WIR Net Worth Board

[Rukh O'Rorke]

Nov 3, 2021 17:39:21 GMT -5 minnesotapaintlady said:

$804,513

woot! woot!


Party at MPL's this weekend!!

[Rukh O'Rorke]

Thank you Mr. Market!!!

[saveinla]

Nov 3, 2021 17:39:21 GMT -5 minnesotapaintlady said:

$804,513

Congrats minnesotapaintlady.

I have been putting in more money into my 401K, but in Roth and after tax money this year. I usually max my 401K, but this year I also decided to max my catch up contribution, but in my Roth 401K. After going through this thread and my 401K plan - I am also adding a small amount (5%) to my after tax contribution. I hope they still give us a bonus this year, so after that I will move my after tax contributions to a Roth (penalty is no matching 401K contribution for 6 months) to see how that works. 

Just to complete the picture, I have also been contributing to a taxable account this year and just 2 days ago, contributed the limit for myself in an ibond. 

I am thinking of completely switching my 401K contributions to Roth, as it is heavily weighted in pretax contributions - any suggestions or advice? TIA. I dont have a pension and want to retire anytime after 55. The only debt we have is a mortgage of 325K. 

[CCL]

Check with your 401k plan and see if they will allow penalty-free withdrawals at 55 once you retire. If so, you can set up periodic withdrawals to replace a portion of your income.

What's the interest rate on your mortgage? If you can find a better rate, maybe refinance?

[saveinla]

Nov 4, 2021 18:21:18 GMT -5 CCL said:

Check with your 401k plan and see if they will allow penalty-free withdrawals at 55 once you retire. If so, you can set up periodic withdrawals to replace a portion of your income.

What's the interest rate on your mortgage? If you can find a better rate, maybe refinance?

Thank you. I will check on that. I refinanced my mortgage to a 20 year 2.99 rate. I just got an email saying that I can lower it to 2.5 - I have to look at the numbers and see if it makes sense.

[tcu2003]

I realized I hadn't posted my October 2021 update, so here it is:


ASSETS:

Checking/Savings: $158,393
House: $512.7k
Retirement: $1.98M
Brokerage: $5.7k
529s: $76.1k
Company Stock: $214.5k

DEBTS:
Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $175k 

Total NW: $2,772,659


As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.

If you've followed my other thread, company stock loan + the company stock above are getting wiped out at the end of this month or beginning of next, and I have to figure out where to put the cash I'm going to receive. 

[minnesotapaintlady]

tcu2003 - take the vacation...take ALL the vacations.  I don't regret a nickel I spent on our National Park tour this past June.

[tcu2003]

Nov 5, 2021 9:29:00 GMT -5 minnesotapaintlady said:

tcu2003 - take the vacation...take ALL the vacations.  I don't regret a nickel I spent on our National Park tour this past June.

LOL - sitting in my hotel room on mute on a work call, I just put the plane tickets on hold for Grand Canyon over spring break! :-) 

And I'm trying to look at Yellowstone in park lodging availability over the summer because we're pretty flexible on dates, but my crappy hotel wifi and that website aren't cooperating, so I'll try again this weekend when I'm home. ;-)

I'm motivated to book some travel!

[minnesotapaintlady]

Nov 5, 2021 10:02:30 GMT -5 tcu2003 said:

Nov 5, 2021 9:29:00 GMT -5 minnesotapaintlady said:

tcu2003 - take the vacation...take ALL the vacations.  I don't regret a nickel I spent on our National Park tour this past June.

LOL - sitting in my hotel room on mute on a work call, I just put the plane tickets on hold for Grand Canyon over spring break! :-) 

And I'm trying to look at Yellowstone in park lodging availability over the summer because we're pretty flexible on dates, but my crappy hotel wifi and that website aren't cooperating, so I'll try again this weekend when I'm home. ;-)

I'm motivated to book some travel!

That website does suck.  I tried putting in just July 2022 and it cranked and cranked for me and I'm on good internet.  I had to restrict it to certain days before it would work.  Maybe they're just having issues right now.

[Lizard Queen]

Nov 5, 2021 9:05:30 GMT -5 tcu2003 said:

I realized I hadn't posted my October 2021 update, so here it is:


ASSETS:

Checking/Savings: $158,393
House: $512.7k
Retirement: $1.98M
Brokerage: $5.7k
529s: $76.1k
Company Stock: $214.5k

DEBTS:
Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $175k 

Total NW: $2,772,659


As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.

If you've followed my other thread, company stock loan + the company stock above are getting wiped out at the end of this month or beginning of next, and I have to figure out where to put the cash I'm going to receive. 

