Friday, December 7, 2007

Monthly Update for November 2007

Net Worth is down by $249 Dollars to $179,561. I'm actually happy about this. There have been some unexpected events the past 30 days or so.

My heating and air conditioning unit in my home decided to go on me. ugh! The joys of home ownership...And this is supposed to be an investment. Yah, I'll keep telling myself that until I believe it. However, the new unit has added a great improvement to the house. We even have a fancy new programmable thermostat. The total cost of the equipment and labor was around $4,700. I got the installer to agree to breaking up the payments over the course of three months. I am learning that I don't like to drag out financial obligations this way. Kind of like my dislike of our CC balance at zero percent. The upside of this is not having to take out any cash from my ING account, but in turn, I have had to suspend any further payments into this account until mid January. I am hoping to pay off the repair bill and maybe add a little additional cushion to the joint checking account by doing this and not have to actually transfer any savings. This home improvement is really crushing my cash flow in a bad way. I am estimating that I can put the ING on automatic pilot for $500 a week beginning mid January.
A few other factors were:
1. My employee stock actually went down by about 7% instead of the rumor of a heavy increase.
2. Overall Stock Market decline

December may not be much better. We still owe about $1,200 to the installer and another $700 for some recent furniture purchases. On a positive note, my next paycheck should be a bit higher. I received a 5% raise and will be able to drop my W4 form down by about $200. I am also expecting about $500 dollars (Net) from a bonus from work. I am hoping to break into the $181K bench mark in December. This should be achievable with just our 401K contributions and company match. As I suspected the stock market has come roaring back in the past few days adding easy money back into our accounts. This will certainly help the cause.

My short term goals are still the same. I want between 40-50K total in our cash accounts. I will then start contributing to our brokerage accounts to include Roth IRA and maybe even a little extra into the mortgage. I must say I feel like I'm running up hill pretty hard right now. Sometimes it feels like I just won't make it over the hill. I look forward to the day when I can feel comfortable with the amount of cash I have on hand and start putting more money into the brokerage accounts.