Here goes another net worth update, my last one for 2017 🙂 This month I had $16 grand coming in and $3 grand going out. Breakdown below:
Increases – $15,748.22
- After tax income – $12,821.06
- HSA contributions – $283.38
- Interest from checking and savings accounts – $26.29
- Travel reimbursements – $226.50
- Gain on investments – $2,390.99
Decreases – $3,215.48
- Rent, utilities and deposit – $2,230.96
- Christmas shopping – $120.68
- Holiday travel – $226.50
- Other expenses – $637.34
Net increase – $12,532.74
Not too shabby. As you can see, my income was higher this month thanks to a $2,500 (pre-tax) bonus from work. And with the exception of one last HSA contribution at year end, I’ve maxed out all of my retirement accounts. Next year, I plan to do the same.
In fact, I’ve elected to contribute 100% of my paychecks in 2018 to my 401(k) until I’ve reached the new $18,500 contribution limit. Why? Because this’ll save me 40% in taxes. This means that no matter what investment vehicle I dump my contributions in (hint, S&P 500 index fund), that vehicle will have to drop more than 40% for me to lose money. No brainer right?
In other news, my fiancée and I did quite a bit of traveling over the holidays, which included a visit to my folks in Atlanta. Luckily, my Chase Sapphire Reserve reimburses up to $300 per year in travel, so I’ve already gotten $226.50 back.
So with travel, rent, Christmas shopping and other expenses, that leaves me with a $12.5 grand net increase for the month. Not too shabby indeed.
And now I’m officially a quarter millionaire! 😀