Monthly Update

Monthly Update

Well, the weather has cleared and the bathroom is done. It finally feels like I can live again! After this rotten winter I definitely plan on spending as much time as possible outside.Fortunately I did most of my gardening last year, so this year will revolve a lot more around long bike rides, fire pits, and hammocks ūüôā

Financially speaking though, I took some steps forwards and back.¬† My 401k and stock options grew slightly, and I added another $10k in equity with the bathroom remodel being finished.¬† My debts have also been decreasing broadly and I’m finally under $5k for my personal loan and $15k for my school loan.¬† There is still a long ways to go, but it feels like I’m crossing some important thresholds. Most of payments go straight to principle today, so the payoff should get faster and faster.

On the downside though, the bill for my roommate’s help with the bathroom grew from the $1500 I was expecting to $5000 (and that was after negotiating him down from $7500).¬† I didn’t have all that cash on hand and borrowed money from my parents for it. I hate owing them for anything and my Dad will lord it over my head for ages ūüôĀ I plan on paying them back ASAP when I sell my stocks in a month or two. This also meant that didn’t have enough to fully pay off my credit card either, so I will be paying off that balance for a while as I pay off the previous month’s balance and not the current month’s balance, thereby avoiding the interest fees but having higher bills instead.

On top of that, my roommate is taking forever to move his stuff out of the house. He finally cleaned out his half of the garage, which was crammed to the brim with construction supplies, but didn’t even start with anything he had inside the house. He said he’ll clear out halfway through the month, but this will cost me a solid month’s rent turning the unit over. Bills bills and more bills. I can’t wait until I have all the debts paid off and the money pours inside rather than out.

Updated figures are below. For the chart, the green assets line is plotted against the left axis, and the other lines against the right axis. The projected passive income is what I would get if I converted all of my assets to an index fund with a 3% return (the average 7% market gain Р4% inflation).

Wealth Chart 201804

Assets

$2.1k in cash ($2.3k previously)
$32.8k in 401k/Roth IRA ($32.3k previously)
$75.6k in stocks (no change)
$115k home equity (House value $300k ‚Äď Home mortgage $185k) (previously$103.9k)
$1,135 employee stock contributions (~$800 previously)

Liabilities

$5k  (@9%, being paid off at $534/mo) (previously $5.6k)
$14.7k (@6%, being paid off at $600/mo) (previously $15.2)
$185k at 4.125%, being paid off at $1400/mo, half from me, half from a mother-in-law unit I rent out) ($186.1k previously)
$900 in credit card debt ($600 previously)
$7,000 owed to father for electrical work & contractor pay (previously $3,000)

Cashflow

$0/mo in rent, on a month-by-month basis (gave my roommate three months of free rent in lieu of payment, lost another month due to turnover)

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