We contributed $3,806.57 this month to our retirement accounts We gained $10,857.66 in interest this month. That’s almost as good as we did in February when we gained just over $14,000. The markets were nice to us this month, and hopefully they continue.
At this moment, I’m more concerned about mortgage interest rates remaining relatively low. We wouldn’t borrow the money for our new house until February at the earliest, March as likeliest, and April as a late option. Interest rates do more for our monthly payment than our option choices. We’re looking at about 1900-$2100/month depending on exact rates for the new construction – but that wouldn’t start until March probably (maybe as late as April). We’re hoping that our house in VA sells before the end of the year – preferably in the next few months, so we can save that payment until we move in.
I’ve maxed out my 403(b) contribution percentage which will start coming out in my September paycheck – 20% of my salary (~$2100/mth with “match”). That will increase our monthly contribution for the rest of the year, pushing us just over $45k in contributions for the year. We’re just going to learn to live on a lower take home pay. (I’ve also figured out that we’ll end up paying more PA taxes at 4.07% of gross than VA’s 6% of Federal AGI 🙁 ) I have to wait until my September paycheck to figure out our new monthly net amount.
So far, for 2014, we’ve contributed $26,905.35 (67.26% of the new goal of 40k), and we’ve gained $26,041.09 in investment gains (128.53% of our planned total).
Nice progress! Hopefully the lower COL in Pittsburgh will make it easy enough to live on lower take-home due to taxes and changing your retirement withholding.
Hopefully, we’re looking at about 1800-2100 in our new mortgage depending on exact rates and how many points we can pay to reduce those when the new place is built. That’s compared to $2700 now, so $600-$900 less in mortgage, and about $300-400 less in daycare, and it shouldn’t matter so much…