I sent the last payment to our Roth for 2010. We started contributing around October so we finished it in only 3 months. Pretty good! I set the account up to make consistent withdrawals for the next who knows how many years. It will withdraw $417 for the first 2 months of the quarter and $416 on the final month. It's a bit annoying that they didn't choose a number divisible by 12.
So now we are back to focusing all our extra money on the car fund. We are 33% done with the fund so we still have a ways to go. Still we are on track to have the money by the time my lease ends.
More worrying is our lack of progress on the Baby Fund. We are trying to add $10,000 to our EF to account for additional baby expenses. We need to be putting $377 away every month to make our goal of April 2011. Right now we are pulling $200 from our Wants budget to contribute (I figure having a baby is a luxury). At this rate the fund won't be finished until June 2013. I'm hoping that by putting extra money into the Car Fund we can lower our monthly allocations there and raise our monthly allocation to the Baby Fund.
If all else fails, I'll move back our start trying date in 3 month intervals (I buy a 90-day supply of BC) and start trying when we have the money.
Woohoo Roth Finished
December 15th, 2010 at 01:05 am
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December 15th, 2010 at 08:53 pm 1292446404
I used to deposit monthly into my Roth. Last year I started to deposit the full amount in January. It really gives me a great feeling to start the new year off with accomplishing that. I can't wait to do that again next month.