Savings

Retirement Savings
We're putting the maximum pre-tax savings we can into our super funds where we get the best tax advantage and employer contributions.

5 Year Goal: $500,000 combined DONE!!  
We hit our five-year goal in Jan 2020. Only two years. When I set our goal it felt as if it would be difficult to reach that amount in five years, but it's amazing what regular investing, compounding interest and a good market can do. 

2019 Goal: $420,000 DONE!
2020 Goal: $500,000 DONE! August.
2021 Goal: $650,000 DONE!  July
2022 Goal:

After we retire we will sell up and add what's left from the mortgages. change of plans, we are now staying in our current house

Retirement Savings Progress:

Our retirement savings are all in superannuation funds for tax benefits. So these amounts include employer contributions & salary sacrifice pre-tax contributions & occasional post-tax contributions.

date
Jan
DH
Total
1st Jan 2018
91,703
239,180
330,883
1st July 2018
103,103
269,286
372,389
1st Jan 2019
109,221
267,200
376,421
1st July 2019
134,631
315,187
449,818
1st Jan 2020
157,700
341,226
498,926
1st July 2020
156,209
321,106
477,315
1st Jan 2021
194,374
368,364
562,758
1st July 2021
230,180
418,579
648,759
1st Jan 2022



1st July 2022



1st Jan 2023



1st July 2023





Emergency Fund

I am just aiming for a small emergency fund to manage anything urgent.
Goal: $2000 DONE

No comments:

Post a Comment