So now I have to get on with the business of planning my 2008 budget, which is a little challenging to do since I need to account for taxes. I do know the following:
- Health care (medical plus HSA contribution) will cost me $808 (pre-tax) in 2008. That's up from $600 for 2007.
- I will continue to contribute 20% of my gross annual income to my 401k. In 2008 that will be $10,000 (dang...), compared to $9,000 in 2007.
- My monthly train pass is likely to go up by 10% in 2008 to $1,087.08, compared to $988.20 for 2007.
- I will begin funding my Roth IRA again in full after taking a, oh geez, a 6 or 7 year break? I will max out that contribution to the tune of $5,000 after taxes in 2008.
- After getting my three-month emergency fund completed, I plan to fund my health care fund at $1,500. This covers the deductible, hospital admission copay, and a couple hundred bucks extra for whatever. We're talking health care here, I'm sure that extra cash will find a way to be spent.
- Going back to the emergency fund. Three months is the bare minimum, I'd like to get it up to six months, so that means an additional $3,600.
- I need a new computer. Bad. I'm willing to keep this one until Spring 2009. By then I'd like to have at least $7,000 for a new machine. Pricey, yes, but I need a high-performance machine and those cost a pretty penny.
But for now, I'm breathing easier now that I know I'll be making better money next year and be able to fun my most important financial goals.