Wait a minute. Your balance for company stock looks to me to be only about $40k, or am I missing something? Imo: travel--ibonds--spend--retirement? 😁

[Rukh O'Rorke]

Nov 4, 2021 12:14:23 GMT -5 saveinla said:

Nov 3, 2021 17:39:21 GMT -5 minnesotapaintlady said:

$804,513

Congrats minnesotapaintlady .

I have been putting in more money into my 401K, but in Roth and after tax money this year. I usually max my 401K, but this year I also decided to max my catch up contribution, but in my Roth 401K. After going through this thread and my 401K plan - I am also adding a small amount (5%) to my after tax contribution. I hope they still give us a bonus this year, so after that I will move my after tax contributions to a Roth (penalty is no matching 401K contribution for 6 months) to see how that works. 

Just to complete the picture, I have also been contributing to a taxable account this year and just 2 days ago, contributed the limit for myself in an ibond. 

I am thinking of completely switching my 401K contributions to Roth, as it is heavily weighted in pretax contributions - any suggestions or advice? TIA. I dont have a pension and want to retire anytime after 55. The only debt we have is a mortgage of 325K. 

I'm wondering the same thing as we have roth 401k too. My 401k and rollovers have gotten so big, I won't be able to keep my income down in retirement for things like the senior property tax freeze.

No sure if that ship has sailed and I just go with it, or try to do something about it.


What happens to company match? does that stay in tax deferred - or do you have to pay taxes on it?

[saveinla]

Nov 5, 2021 11:16:19 GMT -5 Rukh O'Rorke said:

Nov 4, 2021 12:14:23 GMT -5 saveinla said:

Congrats minnesotapaintlady .

I have been putting in more money into my 401K, but in Roth and after tax money this year. I usually max my 401K, but this year I also decided to max my catch up contribution, but in my Roth 401K. After going through this thread and my 401K plan - I am also adding a small amount (5%) to my after tax contribution. I hope they still give us a bonus this year, so after that I will move my after tax contributions to a Roth (penalty is no matching 401K contribution for 6 months) to see how that works. 

Just to complete the picture, I have also been contributing to a taxable account this year and just 2 days ago, contributed the limit for myself in an ibond. 

I am thinking of completely switching my 401K contributions to Roth, as it is heavily weighted in pretax contributions - any suggestions or advice? TIA. I dont have a pension and want to retire anytime after 55. The only debt we have is a mortgage of 325K. 

I'm wondering the same thing as we have roth 401k too. My 401k and rollovers have gotten so big, I won't be able to keep my income down in retirement for things like the senior property tax freeze.

No sure if that ship has sailed and I just go with it, or try to do something about it.


What happens to company match? does that stay in tax deferred - or do you have to pay taxes on it?

From previous Open Enrollment sessions, I was under the impression that company match will always be taxable. We may have to dig that out to see how that will work.

Looking at the amount in my Roth 401K, it is close to 10K even though I have contributed only 3 or 4K. I am thinking if I do a few more years of Roth 401K, I will be in a much better place - currently I am 93% pretax and 7% Roth. I dont think it will help a lot, but given that we dont have to take RMDs until 72, we may have time to slowly convert more.

[Lizard Queen]

Our match is solely in the pretax category, and if you think about it, that makes sense. Otherwise, you may have to pay taxes on something you're not fully vested in yet.

[tcu2003]

Nov 5, 2021 11:11:30 GMT -5 Lizard Queen said:

Nov 5, 2021 9:05:30 GMT -5 tcu2003 said:

I realized I hadn't posted my October 2021 update, so here it is:


ASSETS:

Checking/Savings: $158,393
House: $512.7k
Retirement: $1.98M
Brokerage: $5.7k
529s: $76.1k
Company Stock: $214.5k

DEBTS:
Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $175k 

Total NW: $2,772,659


As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.

If you've followed my other thread, company stock loan + the company stock above are getting wiped out at the end of this month or beginning of next, and I have to figure out where to put the cash I'm going to receive. 

Wait a minute. Your balance for company stock looks to me to be only about $40k, or am I missing something? Imo: travel--ibonds--spend--retirement? 😁

I put in the stock price based on the 3Q stock valuation above. We received the negotiated stock price from the ESOP trustee, and it’s more - so it’ll equal out to a $100k check for me (before taxes). But until all the paperwork gets signed, every i dotted and every t crossed, I’m using the last approved stock valuation. Paranoia at its finest. 😉

[tcu2003]

Nov 5, 2021 11:16:19 GMT -5 Rukh O'Rorke said:

Nov 4, 2021 12:14:23 GMT -5 saveinla said:

Congrats minnesotapaintlady .

