Here is my basic updated plan...My wife and I both work. We still 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. $2900/mo)
3. Invest in Ameriprise Mutual Fund Portfolio ($1000/mo)
4. Contribute to cash fund ($3500/mo) until cash balance hits $50K then re-allocate more to stock market.
Income:
Me: $58,200/yr - fulltime job
$35,000/yr - side business
Wife: $104,000/yr
Financial Plan Updated
December 26th, 2006 at 09:39 am
December 26th, 2006 at 10:20 am
December 26th, 2006 at 12:34 pm
When I read your financial plan I was pleased for you. But I felt that old familiar sting of being a widow on social security and living on $20,000. Makes me feel as though we are on different planets and turns my eyes from blue to green. My 28,000 of medical debt is a depressing reminder of the the differences among us. I am pleased for you though and am sure you are pleased with your life.