We’re approaching the end of the year so I thought I would take a moment (or a series of three posts) to look back at the savings goals we set earlier in the year. In short, they were to:
• Save enough in cash to have a 20% down payment on our town home.
• Maintain three months worth of expenses in a high-interest online savings account.
• Max out our contributions to our retirement plans in 2008: me 401(k), my wife 403(b).
Ok, let’s look at the first one…
Save enough in cash to have a 20% down payment on our town home.
COMPLETE!
Yes, we were able to do this! We began saving for this in September of 2006 and purchased the home at the end of September of this year. We saved a certain amount every month, plus all job bonuses. I was also able to sell my car for a decent profit and finance an older one. The saved money was kept under a mattress (just kidding). We actually put the money in ING DIRECT’s Orange savings account.
I’ll tackle the next two goals Thursday and Friday.
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