2009 Financial Goals
1) Save 15% of gross income for retirement.We max out our Roths at $5000 each, in addition to 4% to my husbands TSP.
2) Save $2000 x 2 for college
We send in $166 for each daughter monthly.
3) Pay down HEL loan by $7000. Beginning balance $13,999.
This will require an average of $533/mo in extra principal payments. Regular payments are $118.01. Total per month $651.
4) Take a vacation with cash, location and amount to be determined.
Approximately $1500-$2000. May used tax refund towards this goal.
Note: We have made a revision to get the HEL loan done this year. We have stopped the monthly college contributions for the time being. We will attempt to save the $4K for them later in the year.