All posts by 1MansMoney

I am a guy pushing 40 that is married to a beautiful woman in her 30's. If I can only have as much luck with our finances.

Wife’s 1st Paycheck At New Job

My wife just received her 1st paycheck at her new company. The $1,211.54 check she received was for 9 days of work. For the 1st 3 months of her employement, she is 1099. Therefore, her paychecks will not have any taxes taken out. After 3 months, she will be a salaried employee with taxes taken out of her check automatically. That being said, we will deposit $300 per check to our savings account while she is 1099 to ensure that we have enough for taxes in April.After recieving her paycheck, we deposited Read more [...]


My siblings and I were blessed to have grown up in a nice home in one of the better communities of my hometown. As a young man, it didn't seem like such a big deal to me that our home was paid off. As I grew up, however, I realized that most of my friend's parents still had huge mortgages in addition to a lot of consumer debt. Now that my wife and I have our own mortgage, I have an even greater appreciation for what they were able to achieve.My parents ended up selling that house years ago and Read more [...]

Final Commission Check?

Great news! My wife received a final commission check from her old company today for $1,057.94. The first thing we did was log onto Vanguard and contribute another $300 to her Roth IRA , which completes her contributions for 2007 ($4,000 total). We also paid off the $377.74 air conditioner that we purchased earlier this month on our cash rewards credit card. The remainder of the check will be deposited into our saving account at the end of the month.The good news continues. This is not actually be Read more [...]

Retirement Account Forecasting

To help keep myself motivated on our early retirement goal, I like to review our 20 year retirement account forecast from time-to-time.I was happy to see today that our current retirement account balances (assuming no additional contributions) should be worth just over $100,000 in 20 years. I calculated this using an 8% average return rate, which I believe to be conservative given that the historical average return rate of the stock market is ~10%.Obviously, we plan to continue contributing to our Read more [...]

2007 Profit Sharing

I've been eagerly awaiting my company's annual profit sharing. In the past, it has represented a $550 increase to my 401(k) each year. It's typically paid around July, but my company was running a bit late this year because of administration issues.Well, I woke up this morning and was shocked to see that my 401(k) balance jumped $3,000 since yesterday. I checked the transaction history and it turns out a $3,005.63 employer contribution was made!I had heard that the profit sharing contribution was Read more [...]

Could Have Been Worse

Today is a busy meeting day for me at work (4 meetings total). I try to get my work done between meetings, making for a hectic day. In-between meetings, one of my co-workers popped in my office today asking "Do you know you have a flat tire?". I thought he was joking, but unfortunately, he wasn't. Since my day was packed, I figured I'd wait until after work to take care of it.After work, I removed the flat tire and put on my spare tire - one of my co-workers was nice enough to lend a hand. I Read more [...]

Balancing Act

My wife and I are trying to find the balance between long term investing (retirement) and short term savings (emergency fund, house, etc.).I tend to focus too much on investing for retirement, and am eager to put all of our spare money into either our Roth IRA’s or 401(k). The power of compounding is amazing and time is the most important element. The more money we can invest now, the better off we should be later. This simple table demonstrates that a person who invests early and for just eight Read more [...]

Net Worth Milestone In September?

Although we’re only one week into it, September is already shaping up to be an excellent month. In addition to our average monthly decrease in liabilities of ~$1,000, we just contributed $200 to my Wife’s Roth IRA and deposited $1,300 into our savings account.God willing, we should surpass the $20,000 net worth milestone this month. This would put us at just over 90% of our 2007 net worth goal of $22,000, and on schedule to hit our 2007 goal in October (2 months early!). After that point, anything Read more [...]