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 ($27,593) (3.81%)
*All values shown in USD ($)
Notes:
$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.

Comments

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)