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Paid off my car this morning!

December 12th, 2020 at 04:35 pm

I always say that I'll let the final payment go through as usual, but like with my TSP loan I couldn't wait. My automatic payment of $200 went through yesterday & I had $180.15 remaining. I scheduled the $180.16 payoff amount for today. She's all mine now! 🚙 

This is my second loan payoff this year & I've moved my anticipated credit card pay off from spring 2021 to January 2021. My balance will never be zero as I don't pay in cash, but it should just be my usual monthly purchases on my balance after next month, rather than recurring debt. I am now down to $3k from $22k earlier this year.

My next paycheck I will contribute $700 to my TSP to max out for the year. I still have $2k remaining to contribute on my 2020 IRA. $500 will be contributed on the 15th. 

I'm so excited for my progress this year. It's like I woke up out of a slumber. Next year I'll be able to focus on rebuilding my savings.

Still no news about whether federal employees will get a raise next year, but I'm still due for a step increase. Of course, we will have to begin paying back deferrred OASDI taxes in the new year. 

I enjoyed my day off yesterday. I ran some errands, did some house chores, & had a belated birthday lunch with a friend. Today will be more of the same. I slept in very late today. I guess my body needed it.

Have a great weekend & happy Hanukkah to those celebrating! 🕎 

Net Worth $1,102,723

Pushed back to Phase 2

November 25th, 2020 at 02:59 pm

Due to our rate of positives our governor has pushed us back to phase two. We were in phase three with up to 75% occupancy, now we're back at 50% occupancy. 

I unexpectedly sold an EBay item on Sunda (it's been a while since I've had a sale) and the two people ahead of me weren't wearing masks even though we still have a mask mandate. That Pfizer vaccine can't come soon enough for me. Fingers crossed that I get selected. 🤞🏾


I really have banged myself up this last week. I have some sort of carpet burn on my side possibly from the Lyra loop, I think I may have broken the same toe again, and I sliced my finger open in the lab fridge door. I'm a walking accident!

The Dow passed 30,000 yesterday! So exciting. I am less than $23k from $1 million in just investments. My home equity & car worth is what is pushing me over $1 million now. I am kind of kicking myself for not getting in on those travel stocks, but oh well. You win some, you lose some. There will be other opportunities I'm sure.

I am home during the day for the next 3 days. I need to go grocery shopping for today's holiday cooking. So happy to have a few days off. I still have to work in the evening, though. I have 3 more use or lose days before the end of the year after this. I will take them the week of Christmas. My sisters are still planning to come home & I pray for their safety traveling.

it is my birthday next Saturday & my early birthday present to myself was buying President Obama's first volume of his presidential memoirs. He is a wonderful story teller & I look forward to reading it when I can find the time. I may lend it to my mom first as I'm currently so busy. It is over 700 pages.

Friday is payday & I only have 3 paychecks left in 2020 as well as 3 payments on my car. My last car payment is my Christmas paycheck. Merry Christmas to me! That's $200 extra biweekly. I love when I give myself a raise through debt payoff. I will also max out my TSP with my last paycheck.

Happy Thanksgiving all! 🦃 

Net Worth $1,077,566

More Income

November 2nd, 2020 at 11:40 am

I haven't been working my third job since August, but on Friday they contacted me to say that they're going to be ramping up COVID-19 testing. They have a new instrument so I would need to be trained on it if they want me to use it rather than the instrument I was already trained on, the BD Max. Both labs that I work at also got a BioFire, but it doesn't seem to be getting much use yet. 

At the hospital we are using the Abbott ID Now. It gets super busy with the seasonal flu testing, as well as the COVID-19 testing. The ER is supposed to be getting their own instruments to run, which will be a huge relief for the lab. 

 

I checked my mail Saturday & I received my settlement money! I mobile deposited it & scheduled 3 more weekly payments to my credit card. This debt will be knocked out in no time!

 

The IRS announced that retirement plan limits will stay the same next year. So I will continue to contribute $19,500 to my TSP & $6,000 to my Roth IRA. 

