Episode 146: We’re looking at 2019 in review and taking a look at what’s ahead for 2020. Tune in to see what exciting things are next for The 2 Frugal Dudes Community.
Kevin’s 2019 Goals and Accomplishments
Kevin had a lot of success in 2019. He fully funded both his and his wife’s IRA without much trouble.
Kevin also accomplished his goal of creating a 6-month emergency fund, that would cover six months of Kevin not working, including all expenses. He moved half of the longer-term emergency fund to his Wealthfront account to take advantage of the higher interest rate.
One of Kevin’s 2019 goals was to put a dent in the mortgage. In January 2019, there was $215,000 left on the mortgage. Now it’s down to $202,000 reduction. This caused a shift of 45% principle payments to 55% interest, now it’s 49% principle to 51% interest. This cut off two years of mortgage payments and saved about $14,000 in interest saved over the duration of the mortgage.
The goal in 2020 is to get that balance under $150,000.
Sean’s 2019 Goals and Accomplishments
In 2019, Sean was able to maximize his 401K, IRA, and HSA early in the year. The next big project was buying a house in Gulf Shores, which finalized in November.
Unfortunately, the divorce put investing goals on hold. On the bright side, the steps Sean had taken before means that he will be stuck in the status quo rather than having to start over from scratch financially.
In 2020, the goal is to finalize the divorce and get back on track and look ahead, trying some new entrepreneurial opportunities.
2 Frugal Dudes 2019 In Review and the 2020 Vision
It’s been a great year for the podcast. In 2018 we had 153,000 downloads, which is in the top 15% of the industry. In 2019, we had just under 170,000 downloads including the period during the summer when we took a couple of months off! That’s thanks to our listeners like you!
Our 2020 goal is to hit 200,000 downloads.
We also held our first summit in the spring, which went hand-in-hand with incorporating 2 Frugal Dudes as a business. The summit was a great experience overall but might be something that we look at every other year going forward.
The Where Our Money Went Series also started this year, which everyone seems to love. We record these live on Fridays in our Facebook group, so don’t forget to tune in!