This is overdue review of where our financial goals are as of the end of September, 2022. Three quarters are done and dusted. The main goal was that by the end of the year, we'll have saved after general living expenses, DH's salary, essentially living off just mine. The ability to do this will solidify that he indeed can retire December 31, 2023. Then, we threw in the extra challenge to move the date up four months earlier, to August 31, 2023. Here's where we are for the goals we set back as the year began.
Financial Stability and Progress on Retirement Goals
- Develop and stick to budget to live off just my salary (long term savings such as college and house projects not included)
- Thrift and budget challenges that reduce waste, at least one per month
So how are we doing on those two broad goals? So far, so good for savings. Now granted, DH's commissions, with the down turn of the economy, the inability to get stock in the store, and other challenges have dipped considerably. We won't even raise the 401K retirement accounts in the conversation.
As for money challenges, I've slowed down momentum. Since the computer died, I'm hard pressed to do the MS Rewards from my phone. I've earned a bit of Fetch points. Mostly I'm just trying to not waste money. That's tough some weeks, so I guess that's a challenge.
Overall, I'm satisfied with where we are before the final quarter. The holidays will be a push, but I'm hoping to get creative and make it more heart, less credit card. How are your goals doing for 2022?
I admire your mindfulness with money. I am only do a basic 'buy less' and use what I have. I don't know if this is good enough.
ReplyDeleteI guess that's what we're all doing. I probably obsess a bit too much about it now that DH will retire.
DeleteYou are doing so well with your retirement goals, Sam. I’ve not been doing MS Rewards at this time. It seemed like they made it harder to earn points, I may look into it again though. 😊
ReplyDeleteIt's been a while but I know I have at least $50 in gift cards to use.
DeleteQuiet day here- went to Aldi when they opened at 8:30 and home before 9 AM. They had butterball turkeys for $1.29 a pound which seemed ok to me- butter was $4 so that’s expensive. I only use in baking though. I just spent $46 so didn’t buy much. Your plan sounds good- I keep getting asked when I’m retiring but no plan except no new clients. Nan
ReplyDeleteI'll be starting to pick up things for the holidays too. I'm not hosting Thanksgiving but will bring sides, desserts, and wine.
Delete"Mostly I'm trying not to waste money." I hear you!
ReplyDeleteThat's the goal right? I know I've made dumb money decisions in past.
DeleteOur retirement accounts (savings) took a dismal hit this last month. But we don't use this money to live on so I will ignore it. Yikes.
ReplyDeleteMy financial plan is doing better. Ask me at the end of December!
ReplyDeleteI hear you. I'm just not going to worry too much about the 401k and put faith that things will correct again.
DeleteSince I have gained inches with this swelling, I have had to buy some new clothes and some of those in larger sizes did not fit! I have cut some expenses, so has Tommy. Yet, I manage to save a bit.
ReplyDeleteSaving with a retirement income is good. Congratulations.
DeleteI think you are doing a great job, you are so focussed with your planning, and with sticking to those plans. I am much more hit and miss with budgeting. Megan.
ReplyDeleteMaybe I'm over focused. I do try and live life too, but I do worry about our future. I probably come across more thoughtful in print than my actions show.
DeleteTo be real, mine has been a disaster. My retirement account tanked the month after I retired, I had planned to start part time work in January and I did but the retirement acct just kept tanking. I do have a small pension. I am so glad I made the decision, after taking the months of December off, to continue working part time! Of course, I have put a new roof on the weekend/retirement house, I had planned for that, and purchased a very expensive flight ticket to visit new grandchild over the holidays ( I had NOT planned on how expensive air travel would be, quadrupled), and inflation hit. Still, I had an emergency fund to cover the above, but it is being drained quicker than I calculated. The rate of inflation increased far quicker than I calculated. Houses are quite small and utilities are not much but electricity increased also. Houses are paid for but, taxes have increased, also. I had a plan but it did not work…oops! So, to work I go for the foreseeable future!!!! Lol! Cindy in the South
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