Ava
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Joined: Jan 30, 2011 12:23:55 GMT -5
Posts: 4,298
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Post by Ava on Apr 6, 2024 12:18:56 GMT -5
Update for April 6, 2024 Assets Cash $6,400 Car $15,115 per Kelley Blue Book Condo $119,600 per Zillow Roth IRA $42,572 Traditional IRA $49,533 401K $260,221 HSA $37,811 Total Assets $531,252 Liabilities Credit Card $3,254- This is a Fidelity Visa card that I use for everything and it gives 2% back. Credit Card $1,910- New credit card with 0% interest until May 2025. Car Loan- $5,429 Mortgage- $48,036 Student Loan- $77,786 Total Liabilities- $136,415 Total Net Worth $394,837 Prior Net Worth $293,078- October 2023 It makes me very happy to see my net worth increased by $100,000 in the last five months. This is a very difficult financial time for me, as I feel inflation is eating me alive. I was pondering the other day that if my income remains stagnant I have two options in front of me; reduce retirement contributions or find a part time job. None of those options sound appealing to me. It took a lot of sacrifice to be able to max out retirement account contributions. It's an achievement and I don't want to stop. On the other hand, a part time job is not attractive for a couple of reasons. One, my mother comes over for the summer and I travel for a month during winter. So a part time job is difficult to maintain if you're taking off from June to September and then from December to January. Two, I'm already exhausted and I can barely keep up with work, house, health, social life as is. Adding a part time job would only lower my quality of life. Things are so bad right now that I had to get a second credit card to be able to buy my plane ticket to Uruguay for December. It's a 0% card until May 2025. Monthly payment is $25. It doesn't sit well with me that I had to get this card this year in order to get my airplane ticket. Until now I was able to cash flow it every year. I'm looking for a new job but the salaries I see posted are not higher than what I make. I know I'm underpaid because we just got a new team member one level below me, and they had to increase the paygrade to my grade in order to attract a good candidate. Manager has already said I'm not promotable and yearly raises are 2.7%. I need to ramp up my job search and see what I get offered in the open market. Sorry for the long novel. Anyway, glad my net worth is increasing. Nothing has been given to me, everything I have has been obtained through work, saving, and investing. Some good luck mixed in, such as reasonable intelligence that allowed me to study and learn, reasonable good health that allows me to work every day, good timing buying real estate, good luck finding jobs. I was lucky I bought a condo when I did, good timing. I got good jobs until now. Not high pay but good benefits, good teams, flexibility, etc. Until now that current job has become dead end and toxic. Anyway, I'll keep plugging along.  |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Apr 6, 2024 14:00:02 GMT -5
Update for April 6, 2024 Assets Cash $6,400 Car $15,115 per Kelley Blue Book Condo $119,600 per Zillow Roth IRA $42,572 Traditional IRA $49,533 401K $260,221 HSA $37,811 Total Assets $531,252 Liabilities Credit Card $3,254- This is a Fidelity Visa card that I use for everything and it gives 2% back. Credit Card $1,910- New credit card with 0% interest until May 2025. Car Loan- $5,429 Mortgage- $48,036 Student Loan- $77,786 Total Liabilities- $136,415 Total Net Worth $394,837 Prior Net Worth $293,078- October 2023 It makes me very happy to see my net worth increased by $100,000 in the last five months. This is a very difficult financial time for me, as I feel inflation is eating me alive. I was pondering the other day that if my income remains stagnant I have two options in front of me; reduce retirement contributions or find a part time job. None of those options sound appealing to me. It took a lot of sacrifice to be able to max out retirement account contributions. It's an achievement and I don't want to stop. On the other hand, a part time job is not attractive for a couple of reasons. One, my mother comes over for the summer and I travel for a month during winter. So a part time job is difficult to maintain if you're taking off from June to September and then from December to January. Two, I'm already exhausted and I can barely keep up with work, house, health, social life as is. Adding a part time job would only lower my quality of life. Things are so bad right now that I had to get a second credit card to be able to buy my plane ticket to Uruguay for December. It's a 0% card until May 2025. Monthly payment is $25. It doesn't sit well with me that I had to get this card this year in