By: Revanche

October Snapshot

October 4, 2007

Retirement Savings Rollover 401(k): $1,456
Roth IRA: $3,465
401(a): $1,412
403(b): $9,552
Total: $15,885
Emergency Savings $6,362
Goal Oriented Savings Car Maintenance: $636
Savings for BT repayment: $17,274
Total: $17,910
Investment Loans Prosper-ish: $12,630
Personal Loan: $5,000
Total: $17,630
Total Assets Non-Liquid: $15,885
Semi-Liquid: $17,630
Liquid: $23,026
Total: $56,541
Debt and Liabilities Truck: $8,136
BT (Brother): $17,274, due 02/08
Total: $26,052

I’d forgotten to include my Rollover 401(k) from the job I was working when I turned 21 in last month’s Snapshot. It looks like I have a “high” net worth if you just do the simple arithmetic here, but that’s all tied up in retirement and dedicated loans or funds. I’m still cash-poor and have a long way to go before I meet substantial goals and most especially before I reach a comfortable level at which I can start funding recreational goals.

On the plus side, there’ll still be something left over after the BT debt is paid off. Either I was very pessimistic or saved much more than anticipated for that to happen. I call pessimistic. And that makes for a pleasant surprise.

So, no more thinking of what might have been had I not made stupid decisions earlier this year, and on to more positive thinking! Relying entirely on myself and just going on: that’s the ticket!

I’ve decided that 40% of the check, which still hasn’t arrived, will go to a savings account for taxes, 40% will go straight to the e-fund, and the last 20% will go towards expenses Oct-Dec. That’s mostly because I increased the 403(b) contributions so much that my paychecks will be miniscule. It’ll all shake out in the end. More untaxed retirement contributions lower the taxable income, I calculated what the difference in take-home would have been and supplement from the bonus, and the rest goes to savings. Win-win-win! Or so the plan goes…..

5 Responses to “October Snapshot”

  1. I thought your brother owed you money, not the other way around. Didn’t you decide to loan him money and then wish you hadn’t? Or am I way off . . .

  2. ~bart~ oh no, you have it exactly right. I originally took the BT money from my credit cards for the arbitrage that I was planning on, but instead lent it to him because he and my parents were insisting that they would be able to work together, etc. etc. etc. Six months later, I find that it was a really dumb decision because they couldn’t, and he still owes me all that money. And in the meantime, the 0% BT offer expires in 5 months, so I have to be able to cover it with my own money.

    I’m still kicking myself.

  3. Ms. M&P says:

    Omg. What a mess. I’m sorry that things have worked out that way. Many kudos to you for being so on top of things. I’ve never been in a place to loan people lots of money…

    Btw, I love your tag for this šŸ˜‰

  4. Gotcha’. Thanks for clarifying. You’re smart to take responsibility for paying it back before the 0% rate is gone!

  5. ~Ms. M&P~ I appreciate the kudos even if I don’t quite deserve them. I’ll know better than to “a lender be” for a long time in future now!

    ~Bart~ No problemo. Just making the best of the situation, that’s all.

Leave a Reply

CommentLuv badge

This website and its content are copyright of A Gai Shan Life  | Ā© A Gai Shan Life 2024. All rights reserved.

Site design by 801red