WIR Net Worth Board

[Rukh O'Rorke]

Apr 15, 2022 14:40:15 GMT -5 tcu2003 said:

In other tax related net worth news, we got the email from the tax firm this week, and owe an additional $24k to federal and $4k to state. Ouch. I knew it was coming due to the company stock sale to become an ESOP, but still. Ouch. And realizing that due to timing of when I purchased shares and when the ESOP closed, I'm hit with short term capital gains instead of long term capital gains. And pretty sure this pushed us from the 24% to the 32% marginal bracket. Blergh.

Those big bills hurt, and I never had anything close to that.

Sometimes you just gotta bite the bullet and move forward.

[tcu2003]

Apr 15, 2022 15:00:59 GMT -5 Rukh O'Rorke said:

Apr 15, 2022 14:40:15 GMT -5 tcu2003 said:

In other tax related net worth news, we got the email from the tax firm this week, and owe an additional $24k to federal and $4k to state. Ouch. I knew it was coming due to the company stock sale to become an ESOP, but still. Ouch. And realizing that due to timing of when I purchased shares and when the ESOP closed, I'm hit with short term capital gains instead of long term capital gains. And pretty sure this pushed us from the 24% to the 32% marginal bracket. Blergh.

Those big bills hurt, and I never had anything close to that.

Sometimes you just gotta bite the bullet and move forward.

Yep. And I definitely recognize these are total first world problems. And I’d rather have this problem than not have it. So on Monday I will dutifully mail my tax check off. And probably complain to DH some more. 😂🤣

[Value Buy]

I silently follow ths thread.
Have a couple of questions.
Some of you list "cash" and it sems to be a large amount.
Same for" cash/checking"

I would think this might be in a money fund?
I do not understand why such large quantities of money in these groups. It is just easier to not list the various accounts holding this much money?
Thanks

[minnesotapaintlady]

Apr 18, 2022 10:04:32 GMT -5 Value Buy said:

I silently follow ths thread.
Have a couple of questions.
Some of you list "cash" and it sems to be a large amount.
Same for" cash/checking"

I would think this might be in a money fund?
I do not understand why such large quantities of money in these groups. It is just easier to not list the various accounts holding this much money?
Thanks

I just don't like breaking down all the accounts outside of retirement/college savings.  I do in my spreadsheet that totals them, but combine for simplicity here.  So, for my last update I put:

Cash and Savings - $59,434

It's breakdown is this.

$13,079 - Credit Union Checking (6K of that is needed soon for property taxes and youngest son's tuition)
$48 - Credit Union Savings
$1519 - Wells Fargo Checking
$3685 - HSA (cash portion with HSA Bank, the HSA funds I transferred to Fidelity and invested I lump with retirement savings)
$5622 - Vanguard Money Market (building up to fund next years Roth)

$10,245 - Vanguard Taxable account - (VTI)

$25,236 - I Bonds

[ners]

My cash is a combination of savings accounts and short-term CD's.   I do what helps me sleep at night and if having a larger cash balance helps me sleep so be it.

[tcu2003]

My cash is the sum of my savings and checking accounts - basically what I can quickly get my hands on. The accounts are listed out individually in my tracking spreadsheet, but easier to just lost one total number here.

[buystoys]

Apr 18, 2022 10:04:32 GMT -5 Value Buy said:

I silently follow ths thread.
Have a couple of questions.
Some of you list "cash" and it sems to be a large amount.
Same for" cash/checking"

I would think this might be in a money fund?
I do not understand why such large quantities of money in these groups. It is just easier to not list the various accounts holding this much money?
Thanks

My cash is actual cash in savings and checking accounts.  We keep a set amount for rental repairs, another amount for home projects, and a third amount for paying bills through the year.  We only take one IRA distribution in a year.  Our cash bucket has gotten a little over full because we've not spent all of it the last couple of years.  Having said that, it also means we might do another major project this year ahead of schedule, so it would get spent.  That depends on timing and how ambitious we feel. 

I know it's not the optimal break out for our finances, but it allows us to sleep at night knowing that we can skip a couple of years of withdrawals if necessary.

[Value Buy]

Thanks to everyone that explained the cash balances.
I was sort of worried some of you might be hoarders

Due to being retired, our cash on hand is usually counted in hundreds rather than tens of thousands, and I was confused to see how high some of you were in the category.
To me, cash is considered as a small amount to be used in emergencies for the most part, but that is just me. The days of paying cash at the gas pump is gone for us, so no need for a lot of cash.
Now back to silently lurking here.

[azucena]

The majority of my balance is sitting in cold, hard cash in a bank savings account. So I'll proudly take your hoarder label and warn that WIR has always been a judgment free zone so keep it that way.