order to get my airplane ticket. Until now I was able to cash flow it every year. I'm looking for a new job but the salaries I see posted are not higher than what I make. I know I'm underpaid because we just got a new team member one level below me, and they had to increase the paygrade to my grade in order to attract a good candidate. Manager has already said I'm not promotable and yearly raises are 2.7%. I need to ramp up my job search and see what I get offered in the open market. Sorry for the long novel. Anyway, glad my net worth is increasing. Nothing has been given to me, everything I have has been obtained through work, saving, and investing. Some good luck mixed in, such as reasonable intelligence that allowed me to study and learn, reasonable good health that allows me to work every day, good timing buying real estate, good luck finding jobs. I was lucky I bought a condo when I did, good timing. I got good jobs until now. Not high pay but good benefits, good teams, flexibility, etc. Until now that current job has become dead end and toxic. Anyway, I'll keep plugging along. You're doing gret Ava! It is hard, but you've got the heavy lifting done and the market is working for you now. Keep it up, keep contributing as much as you can and just keep going! I'm feeling the pressures too. But trying to focus on the positives and/or ignore the negatives. And keep going, lol! |
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Ava
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Joined: Jan 30, 2011 12:23:55 GMT -5
Posts: 4,298
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Post by Ava on Apr 8, 2024 21:54:12 GMT -5
Thanks, Rukh O'Rorke. It's not easy with inflation and stagnant salary, but I start to see the results. I do not want to reduce contributions. Right now, money in retirement accounts is roughly $350,000. It took me 10 years to get there. At least I got motivated enough on Saturday to go to the library and fill out a bunch of job applications. |
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Post by minnesotapaintlady on Apr 12, 2024 10:26:28 GMT -5
I got spotlighted on Ten Wilsons! |
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azucena
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Post by azucena on Apr 12, 2024 11:24:55 GMT -5
I got spotlighted on Ten Wilsons! Wow you're famous and now I can say I knew you when ROFL. Pretty cool story and definitely a case study in compounding. |
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Post by minnesotapaintlady on Apr 12, 2024 12:43:30 GMT -5
I got spotlighted on Ten Wilsons! Wow you're famous and now I can say I knew you when ROFL. Pretty cool story and definitely a case study in compounding. Famous among a handful of NW nerds. ROFL I didn't even know about that blog until someone messaged me that I was in there. |
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midjd
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Your Money Admin
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Post by midjd on Apr 12, 2024 16:46:59 GMT -5
Count me among those nerds! I’m appreciating NWShare even more now that Intuit killed Mint (RIP 13 years of detailed transactions). Very cool to be featured!
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jerseygirl
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Post by jerseygirl on Apr 12, 2024 17:02:57 GMT -5
Fabulous MPL!! Lots of hard work and attention to income and deductions went into that . Not just compounding
Well done!
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dannylion
Junior Associate
Gravity is a harsh mistress
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Posts: 5,220
Location: Miles over the madness horizon and accelerating
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Post by dannylion on Apr 12, 2024 20:30:57 GMT -5
Congratulations, MPL! Well done!
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ners
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Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,647
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Post by ners on Apr 30, 2024 19:48:27 GMT -5
Update
Took a step backwards. Retirement is just a bit above 200,000.00. I spent a little bit on new eyeglasses. Oh well hopefully things will move in the right direction next month.
Assets
Cash 26,583.90
Retirement 200,110.63
House 80,000.00
Car 1,100.00
Stock 8,154.29
HSA $6,599.33
Total Assets 322,548.15
Liabilities
Mortgage 48,046.29
Helco
Car
Total Liabilities 48,046.29
Net Worth $274,501.86
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Rukh O'Rorke
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Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on May 1, 2024 18:36:29 GMT -5
Down a bit for me unfortunately..... Update.....
