I did it again – against all odds. I started this year with the goals to:Continue reading “2016 State of the Union”
I fucking did it. I started this year with the goals to:
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”
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”
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!
I’m half way through my “Maxing 401K in 6 Months” Challenge and I must admit I haven’t felt a difference. Despite my paychecks being half what they used to be I haven’t felt stressed or stretched. Saving in the current month for the next month’s rent has become routine. And the thrill I get seeing my 401K amount increase $1,500 every 2 weeks is something I can’t even describe. I’ve already saved $10,000 in my 401K and $11,000 overall this year and it’s the beginning of April. That’s 27.5% of my $40,000 savings a year goal which would double how much I saved last year.
I just received my first paycheck of 2015. I was so excited to see it that I accidentally awakened at 5am to view the paystub that’s sent at 4am. I wasn’t excited to see all the money I could spend, but how much that would be left with after trying to max my 401K in 6 months and the challenge of living on the remainder. After I opened it I was excited to see how much was going into my 401K. It was over $1,500 in one pay period, which is about how much I would input into my IRA every few months. A few months of work done in two weeks because of the miracle of tax-advantaged accounts. I was so excited. Continue reading “Challenge: Maxing My 401K in 6 Months”
I thought it would be good to create an annual State of the Union to remember what I did each year regarding my investments and why. This was a big year – the first year I really dove in and learned how to have my money make money of its own.Continue reading “State of the Union: 2014”