Test Blog

Okay, it’s time to state a few goals that we hope to reach in 2013. Our savings goals are in the box below. We plan on saving over $100,000 by maxing out all of our retirement, educational and health savings accounts. Since I will turn 50 this year, I am now eligible for the catch-up contributions to my various retirement accounts. Consequently, I will be able to add an extra $1,000 to my IRA and $5,500 to both my 457 and 403b accounts; this will result in an extra $12,000 to my retirement savings. Getting older is not all bad. 2013 Savings Goals Accounts Self Wife Total 457 $23,000 $17,500 $40,500 403b $23,000 $17,500 $40,500 IRAs $6,500 $5,500 $12,000 Health Savings $6,450 $6,450 Total Retirement and Health Savings $99,450 Educational Savings Son Others Total Coverdale ESA $2,000 $0 $2,000 529 Plan $300 $300 $600 Total Educational Savings $2,600 Grand Total $102,050 Our spending goal this year is to live on $51,750. That number is based on our “free money” plus the 10% federal inco...

  Happy New Year to any and all Millionaire Educator readers!  Overall, 2012 was another great year in many ways.  Financially, we made out like bandits by savings over $91,000 in our various accounts.  Once again we maxed out all of our retirement accounts, funded various educational accounts, and started a health savings account at Alliant Credit Union ( link ).  Professionally, we left our jobs and moved back to our home in west Georgia.  My wife landed a job at a middle school and I took a job at my old high school.  Unfortunately, it only took me about ten days to realize that I had made a mistake; I should have realized that I was too burnt out to take a new job.  I next did what I had to do and resigned. Ever since late August I have been on a self-imposed sabbatical.  I now occupy my days with jogging, exercise, books and cooking.  All in all, my decision to resign was the best thing for me, but I was not happy about my abrupt departure.  I hated bailing out on co-workers...