| 08.31.2023 | 12.31.2023 | 02.01.2024 | 03.01.2024 | 03.30.2024 | 05.01.2024 | | 401k and rollovers | 1,528,917 | 1,548,069 | 1,466,132
| 1,584,139
| 1,553,720
| 1,494,750
| | Roth | 152,845 | 146,465
| 111,888
| 118,432
| 105,043
| 107,175
| | I-bonds | 34,754 | 35,395
| 35,491
| 35,594
| 35,594
| 35,808 | | Notes, Bills, TIPS | 6,500 | 4,500 | 4,500 | 4,500
| 4,500 | 4,500 | | Other: EF, ESOP, HSA | 7,445 | 6,815 | -8,619
| -5,729
| -17,096 | -22,902
| | Total | 1,730,961 | 1,741,244 | 1,609,391
| 1,736,935
| 1,681,761
| 1,619,331
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Down a bit more, as is the market. Now I feel quite smug with my larger cash positions.....  Aside from that bit of smug, needed to borrow money to make bills this week. Hopefully very temproary as I wait on an RI side gig check to come through. But so many bills have increased by so much, I'm going to have to change something. Electric for example is like 2-3x what it was since 2024 started. A lot of taxes and fees seem to have been added on so it isn't usage. Been moving forward with my house reno plans, but right now I am questioning how I could even manage it. My ace in the hole was to drop 401k contributions just to get the match and use the extra for house upgrades/payment on a loan, but now it is looking like I am going to need to lower 401k just to make monthly bills, so where would reno money come from? Even just to finance it all and to pay on a loan may not be there. Been making adjustments and cutting costs as much as I can this past month or two, but honestly the month-month is looking really ugly. No more side gigs on the books until aug/sept and then just 3 smaller projects for the end of the year. Right now waiting on 2 RI checks, dayjob bonus (which is nice but not a whole lot, less than a paycheck) and to see what my raise this year will be. Need to recoup a bit - financially as well as emotionally. Maybe I can look for more side gigs? not sure how but will think on it some. |
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Ombud
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Joined: Jan 14, 2013 23:21:04 GMT -5
Posts: 7,602
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Post by Ombud on May 2, 2024 19:34:21 GMT -5
| Schwab Accts: | % | | February 29, 2024: | 1,099,967
| | Stocks | 963,001
| 84%
| | Fixed Income | 180,178
| 16%
| | Current | 1,143,179
| | Difference | +43,212
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Well it didn't take long to reverse itself: | Schwab Accts: | % | | Feb 29, 2023: | 1,143,179
| | Current | 1,096,127
| | Difference | −47,052
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azucena
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Post by azucena on May 2, 2024 21:22:54 GMT -5
You guys posting losses gives me the slight heads up about how mine might be looking without the pain of seeing my real own numbers decrease. I only check at yearend so keep up the good work lol.
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tcu2003
Senior Member
Joined: Dec 31, 2010 15:24:01 GMT -5
Posts: 4,958
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Post by tcu2003 on May 8, 2024 22:23:33 GMT -5
April 2024 update:
ASSETS:
Checking/Savings: $245,970
House: $675,000
Retirement: $2,258,664
Brokerage: $86,708
529s: $127,634
DEBTS:
$0
Total NW: $3,393,976
As usual, the list above excludes our cars, which are worth around $28k 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 almost 3% this month. That is mostly retirement/brokerage/529 market losses.
On the plus side, we've funded the kids' 529s for the year (we fund up to what we get a state income tax credit for), and both Roth IRAs, so that's a win.
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Ombud
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Post by Ombud on May 31, 2024 14:13:05 GMT -5
I'm claiming whiplash 🤑 | Schwab Accts: | % | | May 2nd: | 1,096,127
| | Stocks | 965,393
| 85%
| | Fixed Income | 175,700
| 15%
| | Current | 1,140,793
| | Difference | +44,666
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on Jun 1, 2024 13:03:00 GMT -5
Update.....