[azucena]

VB - I wasn't going to respond to your PM from this morning because I didn't want to give you the satisfaction.  But, you know what, eff that.  I don't need to take your cowardly bullying. I absolutely stand by what I said about keeping WIR as a safe space.  You're on ignore now.

[Rukh O'Rorke]

Apr 18, 2022 10:04:32 GMT -5 Value Buy said:

I silently follow ths thread.
Have a couple of questions.
Some of you list "cash" and it sems to be a large amount.
Same for" cash/checking"

I would think this might be in a money fund?
I do not understand why such large quantities of money in these groups. It is just easier to not list the various accounts holding this much money?
Thanks

ewww - creepy.

[Rukh O'Rorke]

Looks like I'm down 10% today.....and have been sliding the past week anyway, so maybe 15% for the past week.







not like this.....

not like this....

[minnesotapaintlady]

Apr 26, 2022 16:20:07 GMT -5 Rukh O'Rorke said:

Looks like I'm down 10% today.....and have been sliding the past week anyway, so maybe 15% for the past week.







not like this.....

not like this....

But those I bonds are holding strong!

I'm not really looking forward to updating on Sunday either.  I'd like to just ignore it and not track...maybe look again in December.  LOL  But I've not missed a month for 10 years now.  It's so ingrained in me.

[azucena]

MPL if you're not going to change anything, why add the stress and another to do?  Just my way of thinking about it anyway.

[minnesotapaintlady]

I've become so OCD about my finances that it would stress me just as much to not update my spreadsheet.  In some ways I miss the days when all correspondence from the brokerage firms was via snail mail in the form of quarterly statements that I would throw in a pile unopened.

[countrygirl2]

Looks like about $783k with $138k of that in cash, that is checking and CD's that are NOT 401k or IRA's.

I am assuming replacement value for our house would be its worth?  So about $460k
Rentals on conservative side  RENT from these
House 1 $60k                       $450 a month, if we don't sell will go to $550 a month
PO          $25k                      $415, goes up with next 5 year contract
Farm   2   $80k                     $500 a month
House  3   $50k                     $500 a month
House  4   $70k                     $525 a month
Trailer  5    $5k                      $450 a month

Total      $290k                      Good returns for minimal investment

Motorhome $20k??
2020 Ford Truck $25k?  miles 30k
2018 Chrysler Car $20k? miles 42k
Truck   $8k?
Back hoe        $6k?
Old Ford tract  $5k?

Total $84k

So looks like around     $1,327,000  

I don't normally include vehicles or anything, but did just to see this time.  

We also have a lawn mower that cost $16k, just guessing at $6k or so now, who knows and an old boat about $2k, going to sell it too, so a bit more.

No debt I am 76, hubs is 75

This figure includes any downs in the 401k's and stock, not updated for I bonds for a couple of months, need to do that, I like to see those grow. We have also given son about $200k over the last few years. Most of our increase is in real estate but can we realize it??

[ners]

April update

Not pretty.  Down over 19,000.00 since 12/31/2021.


Cash              21,440.59
Retirement   170,647.96
House            80,000.00
Car                  2,600.00
Stock               6,525.72
HSA               $6,943.67


Total Assets   288,157.94

Liabilities



Mortgage        52,607.63
Helco               9,535.73
Car                  3,731.11


Total Liabilities 65,874.47



Net Worth     $222,283.47

[minnesotapaintlady]

Decided to just get it over with early so I won't have to think about it the rest of the weekend. 

Mortgage - $78,879

CC debt - $2,843 (property taxes on CC to get a sign-up bonus)

Total Debt $81,722

Cash and Savings - $49,426
529s - $63,743
Retirement - $748,040
House - $300,000

Total Assets $1,161,209

Net Worth $1,079,487  (down $68,111 from 4/1)

[tcu2003]

Here is my April 2022 update:

ASSETS:

Checking/Savings: $230,351
House: $512,700
Retirement: $1,683,760
Brokerage: $5,272
529s: $74,059

DEBTS:
$0


Total NW: $2,506,143

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.

We're down about 7.8% over last month. Major factors are the stock market and the giant tax bill I had due to selling of the company stock for the ESOP creation. On the plus side, outside of furniture, we're done with all major expenditures for our basement remodel, so should spend less cash again. 

[countrygirl2]

I hadn't looked at our net worth for a long time either. I never include the houses, cars, and items like that but did this time. Ours is declining and I expect it to continue down as we draw down on assets in retirement. Hubs still talks about going to work but not worrying about him actually doing it. with the rental property it adds enough income for us to be ok. I don't know about selling them, going to try on one.

