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Savings Update

  There is now $115,737.98 in our retirement accounts. That is an increase of $1229.86 since June. Our emergency fund is up to $10,648.06. That is an increase of $4605.78. So all together that is an increase of $5,835.64 which puts me over the halfway mark for my goal for the year. Unfortunately, I don’t think there will be too much more put into these accounts by the end of the year. Hopefully the stock market will continue to improve and help me that way.

 Still need to get a few more CDs funded so that I have one for each month of the year.

Also need to think about my bank accounts. I have several and it may be time to consolidate. It would be so much easier if one bank would offer everything I want but that isn’t the case as of now. Need to think about it and come to a decision. But not now – the sun is shining and the garden is calling.


Savings update coming soon

I know I said I was going to do this right before I stopped posting for the summer and now it’s time again. I am starting to get my quarterly reports from our various investments. Once I get them all I will enter the information here. So far it is looking better than last quarter. The reports I’ve received so far show some gains. We’ll see how it all pans out in a week or so.

Goal – $250,000

So far, I haven’t written about my savings goal.  The goal is $250,000 in savings by the time I’m 60. I know there should be a lot more in there but it doesn’t seem likely to happen. We have spent and will continue to spend quite a bit on our house. We made the decision to have a large space and we are trying to use it to the best of our ability. We continue to add fruits and vegetables which saves some money at the grocery store.

Anyway, we have $114508.12 in various retirement accounts and $6042.28 in our emergency fund. I need/want to put more in both but it is a struggle. That means we are almost half way to the goal – as long as the stock market doesn’t crash, everyone stays healthy, there are no major disasters, etc. Need to think positive!

I can’t count on interest or growth and can only hope for no losses. With that in mind, to reach the goal we would need to invest $11364 each year. A rather huge sum – in fact it seems unattainable, but I still need to try.

 I try to save money in a variety of ways but I think I need to find a way to make money. I’ve read a few books about starting a home business but they weren’t really helpful. I don’t have an idea for a product to sell, I’m not talented enough to make and sell crafts and I really don’t want to go back to working for someone else. I like choosing when and how much work to do. Will need to keep thinking, reading and observing to find something that might work for me.

One of the books I read this weekend was Your Money Ratio$  by Charles Farrell. It was a good read but it was a bit depressing. I knew that I was spending too much on my house and not saving enough but this really brought that into focus.

I love my house and I really love my yard. We have a small orchard with fruit trees and grape vines, raspberries, space for veggies and herbs, lots of flowers and plenty of space for the kids to play and run around. I’m really not willing to downsize at this time so I need to find some ways to decrease our expenses or increase our income.  We probably will sell when the kids are up and out because the house really is too big for just two people.

Need to get more organized so that I can keep a better handle on our savings.  Also need to be more serious about taking money out of the general accounts and putting it into a dedicated savings account and leaving it there.

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