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Savings for the year

April 14th, 2021 at 05:30 pm

I was saving money to invest in our Roth IRA next January but decided I might as well dump it into our taxable account now.

So far this year we've saved $23k of DH's bonus in feb.  We just didn't sell the stock we got.  Technically it was $34k of gross but $23k after taxes.  Now I moved $10k into our taxable account.  Assumign we make around $240k and need to save 20% we need to save $48k.  That puts us I guess at $33k unless you count the Roth and ESA contributions of $16k I did in January. 

Either way I'm just going to keep on saving and figure it out along the way.  This budgeting is a lot hard than it looks.  I'm still thinking I need to save at least $16k by january because I prefer to do a lump sum investing.  Maybe save $16k and call it savings from this year?

Posted in Savings | 6 Comments »

6 Responses to “Savings for the year”

  1. terri77 Says:
    April 15th, 2021 at 02:01 pm 1618495275
    1618495275

    It sure would feel good to have the savings done early in the year!

  2. Carol Says:
    April 15th, 2021 at 05:07 pm 1618506436
    1618506436

    I think I would just have an automatic amount sent each month to the taxable brokerage, money market or whatever. Then if you want to invest in lump sum do it when you like. As far as the stock goes, pay attention to the timing and We'll it when it seems appropriate.

  3. Carol Says:
    April 15th, 2021 at 05:09 pm 1618506584
    1618506584

    I think I would just have an automatic amount sent each month to the taxable brokerage, money market or whatever. Then if you want to invest in lump sum do it when you like. As far as the stock goes, pay attention to the timing and sell it when it seems appropriate.( Edit )

  4. Moshour Rahaman Says:
    April 15th, 2021 at 05:56 pm 1618509415
    1618509415

    I think you should go for it. Today I do an investment in a company called DSG Global . you can fry them. By the way, I also prefer to do lump sum investing.

  5. LivingAlmostLarge Says:
    April 16th, 2021 at 12:47 am 1618534072
    1618534072

    I'd like to have savings done too earlier in the year.

  6. rob62521 Says:
    April 18th, 2021 at 06:15 pm 1618769751
    1618769751

    It is always nice to have the savings done for the year, but I think it is whatever works for the individual.

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