Friday, July 3, 2020

June Month-End Financials

No diatribes to spew today.  Its been a beautiful week and I am off today through Monday.  D#1 is coming over tonight to have a movie night and watch Hamilton with us.  She requested popcorn and Shirley Temples, of all things.  We are going to turn the lights out and the volume up and I am very excited to watch this movie with her.  Sunday she and her BF are coming over for burgers and dogs to celebrate the 4th on the 5th.  Not sure why but the LoML likes to do summer celebratory meals on Sundays regardless of when the holiday hits. We won't see D#2 and her BF this weekend but she popped by yesterday on her way home from work so I got my fix.  I'm going to spend the rest of the weekend doing some chores, relaxing with the LoML and puttering around my gardens, so I'm a very happy camper.  The perfect 4th of July weekend all things considered.

Retirement Savings Update:
I haven't really tallied our accounts outside of the 401(k)s in a while as I don't have easy access and only receive quarterly statements.  But I decided to rip the band-aid off and see the damage.  I haven't received the 2nd quarter statements yet so this is pretty much based on the 1st quarter performance.  The new current all-in total of all of our retirement accounts, minus my pension (until I receive those 2nd Q statements) is about $852,500, down about $29,000 from what I reported last month.  I expect it to go up fairly significantly once I receive the June statements but it will still be below the pre-COVID numbers.

I continue to contribute a little more then the max plus max catch-up for the month so I can try and take advantage of any potential rebound of the market, although at this point I'm not hopeful that a rebound will ever occur.   This country needs to get its shit together in dealing with this virus.  Wear masks and stay away from people and this will all go away.  Continue to  exercise your "constitutional right" to not wear masks and party in bars and at beaches and this shit show will just continue.  Whatever you choose, I'll be fine.  I'm still working and saving and could go on like this forever.  It will just extend my work life for a few more years. Maybe.

Mortgage Pay-Down Update:
With my July mortgage payment I paid an extra 3 principal payments:

January Balance:        $96,555.69 - 3.5 principal payments
February Balance:      $94,242.49 - 4.75 principal payments
March Balance:          $92,429.89 - 3.6 principal payments
April Balance:             $90,429.93 - 4 principal payments
May Balance:             $88,397.84 - 4 principal payments
June Balance:            $86,326.50 - 4 principal payments
July Balance:             $84,215.12 - 4 principal payments

If I keep up this average extra payment amount I should have this paid off by September of 2023.  If I throw my bonus and tax refunds at it I can get it paid off sooner, but we have some work to do on the house and I have other savings targets, like a new car/maintenance fund, emergency fund, and insurances sinking fund. And if this COVID situation continues I'm not sure I'll even receive a bonus next year.  We shall see.

Regular Savings:
I continue to sock away about $2,700 a month into our savings account.  I've completed my savings goals for our vacation fund and home maintenance fund.  Now I'm beefing up the the emergency, new car and home improvement funds.

How did your June go?  I hope everyone is keeping their heads above water. I definitely feel like it is going to be a long, long time before things even begin to go back to normal.  Happy Independence Day!   

2 comments:

  1. I stumbled across your blog and really enjoyed reading your financial progress. We're at a similar stage, trying to get the mortgage paid down asap and saving for retirement. Your veggie garden looks lovely! look forward to following your progress.

    ReplyDelete
  2. Thanks for the comment Jan! I love reading your blog and you are actually one of the bloggers that inspired me to start blogging about this. I enjoyed seeing your progress and thought, maybe someone would like to see how I do it too? CHEERS!

    ReplyDelete

July Month End Financials

My monthly financial update is late this month because we were away on vacation.  We were visiting my sister and BIL on the coast.  It was a...