I have been putting in more money into my 401K, but in Roth and after tax money this year. I usually max my 401K, but this year I also decided to max my catch up contribution, but in my Roth 401K. After going through this thread and my 401K plan - I am also adding a small amount (5%) to my after tax contribution. I hope they still give us a bonus this year, so after that I will move my after tax contributions to a Roth (penalty is no matching 401K contribution for 6 months) to see how that works. 

Just to complete the picture, I have also been contributing to a taxable account this year and just 2 days ago, contributed the limit for myself in an ibond. 

I am thinking of completely switching my 401K contributions to Roth, as it is heavily weighted in pretax contributions - any suggestions or advice? TIA. I dont have a pension and want to retire anytime after 55. The only debt we have is a mortgage of 325K. 

I'm wondering the same thing as we have roth 401k too. My 401k and rollovers have gotten so big, I won't be able to keep my income down in retirement for things like the senior property tax freeze.

No sure if that ship has sailed and I just go with it, or try to do something about it.


What happens to company match? does that stay in tax deferred - or do you have to pay taxes on it?

Company match has to be pre-tax category.


Right or wrong, DH and I put all of our 401k contributions in the Roth 401k in an attempt to balance things out. Not sure we’ll ever catch up the Roth 401k to the regular 401k for us each, but I wanted options in retirement from where we were going to pull money.

[Rukh O'Rorke]

Nov 5, 2021 11:16:19 GMT -5 Rukh O'Rorke said:

Nov 4, 2021 12:14:23 GMT -5 saveinla said:

Congrats minnesotapaintlady .

I have been putting in more money into my 401K, but in Roth and after tax money this year. I usually max my 401K, but this year I also decided to max my catch up contribution, but in my Roth 401K. After going through this thread and my 401K plan - I am also adding a small amount (5%) to my after tax contribution. I hope they still give us a bonus this year, so after that I will move my after tax contributions to a Roth (penalty is no matching 401K contribution for 6 months) to see how that works. 

Just to complete the picture, I have also been contributing to a taxable account this year and just 2 days ago, contributed the limit for myself in an ibond. 

I am thinking of completely switching my 401K contributions to Roth, as it is heavily weighted in pretax contributions - any suggestions or advice? TIA. I dont have a pension and want to retire anytime after 55. The only debt we have is a mortgage of 325K. 

I'm wondering the same thing as we have roth 401k too. My 401k and rollovers have gotten so big, I won't be able to keep my income down in retirement for things like the senior property tax freeze.

No sure if that ship has sailed and I just go with it, or try to do something about it.


What happens to company match? does that stay in tax deferred - or do you have to pay taxes on it?

I wanted to clarify this, by we I meant my company. the roth is available but I've always taken the pretax option.


But I'm just now starting to ponder the implication of having more or less taxable income in retirement. If it is just the income tax, I wouldn't care overmuch, but now I am starting to research why peole try to keep retirement income lower and it seems there are a ton of benefits, property tax freeze - which I thought was just for seniors, but it is only for seniors with less than 65k in income. Insurance with ACA subsidies or medicare charges, etc. So, while income tax now or later is kind of a wash all these benefits for keeping it lower are looking a bit significant.

But a bird in the hand is also a thing, and saving taxes now is a sure thing vs maybe the landscape changes - like universal health care for all, etc.

[minnesotapaintlady]

LTCG distributions do that to me too. I track everything in Vanguard and when my Fidelity accounts declare a distribution and the share price plummets I freak out almost every time. You'd think after all these years I'd remember that September and December this happens.

[Rukh O'Rorke]

Nov 19, 2021 13:07:01 GMT -5 jenpen said:

Thought this was kind of amusing, but I don't have anyone to share it with, so hope you don't mind me posting it here:

I about had a heart attack when I logged into my Fidelity account before the markets opened this morning.  From the dashboard screen, I see my Roth IRA is down >$30k (>15%)!!!! I'm less than a month into retirement, and that's a whole year's worth of living expenses! WTH??  Go to the positions screen, and quickly identify the culprit: a stock I bought back in March, and that was up by 90% yesterday was now down 75%!  And how could I lose 30k on shares I paid <10k for 

Thankfully, I'd had this same heart attack before, and a quick google search confirmed that a 4-1 stock split was taking effect today (thus the 75% price drop, and # of shares not updated until market open).  Feeling like a total idiot, as I had no idea -- or if I knew, I totally forgot -- this split was happening!

Beware the unexpected stock split, people! It may be good for your pocketbook, but not for your health! 

I'd freak too!

Curious - what stock?

