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.