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Taxes Paid Off

July 28th, 2018 at 07:12 pm

This week I sent off the final payment for my federal taxes (including the late fees & penalties). This year I owed over $4k, which is a much larger amount than I've ever owed. Last year was an unusual year with income that I didn't anticipate. This year will be less income, but I still decreased my exemptions to 0 at both jobs. I don't anticipate another 6 figure year for 2018.

I have been working a lot of extra hours at my full-time job, but there is no overtime pay involved. I earn hours to take off later. I don't have strong feelings about not getting overtime, but it would be nice if I did. I've raided what little cash I had to pay off the IRS. However, I will enjoy the extra time off later when we get past our inspection.


No other new news on the personal finance front. Things are the same, but I'm happy to see some bounce-back in the stock market, for however long it holds.

Rollover (Direct Transfer)

February 17th, 2018 at 01:10 pm

So after some back & forth with Vanguard (mostly on my part) they finally responded to my latest inquiry that I have received all the monies from them that I am eligible to receive. The remaining balance I will transfer to my TSP as I 1) like to keep my money consolidated in my 2 retirement accounts, and 2) I was not eligible to keep my money in my employer's plan. It is only about $600 and i have already initiated the direct ransfer of funds. Hopefully it will be completed by the end of the 1st quarter next month.

Btw, if you are a Vanguard customer they are giving away these really cool #investinglikeaboss mugs. You need only request one from the Facebook page & they will send it in a few weeks. I am looking forward to getting mine.

It's crazy how much money we have lost in the market in the last month, but I consider it an opportunity to buy at not sky-high prices.

Personal Capital

January 24th, 2018 at 04:52 pm

I have a had a few phone consultations with a representative from Personal Capital. Of course they want me to sign up to have them manage my investments. The percentage is small, only 0.89% for up to $1 million then it goes down. Their asset allocation calls for some REIT's & gold, neither of which I'm sold on. Has anyone worked with them?

Merry Christmas & Happy New Year

December 22nd, 2017 at 08:26 am

Happy Holidays to all! My family is flying in today. I am looking forward to spending the next several days with them. We both fly out on the 27th. Them back home, me to London then Edinburgh.

My gym is going up $1 in January. I decided to cancel my membership. It will be $50 a month & I can get a membership at a 24 hour fitness club for much cheaper. I am also looking to cut my cable next year. I guess my New Year's resolution is to be more vigilant about my spending. I don't plan on cutting out vacations so I will look elsewhere. I barely watch television anyway.

My goal was to have $500k by age 40. It seemed a very lofty goal at the time, but I have not only accomplished that goal,I have surpassed it. Now for the next goal. Is $1 million by age 45 out of the question? Maybe not, but it will require some dedication to cutting expenses, getting rid of debt, and continuing to save a good percentage of my income. $750k seems too conservative, but if we run into a bear market it may be an optimistic goal.

I'm excited for what the future holds in many ways.

2018 Retirement Plan Limits

October 21st, 2017 at 06:37 pm

The maximum contribution limit for 401k's will increase to $18,500 in 2018. The IRA limit is unchanged. I am happy that we will get an increase.

In other news, I read in the NYT & other sources that Republicans are looking at limiting the 401k contribution to $2,400 in future years in order to finance their tax cut plan. This is insanity. The last thing we need along with the tax increase on the middle class and cuts to Medicare & Medicaid, is for them to limit what Americans save for retirement. I hope that all proposing this are voted out during the midterm elections next year.