Month: March 2016

Thursday Thoughts

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Happy Saint Patrick’s Day!

1. Facebook is a place to be social not to try and convince people who they should vote for.  Posting hateful messages about any group regardless if you are a Republican or a Democrat it’s just unnecessary.  The best thing about our country is that we are allowed to think and believe in whatever we want.  Don’t insult someone if they don’t believe in whatever you believe in.

2. I have officially gained 25 lbs so far this pregnancy and I am not so excited about it but I have done everything in my power to remain as active as possible so I am not going to feel bad about it. I have actually been more active throughout this pregnancy then I was the first time.  Pregnancy is rough and staying active when you have a full time job, a toddler and a house to maintain is no joke.   Lately all I want to do is lay on the couch.

3. I have the utmost respect for single parents this week.  My husband is on a well-deserved climbing trip in California and luckily my mother was available to visit for the entire time he is away but it’s not the same without him – so I am not even officially a single parent.  But being woken up at 5 am when your kid has his 6th fever in 5 months and you have a head cold with wicked sinus pressure and your 8 months pregnant on a day where you’re in charge of a client event for March Madness with 300 clients/guests in the afternoon into the evening.   I just need to put my head down and get through the day.  Wish me luck.

Tommy climbing
This pic made me poop my pants a little but I know he doesn’t climb something high unless he is confident he can.

I would like to retire, would you?

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RetirementSo when I embarked on this blog, I was hoping to write about everything I am passionate about and finance is included in that list.  Recently a friend texted me asking “You said you maxed out your 401K, what does that mean?”

If you work for a traditional employer like I do, more than likely you have an employer sponsored 401K plan and hopefully your employer is matching a certain percentage of your income.  I am a huge proponent of 401K plans.   I don’t really understand when people make excuses about not being able to participate especially when there is an employer match, that’s like someone throwing money at you and you saying “No, I’m good.”  If you have a 401K plan and are not at least participating enough to receive the full match, you may need to reevaluate your budget.   I know every situation is different but I participated when I was living with the tightest budget I have ever had to live with.  I went a full year without buying myself anything other than the necessities. I lived on a TIGHT budget and still managed to save $10,000 in my 401K that year.  So in my mind where there is a will there is a way.

Back to my friend’s question, maxing out your 401K means contributing $18,000 a year or $1,500 a month.  It’s a substantial amount of money and that’s why I wrote about it.  I am damn proud of that number.  The maximum number changes regularly and it is set by the IRS (www.irs.gov).  The added benefit to saving for your own retirement through a 401K plan is that the dollars are coming out before taxes.  So when you are taxed the government is actually taxing a lower amount than you truly made and you are lowering your adjusted gross income (AGI) for tax time.

If you are fortunate enough to have excess income after maxing out your 401K, I would recommend an IRA which you can read more about here: https://www.irs.gov/Retirement-Plans/Individual-Retirement-Arrangements-(IRAs)-1.  Which is also a great way to reduce your AGI and tax liability.

The main reason I am continuing to work while my babies are small is retirement.  I have a goal to retire at 55 and am doing everything in my power to make that happen only 20 more years of work left!

 

Thursday Thoughts

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A week has gone by and I have not posted.  Oops! Oh well, here goes:

1. I am officially 30 weeks pregnant which means I have a human growing inside of me that could successfully live outside of me – just digest that for a second.

30 weeks pregnant

2. I am still running – Up to 13 miles so far this month not too much but it’s something.  My son officially equates running to me.  He says run run run and then starts running.  Its adorable and I hope I can instill a good habit like running regularly into his life.

Children

3. I HATE going to the airport.  Even if it’s just to pick someone up I really do hate it.  I went today to get my mom and my anxiety level was ridiculous.  I don’t mind flying, I don’t mind planes – I HATE AIRPORTS but I do love to travel.

4. Speaking of travel my hubby is leaving for his 10 day climbing trip on Saturday, if you are interested in rock climbing feel free to follow him on instagram: @thomashartey

5. My mom is visiting for the next 12 days which means my house will be spotlessly clean very soon.  It makes me GIDDY with excitement just thinking about the dirt she is extracting from my house right now.

6. On Sunday I felt like death warmed over, I spent the entire day watching Grey’s Anatomy.  I recently began watching it from the very first episode because it has been years since I last saw it.  Let’s just say it was probably a poor choice for a hormonal sick pregnant woman.  There are too many death involving babies and pregnant women for anyone in my state to handle.  Either way I couldn’t stop watching.

Greys

 

Happy Weekend to me as I am off tomorrow!