| 08.31.2023 | 05.01.2024 | 06.01.2024 | | 401k and rollovers | 1,528,917 | 1,494,750
| 1,605,348
| | Roth | 152,845 | 107,175
| 105,829
| | I-bonds | 34,754 | 35,808 | 35,917
| | Notes, Bills, TIPS | 6,500 | 4,500 | 4,500
| | Other: EF, ESOP, HSA | 7,445 | -22,902
| -12,985
| | Total | 1,730,961 | 1,619,331
| 1,738,608
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stocks/cash is 86%/14% But that includes ibonds and treasuries, and a lot of HSA money. I do want to invest the HSA, and not count ibonds as my cash for retirement. That leaves me with 178k of cash in my 401k bucket. Would like to get that to 300k before retiement. Still need to work on debt, might start more detailed tracking on that this weekend. Maybe! Very rainy out so gardening is out.....so either spreadsheets or cleaning, lol! Will dither away on the internet with more coffee for a bit though! |
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ners
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Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,647
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Post by ners on Jun 2, 2024 10:19:10 GMT -5
As of May 31, 2024
Assets
Cash 26,652.91
Retirement 203,223.65
House 80,000.00
Car 1,050.00
Stock 8,350.72
HSA 6,543.98
Total Assets 325,821.26
Liabilities
Mortgage 48,046.29
Total Liabilities 48,046.29
Net Worth 277,774.97
Another month in the correct direction.
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Annie7
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Joined: Dec 22, 2010 8:42:14 GMT -5
Posts: 249
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Post by Annie7 on Jun 3, 2024 16:09:35 GMT -5
As of 5/31/2024:
Cash: $84,749.09
Retirements: $1,035,357.91
HSA: $75,896.42
Pension: $121,649.07
Home: 1,001,000
Total Assets: $2,318,652.49
Mortgage: $238,682.24
Net Worth: $2,079,970.25
I feel like this is not realistic since nearly half of my networth is in the value of my home. That seems so fickle. I think I have to work until 60 to retire (currently 53). The retirement calculator at Fidelity also says that I need to work until 60.
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saveinla
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Post by saveinla on Jun 3, 2024 18:00:07 GMT -5
I think Fidelity has changed their target amount, so double check that.
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Annie7
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Post by Annie7 on Jun 4, 2024 13:28:19 GMT -5
I think Fidelity has changed their target amount, so double check that. If this was regarding the Fidelity retirement calculator - yes, I checked both the regular one and their new enhanced one. Both say I am on pace to cover 102% of my expenses in retirement. |
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snapdragon
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Post by snapdragon on Jun 4, 2024 14:40:22 GMT -5
Just yesterday I actually drove and met with my Finance Guy and we talked about things. Still doing really decent and I love my house. But I could not believe when he told me people were spending 100K on brand new vehicles. Actually, taking money out of stock - Ford F350? WTAF!!! There is no way on this green earth I would spend that much on a car. I could possibility see that for a RV or something but not a truck. Then he showed me how much the original Berkshire Hathaway stocks were selling for -- Over 600K per stock! I actually got a bit of a stomach lurch. To say we had a interesting and varied talk was the truth. But I was proud for being able to put more funds into my DAF.  |
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Ombud
Junior Associate
Joined: Jan 14, 2013 23:21:04 GMT -5
Posts: 7,602
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Post by Ombud on Jun 18, 2024 15:07:55 GMT -5
I'm claiming whiplash 🤑 | Schwab Accts: | % | | May 2nd: | 1,096,127
| | Stocks | 965,393
| 85%
| | Fixed Income | 175,700
| 15%
| | Current | 1,140,793
| | Difference | +44,666
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Not a 100k vehicle but just signed a 1000 sq ft patio contract so withdrawing 18k. But at least I'm still up |
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Ombud
Junior Associate
Joined: Jan 14, 2013 23:21:04 GMT -5
Posts: 7,602
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Post by Ombud on Jun 27, 2024 23:29:00 GMT -5
| Schwab Accts: | % | | May 31st: | 1,140,793
| | Stocks | 995,295
| 86%
| | Fixed Income | 158,892
| 14%
| | Current | 1,154,187
| | Difference | +13,394
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I spent $18,022 on the new patio. And $1200 on a laptop for 18F to take to college. She's going to finish the side yard (bark under Native California plants in a mountain cottage pattern) before she goes .... 1st pavers then gardener to remove remaining dead grass then she'll spread bark and I've got 100 bulbs & rhizomes to go in. Will plant several California rock rose and lavender in October. |
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jerseygirl
Junior Associate
Joined: May 13, 2018 7:43:08 GMT -5
Posts: 5,388
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Post by jerseygirl on Jun 28, 2024 11:46:54 GMT -5
| Schwab Accts: | % | | May 31st: | 1,140,793
| | Stocks | 995,295
| 86%
| | Fixed Income | 158,892
| 14%
| | Current | 1,154,187
| | Difference | +13,394
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I spent $18,022 on the new patio. And $1200 on a laptop for 18F to take to college. She's going to finish the side yard (bark under Native California plants in a mountain cottage pattern) before she goes .... 1st pavers then gardener to remove remaining dead grass then she'll spread bark and I've got 100 bulbs & rhizomes to go in. Will plant several California rock rose and lavender in October. That garden will be lovely!! |
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on Jun 29, 2024 12:03:40 GMT -5
Update.....
