My Financial Plan

May 9th, 2006 at 10:29 am

Here is my basic plan...My wife and I both work. we live on 60% of my income alone.

Here is what I do each month in order:

1. Contribute to 401K ($15000/yr each)
2. Pay all bills (approx. $2500/mo)
3. Invest in Ameriprise Mutual Fund Portfolio ($1800/mo)
4. Contribute to emergency cash fund ($1000/mo)
5. Contribute to vehicle replacement fund ($500/mo)
6. Contribute to "fun money" fund ($1400/mo)
7. Invest the rest in riskier investments. ($1300/mo)

Opened investment account 3/31/2006 with $55,000. Made deposit on 5/1 of $1800.

Current value of mutual fund portfolio: $59,400

Income:

Me: $58,200/yr - fulltime job
$35,000/yr - side business

Wife: $90,000/yr

Posted in Uncategorized | 4 Comments »

4 Responses to “My Financial Plan”

Ima Saver Says:
May 9th, 2006 at 12:13 pm

That is great! What do you do with your wife's income? Save it??
markio26 Says:
May 10th, 2006 at 09:05 am

great job.... relax and set everything on autopilot... we all have our ups and downs in financial growing years... i would caution you about the riskier investments though... do you donate to charity and take a deduction? the fun money could be invested for the future retirement too.. i suggest a mad money allowance instead.... and if you don't spend it, then it will accumulate..
thanks for the post.
Champion Cheapskate Says:
May 10th, 2006 at 02:02 pm

Keep following your game plan.

You sound responsible. . . but the "riskier investments" sort of scares me. You'd be surprised at what I have seen "normal" people invest (gamble) in. Hopefully what you chose is regulated. Good luck.
PRICEPLUS Says:
May 18th, 2006 at 12:26 am

You are doing well. Keep up the good work.

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4 Responses to “My Financial Plan”

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