So, how am I doing on my goals?
- Build a "new life" budget. Figure out exactly what we need to make, which areas we can cut, etc. There are some obvious changes (taxes will decrease, childcare will go down, I will get rid of the cleaning lady, etc) to take into account. - Done, although I'm sure tweaks remain.
- Figure out how much it will cost to enroll me, plus the kids on M's insurance plan. I should be able to figure this out quickly, as we work for the same company. - Done.
- Figure out an exit date that allows me to capture a final quarterly stock vest (6/25). Maybe a combination of vacation days & working an extra week after the boys are done with school. - I've mostly landed on a plan, although will be dependent upon a few details as we get closer.
- Build a summer budget & plans to ensure we have enough "flex". - Done
- Live off of our "new life" budget as much as possible, as early as possible. Obviously, we won't be able to cut down childcare until I stop working, but we may switch to a bimonthly cleaning, etc, to try & save more & prepare ourselves. - Done. We've made the switch on the cleaning side, and I've also taken a bunch of other expenses down a bit (or, a lot) so we can save more in the meantime.
- Get a grasp on how much we will owe in taxes in 2015, as taxes due will make a major dent in my current savings. - No, still waiting for M to provide me with some end of the year forms that will allow me to make some estimates.
- Determine how much "flex" money I need in our savings in order for the "40 week project" to be a go. Actively track over the next 10 months. - Yes, I have a goal of $140,000.
- Evaluate whether I can max out my 401K in 2016 with my bonus before I quit. . . this one will be totally dependent upon the new budget numbers. - Yes! I maxed out my 401K yesterday, with my bonus.
- Look for areas of our existing budget to cut back asap, so we can start building up a nice cushion. - we did a bit of this at the end of last year, but have really accelerated our savings in 2016. Woohoo!
And, in big news, I'm at just over $131,000 in my savings account at the half way mark! I'm very excited about this. Unfortunately, I won't be able to save up the same amount in the next 20 weeks, as much of the money was front loaded in the first half with stock options, etc. I'm only $9,000 short of my goal!!!!
On the more emotional side, the closer it gets, the more real it feels, I'm not going to lie. . . it's both exciting & terrifying. Talk to me about your big life changes! Hardest decision you've ever made, etc!