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2019 Financial Goals

December 29th, 2018 at 07:38 pm

Here we go:

This is something I started in 2018 but I'd like to continue doing for at least half of the year (2019):

>>Our primary home mortgage is six months ahead of schedule with our next payment due July 1st. I am trying to get the mortgage payments down to January of 2020. Some of you may ask, why not just put the money in the bank and just keep paying as normal? For me, it's a peace of mind thing and not having to worry about it. On October of 2020 our income will increase once again with my husband taking early social security benefits (if necessary).

>> We would like to not touch our savings even though our income will be significantly less in 2019 on. In fact, I will like to continue saving even if it is small amounts. The goal is to increase not deplete nor touch. As of today, it is a healthy savings/emergency fund.

>> I want to continue funding my ROTH IRA in full in 2019 and subsequent years.

>> Roll my 403B to the ROTH IRA in July.

>> Get rid of the cable bill and we already have a plan in motion.

What are your goals?

8 Responses to “2019 Financial Goals”

  1. Smallsteps Says:

    I make extra payments on my mortgage but it does not advance the payment date.
    I know many say put your money in x y or z if you have a low interest rate but I too just like to know it will be paid off sooner.
    The way I look at it is that the money in interest I save is guaranteed while the current roller coater on investments may not equal my small mortgage interest.

  2. creditcardfree Says:

    Yes, how does that work to be that far ahead? Does it lower the interest you have paid? Great goals!

  3. NJDebbie Says:

    It does not change any of the loan terms; I'm just ahead in my monthly payments.

  4. Kym Parker Says:

    I don't like to call them resolutions. I prefer to think of them as goals. And they are pretty much the same as last year.

    - - Save MORE (I was okay in 2018 but could have been better.)

    - - Spend LESS (I am a spender by nature) A spending ban on WANTS is in effect for 2019

    - - Go to gym 2-3x a week (epic fail in 2018) With a job that now accounts for a longer overall day, something had to give. Frown

    - - Eat better (I had my ups and downs with this one)

    - - Lose 20 pounds (that did NOT happen)

    - - Less time online. (that did NOT happen)

    - - Read at least 60 books (that DID happen, but I had challenged myself to read 100 books and I came up 15 books short.)

    - - Declutter, declutter, declutter (that is an ongoing process)

  5. rob62521 Says:

    Yay on the extra loan payments. That has to be a feeling of security knowing you are ahead.

    If you haven't checked into the process of rolling your 403b into an IRA, you might want to check out the specifics. In order for me to do that, I had to get paperwork from my district stating I had retired and would not be putting any more money in the 403b and had to have them fill out a document. It meant quite a few trips to get stuff signed and faxed in.

  6. Jenn Says:

    My financial goals for 2019 are mostly hum-drum because they are 'continue to' things: max HSA, max Roth, fund 529s and 401k... One stretch goal is to stay on course to pay off the mortgage early. I made a progressive payment schedule that may force me to get creative.

    I have some specific quality time goals for each kid. And a health goal to adopt a permanent lifestyle improvement each month. I'm really excited about that one. I started last year to make one change at a time and find that it works for me. I now drink organic coffee, no longer drink soft drinks, use Pyrex storage containers instead of plastic, drink filtered water, and eat at least 6 servings of fruits/veggies each day. If I'd tried to do that all at once, I would have been overwhelmed and failed.

    Happy new year!

  7. creditcardfree Says:

    @Jenn, I wish you would blog! You always have such wonderful comments. I love how you have approached your goals. I have found this to be helpful as well, focusing on one change at a time. How do you filter your water?

  8. Jenn Says:

    Thanks, CCF!! I might start blogging one of these days. I just stay so busy that I worry about allocating the time.

    We bought a Berkey water filter. It's pricey upfront, but the main filter lasts for 10 years between changes with normal use. I did opt for the additional filter for arsenic and fluoride and that one only lasts a year or two. It's an optional addition. The Berkey is a countertop model so it can be portable.

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