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Archive for July, 2022

Finance Buff’s Annual Predictions

July 24th, 2022 at 02:55 pm

The Finance Buff has released his annual predictions for contribution limits for retirement plans. As he mentions, so far he has predicted these with 100% accuracy. I enjoy reading his posts every year. 

He is predicting an increase to the 401k contribution limit of $2,000, not the $1,500 I posted recently from another source. And an increase to the IRA congribution limit of $500. That would be an annual increase of $2,500 or a little more than $200 a month. 

https://thefinancebuff.com/401k-403b-ira-contribution-limits.html

Anniversary Weekend Costs

July 17th, 2022 at 05:44 am

Tickets to Hamilton $360 (for the two additional tickets, my ticket was part of my season pass)

Hotel $324.27
Dinner $233.10
Lunch $49.88

Parking $10.50

Cash tipping $15

 

Nearly $1000. That will be a couple of weekends at my PRN job. It was more than I figured in my head and probably doesn't include everything, but the cost was priceless when my mom told me is was the best weekend ever. 

The right move at the right time

July 11th, 2022 at 12:43 pm

Once again I realize that everything came together at exactly the right time for me. I think I mentioned how my neighbor got in contact with me to get the statements for our closed homeowners association accounts. They were closed when they fired the management company after they realized that they were paying other HOAs expenses from our accounts. They initially said that we would have to pay $850 for the statement, but after repeated requests for an invoice they just gave them to me when I stopped in this Friday. Hallelujah! That's an expense that the HOA couldn't afford. 

After work yesterday I met my neighbor to hand over the statements. He says it's been a nightmare & he's telling them that he's stepping down at the next HOA meeting. I don't know how I last over a decade as an officer. He's been on the board for less than 2 years. It will be 2 years that he bought his condo in December.

They are battling both roof leaks & termites. I asked him where the termites were & he told me that my unit was one of the units infested! Several years back my neighbor 3 doors down had an infestation, but I've never had an issue. He said that you could barely open your door this year when they were swarming in May. They are the aerial termites.

I am so thankful that I sold when I did. I don't think I will ever buy into a condo association. Having to get dozen of owners to come to a consensus before you can take care of your property is a struggle that I won't miss. I had one owner tell me that he was voting no on a dues increase because he couldn't afford it. Understandable, but I had already explained to him that we could not maintain out property without a dues increase. Dealing with people who actually couldn't afford to own their homes is not a good situation. It seemed to happen fairly often even though the condos were very affordable. We also had a high tenant to owners ratio which is another negative.

Looking back, selling whe I did was absolutely the right decision.

Golden Anniversary

July 10th, 2022 at 08:36 am

My parents celebrated their golden annoversary this weekend. They were married on July 8,1972, 50 years ago. 💛

Friday afternoon they arrived at my apartment. We sat around & chatted. They had a few snacks as they didn't have lunch. We didn't want to spoil our appetites for dinner. I think took them to The Roosevelt to check-in. The Roosevelt is a historic hotel in New Orleans. All of the staff were wonderful & very accommodating during their stay. Their room was lovely. I had upgraded them to a superior room which had a nice sitting area with pull-out sofa. My mom wants to stay there when the kids come home during the holidays.

I went back to my apartment, took a shower & got dressed. Then I traveled back to New Orleans to pick them up for dinner. We went to Commander's Palace, another historic New Orleans restaurant owned by the Brennan family and the restaurant where Emeril Lagasse really found acclaim. The food & service were outstanding. 🥂

The next day I went to pick up their luggage & meet them for lunch. We had lunch in an Italian restaurant at the hotel, Domenica. The food & service were very good as well. My parents then walked the short distance to the theatre while I parked the car. It was their first time seeing Hamilton, my fourth. They thoroughly enjoyed it. The only negative was the amount of up & down during the performance. Some people don't understand that live theatre isn't like attending a movie. I think one of things that makes Hamilton stand out is that every song is memorable, which is what makes it such a spectacular show. Others kind of have filler songs, but with Hamilton every song stands out on its own. ⭐️

After the show we came back to my apartment where they were able to relax for a few minutes & get ready for the trip back home. It's a little over an hour drive. My mom said it was the best weekend ever, which made me feel good. I was very anxious planning everything, making sure that my mom was accommodated with her Parkinson's. Everything went off without a hitch! 🙌🏾

Enjoying my Journey

July 7th, 2022 at 03:19 am

I was just sitting here this evening, thinking how content I am. In the last 13 months, I took a new position, moved to a new city, and sold my condo. My life is so much better for it. Yes, I miss & worry about my parents, but all things considered, I'm in a much better place financially & professionally. My new position is constantly changing, we're always busy, I'm never "done", but I absolutely love it. It's so nice to work with hard-working people that just do their best to care for our veterans. No matter how crazy it gets, I don't get stressed. I really am so grateful that this door opened for me at just the right time.

Q2 Summary

July 3rd, 2022 at 11:58 pm

So I calculated my Q2 & monthly losses.

Last month I was down $84,439.

Last quarter I down $188,231.

This included biweekly contributions of $800 to my TSP and monthly contributions of $1,000 to my savings. Last quarter I contributed $8,600. I maxed out my IRA in January, which in hindsight was not a good idea, but fortunately is a very small portion of my holdings.

If the 401k limit goes up to $22,000 next year I'll increase my contributions to $850 biweekly.

Condo-free & loving it

July 3rd, 2022 at 11:48 pm

I can't recall if I blogged about this, but an office from my former condo association contacted me several weeks back. It seems that our management company was paying bills for other associations out of our account. They fired them of course, but also wanted an audit done.

That's where I came in as I was one of two owners that was on the old accounts who could request the archived statements. The other person being elderly & maybe at the onset of dementia. I still do not have the statements. They had to be requested from their archives then my former neighbor needed an invoice to get the new management company to cut a check.

The strange thing is now the bank is not responsive, which is frustrating. I am not getting calls returned & when I went into the bank on my day off I was told to return. I got a strange vibe & I now wonder if they are dragging their heels because they are worried that the association may hold them partially liable. I don't know the reason, but I wish o could get this completed so I can be done with this.

The association is anxious for the records as well as they are needing money for other projects like roof leaks & termites. I have never been more thankful that I sold my condo. It was so stressful living there & dealing with all these never-ending issues. I am thankful to be renting & never having to worry about maintenance or since. Yes, it's much more expensive (and rising), but I don't know if you can put a price on peace of mind.

Speaking of rent, I recently checked out the going rate at my apartment complex. I am paying $1600 plus $32 for water. The lowest priced a 2 bedroom unit is currently listed at is $1930 and water has gone up to $47. I only moved into my unit last August! It's unbelievable how quickly prices are rising.

Q2 and Mid-Year Outlook

July 1st, 2022 at 09:44 am

I haven't done the final tally, but I'm down again for Q2. I don't know if there's an end in sight so I just keep plugging away. I'm still north of $1 million overall, and also in retirement.

This is a strange economy. There seems to be no limit on jobs available, yet no people to fill the vacancies. So many people are leaving the healthcare field. It makes me nervous for the future of healthcare in this country. And I'm happy that I'm not traveling this summer as flights continue to be canceled due to a shortage of pilots.

I read an article that estimated that 401k limits will increase to $22,000 next year due to inflation. I am anticipating an increase to the IRA limit as well. We shall see.