summer) —- Sort of yes. We are building a home, which should be finished by late summer/early fall. We have been aggressively saving to add to the down payment because we went quite a bit above our original budget.
-Contribute to 529 —- Yes
-Get estate plan in order —- Sort of yes. We met with an attorney and did all the initial work, but didn’t finalize anything. We moved states and will need to do our estate plan here once we close on our new home.
-Make separate savings account for 40th birthday trip to Maldives or Bali (and hopefully actually take this trip in the fall of 2022) —- No. All extra savings is going to our home. I also lost my mom this year and didn’t want to celebrate my birthday. Maybe next year.

[simpsongal]

Looking back at my mid-year check in b/c I think I revised a few things: pandce.proboards.com/thread/633239/2022-goals-mid-year-check.

1. Pay down heloc from bathroom Reno. Not sure how much but it’s like $65k, so half would be awesome.
Well it creeped up a bit more ($67K+?) for the office cabinets and something else, but we're finally paying it down. It's at $59K and the interest rate hike is lighting a fire under us to pay it off quickly (variable rate loan).

It'll be under $40K, we had hoped it would be lower but we prioritized car savings.
2. Fund kids’ 529s $4k each.
DONE

3. Estate plan - make will or trust
nope....this might be a next year project

4. Set up advanced directives for mom. Figure out her estate and finances
nope....next year. 

5. Rebuild savings
Somewhat, DH is sitting on a mound of cash but we haven't been able to find a car to buy.

6. Look into extending term of our life insurance
DONE for DH - with a better rate too. I got rejected for stupid reasons. I could try again, maybe next year.

7. Invest some money in landscaping now that the cicadas are gone. (trees that need time to grow).
DONE - did some big fall planting projects. 

I have some diy projects in mind for next year too. Hoping I can keep costs low to focus on debt repayment. Dd finishes preschool in the spring too - my last baby in daycare ($$$$).
I've been knocking out my project punchlist to tide me over while we wait on the next/final big reno.

New goals added
8. Big surprise birthday bash for DH - DONE! ($2700)
9. Big family vacation w/nice rental home, flights, etc. ($6K) (August, mostly paid for) DONE
10. Trip to NYC after Christmas - paid for ;o)

[heygrey]

1) Find a second income stream - No. Didn't even really try. I set that goal under ideal conditions and life has been more chaotic this year than I excepted. It's still on my long term goals so maybe this next year. 

2) Pay off my student loans. - Started at ~$17,000. $6,800 is sitting in payment pause waiting to see if the SC upholds the loan forgiveness. Both of my mom's parents died this summer and my parents gave me $5,000 towards my loans from their first disbursement from the estate. So I'm down to $4,681. Feeling good about this. 

3) Finish updating our will. - Didn't do it. Feeling very negligent. Will be first on the list again in January. 

[sadlebred]

1. Be in a better financial position. This will mostly come from trying to quit bleeding money every month and increasing savings. Also quit discresionary spending. I've just taken steps to automate the savings. I will redo my budget in Feb. once my company's HR dept. catches up with the new tax tables.

--Nope. Still the same.

2. Try to have the side gig bring in some additional money. I run a website that is currently undergoing a small refresh by the company I use for web design (Local company owned by a friend that does marketing work, web stuff, etc for companies all around the US. They do great work! They did a major overhaul of the site about 6 years ago; this is to freshen it up). I'm hoping a website refresh will bring in more revenue via direct paid advertising. I also need to identify some new revenue streams for it. I'm open to suggestions if anyone wants to DM me. The website is in the athletic/sports space.

--The refresh didn't do much. People still aren't spending money on advertising unless it's social media. I want to work on this over the winter. Health issues kept me from pursuing this as much as I wanted to. (See #3)

3. Try to get my health stable.

--Nope. I won't go into detail, but after about 9 months of being "stable," it's back to being precarious.

4 Save, save, save! I want to build back up my e-fund to 6 months (this will take me more than 2022, probably 2023 as well). I hope to be 100% debt free by the first of the summer. I had to put a roof on my house unexpectedly a couple of years ago, and this will be paid off! Finally! It's not much at this point, but I hate having it hanging out there.

--Nope, but still have an e-fund. I did manage to put a small amount into iBonds for future savings goals.

5. Contribute more than a token amount to my ROTH. Once I get some savings built back up, I want to start contributing to my ROTH more than the small amount I did this year.

