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