Month 53: Why 1984 won’t be like 1984

It is now 1984. It appears IBM wants it all. Apple is perceived to be the only hope to offer IBM a run for its money. Dealers, initially welcoming IBM with open arms, now fear an IBM-dominated and controlled future. They are increasingly and desperately turning back to Apple as the only force that can ensure their future freedom.

Oh wait… Not that 1984, but $1,984. As in my student loan balance. That’s about what my computer, a MacBook Pro cost when I purchased it in early 2014. This is a moment to celebrate. Why? For the first time ever my student loan is below $2,000. Progress my friends, it’s all about progress.

What about Retirement? $18,223 in my 401k and $362 in my Betterment Roth IRA. So $18,585 total. Credit cards? Credit card balance is around $1400. Each paycheck I make a $700-800 payment toward that with plans to increase once student loans are gone.

Now what about the car???  Current payoff is $29,169.81 at 1.9%. That’s down from $1997.39 from $31,167.20. I have another payment coming up in a week which will drop it below $29k.

Not being content with where I am today, I started to do a little bit of job searching. Interviewed with a local employment agency for a contract gig. The position sounded interesting and I think would be a step forward in my career. However I don’t think they would be able to match my benefits aside from medical and dental. 160 hours of vacation, essentially unlimited sick time, paid holidays, 5% retirement matching… As a contractor, you need to plan for all of those things.

It’s important to look at the big picture when making big moves like working for another company. Can’t afford to leave money on the table. I’ve been following a little bit of Alex Becker‘s work, read his book 10 Pillars of Wealth where he talks a lot about working for yourself and the benefits of a cash flow business. I also am in the middle of Scott Alan Turner‘s 99 Minute Millionaire ebook along with The Procrastinator’s Handbook – Mastering the Art of Doing It Now by Rita Emmett.

My last point and this is a big one. Don’t stop. Live is a marathon, not a sprint. Just because you had a setback or 5 doesn’t mean you let that break you and give up. From 2009-2011 I went a year without a regular FT job, not qualifying for unemployment and over $42k in student loan debt. I was down, depressed and unsure my future. Today I am on more solid footing. Not balling by any means but I’m way better off than those dark days.

Applying my own advice to different areas of my life, learning from experts to save time, minimize frustration and see results.Hope to share more with you on that soon.

Month 52 – Navient $2,479, Retirement – $17,912

Sorry if these updates are getting boring. I’m making progress still. Down to $2,479 from $15,402 just one year ago and $2,970 one month ago.

month52updateMy retirement is steadily growing. 401k is finally vested after 3 years and up to $17,654. My Betterment account is up to $258.

Other than that I did get a raise even though it was less than I was hoping for. Still need to keep looking for more jobs but not trying to get crazy stressed about that. Kind of question whether to put so much effort into a search when it’s not mandatory.

Speaking to the big elephant in the room. This blog… is called Debt Free 32 – One Man’s Mission to get rid of $45159.35 of debt. The 32 part is because I planned do to this by age of 32. Today is my birthday… I’m 33 now, not 32. A couple months short of my goal, but still making great progress since the start of this blog. Over $45k in payments. Under $2,500 left on the student loan. Worst case this sucker will be gone by December. Best case – October. Then I can celebrate and reflect.