--I did a small amount per paycheck but didn't come close at all to maxing it out. I plan to continue this small amount into 2023 for now.

[quesyrah]

Dec 6, 2022 17:50:21 GMT -5 chpmnk1015 said:

Dec 6, 2022 12:15:36 GMT -5 quesyrah said:

My goal was to replace my
Minivan.

We did replace my minivan and were fortunate enough to pay cash for it. It’s unfortunate that it was due to my parents dying and me receiving an inheritance.

Also thanks to the inheritance we finished off our emergency fund, set aside a nice chunk of money for the kids and also set aside a good chunk for some house projects that really needed to be done.

We are also using some of it for a vacation.

Sorry for your loss

Thank you ☺️

[tcu2003]

Here were mine:

Max 401k accounts for DH and me —- Done

Max backdoor Roth IRAs for DH and me by end of January —- Done

Max mega/post-tax 401k option (or whatever it is called) for DH and me (this is $10k each at our employer) —- Will be done for me by EOY, and DH’s will be about $5k

Fund kids’ 529 accounts to amount we get a state income tax deduction for —- Done

Set up wills/trust —- Not done

Set up a brokerage account for DH and me —- Done. I think I got this set up in late spring or early summer, and have been actively transferring funds to it each month.

Increase our charitable giving (and get the kids more involved in this) —- Mostly a fail. We’ve continued to give, but not sure we increased anything this year, and haven’t involved the kids enough.

[konapoppy]

1. Continue wealth redistribution. did a decent amount of direct giving and moved over a bunch to DAF, but could have done more
2. Buy less “stuff”. I have cut waaaaay back on stuff in the last few years (and a lot of what I declutter is from a decade ago). It would be fun to do a “buy nothing” category, but I’m not sure what it would be. yes! Did well in this area, and have kept up with gifting.
3. MH is reducing his hours, so I hope that reduces the amount of takeout ordered and thus door dash charges. we cut waaaay back, especially after H’s health diagnosis. It had meant I cook a lot more - he didn’t take that on as much. But his work was also weird.
4. Enjoy not spending 100k on home renovations. We will probably refinish the hardwood and we have some stucco to fix. But other than that it should be minimal. we didn’t get around to these. We really have to do the stucco next year

[dr.girlfriend]

Goal: Finish consolidating/simplifying our accounts and start DH's SEP

Progress: We definitely got the SEP started. I think everything else is consolidated, or at least close? I'm trying not to nag DH about it but I think most of them got rolled into one Fidelity account.

Goal: Regularly invest in non-retirement brokerage account

Progress: Nope, all our money is just sitting there in savings. At least some of it is in high-yield savings, and some in I-Bonds, but still have to figure out the non-retirement brokerage stuff.

Goal: Increase all our monthly charity donations significantly starting in January now that we know DH is still making good income freelancing so that's my job for the next two days lol -- why do charities make it SO HARD to adjust your recurring donations?

Progress: Pretty sure I did this but would like to do it again. Maybe add more charities rather than increasing the monthly donations although some charities are definitely working harder than ever (HRC, PP, MSF) ... now that I think of it there's not really many charities we support that *haven't* seen a ramp up in crises this year ... so I will probably up them again.

Goal: Travel although god only knows what's up with that but we have trips booked for February and April and had hoped to travel in June as well

Progress: Can't actually remember where we went in February or April, but we did do a trip to California in June and are on the verge of booking our long-delayed trip to Japan for March of 2023! My son's global entry that we got for this trip back in 2020 just expired. Sigh.

Goal: Ugh I'm turning 50 next year so dealing with increased maxes for retirement although TBH I am not too worried about retirement I think we're in good shape and I want to focus more on enjoying money now.

Progress: Welp, I forgot all about this. TBH I don't think I'm really going to increase retirement much. I feel like every time I turn around there's another example of why you shouldn't procrastinate on spending money on things that make you happy. Lately it's my friend's husband being diagnosed with stage IV colon cancer. They were always great about taking international trips, even with little kids, and they were my inspiration for prioritizing travel. Now I'm 100x glad they got those experiences in case they don't get to have many more.

[nellywilk]

The only thing i want for the next year - to enjoy my motherhood a little more and don't feel myself like a horse, which only runs somewhere all the time. I also want to have more fun, travel more and visit couple of live concerts. Here i checked reviews about goldstart ticket service and will probably order the first one for March next year.