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Sunday, September 21, 2014

I just passed the big 4-0, don't feel much different.  Bought a used car last year, '11 Ford Escape, a bit too many miles but was a good price.  I'm paying it down at $250/mo right now, which makes the last payment in August 2016.  I'm likely to put a little money into it between now and then, but hopefully I can make it last another couple years after that point.

Putting an additional $75/mo towards mortgage payments and just finished year 2 of 15 year refinance.  With additional money being paid throughout, maybe a year or two can be shaved off the end, which still puts me in line to be mortgage-free by 52.  I would hope as our combined income increases steadily that I can pay down the principle more aggressively.  To be mortgage-free by the time the kids begin their college (me at age 49 or 50) would be a great goal.

Investments are going steady, have made a couple adjustments.  Wife is putting more towards her Roth but not maxing out yet, but neither am I.  Max contributions are $5500 for each of us (roughly $450 per month) and between the two of us, we are about two-thirds of the way there each year, though we have both increased over the past year.  I've also continued purchasing stocks that offer DRIPS (dividend reinvestment plans).  There are a number of no-fee ones to choose from and I typically try to get 25 shares of a stock and then move on to the next investment.

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