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Archive for September, 2021

Budget Trial Run

September 26th, 2021 at 03:04 pm

Although, our income will not be reduced until mid November, we will be living on my husband's retirement income alone starting October 1st. It will give me (I'm the CFO in our household) an opportunity to twick or make changes to our budget. As it stands, we'll have a surplus of $750 in our budget. If it proves to be correct, I will put half of it in our savings and the other half to make contributions to my Roth IRA. Any money I can make will be going to fun things like traveling, retirment and a helping others. 

Working with much less, but happy

September 25th, 2021 at 03:22 am

Significant loss of income is expected by mid November in our home. I am grateful that we have no mortgage, no small children to support and no consumer debt  The loss of income is voluntary. This was a second try at a profession that I feel may have reached the end of the road. We will be living on my husband's income which derives from a dimunitive state pension, early social security benefits and $500 surplus on a rental property. Our health insurance is covered by the state pension and it costs less than $50 a month. Any money I can make will go to fund my retirement through a Roth IRA. In all, I feel very grateful to have play the cards right and stay out of debt. We also have a healthy emergency fund. 


September 4th, 2021 at 06:35 pm

Since my last post a couple of months ago, all our financial efforts (now that the house is paid for) are going towards amping my retirement funds and beefing up our savings. My husband is already retired and a decade older than me. I neglected to fully fund my Roth IRA but I am not, if I can help it, allow that to happen from this day forward.  

Our bare bones budget is $1950.00 ($800 of it is monthly property taxes) since we do not have any consumer debt and children in the home to support. Our boys have been self sufficient young adults and for that I am really proud. I am also increasing contributions to my 403B. As of now, when I retire I can claim a $2,400.00 state pension at the age of 60.