Goals for 2015

I’m not really sure what to expect from 2015. I’m starting it off with some big changes: my boyfriend having just moved in, our big trip, and then a new job. I’m also considering throwing another big change into the mix (see the mystery goal below), so I’m not sure what things will look like.

1) Enjoy living together! Have an awesome trip to NZ!

2) Contribute the maximum to all tax-advantaged accounts available to me. This means $5,500 in a Backdoor Roth IRA, $18,000 in a pre-tax 401(k) and possibly some additional funds to the after-tax 401(k) and possibly my 2016 Roth IRA amount in a savings account ready to deploy in January. This will account for probably about 2/3 of my savings in 2015.

3) Learn the ropes at my new company and have an awesome first year!

4) Exercise for at least 45 minutes per day. My phone is really helpful at tracking this for me!

5) Go to the gym (or run) three times per week.

6) Contribute enough to a Health Savings Account such that Out Of Pocket Maximum ~= Current HSA balance + Employer contribution + my contribution.

7) Succeed at Operation Bayes – I’ll explain this later.

8) Spend under $40,000.

9) Save 70% of my net income monthly…and 100% of my bonuses. (Yay for a big raise that will allow me to save that much of my monthly income!)

10) Contribute the maximum that I can to the Employee Stock Purchase Plan.

11) Pay down the mortgage with any funds that are leftover after 2), including the proceeds of 10).

Even if I make no extra mortgage payments, the mortgage will pay itself down by about $9,000 in 2015. I’m becoming much less concerned about the mortgage with the smaller balance and the likelihood of the interest rate jumping up to 7.5% when it resets seeming less and less likely. Right now, if it were to reset today, it would likely reset to 2.875%, which would actually lower my required payment by ~$400/month and increase the January 2015 interest cost by about $46.

Overall, I’m anticipating a net worth increase of about $100,000 to $120,000 for the year to increase my net worth to $630,000 to $650,000. I expect my gross income to be somewhere between $140,000 and $150,000 in 2015.

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11 thoughts on “Goals for 2015

  1. Wish you the best with your goals this year and excited to know more about the mystery goal. :-)

  2. 70% base + 100% bonus savings rate sounds amazing. Also, I really like the name for your secret project (“Operation Bayes”).

    • Thanks Taylor! My goal since graduating college has always been 50% base + 100% bonus savings rate, but this year, I’m going to see a much higher % of my compensation in base salary that I think I can raise the base savings goal :D Good luck with your goals in 2015 as well!

  3. I’ve been following all of your exciting life changes. Sounds like 2015 is going to be very exciting, finances aside. And you may reach some big financial goals on top.

    Looking forward to hearing more about #7.

    Do you really exercise 45 minutes a day? Impressive!

    • Thanks NTF! I appreciate the kind words as always. I’ve missed you the last while! Things are definitely good lately, especially since I quit my job. I’m really excited to see what 2015 brings!

      I have walked to/from work for the last five years at this past job. At first, that was only ~20 minutes of exercise per day, but now it’s about an hour. I’m unsure what it will look like with the new job – my guess is about 30 minutes per day will be easy, so I threw in another 15 minutees as a goal.

      • I’ve been following even if I haven’t been commenting all the time! All such exciting news.

        A yes, a walking commute. Sounds great, and such a great way to clear you head before and after work!

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