New actions for 2025

[iris lilies]

Great spend rate jp, at 42% of take home.

We used ro strive to spend one salary only and save the other, but since we didn't really budget I don’t know if we achieved it.

Our net worth went up about 10% in 2024.

[Tybee]

Great spend rate jp, at 42% of take home.

We used ro strive to spend one salary only and save the other, but since we didn't really budget I don’t know if we achieved it.

Our net worth went up about 10% in 2024.

Mine went up 21%, with about half of that being an inheritance.

[catherine]

Substack is an interesting platform...I read some things published there...hope Catherine is having good luck with it!

Right now, I'm going to publish gratis and not try to monetize my writing....though I've supported myself prior to retirement as a writer/journalist in diverse markets--public relations, advertising, magazines, newsletters, Web content, books--in fiction and non-fiction...

But now??

I just want to write for the sheer joy of it! My website will give me a platform and means to communicate and speak to and with kindred spirits...an affair of the heart.

Yes! I started about a year ago. I'm writing a book and serializing the drafts. The working title is Exit 9: The Off-Ramp to the Good Life and it's for people who are not satisfied with the current culture and would like ways to detach from it.

Anyway, HH, congratulations on your launch! Substack is a great platform. I haven't monetized mine yet--my goal is to turn on paid subscriptions April 24.

I'm happy to subscribe to your newsletter!

[jp1]

Great spend rate jp, at 42% of take home.

We used ro strive to spend one salary only and save the other, but since we didn't really budget I don’t know if we achieved it.

Our net worth went up about 10% in 2024.

When we were shopping for the house we both agreed that we wanted to be able to afford it on one of our salaries. Thankfully we both earned enough that this was doable. A couple years later SO decided to leave full time employment for assorted reasons. He’s doing some contract work and would take the right ‘last’ job if one comes along but we don’t need the income which has been awesome.

I was talking with a younger professional acquaintance (early 30’s) a couple months ago who had just bought a house near us. Not only can they not afford it on one salary but he and his wife actually have an interest only loan. I can’t imagine putting myself in such a precarious position financially. I’ve not seen it but the house sounds lovely I suppose…

[iris lilies]

When we were shopping for the house we both agreed that we wanted to be able to afford it on one of our salaries. Thankfully we both earned enough that this was doable. A couple years later SO decided to leave full time employment for assorted reasons. He’s doing some contract work and would take the right ‘last’ job if one comes along but we don’t need the income which has been awesome.

I was talking with a younger professional acquaintance (early 30’s) a couple months ago who had just bought a house near us. Not only can they not afford it on one salary but he and his wife actually have an interest only loan. I can’t imagine putting myself in such a precarious position financially. I’ve not seen it but the house sounds lovely I suppose…

That’s like leasing a house. Might as well rent.

[HappyHiker]

Yes! I started about a year ago. I'm writing a book and serializing the drafts. The working title is Exit 9: The Off-Ramp to the Good Life and it's for people who are not satisfied with the current culture and would like ways to detach from it.

Anyway, HH, congratulations on your launch! Substack is a great platform. I haven't monetized mine yet--my goal is to turn on paid subscriptions April 24.

I'm happy to subscribe to your newsletter!

Thanks a bunch. We're working on some tech things on the site (isn't conquering new tech bunches of fun??)... so as soon as conquer that, we'll post the blog link.

Right now, I want to keep the site free--because I like reading free things myself and decided not to monetize the site...

Weird? Maybe so, but I've friends who have "give-away" hobbies such as knitting and quilting and baking and I've been gifted with their creations so wanted to do the same with my writing.

When I was working I did write for money and that was fine. But now a new chapter opens...

Please keep me up-to-speed with your writing projects. Love to support other writers..great to meet you!

[HappyHiker]

Okay, gathering my courage to post the link to my blog...she says, nervously, but here goes:

pattytakes.com

Notes from the First Baby Boomer

Hope you enjoy it!

[Tradd]

Got my W2 today and filed taxes on my phone at lunch. It’s simple. I only owe the federal $220 this year. It was at least $1500 last year. 401K for the win.

[jp1]

I usually owe the feds and get back roughly the same amount from the state. Not sure why that is or how I can fix it but I've learned to live with it. This year, since I took some long-term capital gains in December that haven't had any taxes withheld I will undoubtedly owe on both. But that's fine. Since I've taken more gains this year I should probably file an estimated advance tax payment or whatever that's called. Otherwise I'll probably get a penalty for underwithholding next year.

[ToomuchStuff]

Last year had a LOT of expenses in the business. Years of not updating equipment, owners embezzling, gambling, etc. Major equipment replaced, had a decent start of an emergency fund that I dipped into a bit due to bad weather and closing for four days when rent was due (should be getting it back in bank account as business is picking up due to people being tired of being home). Had more work dilemma's to deal with, lost a day off due to one (so four days off last year, and Christmas off but family didn't let me sleep in). The weather closure gave me almost as much time off as I had last year, LOL.

Finally closed on my house on 12-30, although officially on the 10th of Jan. Basically, finally got everything in order as the idiot is not coming back and only a 50% chance of him living through this year. (didn't do his rehab) His family isn't happy, as he charged me more then they wanted to, however almost 2/3rds of the house is already what I have in equity.
Going to work on pricing at the restaurant, with our accountant/tax guy to get everything figured out, as they just kind of dart boarded it. Looking at POS systems and eventually taking credit cards, as that will increase the business.