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Riff Notices!

March 13th, 2010 at 08:07 pm

So yesterday FedEx came buy with the certified letter. H has been riffed again. He says I shouldn't worry as this year he is going to attend more job fairs and they are laying off less people. I hate Union negotiations because every year they cause this stress to our family. I really can't wait until he has enough seniority to be past this point.

On that note, I reassessed our savings goals. I often use the calculators at CalcXML (http://www.calcxml.com/english.htm) and they have a handy one for saving goals where you can increase your contributions every year and calculate your yearly contributions to meet a goal. I did this for all of our ridiculous numbers of goals. I assumed a conservative 2% growth in our income.

With this estimation, right now our extra income will only go toward the Downpayment and the Barebones Retirement goals. Barebones Retirement is for age 75-100 whereas my Goal Retirement is age 65-100.

Does anyone know of a good way to calculate our "snowball" savings using an increasing amount of yearly contribution?

Posted in Budgeting, Saving Money | 4 Comments »

4 Responses to “Riff Notices!”

  1. Joan.of.the.Arch Says:
    March 13th, 2010 at 09:46 pm 1268516768
    1268516768

    Pardon my ignorance, but what does riff mean?

  2. Joan.of.the.Arch Says:
    March 13th, 2010 at 09:48 pm 1268516915
    1268516915

    Mmm, found it: RIF, reduction in forces.

  3. snshijuptr Says:
    March 13th, 2010 at 10:31 pm 1268519479
    1268519479

    Due to Union contracts, it's difficult to fire teachers, so every year the district sends out riffs to most of the temporary teachers (first and second year teachers). They end up rescinding a bunch of them, but it doesn't stop a lot of families from going into a small panic. This is why my first money act was to create a 6 month emergency fund based on our current monthly expenses. Stupid district-union dealings just jerks us around.

  4. deedee421 Says:
    March 14th, 2010 at 10:12 pm 1268604732
    1268604732

    Someone on the forums posted about this site: http://www.helpmefinancial.com/saving-calculators.

    I think the link for the calculator "What will my current savings grow to?" may be what you are looking for, but there are lots of different calculators to choose from.

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