Brief update on our finances

Last month I spelled out how we are investing our money in 2017. I mentioned there were some moving parts – namely, M was unemployed and we knew, at the time, that I was (newly) pregnant. Now, M has a job (yay!) and looks like this pregnancy will stick, so now we can do some real projections for 2017. Our asset allocation will remain the same. This year our total “retirement” contributions will consist of:

  • $18,000 my 403(b)
  • $20,800 employer match + contribution into my 403(b). Currently 20% vested. 40% vested as of August 1, 2017 so actually $8,320
  • $18,000 my 457(b)
  • $5,500 my Roth IRA
  • $18,000 his 403(b). No matching at this time
  • $11,000 his Roth IRA (his first! For 2016 and 2017)
  • Other sources:
    • A very modest amount ~$1,000 into my solo-401(k). Yes this blog likely won’t lose money this year 🙂
    • ~$5,000 his solo-401(k) – he has some 1099 income this year
Total: ~ $84,820 We are also socking away money for my planned maternity leave + new baby expenses. One of the main reasons we can put away so much is because our current housing costs are low (for NYC that is). It is definitely tempting to “upgrade” with baby on the way, but, after much thought, we have decided to re-assess sometime in 2018 after we have a better idea of what child care costs will be. We are now on a waiting list for an infant day care in the neighborhood for 3 days a week. My mom will come the other 2 days and be back-up if/when Eggy is sick. M will also be back-up. A nanny will cost at least $10,000 more a year. How are your finances going this year? Comment below.]]>

7 Comments

  1. mrspickypincher on May 22, 2017 at 9:15 am

    Congrats on little Eggy! Great job investing heavily as well. 🙂 Our accounts are doing well, although our primary focus is on getting rid of debt right now. We’ll probably be able to pay off my student loans by July. I had a job change, which meant I was out a chunk of money that we’d planned on being there. Oh well! Still on track to slay our debt. 🙂



    • missbonniemd@gmail.com on May 22, 2017 at 7:58 pm

      We’re older so we need max savings/investing. Loans on target to be paid off < 5 years and < 3%



  2. RocDoc on May 22, 2017 at 6:33 pm

    Great planning and that’s fantastic your Mom can help. Is Eggy her first grandchild?



    • missbonniemd@gmail.com on May 22, 2017 at 7:57 pm

      Yes!!



  3. Hatton1 on May 23, 2017 at 7:46 am

    Congrats on eggy. Congrats on Ms new job. Congrats on your saving rate. Congrats on having family nearby to help out.



  4. Passive Income M.D. on May 23, 2017 at 11:41 pm

    That’s a good chunk of change you’re planning to put away! Do you fund it all early on in the year to make sure it happens?

    Congrats on the baby! Smart move waiting to see how it all shakes out. You’ll need the space more when Eggy starts running around…



    • missbonniemd@gmail.com on May 24, 2017 at 6:58 am

      The 403(b)s and 457(b)s come right out of our paycheck so we never see it. So really it’s the Roths we just need to “Self-fund”. And yes we do them early in the year so we don’t miss it.



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