Continue putting money into our savings account or open a separate account, possibly low-fee index funds? 2) Im a bit dumbfounded about how to allocate our savings now that we are out of debt and have extra money to save. Were not maxing out our retirement accounts and might be able to, however, this would leave us very little savings for anything else. Should we try to max out our retirement accounts before allocating money to other things, such as travel? 3) I love the thought of investing in low-fee index funds outside of our retirement accounts, but is this an option for us since we are not maxing out our retirement accounts? Frugalwoods Recommendations The rangers at Sitka national Historical Park The rangers win, hands down, for the coolest jobs.
Resume, park, ranger, mike
Ranger Roth ira 6,910 Contribute 100 a narendra month, plus any extra month left over. Ranger Roth ira 3,464 Just opened a few months ago and put in about 100 a month Total: 58,098 Cars Vehicle year and make notes. Rangers vehicle 2000 jeep Wrangler paid off in full Mrs. Rangers vehicle 2014 toyota corolla paid off in full Debts: 0 The rangers questions For you. Ranger in Venice, italy 1) I feel like we are analyst always planning for the known unknown. If we want to advance in our careers, we have to move. Moving may or may not include purchasing a house. In some park service locations, the park is able to provide housing for its employeesnot for free, theres still rent to paybut this makes moving to a new job much easier. However, more often then not, housing is not available and Rangers are required to purchase a home or find a rental. I would like to start saving for a down payment on a home, in the hopes of moving in the next 1-3 years. How do you suggest we go about saving for a house?
Amazon household expenses.00 Includes dog food, protein powder and anything else we might need with a two-day notice. Restaurants.00 we treat ourselves to a meal out each time we go in to town Gas for cars.00 Friday treat.00 to celebrate the end of first the work week we purchase a 6 pack of craft beer for the weekend. Cell Phone.00 we share a cell phone. It is the most basic of the basic and we are still on my parents plan. Medical.00 This includes copays and any other medical expenses. Hobbies.00 About 20 a month for home projects Clothing.00 we infrequently purchase clothes, but 20 a month equals about what we spend a year. Entertainment.19 Netflix and Hulu renters personal Property Insurance.00 Amazon Prime.91 Total Monthly: 1,516.10 Total Annual: 18,193.20 Assets Item Amount Notes savings 24,000 20,000 is our emergency savings and what is left over is for travel. Ranger tsp (401k) 13,338 5 match from employer and contributing 24 (13,000 per year). Ranger tsp (401k) 10,386 5 match from employer and contributing 24 (13,000 per year) Mrs.
Ranger 28,000 After tax, health insurance and tsp (401k) Mrs. Ranger 19,000 After tax, health insurance, tsp (401k and Rent. Rent is deducted directly from my paycheck thesis after taxes, it equals to about 500 a month. Combined Annual Total: 47,000 Combined Monthly total: 3,916.66 Monthly Expenses Item Amount Notes Groceries 350.00 This includes all of our food, household, and personal items. Random 250.00 we seem to have one random expense pop up every month, such as a vet bill, new computer, car expense, or a health-related bill. Roth ira contributions 200.00 Split between two accounts Car Insurance 124.00 For both vehicles writings Utilities 120.00 Electric and propane. Internet 114.00 This includes a landline, which the phone company requires us to have. Here is only one internet provider in our location and they only have one option.
Where The rangers Want to be in 10 years: Finances: we want to be on our way to financial independence, with the hopes of retiring in our early 50s. I would also like to have some funds available in non-retirement accounts. Lifestyle : In 10 years, i see us continuing to be fur parents and maybe having a baby in the next two to three years. Our dream home would be a house that we either own/rent that has about an acre of land, enough to be able to garden and maybe have a chicken or two. We would also still like to be traveling. Ranger and I both love our careers. I see us continuing to work for the park service and hopefully advancing up a level from where we currently are. Our careers would also require us to move and hopefully well be in a location that is not as remote as our present one. The rangers Finances, income, annual Net Income, amount.
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It never crossed our minds to save for retirement on our own! I am very grateful to my older brother who finally sat me down at the age of 29 and told me about Roth iras. In light of this, i feel like we are playing catch-up with our retirement savings. During our time as seasonal employees, we managed to stay out of debt aside from our student loans and a car loan, all of which we paid off in January 2017! The rangers Current living Location,. Ranger at Carlsbad caverns National Park.