| 08.31.2023 | 05.01.2024 | 06.01.2024 | 06.29.2024 | | 401k and rollovers | 1,528,917 | 1,494,750
| 1,605,348
| 1,718,654
| | Roth | 152,845 | 107,175
| 105,829
| 116,578
| | I-bonds | 34,754 | 35,808 | 35,917
| 39,017
| | Notes, Bills, TIPS | 6,500 | 4,500 | 4,500
| 4,500
| | Other: EF, ESOP, HSA | 7,445 | -22,902
| -12,985
| -6,849
| | Total | 1,730,961 | 1,619,331
| 1,738,608
| 1,871,899
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A nice month for me! Been on a seesaw of 1.7 and 1.6 since Nov 23, so nice to reach new territory! I think alot of you should be having ATHs this month!!! So start pouring in with those updates!! I'm still a ways away from and ATH due to tesla stock. But still I'm very happy with this month  . And looking forward to vicariously living with every one else's ATH! |
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Post by minnesotapaintlady on Jun 29, 2024 12:08:15 GMT -5
Upped the value on my house for the first time since I started tracking NW from 300K to 350K. After spending 90K on it the past couple months I felt justified in recouping some of it in the value (mainly it was just to make me feel better though. ) Zillow has it at 501K and taxable market value says 444K and neither of those assessments include the additional 10 acre parcel that would sell with it, so I think I'm still safely below what it would actually sell for. Mortgage - $70,295 HELOC - $47,150
Greensky (water mitigation system) - $15,150
Total Debt $132,595Cash and Savings - $20,922 529s - $63,317 Retirement - $1,084,926 House - $350,000 Total Assets $1,519,165Net Worth $1,386,570
I am seriously considering raiding the Roth IRA to pay down the bulk of the HELOC. I have a plan to pay off Greensky by next Mar/Apr, but I can't realistically make any kind of dent in the HELOC without drastically reducing 401K contributions. Due to tax credits at my income level, my marginal tax rate is crazy high (like 30-40%) so as much as I don't want to touch the Roth, reducing the 401K seems like a worse move. Currently the HELOC is at 6.5%, but it will increase to 8.5% in November (unless rates start to drop since it's variable). I'm really only going to be paying interest on it until Greensky is paid off. Greensky is 0% for a year, but the minimum payment is $650/month.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on Jun 29, 2024 12:21:10 GMT -5
Upped the value on my house for the first time since I started tracking NW from 300K to 350K. After spending 90K on it the past couple months I felt justified in recouping some of it in the value (mainly it was just to make me feel better though. ) Zillow has it at 501K and taxable market value says 444K and neither of those assessments include the additional 10 acre parcel that would sell with it, so I think I'm still safely below what it would actually sell for. Mortgage - $70,295 HELOC - $47,150
Greensky (water mitigation system) - $15,150
Total Debt $132,595Cash and Savings - $20,922 529s - $63,317 Retirement - $1,084,926 House - $350,000 Total Assets $1,519,165Net Worth $1,386,570
I am seriously considering raiding the Roth IRA to pay down the bulk of the HELOC. I have a plan to pay off Greensky by next Mar/Apr, but I can't realistically make any kind of dent in the HELOC without drastically reducing 401K contributions. Due to tax credits at my income level, my marginal tax rate is crazy high (like 30-40%) so as much as I don't want to touch the Roth, reducing the 401K seems like a worse move. Currently the HELOC is at 6.5%, but it will increase to 8.5% in November (unless rates start to drop since it's variable). I'm really only going to be paying interest on it until Greensky is paid off. Greensky is 0% for a year, but the minimum payment is $650/month.
