I’m a planner, but T is more inclined to take life as it comes (while doing things that leave him the most options down the road). These joint goals have been discussed, but I feel like if it weren’t for me, T would be perfectly happy having a single goal: “save as much money as possible for some future need”. Since this is too imprecise for me, here is what we came up with.
Max out both of our Roth’s and my 4o1k each year
We are already doing this, but this is one of my top priorities, so it needs to be listed. T has some other plan through his school, but I’m not pushing him to increase contributions there. When he finishes school, he’ll have plenty of time and money to catch up.
Joint Emergency Fund of $25,000
We currently have $22,500, but I think this is primarily a matter of shuffling savings around. T has a habit of keep excessive amounts in checking and I refuse to count it to our emergency fund until he makes the transfer happen.
Travel Fund to $3000 by mid-summer
This is approximately at zero, so… We have some work to do here! Look for a post on upcoming travel plans to see where this money may be going!
Long Term Savings to $5000
The number here is somewhat arbitrary, as the purpose of this fund is not yet determined
Start contributing $200/month to a car fund
Because saving up for a car takes along time!