All you guys are doing great, wish I could have stayed in the work force a lot longer but life happens.

[Rukh O'Rorke]

ok - if you all are being brave, I will try to too, but given my investments, I know this checkin is going to hurt me a lot more than it hurts you! I will try to take it so you all can feel better by comparison, or even just schadenfeude!

	April 2 2021	Dec 31/Jan 1st	Feb 3 2021	Mar 5 2022	April 1 2022	May 1 2022
401k and rollovers	$1,304,844	1,754,854	1,530,246	1,326,083	$1,629,256	1,304,346
Roth	$197,893	224,473	196,767	180,945	213,577	168,663
I-bonds/TIPS		10,020	15,057	16,099	17,142	17,418
Other: EF, ESOP, HSA	$49,159	40,828	42,045	38,121	40,640	30,167
Total	$1,551,896	2,030,175	$1,784,115	$1,561,248	$1,900,615	1,520,594

So in April, up 340k! It was up 22%
May, down about 380k! It is down 20%   More considering I put about 5k in... 

So, not quite as painful as I anticipated. Not too far down from where I was in April of 2021, so no point in kvetching about it. 
Where will we be June 1st? I wouldn't bet a dollar on any outcome! Could be anything!!

For the 10th or so time: Good thing I didn't quit the day job on the tesla upswing around 1st of the year!  Maybe next time

In more mundane observations...will be grouping my TIPS/Ibonds together. Wondering if this is a good time to invest my HSA monies...have not considered that as yet - seems a good time to get a little bit more money into the market at the somewhat depressed prices. Do we have further to drop? Seems likely. Forgot I had another TIPS purchase go through. this was for a 5 year security and I would have put more money towards it if I had remembered it was going through....but it was just that 100 I had scheduled a while ago. 

[ners]

Rukh O'Rorke Decided to post a comparison like yours.

I guess I will just keep plugging along.

                      Apr-21             July-21             Oct-21             Jan-22                 Aor-22
Cash            19,672.92         19,784.14          19,908.10       20,071.86             21,440.59
Retirement   182,639.32      187,554.55        190,569.65      182,816.80          170,647.96
House            80,000.00        80,000.00          80,000.00        80,000.00           80,000.00
Car                  3,850.00          3,550.00           3,200.00          2,900.00             2,600.00
Stock               6,922.11          7,119.92           7,305.86          7,108.28             6,525.72
HSA                 6,109.58          5,074.96           5,939.26          6,716.97              6,943.67



Total Assets   299,193.93      303,083.57       306,922.87       299,613.91         288,157.94

I do not change the value of my house.  I have no idea what the actual value is since I know it will need work to be sold or it will be sold at a deep discount.  I reduce my car by 100.00 a month.  Once it gets to 1000.00.  I will start reducing the value by 50.00 a month.

[azucena]

Not gonna look, you can't make me.

[tcu2003]

May 2, 2022 11:24:45 GMT -5 azucena said:

Not gonna look, you can't make me.

Do it!! You know you want to know already! 😂🤣

[azucena]

Nope, not gonna.  I don't need that kind of stress when I'm 17 yrs away from my retirement goal, and I'm not going to change course based on what I see.

Plus, I've shoveled $20k into the market YTD (401k set to max, co match, AT contributions) - doubly depressing to see the loss.

[tcu2003]

I get that. Luckily this doesn’t stress me out since we’re so far from retirement, though it’s definitely a little depressing. DH’s 401k just seems so down - mine is as well, but his is a larger balance, so his overall drop number is greater; but more or less we’re each down the same percentage. After updating over the weekend, it did cause me to make another contribution to the kids’ 529 accounts, and finally open a taxable account, so I’ll take those as wins.

[Rukh O'Rorke]

May 3, 2022 10:32:50 GMT -5 azucena said:

Nope, not gonna.  I don't need that kind of stress when I'm 17 yrs away from my retirement goal, and I'm not going to change course based on what I see.

Plus, I've shoveled $20k into the market YTD (401k set to max, co match, AT contributions) - doubly depressing to see the loss.

gotta be happy for downturns when you're that far away

[Rukh O'Rorke]

[buystoys]

All I can say is thank goodness I only update my numbers on a quarterly basis.  I may not be saying that at the end of June.  Oh, well!  I've been expecting a pull back for a while now, so I'm not surprised to finally see it.

[Ombud]

I'll jump in. Not as impressive as others but it is what it is. Redid with only my Schwab account:

Previous	N/A 1st post
Brokerage	380,053
IRA	394,395
Roth	.89,547
Schwab checking	.11,097
Total	875,093
Difference	YTD -15%🙄