August 2008 Yearly Goal Update

by Kevin on August 1, 2008

Back in January I wrote a post about our 2008 financial goals. It’s been more than six months, so let’s do a little bit of a review.

A simple recap: we wanted to fund a trip to New York City, consistently save for my MBA program tuition, build up our emergency fund to three months, put as much money as possible toward our 2007 Roth IRA, pay extra on our 2nd mortgage, and max out our Roth IRAs for 2008.

So where do we stand?

  • We funded our trip to NYC a long time ago
  • We funded our expected portion for my MBA tuition (my employer is paying for about two-thirds of it)
  • As of today, we’ve fully funded our emergency fund with three months work of expenses — a huge accomplishment for us!
  • We put a decent amount of money toward a Roth IRA for 2007, and we’re on track to max two Roth’s out for 2008 (one for each of us).
  • We stopped paying off the 2nd mortgage early to accomplish some of these other goals.

If you ask me, we’re absolutely knocking our goals out of the park. We are working on coming up with some additional goals to finish off the year. Needless to say, I’m thrilled with our progress.

Where do you stand on your goals? Have you taken a look around recently to assess the situation?

Comments on this entry are closed.