We are currently living in a very remote part of the southwest. We are so remote that the nearest grocery store, hospital, doctors offices, and more are an hour and half drive away, and the nearest town with an airport and big box stores is about a four hour drive away. It took time to adjust to where we currently live, but after two years, we have it down. We go to town about once every two weeks to buy produce, meat, and dairy. We do big stock-ups internet at places like target, walmart, and large grocery stores about every three months. There are some perks to living so remotely: first, we dont have stores nearby to spend money at, and second, our rent is insanely cheap. But our life is very different from people who live in cities and towns.
We cant plan this part of our life out, because we never know when or where a vacancy might pop. . What we do know is that we want to move in the next couple of years to somewhere west of the mississippi, but who knows where that will be or when that will happen. The rangers Hobbies, the rangers Dog hairy, since we are minimalists, we keep our hobbies minimal too, and they include: walking hairy, exercising in our home gym, fixing up our yard, hiking, and camping. We have an active little community and often partake in events, which mostly consist of pot-lucks. Our biggest splurge is travel. We try to take at least one overseas trip every year or two, and have visited some great sights throughout the years, while staying on a budget.
Travel is a big motivator for us to save more and buy less, and we hope to continue taking these semi-yearly trips. We generally try to keep our trips as low cost as possible, but end up spending about 2,500-3,500 per trip abroad. In addition to traveling overseas, we also take short week-long trips about twice a year to visit our families, who live in different regions of the usa, which usually requires us to fly to see them. When youre a seasonal Park ranger, you are not entitled to an employer-sponsored retirement account, so during our first seven years out of college,. Ranger and I never took an interest in learning about retirement or long-term savings. During this time we were mostly concentrated on saving up enough money to pay our bills during the winter when we might not be working, or saving for a vacation or a car.
Rocky mountain National, park, bark beetles Face renewed
We had a fantastic time seeing our beautiful country, but it also meant it was hard for us to save because we never knew what was ahead. Plus, theres a popular saying among Park rangers: we get paid in sunsets and sunrises, which means our income might not be great, but our office locations definitely are. To get a position with the nps, people often golf assume it works like the military and that after youre hired, the park service sends you where summary they need you. I wish it were that simple. The way it actually works is that applicants apply to specific positions and then months after you apply, you might hear back from a park. Often, my husband and I had to put in 50 or so applications per season in the hopes of being hired, which was never guaranteed. We never knew where we would end up, or if both of us would even be employed at all by the nps. This still rings true today. To advance further in our careers as Park rangers, wed have to move to another permanent position, at another park in a different part of the country.
while working as seasonal Park rangers and were married in 2011. We are self-proclaimed minimalists, which helps us to be frugal savers, but were just now getting serious about financial independence. Their Careers, about two years ago, we accepted our first permanent positions with the national Park service (NPS). This was very exciting for us since with a permanent position we now both have a steady paycheck, benefits, and retirement accounts! Before we accepted these positions, we worked as seasonal park rangers, which entailed working six month appointments at different parks all across the usa. Weve worked at some amazing places including: Rocky mountain National Park, acadia national Park, grand Teton National Park, and Yosemite national Park, along with a few smaller nps units along the way. Ranger at Grand Canyon National Park.
Another way to gender get support on your financial journey is to participate in my free Uber Frugal Month Challenge! You can sign-up at any time to join the over 21,000 fellow frugal sojourners whove taken the Challenge and saved thousands of dollars. I probably dont need to say the following because you all are the kindest, most polite commenters on the internet, but, please note that. Frugalwoods is a judgement-free zone where we endeavor to help one another, not to condemn. With that Ill let Mrs. Ranger, this months case study subject, take it from here! The rangers Story,. Ranger at Grand Teton National Park.
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Frugalwoods, november 13, 2017, have you ever wondered about the life and finances of the park rangers you see staffing Americas most dazzling natural resources? Well, wonder no more as this months Reader Case Study addresses the questions of two real life rangers on how best to allocate their savings now that theyre debt free (hooray!). Case Studies are financial and life dilemmas that a reader of Frugalwoods sends to me requesting that Frugalwoods nation weigh. Then, Frugalwoods nation (thats you! reads through their situation and provides advice, encouragement, insight, and feedback in the comments section. For write an example, check out last months case study. I also provide updates from our Case Study subjects at the bottom of each Case Study several weeks/months after their story is featured. To see what past Case Study participants have decided to do, check out the. Case Study section and scroll to the bottom of the individual posts.