Happy Halloween 🎃 👻

October 31st, 2020 at 06:54 pm

Happy Halloween! 🎃

We had a fun Lyra photo shoot yesterday evening inspired by Halloween. I got some good pics out of it. My flexibility with Star on the Bar (my favorite pose) continues to improve. 🌟 

Yesterday at the clinic we had a Halloween party. There was costume & pumpkin decorating contests as well as other fun games. Lots of good food as well. It was a fun event. 👻

We survived Hurricane Zeta with little local damage. There was more damage in the New Orleans area with this storm. And we still have another month to go in this very active Hurricane season. 💨

I've decided to start trading stocks within my Roth IRA (for tax purposes). I'm excited to do my research & learn more about the companies I'm interested in. They say you should buy what interests you & I am definitely leaning towards stocks related to travel. 🛩

Cruises are no longer under a No Sail order as of midnight today, but who knows when they will start cruising again. When will people feel comfortable cruising? Maybe not until there's a vaccine & even then maybe only when we've had time to study the side effects. 🛳

I got my third paycheck of the month yesterday. It's nice when you get to make an extra payment on debts. I'll do some end of the month budgeting later today. 💰

I have 4 biweekly payments left on my car loan! Today my cash on hand exceeded my debts for the first time in years, probably. Still on track for total debt payoff by spring 2021. 🙌🏾

Net Worth: $960,559 

 

 

 

 

Post-Hurricane Sunshine

October 10th, 2020 at 06:04 pm

Hurricane Delta has passed & I am relatively unscathed. I lost power for 9 hours & still have no internet, but other than that and the now dry closet leak, all is well. The weather is sunny & dry this morning.

Yesterday was my sister’s birthday & I called to send her my best wishes. I got to speak to my niece & nephew as well. They’re growing up so fast! I can’t wait to spend time with them during the holidays. I still hope that they will be able to travel home for Christmas.🎄

I missed Lyra class this morning. The power was out & I was just not physically feeling up to going, so I canceled my reservation for today’s class. I’ll be back on Tuesday. The studio is doing a Broadway showcase for the various classes. I’m thinking of doing a routine to Masquerade from Phantom. 🎭 We’re also having a Halloween photo shoot which will be fun. 🎃👻

Have a good weekend! Since the clinic was closed yesterday we now have a 4 day weekend due to Columbia Day, though I work tomorrow at the hospital. 🏥

I did a search & there have been no announcements yet from the IRA regarding retirement plan contribution limits for next year. I’ve only seen one person say that the 401k limit will increase to $20k, but I would be very surprised by that happening.

Net Worth $1,007,225




PayDay...Kind Of

August 15th, 2020 at 04:51 pm

I got paid yesterday for my third job. I only worked 4.37 hours due to the kit shortages. I paid 75% of my pay in taxes because I have it set up to take an additional $100 out each paycheck. So I netted approximately one hour’s pay. Oh well. Even though I’ve only worked there 3 months I’ve already made over $10,000 for the year.

TSP says my personal investment performance for the last 12 months is only 6.26% but it sure seems like a lot more with the recent gains.

Net Worth: $969,408

PayDay Review

August 8th, 2020 at 05:14 pm

Yesterday was pay day. I got paid from 2 of my jobs. My third job pays semi-monthly so on the 1st & 15th. This month the 1st was a Saturday so I got paid on the 31st, which was a nice surprise.

My car payment is automatically deducted on paydays. I now owe less than $2k on my car. I also schedule credit card payments at least every other week. My credit cards are now down to $10k as I mentioned in my last blog post.

My IRA deduction will go out next Friday. It is scheduled for the 15th of every month, but the 15th falls on a Saturday this month. At one time I was sending the full year’s contribution on January 1st. I hope to get back to that in 2022 when I’m debt free except for my mortgage. My auto & homeowners insurance as well as my utilities are also due on the 15th. My mortgage is paid biweekly the Wednesday after my two paydays.

Net Worth: $959, 901

Pay Day Friday

June 13th, 2020 at 06:03 pm

I received 2 of my paychecks this Friday. I will receive the third on Monday. My credit card debit is down to $15k with yesterday’s payment. Monday I will send $500 to my Roth IRA. I have set up recurring transfers again on the 15th of every month.

I am contemplating taking a break from my second job in July. The third job is keeping me plenty busy with 20-25 hours weekly. Having a break on the weekends would be nice.

