Back in February I was in a car accident and my car was totaled. I had insurance but it didn't cover all of my replacement car so I had to dip into my emergency fund to cover the rest. As of today I built my fund back up! I have $6000, which is about 4 months of living expenses.
It's hard just leaving that much cash money not hedged against inflation. I guess I could put it in a high yield savings account. SmartyPig.com has a 1.35% APY savings account which I'm considering and I'm also looking around at money market funds. I'll let you know what I end up doing with it.
5/08/2011
5/02/2011
401k Milestone
My 401k at my current job reached $10,000 a few days ago. I feel like that's a significant milestone in my journey and I'm excited! I started contributing to that account August of 2010, so it took me 9 months to stock up 10k. Granted, my entire retirement savings is around $16k, but we all like nice round numbers. Also, I think it's a good gauge of what I'm capable of now that I have a plan because during those 9 months I wasn't really focusing on saving.
Ok, I'm done bragging now.
Ok, I'm done bragging now.
5/01/2011
Goals for May 2011
This May I want to:
- Save $1500 over and above my 401k contributions
- Do something I've never done on my vacation to the Great Smoky Mountains
- Determine my monthly saving requirements to retire early
Wish me luck
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