Not the Roth!! Anything but the roth!!! |
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Post by minnesotapaintlady on Jun 29, 2024 12:33:50 GMT -5
Upped the value on my house for the first time since I started tracking NW from 300K to 350K. After spending 90K on it the past couple months I felt justified in recouping some of it in the value (mainly it was just to make me feel better though. ) Zillow has it at 501K and taxable market value says 444K and neither of those assessments include the additional 10 acre parcel that would sell with it, so I think I'm still safely below what it would actually sell for. Mortgage - $70,295 HELOC - $47,150
Greensky (water mitigation system) - $15,150
Total Debt $132,595Cash and Savings - $20,922 529s - $63,317 Retirement - $1,084,926 House - $350,000 Total Assets $1,519,165Net Worth $1,386,570
I am seriously considering raiding the Roth IRA to pay down the bulk of the HELOC. I have a plan to pay off Greensky by next Mar/Apr, but I can't realistically make any kind of dent in the HELOC without drastically reducing 401K contributions. Due to tax credits at my income level, my marginal tax rate is crazy high (like 30-40%) so as much as I don't want to touch the Roth, reducing the 401K seems like a worse move. Currently the HELOC is at 6.5%, but it will increase to 8.5% in November (unless rates start to drop since it's variable). I'm really only going to be paying interest on it until Greensky is paid off. Greensky is 0% for a year, but the minimum payment is $650/month.
Not the Roth!! Anything but the roth!!! Ok. WHAT but the Roth then? This is what I have. 856K - Traditional and 401K. Can't be accessed 25K - HSA Can't be accessed except for medical expenses 63K - 529s - Already took the full 8K from them I could this year. Going to take another 10K in a couple months to pay DS's loan. 12K - Taxable account. Has 7K of gains, so cashing it in would cost me about $2500 in reduced credits now, but in retirement after no kids it would be tax free.
12K - I bonds - 6K is needed from this August 1st to pay tuition. The rest is the only EF I would have left.
Which leaves.... 198K - Roth IRA (86K contributions) If it was a 3% HELOC no problem, but I had to stop Roth contributions this year in order to make the minimum $250/month interest only payment to the HELOC (which will go up to $330/month).
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Rukh O'Rorke
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Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,332
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Post by Rukh O'Rorke on Jun 29, 2024 13:03:33 GMT -5
Not the Roth!! Anything but the roth!!! Ok. WHAT but the Roth then? This is what I have. 856K - Traditional and 401K. Can't be accessed 25K - HSA Can't be accessed except for medical expenses 63K - 529s - Already took the full 8K from them I could this year. Going to take another 10K in a couple months to pay DS's loan. 12K - Taxable account. Has 7K of gains, so cashing it in would cost me about $2500 in reduced credits now, but in retirement after no kids it would be tax free.
12K - I bonds - 6K is needed from this August 1st to pay tuition. The rest is the only EF I would have left.
Which leaves.... 198K - Roth IRA (86K contributions) If it was a 3% HELOC no problem, but I had to stop Roth contributions this year in order to make the minimum $250/month interest only payment to the HELOC (which will go up to $330/month).
are you still maxing 401K? could use that money to start large monthy payment... but if you think Roth is best use to do this, then you will do it. I know you know more about this stuff than I do, and your tax situation is different from mine. |
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jun 29, 2024 13:04:58 GMT -5
and you might be in a good position to do roth converstion later too!
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