Primary Mortgage Update - April '10

Still catching up on progress posts....

$349.97 paid down on principal. Balance = $252,221.46




This little house is hardly budging. It's finally crossed the 1% paid since the start of the blog. Only 29 years and 1 month remaining.....

Capital One Update - April '10

Slow as molasses progress, but every little bit helps.

$11.59 paid. New Balance = $1,037.15

Mid-Year Resolution

Okay...it's not technically mid-year yet. But it's getting close. Funny how goals are fluid...but epiphanies and insights don't always magically occur at the end of December right before New Year Goals are established.

I'm not sure exactly when, but somewhere in the midst of working on all the 1040's... thinking about Roth conversions and contributions and IRA catch-up provisions...it hit me like a lightning bolt! I'll be 48 by the end of this year! That means I'll be eligible for IRA catch-up provisions in just TWO MORE YEARS!!! Oh my, that means I'm getting old. And that means, debt or no debt, I really need to be socking away a maximum Roth contribution EVERY SINGLE YEAR!



I hope to work until I'm at least 65. If I can maximize the IRA every year until retirement, the most I could add to my Roth IRAs is $106,000 (2 yrs @ $5,000, 16 yrs. @ $6,000). That sure doesn't sound like very much to me right now, but every year I don't maximize means that total will be even less.

So I'm adding a goal, even if it slows down the debt payoff. I want to have $5,000 to contribute to my Roth before April 15, 2011 (the due date for 2010 contributions). I may end up having to transfer existing assets - either stocks or emergency fund - to reach the full $5,000. But since my Roth has been around for more than 5 years, I can treat it as a backup emergency fund anyway. So there it is...the realization that time has slipped by quickly and that it's time to do something about it!

Survey: Half of Americans didn't save any income in past year

Disposable Income a Thing of Past

Click on the link above to watch Jordan Amin of the AICPA's National CPA Financial Literacy Commission discuss efforts to increase financial literacy in an interview with Fox Business. Concern is mounting, as evidenced by a new Harris Interactive survey for the AICPA that showed that half of all Americans did not save any of their income in the past year. "The good news is almost half the people were able to save despite the economic news," he said. The survey found that just 6% who were not saving would like to save. Visit the AICPA's 360 Degrees of Financial Literacy website.

content from CPA Letter Daily

Chase Card #2 Update - April '10

Even though this balance is no longer owed to Chase since I transferred the balance to the equity line, I'm keeping up with it separately in my mind and on the blog.

paid off $57.00 - new balance $2,613.14.


And reaching for milestones to celebrate...this balance is down over $1,000 from where it started. YIPPEE!!!!

HELOC Update - April '10

Even though I raised my interest rate with the refinance of this balance, I am so happy that I was able to do this. I love that fear of rising interest rates isn't consuming my every thought anymore. I love that the property is cash flowing --- even adding a little extra to my bottom line every month. I'm not paying any extra towards this balance right now, but that's okay. In due time, I will.

$275.52 paid down. New balance = $72,209.29

I survived!

Whew! So glad the craziness is behind me, at least until all the extensions are due. We took a quick trip out of town over the weekend for my daughter's dance team competition. I've had a wonderful few days off reconnecting with my family. Now if only I could get this house reclaimed from the neglect it suffered the last few weeks.

I'll be catching up on the blog over the next few days!

Welcome to my world

with massive quantities of the beverage shown:

Had to share

this inspiration I found in my inbox:

"Love who you are right now. Love where you live, who you live with, and don't wish for a miracle to pull you out of the mess. The miracle is you. The miracle is life." -Unknown

I'm tired, but I can post a spreadsheet

I guess I should be pleased that March was more on track. Year-to-date, I'm still not quite on track to meet my annual goal, but I missed quite a bit of work in February trying to keep the rest of my family on track. I did not plan on buying any additional stock this month, until BP sent a notice that they are discontinuing their direct purchase and dividend reinvestment plan. I sent in enough to round up my shares, and, from now on, I'll be using those quarterly cash dividends to increase my other stock investments.

More March '10 Updates

It's late, and I need to get another 30 minutes or more of work in before my head hits a pillow. Gone are the days when I would stay at the office 10 to 14 hours a day 7 days a week. The good part about my job is that I can get my work done at any time day or night. The problem when I try to work at home is that I can get NOTHING done until I feel like my house is semi-orderly and my kids are asleep so I'll continue to live on coffee and very little sleep for the next two weeks to make sure I get all those tax returns ready to file.

I'm taking a quick break to post the last of the March updates:

Money Market Loan went down $4.43. New balance = $4,620.27





Chase Card #1 - paid $96.99. New balance = $5,736.08





Chase Card #2 - paid $129.40. New balance - $2,670.14. And yes, if you've been following you know that I actually transferred this balance to the HELOC. But I'm keeping it separate in my mind, in my ultimate plan of attack of all debts, and I've decided to leave it separate on the blog too. Since the interest rate has been significantly reduced, and the required payment is interest only I don't expect to see much progress on this balance until I've knocked off some of the other balances with higher rates.




Back to the 1040's for me!