Here's my situation.AssetsHome. Paid off. Value $140,000401K $55,000 I contribute 10% and get matched 3%Car Paid off, but it is 10 years old and becoming unreliableStocks I own two. KAR and ALE. Both have done OK in price, but they are dividend producersE-fund Underfunded. I am working thisTotal Value a hair over $205,000I own everything I have outright. Paying off the house had been my focus for the last three years. I am now done with that, but am quite cash poor. 2006 planMy biggest goal this year is to get more cash and get into stocks through index fundsI plan to break my paycheck up like this:E-Fund 13%New Car fund 8.3%Vacation fund 8.3%Gifts 5%Index fund 20%Personal fund (Includes food)20%Wife 23%Misc(Insurance, appliances, etc) 2.5%I have chosen to go with a Vanguard Index as my first investment. One drawback to this is that if your account is under $10K with them, they charge a maintenace fee each quarter. With my plan, I will be over that in one year. DW is getting a larger portion, we owe some money to her family, so I want to pay them back. Later in the year, I should have that finished and can redo my percentages. I also am expecting a pay raise in March. I am not sure where that money will go. DW has a job and saves about 20% of her money too. I'm trying to get her to ratchet that up. Living overseas, I don't pay income taxes, so, the 401K contributions and IRA contributions aren't as tax beneficial to me. That is why I don't have an IRA and why I am not maxing the 401K to the federal limit. 10%, combined with the 20% for the Index fund seems to be enough investing/savings. If I include the efund money, I will be saving over 40% of my income. My real goal this year is to build cash and fund ownership. Suggestions? Improvements? fredinseoul
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by