Call Me Advisor
In the 50/15/5 rule, what % goes to spending, retirement savings, and short term savings?
50% - Essential Expenses
15% - Retirement
5% - Short Term Savings
Which trip was our most expensive this year?
Croatia
How much of our budget do we allocate to coffee a month?
$80
How much are we putting into Ally each month?
~$5,500
How much money this year have we spent on rent?
$30,000!
A home should cost what % of your income?
25% or less
Which trip were we most under budget?
Roach Charleston Vacation!
$136.89 under on $1,000 estimate
What is our cost of living expenses (not travel) per month? Bonus! What % is that of our take home?
$8,081 which is 51% of total Wolfle take-home pay!
What Annual Percentage Yield do we earn in Ally?
4.25%
Interest Rate: 4.16%
How many trips do we have budgeted for 2023?
17!
What is the max contribution for 401(k) or HSA in 2024?
$23,000 401(k)
$8,300 HSA
Besides Croatia, which top 2 trips were we most over budget?
Carlson wedding ($1,000 over) and Erich bachelor party ($1,200 over)
What month (July - Nov) did we spend the most on restuarants?
October! Ciccio Mio, Avli, Ranallis, Sushi, Roberts, Oakville
How many months of the year did we have 'bonus' savings into Ally?
4!
What is Kelly's and Chase's monthly take-home?
Kelly: $12,740 and Chase: $15,333 for a total of $16,726
Which employer contributions count towards max contributions: HSA, 401(k), or both?
HSA
What was the average cost of a single trip this year?
$1,653
What is our average monthly grocery spend?
$1,462 (about $365 a week, versus budget of $200)
What interest YTD have we earned in Ally ($)?
$2,799
How much money do we have in our HSA today?
$4,754
What is a Mega Backdoor Roth?
A strategy for people whose income is too high to be eligible for regular Roth IRA contributions. You simply roll money from a traditional IRA to a Roth.
Which trip did we spend nearly exactly to our estimate, only off by $2.32? Hint: Celebrate!
Lauren's Graduation Weekend!
How many months of the year did we spend less than our take home income that we live on (excluding travel income and spending)?
8! Only $2,441 off in Feb - April!
What % of our bonuses did we save?
91% (Extra $36,000 into Ally!)
What day did we meet our $4,000 deductible this year? Hint: It's an important date on the calendar