This month was a little bit of a craphat in the savings world. The post Brexit bump led to a pretty flat month in August. I’m not going to go into a schpeal about savings, but if you haven’t read the July 2016 Report, read it now!
Something to note: July had 3 paychecks and August only had 2 (I am paid every 2 weeks). Now, onto August 2016!
RETIREMENT (EMPLOYER MATCHED 401K)
My portfolio has stayed the same:
- Mainstay Large Cap Growth Fund (MLAIX) @ 30%
- Principal Mid Cap Fund (PCBIX) @ 25%
- T Rowe Price 2040 Retirement (PARDX) @ 25%
- T Rowe Price 2050 Retirement (PARFX) @ 20%
This less than stellar month, I deposited $476.92 with an employer match of $190.76 and a gain of $14.83. That brings my total at the end of August to $10,808.47.
Despite many, many, many reservations, I kept my Acorns portfolio the exact same this month:
- Real Estate (VNQ) @ 30%
- Small Cap (VB) @ 25%
- Emerging Markets (VWO) @ 20%
- Large Cap (VOO) @ 15%
- Government Bonds (SHY) @ 5%
- Corporate Bonds (LQD) @ 5%
I decided to up my Acorns account, and pulled $500 out of the checking account and deposited right on top of the rest of my acorns, bringing my deposit this month to $635.31. I also upped my monthly $25 to a weekly $25. The account floundered a little bit this month, one day I was up $15, the next down $10, so I LOST $17.08, bringing my August 31st account balance to $1,163.25.
Another month without savings. My wife’s school bill came in and we had to drop $980 after the student loan maxed out.
PROGRESS ON GOALS
Retirement – My 401k increase should take effect during September, so with that, we are still on goal.
Down Payment/Rainy Day – We currently have $8,000 put away between savings and Acorns. I am hoping to have a rainy day fund of $10,000 (just under 3 months of rent and bills), and a down payment of $35,000 for when we move to Colorado in 3-5 years.
Without putting anything away in August, we are a bit behind our goal for the 3 month cushion by December and the down payment money JUST in time for when we leave here if we keep putting $1000/mo away. Hopefully next month we wont be surprised with $1000 in school fees!
Saving is STILL difficult! That is why it is a good reason to start early. Now that I am nearly 30 and sitting on absolutely nothing, I realize that I need to turn this around. I hope to be retired or retiring before 60, and there is a long time between 60 and 72.5 when your full social security retirement benefits kick in.