Tuesday, September 13, 2016

A new goal to close out 2016?

As I reconsider all of my work options (moving to fewer hours, leaving my employer altogether, taking on a reduced hours role at another company), I want to have a big safety net/cushion for this change. This safety net is critical for my own security, but also opens up lots of options for us on the relocation front (still under discussion), and gives me more freedom to find a different type of role & career altogether.

I'm tossing around the idea of challenging myself to have saved $200,000 by the end of January. I get a bonus mid-January, or I would have preferred the round 1/1/17 end date, of course. :-) I also want to have a maxed out 401K (important given my employer match & plans to change roles), and save $20K for our taxes (not included in the $200K).

I'm currently at $183,216. Do I think I can save $16,784 in just over 4 months? We are also coming up on Christmas, and have a vacation in Hawaii scheduled for Thanksgiving. It's going to be tight, but I want to set the goal! I think I can do it. Funds up for grabs will include:

  • Anything leftover from my bonus (although, after tax deductions, my 401K, and then my $20K saved for our 2016 federal taxes, I highly doubt there will be anything left). 
  • Stock vests (I get them monthly), minus taxes. 
  • Anything leftover from our standard monthly budget
Having this goal should give me a lot of motivation to cut down on our spending, stay on track for Christmas & our trips, & look for additional ways to cut the budget. 

I'm excited! I like big goals. What about you? Do you have any big goals you are working towards? I'm already 91% of the way to my goal, so this is about focusing on that last mile! 


  1. My goal is about the same as yours to years end, but I fear I have no where near your earning power. Still, different paths and stories for each of us, and I will cheer you on!

  2. What are some things you're willing to cut back on to meet your goal? I would find that hard!