[Rukh O'Rorke]

ugh! you made me look! Tesla is down over 5%. Most stocks in my growth portfolio are down.

I usually prefer not to check on such days.


ETA....couldn't help it I looked! down about 50k today,hopefully tomorrow goes the other way

[Rukh O'Rorke]

Nov 28, 2021 15:31:41 GMT -5 jenpen said:

Nov 23, 2021 13:00:23 GMT -5 Rukh O'Rorke said:

I'd freak too!

Curious - what stock?

ANET -- I just checked and it's still up 23% for the month, despite the past week.  I'm not logging into Fidelity to check anything else, though 

nasdaq is up 2%, ap500 1.5% so not a bad day to check. 

hasn't made up all losses from Friday, but not too bad.

[ners]

November Update

Assets 
Cash            19,970.19
Retirement 186,799.51
House          80,000.00
Car               3,100.00
Stock             7,252.44
HSA               5,896.60

Total Assets 303,018.74

Liabilities


Mortgage       53,403.76
Helco             10,625.60
Car                  4,762.22
Total Liabilities 68,791.58


Net Worth       $234,227.16


Net Worth down by around 3400.00 for the month.  Still up over 27000.00 for the year.

[Rukh O'Rorke]

Nov 30, 2021 22:43:42 GMT -5 ners said:

November Update

Assets 
Cash            19,970.19
Retirement 186,799.51

+++++House          80,000.00
Car               3,100.00
Stock             7,252.44
HSA               5,896.60

Total Assets 303,018.74

Liabilities


Mortgage       53,403.76
Helco             10,625.60
Car                  4,762.22
Total Liabilities 68,791.58


Net Worth       $234,227.16


Net Worth down by around 3400.00 for the month.  Still up over 27000.00 for the year.

Everyone is down a bit at the moment. We need to keep the faith, and keep saving/investing .

[movinonup]

Hello everyone.
Mr. Market giveth, and Mr. Market taketh away.  Last month wasn't good to me, though it's not as bad as it seems.  I used a fair amount of cash to pay down credit card debt and some of what I owe my contractor.  I also added my parent plus loan to my student loan total, so that was roughly $10k in additional debt.  I am very aggressively invested in stock.  Since I have a pension waiting for me when I retire, it seems to make sense to be heavily weighted in stocks.  The only problem is that when the market goes down, my investments drop a bit.  Here's hoping for a strong Santa Claus rally through the end of the year.
-movinonup

Assets	12/02/2021	11/01/2021
Cash	$219,053.88	$261,896.30
Car	$10,000.00	$10,000.00
House	$466,800.00	$467,500.00
Retirement Accounts	$952,422.51	$975,163.75
Non-Retirement Accounts	$114,736.47	$117,640.78
Total Assets	$1,763,012.86	$1,832,200.83
Liabilities
Revolving Credit	$33,420.93	$37,805.47
Mortgage	$535,441.42	$536,357.88
Student Loans	$15,447.41	$5,145.16
Other Debts	$276,563.60	$328,295.44
Total Liabilities	$860,873.36	$907,603.95
Net Worth	$902,139.50	$924,596.88

[Rukh O'Rorke]

Dec 2, 2021 19:59:35 GMT -5 movinonup said:

Hello everyone.
Mr. Market giveth, and Mr. Market taketh away.  Last month wasn't good to me, though it's not as bad as it seems.  I used a fair amount of cash to pay down credit card debt and some of what I owe my contractor.  I also added my parent plus loan to my student loan total, so that was roughly $10k in additional debt.  I am very aggressively invested in stock.  Since I have a pension waiting for me when I retire, it seems to make sense to be heavily weighted in stocks.  The only problem is that when the market goes down, my investments drop a bit.  Here's hoping for a strong Santa Claus rally through the end of the year.
-movinonup

Assets	12/02/2021	11/01/2021
Cash	$219,053.88	$261,896.30
Car	$10,000.00	$10,000.00
House	$466,800.00	$467,500.00
Retirement Accounts	$952,422.51	$975,163.75
Non-Retirement Accounts	$114,736.47	$117,640.78
Total Assets	$1,763,012.86	$1,832,200.83
Liabilities
Revolving Credit	$33,420.93	$37,805.47
Mortgage	$535,441.42	$536,357.88
Student Loans	$15,447.41	$5,145.16
Other Debts	$276,563.60	$328,295.44
Total Liabilities	$860,873.36	$907,603.95
Net Worth	$902,139.50	$924,596.88

looks like another bad day on wall street, at least it's friday....

