Retirement Savings Update:
So as of the end of this month our retirement accounts have increased to $887,211 which translates to an increase of about $35,000. The 401K keeps jumping around (up $10K then back down $10K) thanks to the cluster *bleep* that is our political environment and its effect on the market. I've contributed the max plus max catch-up for the month so can't do more than that. This total does not include any pension amounts, the cash balance portion of which has not been updated for 2019 yet.
Mortgage Pay-Down Update:
With my February mortgage payment I paid an extra 3.75 principal payments:
January Balance: $96,555.69 - 3.5 principal payments
February Balance: $94,242.49 - 4.75 principal payments
Slowly but surely knocking the balance down.
Raise & Bonus Award:
My company's compensation philosophy is to not emphasize high salaries and to reward good performance by scaling bonuses based on your "Individual Performance Indicator". That being said, my raise ended up higher that I expected at 2.75%. I was expecting it to be in the 2.25-2.5% range so I was pleasantly surprised.
Since my company's performance for the year exceeded expectations we were eligible for the max bonus amount and since I was considered a high performer I will receive 104% of my bonus. I am very happy about this and it will go into savings aimed at home improvements and an eventual new car.
I feel very blessed that things are working out financially for us so far. We work hard and plan and research but we know that things pop up out of the blue that can effect us financially (shout out to the LoML's cancer diagnosis at the end of 2018). Fingers crossed that next month is just as boring as this last one and just as successful in the numbers department.
How did your January go financially?
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