Next year, the goal will be to put more money toward a home downpayment. The goal is $40,000 as a downpayment, with at least $20,000 still in taxable accounts as an emergency fund. We're going to be putting less into our retirement accounts, because while retirement planning is important, 33% is really kind of overdoing it. We currently have about $33,000 saved for the downpayment/emergency fund goal. 2007 will look more like this:
Retirement Savings 22%
Other Savings 28%
Living Expenses 50%
The goal of saving $28,000 for the downpayment/emergency fund in 2007 is pretty tight.
However, 2006's goal of $20,000 seemed tight too, but we did it somehow and then surpassed it. Overall, our net worth should increase to $100,000 by the end of 2007. We're definitely going to celebrate when that happens.
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