FatStacks' Net Worth for April 2024

Assets Value Change ($) Change (%)
Cash $5,551 ($40) (0.72%)
Stocks $77 ($28) (26.67%)
Company equity $30,000 - -
HSA $23,687 $24 0.10%
Cars $41,927 - -
Home $210,000 - -
Cryptocurrency $29,711 ($11,800) (28.43%)
Roth IRA $5,151 $916 21.63%
401k - Traditional $373,354 ($10,589) (2.76%)
401k - Roth $25,721 ($878) (3.30%)
401k - Trad. (spouse) $22,575 $57 0.25%
Profit Sharing (spouse) $63,752 ($1,321) (2.03%)
Boat $58,200 - -
$889,706 ($23,659) (2.59%)
Debts Value Change ($) Change (%)
Home Mortgage (15yr 3%) $102,597 ($656) (0.64%)
Student Loans (2.8%) $2,808 ($143) (4.85%)
CC (0% pay off evry mnth) $0 ($78) -
Car Loan (72mo 3.82%) $39,631 ($872) (2.15%)
Furniture (0%) $5,204 ($317) (5.74%)
HELOC (8.25%) $43,750 $6,000 15.89%
Total Debts $193,990 $3,934 2.07%
Net Worth $695,716 ($27,593) (3.81%)
*All values shown in USD ($)
$4k from HELOC to cover income taxes and another $2k to cover boat expenses :(
Crypto dive.

I scored "Exceptional" on my end-of-year review, so I'd hoped to get a nice bump in pay, but just heard that the company is not giving out pay raises this year.
In 2022 I won the "CEO's Circle" award and only got a 2% bump. I make a good salary, but am REALLY bummed out that this is how they reward high performers. The job market sucks right now, but I think it's time to start looking for greener grass.


4/11/2024 10:10:05 AM Ikeh89
I would consider focusing on paying off the HELOC instead of maxing out retirement. That 8.25% rate is high. I am assuming you don't follow the Dave Ramsey ethos; however, your overall debt level is a tad high, some would suggest paying off your debts before investing. I personally would simply get the match, then destroy the HELOC, then the cars, then maybe up the retirement to 15% while killing the rest of the debt.
4/12/2024 9:06:39 AM FatStacks
Part 1: I'm not necessarily a follower of his, but I definitely hate high interest rates. (The HELOC was only 3% at the time I took out the bulk of money, and then obviously the rates slowly crept up). I waffled back and forth on paying that down over the last couple years. I'm okay with carrying that debt as long as I can make up that interest elsewhere. My crypto holdings have far outweighed any interest paid on the HELOC. Ultimately my current reasons for NOT paying it down are: - The money I'm putting into the Roth IRA/401k is probably getting close to the same 8.25% return (I hope), so in my eyes, it's kind of a wash. - Most of the HELOC interest is tax deductible, so that's another factor. - Finally; I *could* pay it off if I sold my crypto right now; I just have faith that crypto will easily beat that 8.25% in the long-term.
4/12/2024 9:06:56 AM FatStacks
Part 2 of 2: - Crypto could just as easily go to zero, which would suck, but I'm willing to accept that reality. My backup to the backup plan, is my $30k company equity...Eventually I'll be able to pull that out for some profit (in 3-5 years), so I know I'll be able to cover the HELOC *at some point*. What I can't do in 3-5 years is go back in time and put money into the Roth IRA, so I'm trying to start stuffing it in there while I can. I really wish I'd started sooner. And if I pare back my 401k contributions, I'm getting hit with 22% income tax on those dollars (I'm feeling that effect right now from last year).
4/12/2024 9:16:48 AM FatStacks
(I might take that 22% tax hit when I pull those dollars out, but also, maybe not. I still have ~20 years to figure that out, hah)
5/6/2024 8:20:23 AM girlnextdoor
I was going to suggest focusing on promotions/big jumps rather than annual raises since I think it's pretty common right now for folks to be getting virtually nothing year to year/companies not rewarding performance, but then I saw your HHI is over $200k so I changed my mind - in your spot I'd probably be focusing on the budget and anywhere I could reduce spending to increase saving and debt payoff. You could have the HELOC gone in a year, if you then continue that same intensity for 6 months or a year and throw the extra toward retirement instead of HELOC, you'd be more than "caught up" on missed retirement gains from one year plus won't have the HELOC hanging over you anymore.
5/6/2024 8:25:29 AM girlnextdoor
Alternatively - if your company doesn't reward performance and you can't easily find another job, cut back at work and focus more time/energy on saving money. My husband and I have had times where we work our 40 a week and call it done - more time to spend grocery shopping and cooking at home, doing household maintenance ourselves, etc., so it "feels" like a raise since we're spending less and have more free time. :D