Financial goals in 2021 (paying, credit, employment, employee)

[Bluefox]

Well let me start by saying I was incredibly blessed this year to not have the sort of hardships others have had financially.

It’s also really made me grow up a bit in terms of my finances. With the pandemic I had to cancel two international trips and have obviously dialed way back on dining and domestic travel. This year we took a trip to the Dominican in February (mom got me a voucher for an all inclusive so cost was only the flight) and then I flew to San Diego in October for my nephew’s first birthday. Besides that I’ve done no travel other than locally.

Because of the boredom I did take a side hustle which earned me about an extra $5k. I was able to put away about $15k into savings. That is far and beyond more than what I have ever done before in a year. I think now that I know I can do it I will be more focused on savings in the future. So in some ways, this curse of a year has been a blessing as well.

I’ll probably continue the side hustle next year and won’t be rescheduling the international trips until probably 2022. I’d love to put another 15k in the bank next year but who knows.

[mshultz]

I will file the necessary state & federal tax forms for my parents' estate & trust fund in 2021, wait for the refunds, and disperse the remainder of the trust to my sister and me. We distributed most of the trust in 2020 after mom died.

[floridarebel]

Keep adding to emergency account.
Increase 401k and Roth IRA contributions
Go with different bank.
Possibly open a Health savings account.
Start saving for home down payment.

[roadwarrior101]

1. Max out my 401k (pre-tax to $19,500), total amount $57,000 (including company match + after tax)
2. Max out IRA contributions for my wife and I ($12,000 total). My wife doesn't have a 401k option at her job as she is a contractor
3. Max out my company ESPP contributions ($25,000 out of pocket for about $40-45k in purchase)
4. Contribute $10k to each of my 2 kids' 529 plans ($20k total)
5. Invest about $80-90k of my vesting RSU's in different stocks (combination of growth and value stocks/funds for diversification)
6. Keep about $50k for a combination of home improvement/maintenance and trips (assuming COVID vaccine makes travel safer)

Overall, goal is to contribute about $200k into combined retirement/investments not including 529 plans (about 35-40% of gross income). For #5 and #6, might be a little less if our income is slightly lower than expected. Goals of contributing so aggressively would be to allow for early retirement (we are currently in mid-40s) or purchase of a vacation home down the road (still undecided).

[iShine86]

1. Keep a job/Find a side hustle
2. Start and build up 3 month emergency fund
3. Pay down debt

[RationalExpectations]

Originally Posted by flyingsaucermom

Mo' money, mo' problems...

Many decades ago, I had dinner with the legendary Robert Noyce, inventor of the Integrated Circuit (IC), member of the The Traitorous Eight who left Shockley Semiconductor to found Fairchild Semiconductor, and co-founder of Intel Corporation (along with Gordon Moore).

Bob Noyce was a very wealthy man. He was also an avid pilot. He owned a couple of private planes.

He complained that it was so hard to find a good, reliable, honest airplane mechanic. He was sure his mechanics were both incompetent and ripping him off.

Yes, he had, as you say, "mo' money, mo' problems."

He was complaining about his airplane fixed just like a regular person might complain about getting a car fixed.

[aslowdodge]

Originally Posted by galaxyhi

Lol, flying...what else should I do? Cry in my coffee?
I'm having a ball! I'm back in the dating game, can't do much about the hair I lost starting at age 16, but what remains isn't very gray anyway.
My gray beard, on the other hand, Actually made me 10 years older, so I dyed it! Now I look 10years younger! And I have oil of olay day and night creams, and what furrows existed across my forehead and brow (due probably more to stress than aging) have Actually disappeared.
If I'm going to be in the dating game, I want to look my best!

I've actually also lost about 145 pounds over 3 years, and now am down to size XL ( was a 6xl!)

I've been redoing the house the way I want !(instead of it being ALL my ex's way!)

I've been "having a ball"!

My stress level is like in the negative digits, instead of triple digits!

Yes, I'll bide my time, and as soon as no longer "attached", I can seek revenge(though I'm not quite the type!) By making sure I have the best retirement WITHOUT my ex that I am able!

*Note I WAS on a manic tear for about a month in Nov, and really crashed and burned Thanksgiving weekend.

Now I'm on a more even keel, but still thoroughly enjoy myself and MY life, MY way.

I wish ALL the best they can get/make happen/be/do!

Lol, flying, I hope you found my post as "informative" as it was "entertaining"!

I do believe next year this year, I can report significant changes in MY financial well being.

Maybe in July I can report back, if not see you throughout the year!

Best to all...

Man I am glad to read that all these good things are happening for you. You’ve had a bit of a rough one in the past. Keep it up

[MSchemist80]

Pretty much stay the course
-Keep living frugally
-Max 401k/IRA maybe a little extra in taxable
-Keep job
-avoid wealth killers as much as possible poor Democratic governance/Marriage, children, divorce/health issues/legal problems

[ticking]

2020 has been a very good year for me and my business. Assuming I'm not dead before 2021 hits, my intent is to live a little better. Spend more money, and work a little less. I'd like to buy a ranch overseas this year if I find what I like. If the virus is still impacting my plans, I'll continue to work everyday and save more in hopes of a future day where things are more like they used to be.

[ncole1]

First, to live on about 60% of my income. Second, to recover normalcy.