[Rukh O'Rorke]

I'm down about 100k today, and no longer toting multimillionaire status. Down to $1,961,552.36. It's still much more than I imagined I'd have right now a year or two ago.


but, not gonna lie! It hurts.



Guess it's a good thing I didn't quit already. Even if it pops up soon, the worry and second guessing would be an agony this weekend.



If it doesn't pop up soon, well, I'll have to chew on that for a while and see what I think about my plans......


as an aside, I just yesterday plugged my new shiny numbers into a retirement simulator and got 100% success rate. And I was wondering what I need to wait for. Apparently, this....

[minnesotapaintlady]

I calculated this all on Wednesday and forgot to post.  Not as fun to type it out when it's down I guess. 

Mortgage - $80,473
CC debt - $674

Total Debt $81,147

Cash and Savings - $53,707
529s - $69,550
Retirement - $786,377
House - $300,000

Total Assets $1,209,634

Net Worth $1,128,487 (decrease of $8,089 since 11/1/21)

[tcu2003]

Here is my November 2021 update:




ASSETS:

Checking/Savings: $180,794
House: $512.7k
Retirement: $1.95M
Brokerage: $5.6k
529s: $76.6k
Company Stock: $214.5k


DEBTS:

Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $175k


Total NW: $2,763,161


As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.

The ESOP happened, and closed 11/30, but the cash was pending in my account, so I'll update in December with the adds from the stock sale/wiping out my company stock and the debt I had on it. We also have a meeting with a financial planner in a couple of weeks, so hoping that gives me so clarity on what I might want to do with our extra cash. 

[tcu2003]

Updated our NW tonight, which clearly means I have nothing better to do on NYE... 

Here is my December 2021 update:

ASSETS:

Checking/Savings: $271,653
House: $512,700
Retirement: $2,004,394
Brokerage: $5,907
529s: $83,334k
Company Stock: $0

DEBTS:

Company Stock Loan (to shareholder I'm buying stock from, at 0.52% for 7 years): $0


Total NW: $2,877,989

As usual, the list above excludes our cars, which are worth around $30k combined, but I leave them out because we're unlikely to sell, and need them to get to/from work, kids schools, etc. in the land of suburbia.

The ESOP happened, closed 11/30, and cash is in our account, so my company stock is now $0 as is my debt, and my cash went way up. For now, it's sitting there until DH and I decide what we want to do with it. At the very least, I'll fund our backdoor Roth IRAs in January, and I might go ahead and bump our 401k contributions way up to max those early (DH and I work for the same company, and they don't put in the company match until February or March of the following year, so if we max early, it's fine - we'll still get the full matching amounts). 

For anyone who read some of my earlier posts, I did purchase plane tickets to Phoenix over Spring Break to visit the Grand Canyon (and Saguaro and whatever that other National Park in Arizona is - forgot the name and I'm too lazy right now to go look it up), and plane tickets to go to Grand Tetons and Yellowstone this summer. I have rental cars for both places, and lodging mostly figured out for Yellowstone/Tetons (including 1 night at Old Faithful Inn), but only a couple of nights figured out for our Arizona trip, so I need to figure out the rest. 

[buystoys]

Oct 1, 2021 6:26:06 GMT -5 buystoys said:

Jul 1, 2021 15:17:47 GMT -5 buystoys said:

Ages: 57/64

Retired on disability

	Dec 31, 2020	Mar 30, 2021	Jun 30, 2021	Sep 30, 2021	Dec 31, 2021
IRA/Roth	$1016K	$1021K	$1087K	$1087K	$1158K
Cash	$86K	$100K	$98K	$82K	$82K
House value	$165K	$209K	$209K	$209K	$209K
Rental value	$100K	$100K	$100K	$100K	$100K
House Mortgage	$-80K	$-78K	$-83k	$-82K	$-82K
Total	$1.287m	$1.352m	$1.412M	$1.396m	$1.467m

DH pension: $12.5k
DH SSDI: $21k
Me SSDI: $30k

I'm not increasing the house or rental value even though Zillow and Realtor.com both have them as worth more.  As you can see, all the increase is from the stock market.  We will receive SSDI increases in 2022, but no increase in DH's pension.

[minnesotapaintlady]

Stepping into the new year on a good note!  

Mortgage - $80,156
CC debt - $0

Total Debt $80,156

Cash and Savings - $53,230
529s - $70,475
Retirement - $821,344
House - $300,000

Total Assets $1,245,049

Net Worth $1,164,893


Increase of $191,382 since January of 2021!!  Holy cow!  It's really going to suck seeing numbers that big in the negative if the market turns.    I trudged through the 2000 and 2008 crashes without being too bent out of shape because 20-30% of 100K?  Meh.