Sorry to quote David Bowie, but is seemed pertinent to my net worth update this week. With the coming of the new year, I’ve been doing what I can to get my finances better organized. As with any type of major clean up project, though, things are going to get messier before they get cleaner.
Take my investments, for example. I’m currently in the process of selling some funds and buying others in my Roth in order to get my allocation to my desired levels. I’m also trying to roll over my 401(k) into my Roth, although going from a pre-tax account to a post-tax account always involves quite a bit of paperwork (as well as plenty of money in taxes). Hopefully, by the end of the month (or by the end of February, at the latest), I’ll have everything consolidated and close to my desired allocations. Until then, it’s going to be a bit of a mess with my investment portfolio.
My savings accuounts is a much different (and happier) story. As you might tell from the two thousand plus dollar increase to my savings, I have gotten my unemployment benefits paid out, as well as past benefits, which have swelled my accounts. For the first time since I lost my job, I’m not worried about meeting my bills, and have enough money to start building my emergency fund back up and continue my investment plans. It’s always nice to have some breathing room.
Spending is an uglier picture, although it’s not as bad as it might seem. I’ve spent quite a lot on my American Express this last week, but many of the expenses are one time things (books for me, books for Sondra, gifts for my mother and her sister) or were things that I put on my card but was compensated for with cash (spending on groceries that Sondra and I split, for example). As a result, while I added much more to my card than I was planning, I’m pretty confident I’ll be more frugal in the near future.
Anyway, enough about my budget, let’s get to the meat of my personal finances:
Overall, not too bad; a nice boost to my net worth, one that I hope I can maintain over the next several months. But I’m happy for now.
- Net Worth Update: Unemployment Trouble
- Net Worth Update: March 2010
- Net Worth Update: Back In Action!
Related Websites
Financial Samurai
on January 12 2010
Rog, you may be a great candidate to roll over into a ROTH, but before you do, please read my latest post and then make the decision. I promise you, you will have a good read and think
Financial Samurai´s last blog ..Be A Sloth and Don’t ROTH – Why Converting To A ROTH Is A Mistake!
Roger
on January 13 2010
FS, that was a very interesting article, and inspired one heck of a response from your readers. (I’m working on my own comment; I figured I needed to make an intelligent, cogent argument.) Perhaps I’ll have to just roll it over to a regular IRA, instead; I’ll have to think on it for a while.
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on February 1 2010
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