We’re nearly midway through December already. That means 2009 is just around the corner. In the spirit of the new year, I’d like to ask:
What are your 2009 Financial Goals?
Here are mine in order of importance:
1. MAX OUT my wife’s 401(k). We haven’t maxed out her 401(k) in years. The market’s down so it’s the PERFECT time to get back into the habit. The IRS raised the employee contribution limit to $16,500 for 2009. My wife gets paid twice a month so that means she will be contributing $687.50 per paycheck. Wowza!
On top of that, she’ll also get a generous employer-match of 75% of the first 6%, or 4.50%. The employer-match should easily put her over the $20,000 contribution mark for the year (and maybe even closer to $25,000 if we get profit-sharing).
2. Recommit to our budget. I know, I know,…we should already be doing this. However, I got kind of lazy and complacent and haven’t stuck to our budget. We make decent money so it’s really silly of us not to using our income wisely. We do save money each month but we could do a lot better with some discipline.
3. Continue building up our emergency fund. Our efund is nowhere near where I’d like it to be. So, the third goal for 2009 is to get it to $10,000.
Those are my financial goals. What are yours?