With the lack of gym time I’m looking to make some changes to my diet. I’m speaking to a friend today that has lost a lot of weight through dietary changes. And with my weekends free maybe I can get back to taking my evening walks on weekends at least.

TSP Increase

May 14th, 2020 at 01:01 pm

I had decreased my TSP contribution to just enough to get the full match while paying down credit card debt, but with the new job, the sign-on bonus, the stimulus payment, canceled vacations, & the gift from my parents I decided to increase it to meet my limit again this year. I may have to adjust it again closer to the end of the year to make sure I max it out.

I also will have finished paying back my TSP loan at the end of the month. I sent an extra $500 payment last week. That will give me another $250 per paycheck.

The Revealing

March 3rd, 2020 at 06:26 pm

So through a set of circumstances that my mom is calling divine intervention, almost the entirety of my debt was revealed to her. Of course I was...there is not a word that could accurately describe what I felt. My debt is definitely a source of shame & fear. Not fear in that I can’t pay it, but that it’s a cycle that I’ll never get out of.

So we had a discussion over the phone. She wanted to wait until later to talk since I was at work, but I hate that. When people have something serious to say to me I want to hear it now, not later. Anyway, after the discussion I went in & cut my TSP contributions down to the minimum I needed for my full match. That will put $600 more in my check before taxes. Once I finish paying off my TSP loan in July I’ll have another $250 a paycheck after taxes. Once I pay off my car I’ll have another $150 per paycheck, also after taxes of course. If I suspend my IRA contributions that’s another $500 a month.

I’m going to pull out my Dave Ramsey book & get serious. I may even take the course offered at church. I’m tired of this debt yo-yo & I’m going to nip it in the bud once & for all.

My mom asked me about my travel & will take the next 2 trips that I have scheduled. After that I’m on hiatus. It will be hard to pass up trips with my friends, but I’m so determined to do this. Also, I think my mom is somewhat in shock & I’d like her to not worry. She says that she isn’t, but like me, she’s a worrier by nature.

Stock Market

February 29th, 2020 at 09:25 pm

My investments updated today & I am down more than $100k from recent highs. Oh well, I’m staying the course through all the ups & downs. I sent an IRA contribution in last Friday & I wish that I had sent it in this Friday. But you never know what will happen & can’t time the market.

IRA Follow-up

January 11th, 2020 at 05:29 pm

I finally got in touch with Vanguard & she showed me how to correct the issue online. It was very simple. So I was able to recategorize my contribution from 2020 to 2019. I now have $1k to contribute for 2019 & $6k to contribute for 2020. I will send $500 to my 2019 IRA in February & March.

I owe my mom one last payment of $250 for my AC loan. My TSP loan is now below $4k. My car loan will be paid off in the first half of 2021.

I transferred $100 to my savings yesterday & mailed $20 to the local food bank this week.

I received my Clever Fox budget planner this week. I really like it & I’m well into journaling my January budget. I brought my lunch 4 times this week! That’s a record for me.

IRA Contributions & Budget

January 6th, 2020 at 08:07 pm

I forgot to turn off my automatic contributions to my IRA, so I sent my first contribution for 2020 even though I still haven’t fully funded 2019. Whoops. Needless to say, I turned off the automatic funding. I will finish paying my mom back for the AC loan this month & should have the funds to max my 2019 IRA by April 15.

I have decided that 2020 will be the year I learn to live on budget. Honestly, I never tried before. Just spent as I pleased & my credit card debt reflects that. I want to start this decade off being mindful with spending money.

Ten Year Review

January 1st, 2020 at 03:29 pm

Investments:

$155,187 2009Q4

$842,089 2019Q4

$686,902 Ten Year Investment Growth

I will update this blog as I find other stats to include.

ETA: 2008 was the first year that I maxed out all of my retirement accounts. I always contributed the max to my IRA & in 2008 I was able to do the same for my employer sponsored plans as well. Prior to 2008 I received no employee match, now I receive a 5% match.

Goals Met in 2019

December 28th, 2019 at 11:46 pm

While I'm watching LSU win this Peach Bowl (Geaux Tigers!!!) I'd thought I'd write a blog reflecting on 2019 successes.

Health wise, after being diagnosed with type 2 diabetes in 2018 I now have an A1C in the normal range with the help of metformin. I had a significant 2.0% drop in my A1C with medication, exercise, and weight loss of 23 pounds. I work out consistently, jogging 17.5 miles weekly.

