June 2018 Financial Update
Happened way earlier than expected, I hit a major milestone in my retirement last week. June 2018 less than two months away from my 35thbirthday I hit a total of $40k. Started with a 401k right before 30, I was also burdened with almost $40k of student loan debt at the time. It’s a great feeling to have things turning around completely in the other direction.
With this major milestone being, I’m shifting gears again. Going to max out my Roth IRA, switch to / max out an HSA-based insurance plan as part of my open enrollment. Once the Roth is maxed out, then I might just stop playing with this 1.9% car loan and pay more principal payments until it’s 0.
Why this change? It boils down to a couple of key points…
- I would like to have more money liquid. The future is uncertain and I’d like to have money available to cover 3 months worth of an emergency fund.
- The market may be due for a correction soon. I’m not one to believe in market timing. However…if tomorrow my investments lose 20% of their value, I would be feeling a bit of remorse by having it all wrapped up in something I can’t access penalty free until I’m 59 1/2, or possibly longer if lawmakers decide to start changing the rules.
- I am tired of having debt. Specifically I’ve written about eliminating debt for over 6 years. I’d rather have the $541/mo in my pocket or other investments rather than lowering my cashflor.
- Tax free vs taxable investments. I like the concept of having eggs in both baskets. I’m of the opinion that tax-free growth of any investment is a bit of fallacy and Uncle Sam will try to find a way to penalize people or bring it to a halt. Maybe that won’t happen.
- It’s a bit of a stress relief to be able to move a couple hundred more dollars each month into my emergency fund.
Car Loan: $16,571.34
401k: $39,256.41 (it’s dipped a little bit over the past few days)
Roth IRA: $270.81
This is more of a money update type blog, but I needed to get this off by shoulders…
Recent news stories have been a bit of a wakeup call for us to all pay attention to the quality of our mental health. There have been a few moments of me feeling down, nothing too severe. I try to be aware of this and react accordingly. I am happy for people who have found a significant other. In my case like 3 of them got married or found the love of their life just a few months after things didn’t work out with me. One recently changed his relationship status to in a relationship. Another I was interested in dating, but said I was going too quickly because I actually wanted to meet… is dating someone now. Then being told things like to be a good Christian he couldn’t act on his sexuality. Maybe I should just put all this stuff into an excel document with a brief summary of what happened. That should be my homework fo the night..
I can relate to folks who say it’s a new day, and there are other fish in the sea. Just get fed up with the dating scene, guys who say they’ll meet up on a certain day of the week, you message them and then no response. Yet most of the apps show when they were online last. Then 10 days later I get a hey handsome. I honestly think there have been over 150 types of experiences. Maybe it all did happen for a reason though.
In the meantime it’s time to focus on getting buff, increasing the ole Sexual Market Value. Maybe I’ll end up moving if this keeps up a couple more years. Dallas has been great for my career, but my love life sucks. Almost 4 years of being single…