Contributions were up a bit – mine was at 8%, with a 4% match, and Dad’s was a lot of money (~$2500). I was planning on increasing my contribution in July/August, but my new company doesn’t have a 401(k) much less a match, so no more 401(k) contribution for me. Our new health insurance (through Dad) allows for an HSA – except that this year, we already have an FSA, so we can’t participate in an HSA. We’ll be taking advantage of that next year, but not this year :(.
We increased our tax payments since I have no options for reducing my income (which is technically higher now). We’re likely to get a lot back next April. Any extra is going to the e-fund at the moment. I’d rather have a positive surprise than a negative surprise come tax time though.
Supposedly, there will be a 401(k) option at my new company before the end of the year (no word on match) – if there is, I’ll max out as much as I can, but I’m not sure I’ll be at that company towards the end of the year. I’m not sure that I’ll be able to continue “contributing” as much as I have been, but I hope I can keep contributing the same amount ($580/mth at a minimum) to my taxable account. If I can contribute to the 401(k) before the end of the year, I’ll contribute 100% of salary towards the end of the year, and take from the taxable account for living expenses.
Investment gains have been nice this month – almost 7k increase. It’s almost scary that we can “make” 7k in one month – that’s more than we need to live, but I’m not sure I’d take that as “OK to retire” since it’s still pretty close to what we need, and not really consistent month to month.
So far, for 2014, we’ve contributed $16,502.10 (41.26% of the new goal of 40k), and we’ve gained $14,673.47 in investment gains (72.42% of our planned total).
Nice guys! That is awesome!!!
I’m just hoping we can keep up the contributions – we’re now paying $500/mth for health insurance through Dad’s company, and there’s no way we’ll make the deductible before the end of the year, so we’re on the hook for up to $6500 in health care costs between now and the end of the year – our FSA has $400 left in it – rethinking our savings goals to include a “deductible” savings account.
When do you plan on retiring? I am not sure I caught that in the post. (At what age I mean?)
I read your About page and like you already. You’re in the same position as me it seems. I too, am a working freelancing mother of a newborn and although I don’t share the same love of travel for work (I see it as commuting), I do enjoy traveling for leisure. 🙂
Can’t wait to read more.
If we continue on our current plan, I’ll be 45-46 when we are able to retire. Plans are a bit in flux however as I just “lost” my job and I’m looking at other opportunities, including those in other parts of the country.
Got it. I’m in a pickle myself. Can’t take anything but local projects with a newborn… Gave up a contract for $250K (posted about it on the blog).