100: Automate savings for specific goals

So that they really happen

Steps

Name/IDWhy/Desc/Context
Define your savings goals (amount and deadline) (101) emergency fund, downpayment for new house, retirement, vacations, college savings, gifts, career-investment conferences, etc.
Turn each goal into a monthly saving schedule (102) (amount divided by months-until-deadline)
Review current cash flows, decide where flow for savings will come from. Adjust budgets. (103)
Set up Savings sub-account for each goal. (104)
Set up monthly transfers from Checking to each appropriate Savings goal-account. (105)

Public Notes/Forum

MemberNotePosted

Resources

TypeNameDescriptionPrice
Article John Ameriks
Does the 4% rule hold up?
Note that the '4% rule' implies that your liquid savings at retirement be 25x your target annual spending. $0
Book Chilton, David
Wealthy Barber Chapter 8
$9
Book Sethi, Ramit
I Will Teach You To Be Rich Chapters 4, 5
$11
WebApp DinkyTown
DinkyTown Savings Calculators
Show the benefit of increasing your savings. $0
WebApp Planwise
Planwise
Allows you to see and understand the impact of current and future financial decisions. $0
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