I'm ( fill in the blank) and this is 2020 - Page 5
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  1. #61
    Registered User CPA-Kim's Avatar
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    My only goal for 2020 has been to not draw on the principal of my IRAs. So far, so good.
    Kim
    The Lord will provide

  2. #62
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    More to the mortgage sent off. Still plugging away at the goal to get that principal down one third. If I don't make the full one third this year, it will be very close. fingers crossed, still hoping I make this goal. How is every one else doing?

  3. #63
    Registered User jettsmom's Avatar
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    Not doing as well as we'd like. My car decided it needed repairs. We haven't done anything to it except for the usual upkeep. It has over 100,000 miles and things are starting to need replacing. Of course happened at a bad time. We'll get it taken care of soon. Dh is waiting on a warranty refund from his truck. That will pay off a lot. Then bonus time is coming. That should take care of anything else. All of the dogs will be needing their rabies shots and with the vet only taking appointments it will be hard to get them all in. They are mostly indoor dogs, so I'm not too worried right now. But that will be a lot of $$ when I do get them all in. Maybe I'll do two and then do the other two a few months later so that next year it won't all hit at once. Anyway, still plugging along, just not doing as well as we'd hope, but not giving up either.

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  5. #64
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    well when we set goals usually things blow up but so far ok. using the tax return money to redo the bathroom which really needed it. plus the painting of kitchen which was a issue old paint etc. dh did use money from inheritance to pay down mortgage, line of credit and put money in retirement funds. really it had been about getting life back and get things done now that we have the time and can do things around the house we wanted too. also got the bigger windows in downstairs. so far so good. two mini getaways

  6. #65
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    We are able to pay off the house by selling property. I'll discuss with DH again, although I'm sure he won't want to. My thought is to relieve stress and just pay utilities, repairs and any health issues with the jobs we will continue to work until we are on Medicare. The kids are still home but oldest is well financially and youngest is in school. Maybe without the mortgage, we could be ok. I would have to tally expenses for household and my medical to see what we need per month. I believe this is how it's done in most situations as my in-laws sold their home for big bucks and moved to a low cost area and built a new home for cash. They have pensions and SS and disablilty was given many years ago to MIL. My mom sold her home for decent change and moved to a apartment. Her pension and SS were plenty by itself.

  7. #66
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    The shutdown has been a mental challenge, and caused an increase in spending for food and house/garden. In addition, the transition towards a new budget with lower income and lower debt has been challenging. I think we are starting to find a new normal, and August was the first month with average income and expenses, and a small surplus. The index fund savings are automated, and I feel a bit demotivated by only having one large savings/debt goal. I think I need to break it down into smaller pieces. As soon as they fill up to 5000, I can get larger chunks bitten off the mortgage.

    #1: $2456 ($2544 left)

    Main goals:
    Index fund: $22 400 ($6 000 left in 2020)
    Mortgage: $90 000 ($75 000 left)

    Student loan #1: $9 000 (done)
    House renovation: $35 500 (done)
    Full size EF: $ 15 000 (done)
    Property lease and paperwork: $10 000 (done)
    Student loan #2: $27 000 (done)
    Solar energy and EV charging: $15 000 (done)

    Total paid/saved: $223 900
    Total goal: $304 900
    To do: $81 000
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  8. #67
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    truly blessed here. More piano students returning. I was able to add some to a renewing CD. Not much, but nickle and diming it up has always been the way I have gone when adding money to them. Pretty soon, you have a nice little chunk of change there just by adding to it in small amounts. Sure has come in handy when i have needed to cash them in at a renewal time for something that cropped up.Waiting for next paycheque to see where we are in our finances. Health insurance premiums changed and it's like a raise. got to see how much more is showing up in the paycheque. ( although, I do not like the SS tax that they are planning on not taking out, and then we have to repay it in the first few months of the new year. That is the way I understood it to mean, and I also read that you cannot decline this tax "holiday" )

  9. #68
    Registered User larabelle's Avatar
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    I have not been here in quite awhile...I have been blessed this year. I have been able to cash flow home repairs ( foundation work ~ SHEESH IT WAS EXPENSIVE , gutters, back patio renovation). I do need another vehicle but I won't complain as my car gave me 18 years and over 200K miles so I am saving for that. All year I have worked 40 hours weekly with overtime available and we are hiring.
    Blessed and Highly Favored!!!!
    From $78K in debt to debt free and purchased a house and used car with 100% cash...God is sooo Good!!!

    Goals:
    New to me vehicle

  10. #69
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    Looks like they did still take the SS from the paycheque. I am glad of that. We got a refund from our escrow account which we were not expecting so that was a nice surprise. got the mortgage cheque ready to go after the 15th to post to the account before the 1st. We are close to making the 1/3 down, but not quite sure we will totally get that. It will be close Aiming for a payoff in about 26 payments or less to have it totally gone. Feeling like we are in the final count down.

    We are in the final quarter of the year ( and what a rollercoaster of a year this one has been) How are you doing?

  11. #70
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    Larabelle- Glad you were able to save and get all of those repairs done! That's fantastic!

    Knotme- Paying off a mortgage in 6 months or less sounds wonderful! That's when dedication and motivation meet! Good things happen!

    My stocks had some losing most of their money that I purchased them with and others made money. In the end, I made a little bit, cashed all of it out, and cash flowed Christmas presents. I'll be taxed on a measly $3.42....No big deal.

    We did another refi and the good news is that since it's been less than a year since the last one, we weren't charged the appraisal fee of $600. They just gave us the refi, which saves us $200/mth. And we did the same term for 20 years.

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