After worrying about whether I could max out my 403(b) earlier this year, I was very happy to see my updated paychecks. Between increasing medical insurance premiums, increasing my FSA contribution, increasing my charitable contributions, and fiddling with direct deposit to my “secret account” where I hide money from myself, I wasn’t sure if I could afford to increase my retirement contributions as a catch up.
When I saw my new paycheck, I was thrilled to see that I had some extra room. Enough to increase my retirement contributions for the rest of the year.
Saving more money for retirement, however, comes at the expense of my monthly savings; this another reduction, not counting that other reduction, after taking my 10% salary cut last year.
Therefore, I have less to throw at the mortgage principal, in my attempt to pay off my house. Hopefully I can do this by the end of the year. Maybe, if we get a tax refund, over the summer.
I feel very lucky to be able to do all these things: save for retirement, pay off my mortgage, give to charity, cut my hours (a little). Today I feel a little impatient though. I have to remind myself I can do it all, just not all at the same time.