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.

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.

I know everyone is tired of hearing about COVID-19, especially us health care professionals, but it affecting all aspects of life. This week my facility had the first positive patient in our state.

I was supposed to leave for Montreal tomorrow, but that trip (and the event I was traveling for) is now canceled. Also looking very iffy at the moment is my trip to Switzerland booked for May. It may be a blessing in disguise that I can stay home & focus on paying off debt rather than traveling.

I’m down nearly $200k in the market. Sure wish I had been sitting on some cash that I could have dumped in the market.

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.

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.

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.

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.

2020 Goals are much the same as my recurring goals:

Max out TSP ($750 per paycheck): $19.5k

Max out Roth IRA ($500 monthly): $6k

Pay off TSP loan ($250 per paycheck with a projected payoff date of August 2020): $4k

Pay down CC debt: at least $5k

Pay down auto loan ($150 per paycheck with a projected payoff date of July 2021): $3.9k

Payoff of my auto loan will coincide with the 5 year anniversary at my PRN job. I will reevaluate whether I want to continue working that job at that time. I still want additional income but may take that opportunity to switch to an work from home income stream. If I can do it earlier that will be even better.

I added a Clever Fox 🦊 budget planner to my Amazon cart. I am so bad at budgeting. Honestly, my budget is nonexistent. Maybe this new decade I will change that. I think I will have to be more conscious of my spending to meet the goals I have set in 2020.

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.

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.

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.

I took the day off yesterday & was fairly productive. I got a late start to my day as it was storming & I decided to wait out the rain. I hit the gym & did 5.36 miles on the treadmill. Then after showering I went shopping for Thanksgiving. It took 3 stores before I found fresh green beans & 2 stores before I found fresh cranberries, but I got both. Also picked up some other needed menu items & sushi for lunch. We have several wine options & of course the egg nog is essential. I wanted Evan Williams egg nog, but had to settle for Pennsylvania Dutch.

Two years ago my laptop died on me. Well, actually just the screen. I knew it was coming & took steps to back up my work too late. Anyway, yesterday I decided to rebuild my financial spreadsheets that I lost, this time with some changes. I will update quarterly instead of monthly from here on out. I went all the way back to the 1999 when I bought my first mutual fund in college. Yes, I never throw anything financial away. I’m kind of ridiculous that way. It was super fun tracking my net worth growth over 20 years. I’m a nerd that way. And yes, this time I will back-up my info!

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.

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.

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.

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?

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.

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.