On this 4th of July I’m reminiscing on this crazy country I live in. Despite my pessimism it’s a pretty great place to live. We do have a large amount of opportunity and diversity that slightly combats all our issues. I’m happy to live here and wouldn’t roll the dice again if given the chance. That’s one way to show someone’s true feelings 🙂 .
Category: Investing
401K and Roth IRA Challenge Complete!
World record! I maxed my 401K and Roth IRA in 4 months. The last time I took up the max your 401K challenge it took me 6 months. Improvement! It’s crazy what two years, a cross-country move and a 52% increase in salary can do. Now to the next challenge: Pouring as much money as possible into my taxable account. Let’s do this!
Maxing 401K in 4 Months
I seem to always inspire weird looks in my HR departments :). Apparently they see 62% contribution to 401K and think I forgot a decimal point. At my new company I’ve been asked I believe 3 times in a 2 month period if my election was correct. Yes it is :). When I started at my new company on November 15, 2016 I calculated what election percentage I needed to max my 401K by December 31 despite being funemployed for 4 months. And that was 62% so I made it happen and I maxed it (within a few hundred that the no decimal point awarded me). Continue reading “Maxing 401K in 4 Months”
2016 State of the Union
I did it again – against all odds. I started this year with the goals to:- Max my 401K
- Max my Traditional IRA
- Increase my salary
- Overall contribute $54,000 to investments
2015 State of the Union
I fucking did it. I started this year with the goals to:
- Max my 401K
- Max my Traditional IRA
- Max my HSA
- Overall contribute $35,000 to investments
401K vs. NYC Taxes
As you know, I have now maxed my 401K in six months of living in NYC to decrease my large state and city tax bill before we move. But I’ve been wondering how much money in state and city taxes I have saved by maxing this before I leave and how much of federal taxes have I saved by simply maxing this account. Continue reading “401K vs. NYC Taxes”
Dividends & My More Successful Twin
I now have more money saved than my current annual salary. In essence, I have someone that is as qualified and driven as me working for me full time. I now essentially have another Purple running around working even harder than I am to make money. Over time this money-made Purple will far outpace my ability to make money. And I couldn’t be more proud of her. I think of LinkedIn as a digital resume that is constantly knocking on doors asking who wants to hire me. And now I have a monetary twin who is constantly working to make me richer. Continue reading “Dividends & My More Successful Twin”
401K Update: Feeling the Burn
There is about a month left on my 401K challenge and things are heating up. In a recent post I explained how I would be moving to Republic Wireless from AT&T and paying an early termination fee as well as buying a new phone. I’m currently unable to sell my iPhone unlocked because the jailbreaking community is waiting for Apple to release its latest iOS update (8.4). I paid about $300 for my new Android phone and will pay about $250 for the early termination fee while sitting on about $600 worth of iPhone potential. These unexpected expenses are making things a little tight.
And I did not help myself by increasing my 401K contribution from 55% of my salary to 60% – my paycheck this week was hilariously small. I should have enough money to pay rent on the day rent is due. Hopefully I will not have to dip into my funemployment money before then. I’m confident this will work out fine though. I’m leaving on vacation today and two days after I return my next paycheck comes in. Getting paid to vacation is the best. Let’s feel that burn and finish strong!