(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $6,000
(4) Add to baby fund - $5,000
(5) Add to emergency fund - $10,000
Total - $64,000
(1) $26,226 (79%)
(2) $10,000 (100%)
(3) $1,218 (20%)
(4) $1,095 (22%) ($6,095 in our ING baby account)
(5) $1,962 (20%) ($23,843 in our ING e/r account)
Total - $40,501 (63%)
We have hit the $40,500 mark!! Whoo-hoo!
Saturday, October 31, 2009
Thursday, October 22, 2009
IRS Audit, Now What?
We received notification that we are being audited by the IRS. Yikes!
Details regarding the audit: (1) we are required to appear for a face to face interview; (2) the issues to be reviewed are (a) interest income and (b) investment interest; (3) time period 2006-2008.
I will be calling my accountant this morning to discuss response plan and I am trying not to freak out too much.
Details regarding the audit: (1) we are required to appear for a face to face interview; (2) the issues to be reviewed are (a) interest income and (b) investment interest; (3) time period 2006-2008.
I will be calling my accountant this morning to discuss response plan and I am trying not to freak out too much.
Tuesday, October 20, 2009
$1 Million
Well, as you can see from our Net Worth IQ chart, we have hit the $1,000,000 mark. Whoo-hoo!!!!
As I mentioned earlier this week, this will be our first time hitting the $1 Million net worth level and it will be short lived. Come November, when we receive our final Florida property values, we expect our net worth to drop by about $200,000.
So, we will enjoy calling ourselves Millionaires for the next few weeks.
As I mentioned earlier this week, this will be our first time hitting the $1 Million net worth level and it will be short lived. Come November, when we receive our final Florida property values, we expect our net worth to drop by about $200,000.
So, we will enjoy calling ourselves Millionaires for the next few weeks.
Monday, October 19, 2009
Getting Close
There is a good chance, unless we have an October surprise in the stock market, that our net worth will hit (for the first time) $1,000,000 some time in the next couple of weeks. Right now, we are about $6,200 away from the $1 Million mark.
But, when we get our final property values for our Florida real estate (we will receive same in November) I expect our net worth to promptly drop at least $200,000 so the fun of saying we are millionaires will be short lived.
But, when we get our final property values for our Florida real estate (we will receive same in November) I expect our net worth to promptly drop at least $200,000 so the fun of saying we are millionaires will be short lived.
Sunday, October 18, 2009
Turtle Pace
(1) Max out 401ks - $33,000
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $6,000
(4) Add to baby fund - $5,000
(5) Add to emergency fund - $10,000
Total - $64,000
(1) $25,249 (77%)
(2) $10,000 (100%)
(3) $1,168 (19%)
(4) $995 (20%) ($5,995 in our ING baby account)
(5) $1,246 (12%) ($23,127 in our ING e/r account)
Total - $38,658 (60%)
Our savings pace continues along, that's the good news, at the pace of a turtle, that's the bad news. We have increased Mr. Sam's 401k withholding in an effort to close out the year strong. I am on pace to max out my 401k in the next couple of pay checks (before the end of the year).
(2) Max out 2009 IRAs - $10,000
(3) House project and furniture - $6,000
(4) Add to baby fund - $5,000
(5) Add to emergency fund - $10,000
Total - $64,000
(1) $25,249 (77%)
(2) $10,000 (100%)
(3) $1,168 (19%)
(4) $995 (20%) ($5,995 in our ING baby account)
(5) $1,246 (12%) ($23,127 in our ING e/r account)
Total - $38,658 (60%)
Our savings pace continues along, that's the good news, at the pace of a turtle, that's the bad news. We have increased Mr. Sam's 401k withholding in an effort to close out the year strong. I am on pace to max out my 401k in the next couple of pay checks (before the end of the year).