I started salsa classes which I love. It took me 3 sessions of level 1 classes to make it to level 2, but I did it. I'm not a natural dancer, but I still love it. In 2020, I'd like to take bachata classes as well.

I met the max limits for my TSP, saving $19k. I saved $4.5k in my Roth IRA & I plan on meeting the contribution limit by April 15th, even if I have to pick up some extra weekends to do so.

Year End Bills

December 27th, 2019 at 02:27 pm

My 2 paychecks hit the bank this morning so I wrote a check for my property taxes & to repay a small loan to my mom for the new A/C. I also sent $500 to my Roth IRA. I have until April to max out my 2019 contributions. I have $1500 remaining.

Year End Paycheck

December 27th, 2019 at 01:17 am

We got our performance awards this paycheck. What a nice surprise. I was not expecting them before January. My pay stub noted that I netted $597.15 from my $900 award. So basically 1/3 went towards taxes. This & 2.5 hours OT will go towards my property taxes.

With this last paycheck I completed my max contributions for the year for my TSP. I have increased my contributions to meet the max next year. I still have $2k to contribute to my IRA for the year. I’m behind due to paying for A/C repairs.

TSP Update

November 23rd, 2019 at 05:56 pm

I went ahead & updated my TSP contribution to $750 a pay period to reflect the 2020 limit increase. Sometimes the TSP can be slow with updating contribution amounts. It’s okay if it kicks in before the end of the year as the plan won’t allow you to contribute over the limit.

TSP Update

November 23rd, 2019 at 05:56 pm

I went ahead & updated my TSP contribution to $750 a pay period to reflect the 2020 limit increase. Sometimes the TSP can be slow with updating contribution amounts. It’s okay if it kicks in before the end of the year as the plan won’t allow you to contribute over the limit.

Loan Updates

November 12th, 2019 at 06:42 pm

My TSP loan balance is now lower than my auto loan balance. The original amount of the TSP loan was more than the auto loan, but I am paying $250 every two weeks for the TSP loan & only $150 for the auto loan. The TSP loan will be paid off in approximately 20 pay checks. Once I'm no long paying $250 every two weeks towards my TSP loan I can add that $250 to the auto loan. Both interest rates are very low, so it may make more sense to put it towards the credit card debt, though I like the idea of owning my car outright sooner rather than later.

401k Limits Increase in 2020

November 7th, 2019 at 07:31 pm

As I mentioned in my now deleted blog entry due to the hacking, the IRS will/has announced higher retirement plan limits in 2020. You will now be able to contribute $19,500 to your 401k and catch-up contributions for those 50 & older has increased to $6,500. No change to the IRA limit.

Multiple articles linked below for your reading pleasure:

https://www.msn.com/en-us/money/retirement/irs-raises-retirement-account-limits-for-2020/ar-AAJXoWD?ocid=spartandhp

https://www.journalofaccountancy.com/news/2019/nov/irs-inflation-adjustments-2020-retirement-plans-201922407.html

https://www.forbes.com/sites/ashleaebeling/2019/11/06/irs-announces-higher-2020-retirement-plan-contribution-limits-for-401ks-and-more/#1f285dc533bb

https://money.usnews.com/money/retirement/iras/articles/ira-contribution-limits

https://401kspecialistmag.com/irs-bumps-2020-401k-contribution-limit-to-19500/

ETA:

Biweekly contribution for the 401k:$750
Biweekly contribution for catch-up:$250

Retirement Savings Article

April 3rd, 2019 at 05:23 pm

The GAO has released a report on the rate of retirement savings at the request of Bernie Sanders. It's still shocking to me no matter how many times I read pretty much the same thing.

https://www.gao.gov/assets/700/697898.pdf

The numbers don't quite match up, I calculated 101% with the percentage breakdown. Savings rates have slightly improved, but still, what is to be done? More personal finance education for children? Is it a lack of education or a lack of income? Probably both. When you consider that this survey is for Americans 55 and older, the picture gets even scarier.

