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 fantastically relaxing time with good food, drink, fishing, crabbing, drinking, relaxing, reading, swimming, and taking care of a friendly storm battered seagull who couldn't fly due to having his flight feathers somewhat stripped from riding out Isaias, poor thing.

We arrived the night the storm hit and it was gone by the next morning.  The rest of the week was perfect weather and we are all refreshed, replenished and ready to tackle work again.

Retirement Savings Update:

Having received most of the 2nd quarter statements for our retirement accounts I think we are fairly up to date on the numbers.  The new current all-in total of all of our retirement accounts, minus my pension is about $905,700, an increase of about $52,800 from what I reported last month.  

I continue to contribute a little more then the max plus max catch-up for the month which means I'll hit my maximum annual contribution limits before the end of the year, which is just fine.  When that occurs I'll dump that extra take home pay into my extra mortgage payment.

Mortgage Pay-Down Update:
With my August mortgage payment I again 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

August Balance:        $82,068.40 - 4 principal payments

Of the amount I am currently paying every month 85% is going to principal and only 15% is going to interest.  I'm digging that!  If I keep up this average extra payment amount I should now have this paid off by August 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.

I did take out a small chunk of money from my Emergency Fund to help D#1 and her BF buy their first home.  They have their own money saved and have already been approved for their mortgage, but they want to put as much down as possible in order to not have PMI for very long.  Smart kids!!!  

Neither of my kids have received their COVID Stimulus money yet, so we fronted that to them.  If they eventually get their payment they will pay us back and then we will donate it.  Gotta love this government who can't effectively pay out promised stimulus to its legitimately eligible tax payers.  They can't even pay the regular tax refunds correctly.  D#2 got her Federal refund electronically deposited, and then received a check from them for. . . are your ready for it?  She received a check for ONE DOLLAR. WTF???!!!  Why?  Our tax dollars hard at work people!!!  Can someone out their please explain to me what real benefit ANYONE but the wealthy has received or experienced PERSONALLY, that is a result of this Administration.  Anyone?  Anyone?  Bueller?

So how did your July go?  Did you and your eligible young adult kids all receive their COVID stimulus money?  Was your IRS refund properly conveyed to you?  Anyone else able to get away and relax?  

I hope you all have a peaceful Sunday.