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Random Money Updates

December 28th, 2013 at 07:08 am

Haven't been posty because work is CRAZY this time of year. Hoping to get time Sunday to relax (will do nothing) and I do get Wednesday off, so not particularly worried about it. Monday and Tuesday will be stressful though with the time crunch. All this stuff has to be done 12/31.

Of course, I will then come home and run my own numbers. Because I just like numbers that much. Big Grin {You think I'd be sick of numbers, but it fuels me}.

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Christmas:

Christmas was the BEST Christmas ever. The short version is aliens must have invaded my in-laws because they made it very low key. Who are these people? That was the best Christmas miracle of all. (Though a little heads up would have been nice because usually they are such gift hogs that no one else buys the kids anything. The kids got a little gyped this year, but oh well).

That said, all was not perfect around here. A loved one had a stroke (is doing 100% fine). IT just never ends!!! But, couldn't expect a much better outcome than that?

Our friends announced they were divorcing, on Christmas Eve.

Half of us were sick, and with one in the hospital, it was kind of a bummer for Christmas day. The mood was pretty glum on Christmas Eve after getting the divorce news. It just hit dh and I hard, for whatever reason. (We didn't hear about the stroke until AFTER Christmas because they did not want to worry us and weren't sure what was wrong).

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We also got a large cash gift for Christmas (very unexpected) and so I maxed out dh's ROTH. Heck, our total Christmas haul was $5,510. & nothing I wanted for Christmas more than a ROTH contribution. How cool is that??? (Plus $10 to spare!)

We had already committed $300 Christmas money (assuming we'd get even that) to some shows in January. We got front row seats for two different shows! So excited! (Comedy sketch fest - hard to narrow down but I guess easy enough with financial and time limitations - both the shows we are all going to are on the same day - dh and I may hit a couple of others if they don't sell out - they have like 100+ shows and all these big names and all of them we would probably love to see).

But, dh had already put $1k in his ROTH, and so I didn't need the entire Christmas sum to max him out. Still money left for our front row seats. Big Grin

I believe all the 2013 dividends hit in our ROTHs. As of yesterday the sum of our ROTHs was $99,174. So very very close to six figures.

The six figure mark means a lot to me because in our savings in general things tended to quickly take off after the six figure mark. If the stock market averages a 10% return and we contribute $11k per year, then returns are getting pretty neck and neck with contributions. & this is extra exciting for the ROTH space because of the tax-free nature of the ROTHS.

Plus, heck, dh received a 2% dividend in his mutual fund so holy heck. That adds up when you have a larger balance in your fund. This is one reason I wasn't expecting to end the year so well.

Funding both ROTHs at this late date was over-whelming, but since now only $5,000 is needed to max out mine, I will fund it to the point I don't have to dip into our "6 months expenses". It might be January or February. Much sooner than expected, thanks to the generous gift. Phew! This also puts us on track to easily max out 2014 in 2014 (Assuming we don't have a year like 2013!).

{I always fund dh's ROTHs first because I have a substantial retirement plan balance from my job. He only has the ROTH. Plus, the money came from his parents, so I guess it is extra fitting}.

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Yesterday I sorted out the kids' money.

They both received $20 cash for Christmas. LM had $30 prior and had already agreed to deposit all Christmas sums. BM had $0 but I am worried he lost his money. (He is the bigger saver so I find it hard to believe LM had $30 more than him). I don't know what the heck, but if that is the case I guess it will turn up. (He is also the slob of the two, so it's very likely lost in his room).

After depositing LM's $20, his savings account is up to $300. BM's savings account is sitting at $400 (by virtue of being older). They are both working hard to get to the $500 level. Because their interest rate is 7% on first $500. I spent some time with them yesterday showing them how much more interest they are earning now (used to get once cent per month!). We calculated the interest they should get 12/31, and how their money compounds. I think they are more well versed than most adults. They are both very math oriented and they clearly get it.

I took $20 cash from LM and transferred it into his account. It saved us an ATM run - we might be good for 6 months. (My big cash expenditure for the half year or so was that I gave my dad $10 for a Senior National Park Pass). Lord knows we never use much cash anyway, but it seems to be dwindling down to truly nothing - no cash usage. I certainly could have given my dad $10 without using cash or writing a check, but since it was a gift we wanted it to be more personable than a "check in the mail from a third party." That is how my online bill pay works. If I pay an individual, they just get mailed a check. It saves a TON of time, and of course no stamps for our more long-distance family.

3 Responses to “Random Money Updates”

  1. Joan.of.the.Arch Says:

    $20 cash lasting six months! Sure is a different world nowadays. I keep having people reimburse me for stuff with cash. But it ends up taking forever to spend cash.

  2. MonkeyMama Says:

    That's for two people, too. Dh and I both took $10.

  3. snafu Says:

    Great to hear folks have had 'the best Christmas ever!' It helps balance sad notes like friend's plan to divorce or someone we care about having a stroke or being hospitalized. Wow, $ 5,510. is truly humungous and has potential to double in your hands.

    I love your sidebar goals, it's snowing big flakes and the idea of bike rides has me longing for spring.

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