New Retirement Plan Limits

November 4th, 2018 at 05:42 pm

The IRS announced new retirement plan limits on November 1st. The 401k limit increases to $19,000 and the IRA limit increases to $6,000. For those under 50, you can contribute $1000 more to your retirement accounts next year. Both plans were projected to increase & it's nice to know that it's official. For those of you that contribute biweekly you'll be contributing $731 per period for your 401k(if you choose even distributions) and $500 a month to your IRA.

Im looking forward to meeting my max once again next year. Although the market has had a rough year, I am still committed to contributing up to the IRS limits.

2019 Budget

August 18th, 2018 at 03:39 pm

I have already started to work on my 2019 budget with estimates of an increase in my retirement plans as well as an increase in pay. My pay should go up in January even if an annual raise isn't approved, because I am due for an increase due to my pay schedule. Retirement plans may increase $1k in contribution limits, but my pay should increase at least another $2k, hopefully $3k if an across the board increase is approved.

Retirement Plans in 2019

August 18th, 2018 at 03:36 pm

I have read predictions that both the 401k and IRA limits will increase by $500 next year. It will be nice to be able to save an extra $1k next year. I will make the adjusts accordingly in December, when the changes are signed into law.

Rollover (Direct Transfer)

February 17th, 2018 at 09:10 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.

Back from my Grand British Adventure

January 6th, 2018 at 05:26 pm

I got home late last night. Still recovering as I came home with a little cough & sore throat. I had a wonderful time. I left on December 27th for London, then traveled to Edinburgh January 2nd. I had such a great time. The original purpose for the trip was to attend the musical Hamilton that opened at Victoria Palace last month. Other things I did included touring Westminster Abbey, Tower of London, Hampton Court, Windsor Castle, Holyrood Palace, Edinburgh Castle, Scottish Parliament, the Scottish Whiskey Experience, & Mary King's Close. We also attended an abbreviated changing of the Guard at Buckingham Palace. This was my second trip to London and also my second trip to Westminster Abbey, Tower of London, and Buckingham Palace (I still have not been there during the short period to tour the inside of BHP yet). In two months were are traveling to Greece!

In financial news, Vanguard refunded me most, but not all of the money in my 401k. Strange, as all monies were to be returned to me. When I contacted them they said that the money remaining was from a 2016 contribution. Problem with this is that the balance appears to be over double what that contribution was, I had already received the withdrawals on 2016 contributions in early 2017, and there should be no money remaining in this account since both years contributions were to be withdrawn. So we will see what they do next. I'm starting to be less than impressed with Vanguard lately. I might need to start looking elsewhere.

Happy Thanksgiving

November 24th, 2017 at 12:07 am

Happy Thanksgiving to all! My year has been full of blessings and I have much to be thankful for this year. We had our usual small Thanksgiving with just me & my parents. I invited a co-worker over, but he didn't come. Lunch was delicious as always.

Now that I have contributed in excess of the $18k limit for my retirement plan, I have contacted Vanguard to get a distribution of funds. Despite what they implied at the beginning on the year, it seems they are willing to give me the distribution now rather than waiting until I receive my W-2. That would be much easier & give me some extra money for debt repayment.

There's less than 2 weeks until I turn 40 & I am making plans. I am taking the day off as usual. I have booked some time at the spa for a stone massage, facial, & pedicure. This will be my first massage. I'm looking forward to it.

I am also planning on having dinner at a French restaurant that I've always wanted to try. They have a 4 course early bird special which will make it a little less pricey. I'm not having a big party as that not me. There are plenty of holiday parties going on as well. I have always said that it's nice having a birthday in December as it's such a festive month that you feel you get to celebrate all month long with everyone without having to be the center of attention.

This and That

November 4th, 2017 at 07:44 pm

For now Congress has decided to leave the 401k limits alone. Next year the limit will increase $500 as planned. And as I have since 2008, I plan to meet the maximum allowable contribution amount. This will be roughly $712 a paycheck, though I usually round up to a higher amount for my deduction & have a larger paycheck on the 26th paycheck.

I mentioned a while back that I am expecting a settlement from a class action lawsuit that I wasn't even aware of. It looks like it is going forward. They plan to have an even distributing the checks next month. If I am able to make the drive that day I will. I'd rather have a check that large in hand, rather than mailed to me. I am still planning to pay down credit card debt with the check.

2018 Retirement Plan Limits

October 22nd, 2017 at 02:37 am

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.


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