Tuesday, March 07, 2006

Financial Voyeurism: My Short Term Money Strategy/Issues

We're a little tapped out from our new home downpayment made 10 days ago. However, this is what we've got going on.

1. Just reset my 401k contribution percentageup to ensure it gets maxed out by years end.
2. Making wife's 2005 IRA contribution within next 30 days.
3. Have $10,313 in checking/saving accounts now.
4. Bringing both high mileage cars (112k & 121k miles) into dealerships this week.

We've been saving over half of our take home pay each month (kinda like Sir John Templeton's savings rate early in his life). This savings rate is already starting to take a hit though with our preparations for the upcoming move (tires, auto work, etc).

Anyways, we should be eecking out roughly a 30% savings rate after the move until wife gets a new job. Once she gets established we'll maxing out her 401K and scouting for more investment property in the South East. If we can't find any good values we'll probably just plow money into our highest interest rate mortgage (5.85%) on an investment property.

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