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Author: flipstress One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5068  
Subject: I'm Saving for Food Date: 3/18/2004 3:42 AM
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I've posted before that I'm following dory36's approach of splitting FIRE funds needed into three pots:
- Pot 1: fixed requirements
- Pot 2: funds for what SS/pension will eventually fund
- Pot 3: play money
(See his post on this: http://boards.fool.com/Message.asp?mid=13891450)

I've recently decided to contribute the max to my 457 plan at work and this will make up my Pot 1. At $500 contribution per paycheck, it will be tight, but I repeat to myself that "It's for FOOD!" Until the end of 2005, it'll be for food.

What I did is to put into a spreadsheet: the savings for each pot that I plan to make until my FIRE target date and the value of money that I've got to date in each pot. Each pot has assigned expenses that it needs to cover, and I'll measure my progress against those expenses.

I do this to motivate myself, to make more concrete what I'm saving for.

flipstress
who loves 'em pots
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